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Quebec has quite an interesting system. Everyone must pay in the same national car insurance. You are unable to sue anyone for what happened to you on the road,
by jeromegv 6y ago
Quebec has quite an interesting system. Everyone must pay in the same national car insurance. You are unable to sue anyone for what happened to you on the road, if you get hurt, the insurance pays you a standard amount for the injury and that's it. So it overall reduce the burden on the court system and the insurance self-finance itself, there's no need for profits. Quebec has the lowest cost car insurance in Canada (and may be North America?)
- MereInterest 6y agoOh, interesting. I expect this is also easier in a country with single-payer health care. In the US, the majority of the cost of car insurance is for long-term medical care that may be needed after a crash.
- andylynch 6y agoNZ does the same thing for accident insurance of all kinds. Not perfect but generally works really well. The insurer does a huge about of work in accident prevention and even covers visitors accident, even ones like ski injuries. Makes it really easy to do sport there and great for public health as a result.
- eru 6y ago> So it overall reduce the burden on the court system and the insurance self-finance itself, there's no need for profits. Profit is seldom a significant part of costs. Slate Star Codex went into that quite a bit in the context of healthcare. Cost explosions usually come when controls on costs are missing. Competition can be one way to control costs, but it's not the only one. Eg tap water in most places or the Quebec insurance you mention are low cost, too.