Comment Re:Spoofing! (Score 1) 199
Most people don't want to become insurance experts or hope that their circle of friends is clued up enough to protect them.
If not for government regulation, both explicitly in complicated arcane rules, and implicitly in the form of allowing ludicrous litigation, liability, and protecting unions, then the cost of both replacing the car and providing healthcare would be so low, that a year's worth of auto insurance would cost $100.
Since it would cost about $2500 to buy a brand new SUV, and a week's stay in the hospital with all the medical attention required to address serious injuries from an accident would still be less than $3000. You could save up 4 years worth of premiums and stop buying any insurance..... thus creating a competitive downward pressure on insurance rates!
In other words, regulations created by the government are indirectly raising costs by a factor of 20000%.