Governmentize auto insurance?

[john70t]

So once again I am forced by the government to pay a huge auto insurance bill, and have realized that someone elses car/person is better protected than my own body: national health care is not an option at this time(good thing that chunk of rust in my eye yesterday is gone).

So, while Michigan is in the midst of a budget crunch dues to partisan Republican tactics........the CEOs of auto insurance companies have to sweat whether or not they get a one or two figure $million bonus this year. Why not skip the middleman and put the excess money from the industry back into the hnds of the taxpayers?

Or, better yet, not have the government force me to pay thousands of dollars per year for expensive plastic bumpers and reckless drivers.
I've never caused an accident in twenty(20) years of driving, yet insurance rates are allowed to base a drivers rate more upon the zip code and credit report than driving record and vehicle size.

Before the cookie-cutter responses of "big-gubment" are posted, think if those people blinked an eye while the feds dug through phone records, library cards, and peoples houses.......all without warrents?
Nope. Big 'gubments already here to stay thanks to ya'll.
Could the government do any worse a job returning mail-in rebates, having english-speaking customer service, or fuffilling an agreed contract without hidden fees and sub-contracting it?

[widebody911]

Personally, I think insurance should be 'no fault' - your insurance covers your own ass, irrespective of fault. Buy as much or a little insurance you think you need. It would cut down on the ambulance chasing as well.

[Superman]

Insurance is the caricature of what is wrong with our "survival of the fittest" economy. First, that we need to buy a sense of security in the first place.

But mostly, I'm thinking the insurance industry is purely financial. It's actuarial. It is simply a pile of money that underwrites expected expenses. No insurance company can build any real advantage compared to another. This would be the PERFECT industry to take from the private sector. It's like a private bank versus a credit union. Credit unions do not have to pass part of your cash to third-party corporate stockholders. So, they can offer better interest rates. Banking and insurance have that in common. They are simple calculations, and a pile of money to pay future expected commitments. If the public were a young married couple that could not afford to self-insure then I'd say fine, go ahead and let a profiteering company sell you that service for a bit. But we're not a poor young married couple. We could underwrite this ourselves, and cut out both the middle man, and the separate "owner."

Of course, many will argue that the gubmit would screw that up, and that there would be only lazy, useless workers doing the work. I guess that's in contrast to the helpful sensitive and caring workers in the private insurance industry.

[pwd72s]

Originally posted by Superman
This would be the PERFECT industry to take from the private sector.

Tell me Super, is there an industry you don't think is perfect for the government to take over?

Venezuela seems to be falling right into your idea of a perfect government...nationalize EVERYTHING. And why not? It worked so well for Cuba...

[on-ramp]

Insurance is a corporate America made Scam. it doesn't get any plainer or simpler than that.

[Superman]

Caricaturizing liberals is a cute way of evading the questions. If you exaggerate your enemy, then you can pretend there is no serious dialogue, and no relevant/legitimate ideas to oppose your own.

Paul, I honestly do believe in Capitalism to a large degree. Larger than you probably think. Most industries belong in the private sector. Insurance and other commodities and utilities....do not.

Here's a funny thing. At least, it would be funny except that it's true and it might work. The insurance industry is opposing Washington State efforts at tort reform. Guys, the insurance industry is not opposing tort reform because tort reform is not in YOUR best interest. It has more to do with the conflict between their interests and yours.

[Rearden]

After an unlicensed and uninsured "undocumented" woman backed into my Porsche a few years ago, I started to think that there had to be a better way than the current insurance system.

[legion]

You all think your rates are bad now? Let the government take over and then see what happens...

Of course...we will be perpetually told that it will just take more time and taxpayer money to bring our rates down.

Insurance is the perfect industry, as premiums are very closely matched to risk. The question is not: "Why is Company XXX charging me so much?", but: "What have I done to make my rates so high?"

Do you live in an area with lots of accidents or rampant insurance fraud?

Do you drive a car model that is frequently stolen? Is expensive to repair? Can be totaled by seemingly minor damage?

Even the type of coverage you request correlates with rates. Often times, full coverage is cheaper than minimum coverage because those who request minimum coverage tend to get in more accidents....

[legion]

Originally posted by widebody911
Personally, I think insurance should be 'no fault' - your insurance covers your own ass, irrespective of fault. Buy as much or a little insurance you think you need. It would cut down on the ambulance chasing as well.

Funny thing is, states with no fault have the highest premiums of all. It takes personal responsibility out of the equation. It also turns into a playground for trial lawyers, insurance fraud, and medical billing fraud.

Get on any insurance website and get a quote saying you live in Minnesota, Florida or Michigan.

Then enter exactly the same information but give an address in Illinois on any non PIP/MPC state.

[Howard Agency]

In a perfect society you wouldn't need insurance. The government should protect you from financial loss and discomfort. It should see that you have a decent place to live, affordable food and clothing. Proper education and medical care, of course, but don't forget affordable gasoline.

Religion won't be necessary because we'll have Utopia right here on earth.

Has anyone tried this?

[pwd72s]

Originally posted by Howard Agency
In a perfect society you wouldn't need insurance. The government should protect you from financial loss and discomfort. It should see that you have a decent place to live, affordable food and clothing. Proper education and medical care, of course, but don't forget affordable gasoline.

Religion won't be necessary because we'll have Utopia right here on earth.

Has anyone tried this?

Bravo! Venezuela anyone???