Overhaulin' - Don't car insurance companies take advantage of people and actually make a profit?

Don't car insurance companies take advantage of people and actually make a profit?

Should we target them for a federal government tax dollar paid for competitor? I mean its not fair for car insurance companies to make a profit either is it? The federal government could compete with them for our business like they would with health insurance.. Oh wait, wouldn't that put them out of business? We are required by LAW to have car insurance.

Public Comments

You don't need a car like you need treatment for diabetes or pneumonia.
Not a fair analogy, sorry.
When the government owns all of America, including you and me, and strips all power from the people, the government will be the only surviving business, and whatever they promote.
you have a point♥
I think it was a perfectly fair analogy. Very good point. Don't forget homeowners insurance.
You may be required by LAW to have car insurance, but you are not required by law to have a car.
Everyone knows that Edison invented the light bulb just so he could screw over people who lived in darkness... Everyone knows that A G Bell invented the telephone so he could screw over all the people who had to wait days to talk... Everyone knows that Jonas Salk discovered the polio vaccine just so he could screw over all those people who would have died from polio... THOSE GREEDY CAPITALISTS!!!! DOWN WITH ANYONE WHO MAKES A PROFIT!!!! Profits are EVIL. (I hope you all realize I am joking)
Being a bad driver is a choice. Bad drivers can choose not to drive, or they can choose to drive responsibly. Insurance companies charge increased rates to bad drivers based on demonstrated risk of injury and property damage, based on a driver's record. Following this model, insurance companies cover everyone and are profitable. Auto insurance companies do not kill people to make a profit as health insurance companies do. Being sick is not a choice. Bad choices are a very small factor in health. Nobody chose to have complications after surgery or have a disabled kid. ∠°)
Liberals hate to see anyone turn a profit. It just wouldn't be fair to those who lack work ethic and ambition.
Great point. People understand that their car insurance is for accidents and major repairs, not oil changes, tune ups and new tires. Yet, they don't understand why they should have to pay to see a doctor for a routine physical or an ear ache. I have a deductible and appreciate the importance of catastrophic insurance. I'm okay with a government plan for the truly uninsured as long as it doesn't kick in until they reach a set deductible like $5k or $10k, not every single visit for free whenever they want. Too many people will abuse it.
Very bad analogy for reasons already mentioned. If you can afford a car, you can most likely afford the insurance to go with it.
The purpose of all insurance is "peace of mind" by knowing that if catastrophe comes, those dollars spent for insurance could save thousands of more dollars. People who don't have insurance and insurance companies operate on the same principle. Both are betting it will never be needed and profit is the driving force for both. Social Security is like a government insurance program but it doesn't provide much "peace of mind". If the government is going to force me to participate in that program and take more money from me than necessary to pay current retirees, I'd much rather have the surplus deposited into an account with my ID attached to it than watch the surplus disappear into the black hole of no return called intragovernmental debt. I'd much rather have a law in place requiring individuals to purchase private health insurance over a law requiring me to trust government "insurance". I've never had a problem with any private insurer, whether auto, home or health. Every time I've needed them, they delivered, and the vehicle that allows them to do that is called profit. Profit means the money to cover will always be there The government will never show a profit; debt creation is their forte. If the government were in charge of covering the cost of my health care, I'd be very, very worried. I'd probably die before my time under the stress. That's not peace of mind; that's torment.