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House insurance still exists, despite the fact that the rate of collisions caused by human error is zero. I’m sure premiums would change considerably, but “kill
by mikeash 8y ago
House insurance still exists, despite the fact that the rate of collisions caused by human error is zero. I’m sure premiums would change considerably, but “kill”?
- saagarjha 8y ago…houses are insured for different things than cars are?
- riskneutral 8y agoHome insurance is considerably less expensive than auto insurance today. If auto insurance prices fell to the level of home insurance, then it does effectively kill the industry as we know it. It’s not a very good comparison anyway, as home insurance covers a variety of perils which are often caused by human error (e.g. fire), as well as natural perils that are not really applicable to auto insurance (e.g. flooding due to plumbing issues, or roof damage due to wind storms).
- smileysteve 8y agohome insurance covers personal liability of the insured and the premises - and the rate of "collisions" is very far from 0.