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> but of course there are laws about insurance In the U.S. at least, you don't need to insure your own car. You just need liability insurance that will pay out
by muskox2 5y ago
> but of course there are laws about insurance
In the U.S. at least, you don't need to insure your own car. You just need liability insurance that will pay out to someone else if you're at fault in an accident.
- antognini 5y agoIt's usually possible "self-insure," too. Basically, you put up some amount of money (of order $30-50k) to the DMV as a surety bond. Then if you're held liable for an accident the state doesn't have to worry about you paying up because they already have the money.
- SilasX 5y ago$50k is comically insufficient to cover the damage you can do in a car in a single incident, though, and such a bond is a limp assurance at best.
- dehrmann 5y agoI wonder if there should be a per-vehicle cap on damage where a vehicle is so expensive that the owner insures it for any damage over some amount, say $60,000, or the 95th percentile new car sale price.
- UncleMeat 5y agoDamage to vehicles isn’t the problem. The tail is hitting a car full of surgeons and ruining their careers so you are paying out gazillions in personal damage.