Whatever you pay in insurance is unlikely to cover the damages won by an injured party. That money is coming out of the pockets of people who will never cause an injury.
Good drivers subsidize the assholes.
Good drivers subsidize the assholes
The same as healthy people subsidize the sick; or childless people subsidize schools anyway?
I’m okay subsiding the schools though! I don’t want to be surrounded by more idiots then I already am.
In my country, free schools are not an expense, we profit on it.
Whatever money we spend on an education, will on average come back twice in the form of increased income tax. Plus of course the other values of living in a well educated society.
So taking a free education is not society subsidizing you, you are doing society a favor.
True. No argument there.
Today you; tomorrow me ❤️
In other words, not only do you have to pay in case you hit someone, you have to pay for other people hitting people
True. My way of putting it was imperfect but I guess that’s what makes it a shower thought
Not quite, you’re paying insurance to cover the costs which they might decide not to do and you don’t even get a refund for services not rendered.
I just made a comment comparing it to damage deposits, but at least you get your damage deposit back if you don’t break anything
you get your damage deposit back if you don’t break anything
Lol
And if you don’t hit anyone, the amount you pay still goes up every year.
Look into mutual insurance. You actually get back money for the payouts they didn’t have to do that year. Northwestern, Amica, USAA, etc.
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I get an additional discount (no claims bonus) for every year I don’t hit someone).
So like self-insurance?
In the UK you can set up a self-insurance fund. But to do it you have to set aside tens of millions of pounds in a dedicated, easily-accessible fund, and hire an expensive lawyer who knows how to do it. Probably better to just take the hit and invest the millions at that point. I don’t know. I’m not a millionaire. I’m not even a thousandaire. :P
So like you can do that if you’re rich. You out $1M in a bond, or show some proof annually that you’ve got that available, and poof - that’s your insurance.
Most people can’t afford a car without payments. So insurance is there so when / if you break someone else’s car, you’ve already made those payments.
Plus some capitalistic grift for the insurance companies, of course. It’s a courtesy they’re providing you, after all.
PHENOMENAL shower thought friend.
You have to BET a third party that you WILL hit someone (they pay if you do).
Similar to how, in order to rent a place, you have to pay in advance in case you break something
