[longtermmemmory]

Folks keep in mind, insurance is MANDATORY in many situations.

For example, in FL you MUST have auto insurance so the insurance companies have a captive market.

Insurance is not a free market product. In fact it is highly regulated because of past games with the insurance companies which literally wrote polices which stated your insurance is automatically invalid if you actually make a claim.

[RockinRight]

You also can't get a mortgage on a home without insurance.

[CharlesWayneCT]

You mean people were stupid enough to buy insurance that would be invalid if they needed it? Where can I find people like that, I've got stuff I could sell them.....

[gcruse]

"insurance companies which literally wrote polices which stated your insurance is automatically invalid if you actually make a claim."

I'd love to see a cite for this. Or is it just hair-on-fire hyperbole?

[secretagent]

Folks keep in mind, insurance is MANDATORY in many situations.

For example, in FL you MUST have auto insurance so the insurance companies have a captive market.

Policemen: armed insurance agents.

[Freedom4US]

"Folks keep in mind, insurance is MANDATORY in many situations.

In the case of auto insurance, do you know who the biggest opponent of "mandatory" auto insurance is? Yep - insurance companies. This sounds counter-intuitive, but it's not. The reason is partly because there is always a certain percentage of drivers who will never get automobile insurance regardless of what the law is. Or, they will pay for one month and then renege on the rest. It's just a big headache and costs them more than it's worth.