As I am prone to do, I question the actions of the humans on Earth. One of the mysteries of American society is the concept of insurance
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1. Do you have insurance? If so, for what and why?
I have automotive liability insurance, which is required by law in the state of New Jersey (and most other states of the US). I have renter's insurance, which is required by the conditions of my lease. And I've got a modest life insurance policy... I forget why.
2. Would you voluntarily get insurance if it were not required? I hear some types of insurance, such as automobile insurance, are required by law in some states. I have also researched the necessity of loaning institutions in requiring insurance in order to protect the collateral and hence the investment. Barring laws and such, would you even purchase insurance?
Auto insurance is somewhat of a special case. Most states require all drivers to have liability insurance; if my driving causes injury or damage to another person, my insurance pays their claim, rather than them having to bring a lawsuit against me. (When my car was newer, I also had collision insurance - if my car was damaged, the insurance will pay most of the cost
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I have auto insurance. It is required in my state, MA, but I have more than is legally required. I used to have tenants insurance when I rented an apartment, but I just purchases a home and now I have home owners insurance. While banks do often require it, in my case I didn't get a bank mortgage so I didn't need it - I wanted it. I also have health coverage, a form of insurance, through work. Along with disability insurance. I have never had any trouble getting insurance
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I have automotive liability insurance, which is required by law in the state of New Jersey (and most other states of the US). I have renter's insurance, which is required by the conditions of my lease. And I've got a modest life insurance policy... I forget why.
2. Would you voluntarily get insurance if it were not required? I hear some types of insurance, such as automobile insurance, are required by law in some states. I have also researched the necessity of loaning institutions in requiring insurance in order to protect the collateral and hence the investment. Barring laws and such, would you even purchase insurance?
Auto insurance is somewhat of a special case. Most states require all drivers to have liability insurance; if my driving causes injury or damage to another person, my insurance pays their claim, rather than them having to bring a lawsuit against me. (When my car was newer, I also had collision insurance - if my car was damaged, the insurance will pay most of the cost ( ... )
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