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As a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃
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this post was submitted on 29 Oct 2024
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Which is ignoring the problems inherant to auto insurance, which is fundamentally a greater force in the price/cost of car insurance than the danger of cars.
Yes, cars can be dangerous, but that's not why car insurance is expensive, it's expensive because car insurance companies have a completely captive market in the US- one that must pay whatever the insurance comapny dictates.
As a result, they set the price as high as they can get away with, and then refuse to actually pay it out anyway.
Don't make excuses for the insurance companies. The risk is the whole point, and certainly does not excuse their gouging.
You'll notice other countries do not, in fact, have to deal with this level of price gouging, which implies it's nothing to do with the cars themselves- it's just the insurance companies, and it always has been.
The risk is the point though. High risk activities will cost more to insure because they'll need to be paid out more often. Couple that with the high destruction possible, and you have frequent accidents that can all cause very expensive damage, necessitating a high base price for insurance.
The price gouging is just capitalism, and I doubt anyone here is going to argue that capitalism isn't bad.