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..
-The bank requires insurance on the home because it is the loan collateral.
-You begged, and borrowed money from the bank. You were not compelled.
-I can easily believe the continuous problems with your car loan, and that it was entirely their fault. Idiots usually do idiotic things everyday. Although most cars are financed, most do not encounter the problems you suffered. Your experience is not an indictment of the banking industry; only a couple of people at that one bank.
-There are some in every walk of life that are cheats. That is not, and should not be an indictment of all.
-If insurance were a branch of government, it would not function as it does now.
-As has already been clearly explained, there is no legal requirement to carry an auto liability insurance policy. There are other legally acceptable avenues to choose from. Nor do you have to borrow money to purchase a home. That, also, is a choice you make.
Again I ask; if insurors are so despicable, why do you continually choose to send them money?