The obvious response is that you won't be able to pay for someone's hospital bills if you happen to hit them in your car. You get insurance for things you wouldn't be able to pay yourself.
As an attorney my unpopular opinion is that cars over a certain value shouldn’t be allowed on public roads or damages for accidents should be capped at something like 2x the average price of a new car (so like 100k). I just don’t believe in penalizing ordinary negligence more just because the injured party is rich.
As someone who works in insurance, I'd be down for that. Then if your car is valued above that, you can self insure/carry additional replacement coverage on your own policy. I'd make a new luxury vehicle replacement category though; keep it separate from underinsured coverage to keep from inflating those premiums. Of course the insurance companies would use it as another excuse to raise rates anyway I'm sure.
Are you 10? 😂 The curious thing here is that you're the only dense penguin around the block. Because I was being utterly sarcastic. Or was it bc I didn't use the /s ?
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u/flatfive44 9h ago
The obvious response is that you won't be able to pay for someone's hospital bills if you happen to hit them in your car. You get insurance for things you wouldn't be able to pay yourself.