Because you convinced them that you would exercise pride of ownership.
They are not in the real estate business; nor are they interested in a second home. They invested in you. There is no more clear a way to demonstrate that you are/are not a good investment than by protecting/ignoring that investment.
Perhaps a reasonable compromise could be reached
Perhaps. Try it. But, remember...it is you that is asking them for a favor; not the other way around.
..the bank took it upon themselves to purchase insurance for the car and charge us for it..
I bet they charged you an outrageous amount for that insurance too.
As loan collateral, the bank wisely insisted the auto be protected with insurance. Rightly, or wrongly; they obviously were of the opinion that you had failed to do so.
As with every other walk in life; there are, of course, idiots and jerks in banking. That is not an indictment of the banking industry...only that individual.
The "Americans suck" and "lawyers suck" is entirely a product of your own thinking...
It is a product...an insult...an outrage by your indictment of entire industries, staffed by your fellow Americans, of being cheats & scammers.
Again I ask; if insurors are so despicable, why do you continually choose to send them money? It is your choice.
But according to you, I don't own, the bank does.
They are not in the real estate business; nor are they interested in a second home. They invested in you.
Then why do they require insurance on the home and not on me?
There is no more clear a way to demonstrate that you are/are not a good investment than by protecting/ignoring that investment.
I am not asked to demonstrate, I am compelled to comply.
I bet they charged you an outrageous amount for that insurance too.
Yes they did, and interest also.
As loan collateral, the bank wisely insisted the auto be protected with insurance. Rightly, or wrongly; they obviously were of the opinion that you had failed to do so.
OK, they made a mistake once - I can accept that, but over and over again? Come on - you can't really believe that - can you?
It is a product...an insult...an outrage by your indictment of entire industries, staffed by your fellow Americans, of being cheats & scammers.
Some of my fellow Americans are cheats, scamers and worse. If it were not so, we would have no need for prisons, police, or courts.
If insurance functioned as it does now, but was a branch of government would you think it was an honorable institution?
Again I ask; if insurors are so despicable, why do you continually choose to send them money? It is your choice.
Because I choose to drive without the potential complication of being cited and fined for driving without insurance. As far as insurance on a home, I can buy a home and be required to purchase insurance as a condition of the loan, or I can rent and pay the landlord's insurance. Its as much a choice as the IRS claiming that tax payment is voluntary..