For those of us that drive, we know that insurance is a necessary evil. We’ve all heard the phrase “driving is a privilege, not a right”, and insurance is basically the glue that holds that together. The reason being, is that for many it is difficult to afford. Even with the advent of the Internet, and different companies from which to choose, it is still a prohibitive cost for lower income families.
Unfortunately, in many cases driving is not actually a privilege, but a necessity. Many parts of the United States are still relative rural, and if not rural, still pretty spread out. So this creates a need for motor vehicle transportation in order to maintain the pace of everyday life. But the problem extends even beyond affordability.
What are you actually getting?
When it comes time to assess the actual value of insurance, the problem begins to present itself. The base insurance that most people have on their vehicle only cover damages to property, but not actually the person or the vehicle itself. So what this essentially does is cover people if they damage property, but in reality does nothing to protect them.
In my opinion, as an insurance expert, it is time to re-evaluate the way in which we distribute insurance. Much like health insurance, motor vehicle insurance is something that everybody should have access to. At very least in areas in which driving is a necessity, not a luxury, to take the burden off of the poor that need to drive.