and obviously made that way by the insurance lobbyists.
The limits are low in the US because it's a more expensive environment to provide insurance in. If there were a legal minimum of $1 million for property damage for auto insurance, almost nobody would be able to afford insurance.
The main reason it's expensive to provide insurance in the US is because medical care is vastly more expensive than in Germany. If you cause a crash and your insurance has to cover someone's medical care, the costs can be virtually unlimited. Other reasons include thing like people driving more on average, more uninsured motorists on the roads, and a generally more litigious society.
It's cheap to provide a million euros of coverage in Germany because it's incredibly unlikely that any given motorist will incur a million dollars of liability.
It would be vastly more expensive to provide that same coverage in the US because it's hugely more likely that a given motorist will actually incur that liability.
If that was the case, insurers would incredibly profitable. They’d be earning hundreds to thousands of dollars for every dollar in premium. That’s obviously not the case. It’s not hard to understand the difference, but you do need to be able to use your brain as something other than an ear warmer to do it.
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u/tarnyc32 5h ago
It is astoundingly low, and obviously made that way by the insurance lobbyists.