re: Why do we really need private insurance for anything

Insurance is a risk pool. Money in. Money out.

The government, and insurance companies, can't be expected to do it all. Insurance of any kind should be a safety net for unforeseen, catastrophic events someone doesn't anticipate and can't cover. But at what point do you quit providing coverage for poor decisions? Homeowner's insurance for someone building a home on a barrier island or coastline that's been hit multiple times by a major hurricane? Health insurance coverage for conditions related to poor lifestyle choices like smoking, obesity from poor eating habits etc. Obesity, for example, is linked to several expensive chronic conditions such as type 2 diabetes, heart disease, hypertension, and hyperlipidemia. These conditions drive up healthcare spending. Should coverage be offered to those that won't take care of themselves?

The list can go on and on. If carriers withdraw from California because of persistent wildfires, or Florida because of excessive damage due to flooding and hurricanes, it's a business decision. Then it becomes a question of whether a State or Federal Government steps in or not. And that costs us taxpayers a lot of money.

If you want to build in the LA foothills, or on a barrier island in Florida, and have the funds to do it and self-absorb catastrophic events, have at it. But certain things shouldn't be covered after a point and taxpayers should not be expected to cover your decisions.

Thank you for actually bringing logic and reason to a conversation this board reacts to emotionally anytime there’s a major catastrophe.

The truth is hundreds of thousands of claims get handled and paid annual with zero issue, but you don’t hear about those.

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I won’t lie and say I’ve never benefited from insurance. I have. But I can’t help but be mortified by it

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Just let govt bail you out then.

That way you get third rate service, but you dont have to worry about some dude making a profit off of you.

Bureaucrats always make the right choices.

Private insurance assigns premiums based on risk groups.

Government provided insurance would assign premiums (and make them mandatory) based on race, gender swapping, or any of a few other criteria that have nothing to do with probability of getting paid from claims. We’d all be subsidizing people who are most likely to crash their cars and burn their own houses down.

And government already steps in following disasters, and we all pay for that. My neighbors in Slidell didn’t have storm coverage during Katrina, and they had everything provided: trailer in their driveway with electricity and plumbing and house restored faster than mine.

It appears to be a retarded talking point for all parties. Insurance is one of the most heavily regulated industries in the Country.

Who regulates it, the government.

Who wants to give them more control? The OP and people like him

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The government running healthcare would be the worst thing in the history of this nation.

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Anyone who disagrees with this statement should call trying Medicare one time to resolve a simple problem.

Just one call. You'll see why the government should not be over health care.

If you look at the one thing they do run, it’s NFIP.

Coverage is capped at 250k, how many homes replacement cost is above 250k?

NFIP actually does subsidize high risk zones with X flood zones. But yes let’s let the government do all of P&C insurance

I want to know what he does for work, but I think I already know the answer

He’s probably a taxpayer leach who spends all day on Facebook