Originally Posted by Eric5273

Exactly my point. As for auto insurance, it is only required to have very minimal liability insurance. You don't have to get collision to cover damage to your own vehicle. But I would imagine that most X5 owners pay the extra money and do get collision and probably also get extended liability to cover their assets. And most years, you do get "ripped off".

How about life insurance. Now there is a kind of insurance that you hope to never make a claim for.

My point is that it would be nice if we didn't need to have insurance and if such services were provided profit-free by the government. We could all pay into a pool to cover everyone, and if there was a surplus one year, instead of that money going into the pocket of insurance company executives, it would be carried over to the next year and we would have lower taxes the next year.