Minimum Car Insurance Requirements, Cost to Miss. Motorists to Increase
Southeast News • January 3, 2006
Thousands of Mississippi motorists will see a higher bill when they renew their automobile insurance in 2006.
A new law that took effect Jan. 1 doubles the minimum amount of liability insurance ...
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Subject: "so that accidents will covered"
Posted On: January 3, 2006, 7:46 pm CST
Posted By: Hal
Comment:
So, good move, Mississippi.
But now the reason for requiring liability insurance is "to make sure that accidents are paid for", so say the mandatory coverage proponents.
Hospital and doctor bills for broken leg will run a good $18,000.
Lost income for someone who cannot work with a cast on his or her leg will be, say $10,400 for a $12 per hour worker (5 months with a cast). So the total bodily injury bill of the broken leg accident is $28,000.
So how is this "paying for accidents"? It won't pay for a not-so serious injury and surely won't for a serious one.
By-the-way, the "industry recommended" $100,000 per person won't make a reasonable down payment for the bills of a pedestrian hity by a car.
As for the uninsured - the vast majority are short-term uninsured. They lose their job or they get sick, and have a choice of feeding the kid or buying insurance. They really should feed the kid. They don't stay uninsured long enough to have inforcers (police or others) track them down.
The nation runs 22% - 27% uninsured rate, depending on whose numbers and which state you look at. And the most surprising part is that it isn't much different of a percentage than it was in most states before the mandatory laws were passed.
We spend an awful lot of money inforcing something that cannot reasonably be inforced.
Subject: "so that accidents will covered"
But now the reason for requiring liability insurance is "to make sure that accidents are paid for", so say the mandatory coverage proponents.
Hospital and doctor bills for broken leg will run a good $18,000.
Lost income for someone who cannot work with a cast on his or her leg will be, say $10,400 for a $12 per hour worker (5 months with a cast). So the total bodily injury bill of the broken leg accident is $28,000.
So how is this "paying for accidents"? It won't pay for a not-so serious injury and surely won't for a serious one.
By-the-way, the "industry recommended" $100,000 per person won't make a reasonable down payment for the bills of a pedestrian hity by a car.
As for the uninsured - the vast majority are short-term uninsured. They lose their job or they get sick, and have a choice of feeding the kid or buying insurance. They really should feed the kid. They don't stay uninsured long enough to have inforcers (police or others) track them down.
The nation runs 22% - 27% uninsured rate, depending on whose numbers and which state you look at. And the most surprising part is that it isn't much different of a percentage than it was in most states before the mandatory laws were passed.
We spend an awful lot of money inforcing something that cannot reasonably be inforced.