>And everyone should stop driving fossil vehicles starting now. [...] There’s no excuse not to. Isn't there? Right now for me to own a Ford Mach E, a Tesla Model 3 or a RAV4 Prime is $3400 to $3700 per year for comprehensive insurance, $1400 a year for liability only. My SUV right now costs $1100 a year to insure comprehensive, but even a 2021 Acura NSX or Jaguar F-Pace is only $1400 for the same level of insurance t…
>>$3700 per year for comprehensive insurance, Bit of an aside - how is American insurance so stupidly expensive. Here in UK I have a brand new Volvo XC60 PHEV, £60k, 400bhp car, in one of the highest insurance groups(like group 45 out of 50), I'm 30 years old and my fully comprehensive insurance is £400 a year. That's including 20 million liability limit, legal cover, courtesy vehicle, key cover.....etc etc. Yeah whe…
This is the most noticeable difference between US and UK.
Cars here generally have perhaps $300,000 liability, perhaps $500,000. I have $1,000,000 but larger number is covered by an additional "umbrella" policy that includes liability for multiple cars and also my house.
I imagine there are much greater limits for the likes of Bill Gates. But not commonly for the ordinary 99%. Also, despite auto insurance being legally required, probably 10% or 20% don't have it. They don't care, they have no assets, so they're "judgement proof". There are never any serious criminal consequences for this.
Ordinary people can protect themselves against uninsured drivers by adding additional coverage for that to their own insurance policy. In effect, if you have an accident with an uninsured driver, your own policy pays out whatever liability that driver would owe you. This added coverage is not all that expensive.