Imagine a world without insurance

Insurance has a purpose, and it really does make our lives better!

WCVE-FM Transmit towers in Midlothian Virginia
WCVE-FM Transmit towers in Midlothian Virginia

You wouldn’t be able to start most businesses

Chris Leitch

Only wealthy people will own homes.

Minor crashes will cost a lot more to fix.

No one will help determine who is at fault for crashes and burns.

Cars would be on the side of the road because people can’t afford towing. The tow truck drivers won’t even come because they don’t have insurance to safely move your car.

Doctors will stop practicing medicine because they will be afraid to get sued by their customers.

Millions of jobs will be lost that support the insurance mechanism.

You wouldn’t be able to start most businesses.

Humans will have to figure out a whole new way of doing things.

People won’t get into a car with you.

But then again, you won't have to pay insurance premiums so there's that I guess...

All Heck Breaks Lose #183
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Earned Premium

Earned premium is the portion of premium corresponding to the time coverage has already been provided.