09-04-2015, 11:31 AM
(09-04-2015, 11:26 AM)bfine32 Wrote: I have no idea how folks can have insurance on the cars and home; yet, refuse to take out insurance on their souls. You might not ever need any of them, but it gives me peace to have all of them insured.
I already told you why. They are required to have insurance on their vehicle by the state. This is not a choice in almost all cases. There are a few states that allow you to pay a yearly fee to be exempt from having insurance, however that fee is nearly the same as the cost of insurance.
You are further required by your bank to have physical coverage on the vehicle when you have a loan on it. There is a very high proportion of people that drop that coverage when they pay off the vehicle.
You are comparing a requirement with a choice.