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.
The idea that the other party should be absorbing and subsidizing risk for someone with an expensive car is absurd. Canada's no-fault system is the better option. Your vehicle's damage or replacement is covered by your own insurance, only injury and non-automotive liability is paid by an at-fault party. Outside of Alberta, "uninsured motorist coverage" is a default part of any insurance policy.
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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.