Mandatory insurance is a recipe for disaster. Compare the cost of insurance in countries where it is mandatory to the cost here, and you will notice that ours is some of the cheapest in the world.

If you give private companies a captive market, prices will go up.

[–] dumblederp@aussie.zone 7 points 1 year ago (1 children)

In Australia, third party medical insurance is rolled in with the cost of vehicle registration and the money goes to the Transport Accident Commission to pay for accidents and what not. If the insurance was mandatory, it could be handled by the government to prevent market abuse.

[–] eagleeyedtiger@lemmy.nz 2 points 1 year ago (2 children)

By any chance do you know which countries have mandatory third party car insurance? I'd like to find out a bit more

[–] Ilovethebomb@lemmy.nz 4 points 1 year ago (1 children)

UK and some US states do. Maybe Australia?

[–] eagleeyedtiger@lemmy.nz 3 points 1 year ago (1 children)

Ah thanks I'll read up on it a bit later.

[–] Ilovethebomb@lemmy.nz 4 points 1 year ago

Insurance costs for new drivers in the UK are notoriously high, especially young men, to the point where insurance can be more than the cost of the vehicle.

[–] Bee_R@beehaw.org 3 points 1 year ago

romania