Larry's got it pretty much on the nose. If you were to throw in a huge government program to cover car damages you could see where it would end up.
When I was a kid, medical insurance was for total disasters, and everything else was simply billed like the electrical bill. My own birth was in a hospital, and my dad paid cash. And he was not anywhere close to rich. Now people get pissed if they have to pay ANYTHING.
Anyone who has gone to some body shops and seen the difference between "cash" and "insurance" estimates can see the market process in action. I actually had a guy "rework" the estimate, padding like crazy, right in front of me when he found out insurance would cover my expenses instead of my paying cash. He wasn't even embarrassed about it.
Off Topic » in reply to How much would your car insurance cost...
Re: How much would your car insurance cost...