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re: Does insurance violate the basic laws of economics?
Posted on 3/1/24 at 11:56 am to Taxing Authority
Posted on 3/1/24 at 11:56 am to Taxing Authority
quote:
That's government's fault.
Except in the case of mandatory auto insurance by law was exactly what the insurance companies, not the citizens/consumers were asking. I remember the ads on tv pushing for the law change. Ads sponsored exclusively by the insurance companies and not a single one by any group or segment of the public.
The ads were anti-economic because even as a child of <12 I understood once required by law the costs would climb astronomically, and that’s exactly how it has played out. All the “value” was screwed by price gouging the law abiding.
4
Posted on 3/1/24 at 11:58 am to Sidicous
Expected utility of insurance is generally positive.
Posted on 3/1/24 at 12:05 pm to Sidicous
quote:
Except in the case of mandatory auto insurance by law was exactly what the insurance companies, not the citizens/consumers were asking
So what’s your solution to having some uninsured jackwagon broadside your $50k truck and put you in the hospital? Have your insurance cover their negligence 100%? Do you know how much that would cost you?
Or are you going to sue them to take their totaled car and furniture from their govt subsidized housing?
Uninsured motorist coverage costs a fortune because the mandated limits are actually too low to cover todays vehicles, healthcare and multi car accidents.
This post was edited on 3/1/24 at 12:07 pm
Posted on 3/1/24 at 12:57 pm to Sidicous
quote:If your premise is that government is representing the desire of insurance companies over the voters… that’s the definition of government failing to do its job. How is that not the governments fault?
Except in the case of mandatory auto insurance by law was exactly what the insurance companies, not the citizens/consumers were asking.
Posted on 3/1/24 at 9:15 pm to Sidicous
quote:I hate insurance companies just as much as everyone else, but what would you propose we replace mandatory liability auto insurance with?
Except in the case of mandatory auto insurance by law was exactly what the insurance companies, not the citizens/consumers were asking. I remember the ads on tv pushing for the law change. Ads sponsored exclusively by the insurance companies and not a single one by any group or segment of the public.
The ads were anti-economic because even as a child of <12 I understood once required by law the costs would climb astronomically, and that’s exactly how it has played out. All the “value” was screwed by price gouging the law abiding.
You want more retards driving around uninsured?
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