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> I would much rather a more government-backed system, where the government tallies all the automobile-related accident costs at the end of the year and foots t
by fr0sty 14y ago
> I would much rather a more government-backed system, where the government tallies all the automobile-related accident costs at the end of the year and foots the public the bill.
This is pure Moral Hazard. If any cost you may incur is diluted over a pool of over 100,000,000 other people what do you care that you smash up someone elses car? Every $1,000,000 of damage costs you less than a penny. And if you put your car in a ditch the government (read: other people) will buy you a new one and you don't pay a dime...
- dougk16 14y agoThe same risks exist with the system in place now (insurance fraud), and will exist with really any system. The mechanisms for mitigating these risks seem rather obvious. If someone runs their car into a ditch, you do some reasonable investigation to see if it was legitimate. If someone continuously gets into suspicious accidents, they're on their own and have to pay private insurance or stop driving. Edit: not to mention the health risks of purposely smashing up your car :)