Charon
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Actually, I do not think of insurance as protecting others from my negligence. I think of insurance as protecting MYSELF from others who may claim I am negligent (whether or not I am actually negligent).
I have long felt the auto insurance industry is misguided. Yeah, I know they are in the business not for my benefit, but for their own and their stockholders. I think I should purchase a single liability policy which would cover me no matter what vehicle I drive, instead of having to purchase several policies - one for each vehicle. After all, I can only drive one at a time. Then I should be allowed to purchase, separately, such insurance for the vehicle itself (collision, comprehensive) as I should feel necessary. Nebraska requires purchase of uninsured/underinsured policies. I rather thought that was the purpose of collision insurance and medical coverage, so it seems to me the uninsured/underisured coverage is duplicative.
My brother lives in Florida. He tells me that, technically, he does not have to have insurance at all on his motorcycle, so he doesn't. I called my agent, in Nebraska, who told me that none of my policies cover me while riding his uninsured motorcycle. This, to me, is absurd. Given that what my brother says is true, what happens to him should he be involved in a (survivable)crash outside Florida?
I personally believe the auto insurance industry requires some review, even though in general I dislike additional Government regulation. Note that the lack of Government regulation is alleged to have led pretty directly to the present financial crisis.
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