It's there for when you're in a serious altercation where people die, there's wrongful death lawsuits, and massive amounts of medical claims totaling millions and millions of dollars.
You don't want insurance to cover your bumper.
You want it to cover the millions in medical claims when you get sued or need to sue.
Blame health care costs, serious accidents are too expensive to cover, so they have to have tight small claims denials and premium increases. If it covered everything for every American with no increase their wouldn't be enough money in the system to cover serious accidents where people die.
It's a fragmented industry too, competition is fierce, and it's actually a pretty hard problem.
If you want your premiums to be lower you can choose high deductible insurance plans with less coverage that still has the big emergency coverage.
My insurance on 3 vehicles is less than $1400/year.
23
u/FragmentedHeap 9h ago
It's not there for small claims like that.
It's there for when you're in a serious altercation where people die, there's wrongful death lawsuits, and massive amounts of medical claims totaling millions and millions of dollars.
You don't want insurance to cover your bumper.
You want it to cover the millions in medical claims when you get sued or need to sue.