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Bold of you to assume that insurance would prevent you from becoming bankrupt. In my state (and many states) you're only required to carry $10k in liability in
by kerkeslager 3y ago
Bold of you to assume that insurance would prevent you from becoming bankrupt.
In my state (and many states) you're only required to carry $10k in liability insurance. That's barely going to scratch the surface of paying for a car accident which causes serious injury. Add to this that most people who experience bankruptcy due to medical bills have health insurance[1] as of 2019, and it's clear that driving already is a potentially bankrupt-able activity. In fact, living is a potentially bankrupt-able activity as long as we insist that health insurance companies have to be a part of our medical system.
The economy ground to a halt for the poorest Americans at least a decade ago.
[1] https://www.theguardian.com/us-news/2019/nov/14/health-insurance-medical-bankruptcy-debt https://www.theguardian.com/us-news/2019/nov/14/health-insur...