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Personal Finance > Auto Insurance Why mandatory auto insurance is a bad idea

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How much does one spend on mandatory auto liability insurance over one's lifetime?  If you are a rancher with five vehicles, at $400 a vehicle for liability, over a 50 year lifetime, that would equal $100,000 spent on liability insurance.  If you are a good driver that means you have spent $100,000 paying for someone else's auto accidents, and he would be $100,000 better off financially if he had not bought the insurance.  Wouldn't it be a better system if those people who cause the accidents paid for their own accidents?  So the first reason that mandatory au...

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