What is the primary purpose of purchasing vehicle insurance?

The primary purpose of purchasing vehicle insurance is to mitigate costs associated with accidents and vehicle loss. When an insured driver is involved in an accident, vehicle insurance provides financial protection against the repair costs, medical expenses resulting from injuries, and potential liability claims from other parties. This financial safety net is crucial as it can significantly ease the burden of unexpected expenses that arise from accidents or vehicle damage.

Additionally, vehicle insurance often covers theft, vandalism, and damage from natural disasters, further safeguarding the owner's investment by ensuring they won't have to bear the full financial impact alone. Other options, such as increasing market value, protecting against traffic fines, or covering maintenance costs, do not align with the fundamental role of vehicle insurance, which is primarily focused on risk management and financial protection in the event of unforeseen incidents.