Why is auto insurance mandatory?

greencloth
Sun, 08 Jul 2007 02:45:45 +0000

I guess auto insurance is necessary to provide people with a way to pay for damages when they are responsible for an accident and do not have enough personal savings to bail themselves out. It’s probably true that, given that people realize they will be held solely responsible for financial recuperation, the number of accidents would go down. However, accidents would not completely disappear. I think it’s better to have all people prepared, rather than have some be able to pay thousands of dollars in damages and the rest sent to jail or left to live in a financial nightmare scenario for the rest of their lives.