I'm talking about the government mandated car insurance you have.
Take a look at the premiums you pay. How much? Go ahead, look. I'll wait.
OK, it should be about $300 per year.
It's not? Why? Because if you get injured in an accident the health care costs are so high? No that's not it.
Because car repairs are so spendy, and if it's you're fault, it's twice as much (not to mention what it would be if you smack a Lexus - YOW)? No that's not it either.
It's because the Trial Lawyers want the right to sue when there's an accident.
That's right, the premiums you pay just go to pad the ins companies' law suit fund, because no matter how much they pay out, they're going to be sued. Even if they win, the cost of the law suit is astronomical. Your premiums don't really protect you at all. If you cause an accident that hurts someone, you and your insurance company (because they are the deep pockets party) are going to be sued.
Why bring this up now? Well, if states would pass no fault insurance, and limit law suit payouts, your insurance premiums would be about $300 $400 per year.
Do the math, would you spend the extra money, oh I don't know, buying a new car, TV, or BluRay player?
Can you say 'stimulous'?
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1 comment:
Why do governments hate No Fault?
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