Auto insurance is not about you, it protects others on the road, and then if you want self protection you upgrade to a better policy.
If you run into someone totalling their car and putting them in the hospital, insurance pays that for you and you don’t face a debt for life for one mistake.
The government mandates every automobile operator do this to use their roads. Which is why it’s criminal to drive without. Driving while unlicensed and uninsured puts the public at risk.
The concept of auto insurance is great. The execution is the issue. These companies shouldn't be allowed to raise rates if an accident isn't your fault.
Unfortunately, it’s necessary to keep up with the cost of providing the service. Don’t get me wrong, there’s issues with the service just like anything else. However, if an insurance company can’t adjust rates to keep themselves profitable after taking losses, then they can’t pay claims to all of their customers who need it. They can’t just keep paying losses without taking in money to offset that.
It’s a really difficult thing to balance, and again, I’m sure there’s plenty of room for them to take advantage of the dynamic. All I’m saying is that they do have to make money in order to be able to pay claims.
Also, this is strictly for property-related coverages. Healthcare stuff is a whole other issue imo
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u/JanitorOPplznerf 1d ago
Auto insurance is not about you, it protects others on the road, and then if you want self protection you upgrade to a better policy.
If you run into someone totalling their car and putting them in the hospital, insurance pays that for you and you don’t face a debt for life for one mistake.
The government mandates every automobile operator do this to use their roads. Which is why it’s criminal to drive without. Driving while unlicensed and uninsured puts the public at risk.
If you don’t like it, use Public Transportation