AMEN - Why in the world is it any business of the state if you are financially capable of handling a CIVIL claim? Answer. It's none of their damn business. People are so willing to cede power to the state it makes me ill. This is what I want from my state - not a damn thing. Mandatory insurance, especially AUTOMOBILE INSURANCE, really chaps by butt.
I can maybe see an argument for mandatory flood, hurricane or other natural disaster insurance. Because, when people don't have it, the GOVT. ends up footing the bill in a big piece of disaster relief legislation. But the GOVT has never, to my knowledge, bailed out someone because they totaled their car - although they may just be on the horizon with this new bunch of White House morons we've got.
Spot on. To make matters worse, adding dangerous and/or previously uninsured drivers to the population of policyholders makes everyone’s premiums go up because they are a higher risk! So in essence safe and/or longtime policyholders are ‘bailing out’ the latecomers and miscreants.
Insurance companies don’t hire dopes - they have armies of actuaries who know exactly what they are doing to keep the financial needle steady. Governments, on the other hand, have a surplus of rubes who confuse State Farm with the Holy Catholic Church and jump when they are told to jump.