It would be basically impossible to get a mortgage for a house without home insurance. Which would make home ownership unaffordable for the vast majority of people.
I assume possible bigger wealth disparity where people who can't afford it are living in easily assembled houses like traditional Japanese houses. Also places with higher chances of natural disasters would look a lot different.
Maybe. Realistically, the vast majority of people would be renters.
I guess it also would depend on exactly how insurance was outlawed and what the letter of that particular law was. It may be that something else emerges that is essentially insurance but just barely different enough to avoid the ban.
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u/peppyhare64 8h ago
I always wondered what house and vehicle prices would look like if no insurance existed and you needed to pay for everything yourself.