Jeff Smith, in his rather uninformed complaint about the increasing costs of automobile and other insurance, misses the major point. A person should carry insurance and hope that his company is never called upon to pay a claim for him. He should not expect to get back what he puts into the premiums.
If he was financially able to pay for any ”damages” that he might be called upon to pay, he would not have to have insurance. I carry auto and other liability insurance because if I should be involved in an accident I do not want the trouble and expense of finding a lawyer and arranging for my defense, etc.
With the increasing liability verdicts being handed down, and the unreasonable legal costs involved in such cases, I want to have a reputable insurance company and its experts handle such a situation. And I hope it never happens. The insurance companies earn their money, more today than ever before.
