What is the Islamic ruling on the car insurance contract?

In the Name of Allaah, the Benevolent, the Merciful All praise belongs to Allaah, and may peace and blessings be upon the messenger of Allaah, and upon his family, companions, and those allied with him. The default with regards to insurance contracts is their invalidity, considering what they contain of wicked Gharar (Translator: Gharar is an impermissible form of business wherein the payer is unsure of what he will get in return for his payment), and there is no consent for any of this except if the government obliges it, or is called for by an apparent need. As for the sponsor-based Islamic contracts, then they are legislated contracts due to their being based on donation and sponsorship. And Allaah, the Most High, knows best.