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In order to be allowed to drive, you don't just have to promise to pay if you hit someone, you have to pay in advance in case you hit someone (lemmy.ca)
submitted 10 months ago by to c/showerthoughts@lemmy.world
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[–] 3 points 10 months ago

So like you can do that if you’re rich. You out $1M in a bond, or show some proof annually that you’ve got that available, and poof - that’s your insurance.

Most people can’t afford a car without payments. So insurance is there so when / if you break someone else’s car, you’ve already made those payments.

Plus some capitalistic grift for the insurance companies, of course. It’s a courtesy they’re providing you, after all.

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