4 ms·
Many state minimum insurance limits are laughably low. Like $30,000.
by supertrope 9mo ago
Many state minimum insurance limits are laughably low. Like $30,000.
- potato3732842 9mo agoGood. Auto insurance suffers from the same cost spiraling principal-agent problems as healthcare. I think states that nudge but don't completely require insurance have it right (I live near one of them). Even though most people have insurance the plausible threat of having to actually litigate against someone and attempt to collect seems to put huge downward pressure on everything saving even the insured people a ton of money more than offsetting the "risk" of sharing a state with uninsured people. Having laughably low minimums is the next best thing.