Car insurance in America is surprisingly cheap, but the consequences can be devastating. In a tragic accident in 2010, Eric DuBarry and his son Seamus were hit by an elderly driver, resulting in Seamus’s death. The hospital charged the couple’s insurance $180,000 for his care, leaving them with $4,500 to pay out of pocket and no coverage for time off work. The driver’s insurance only covered $100,000 per victim, leaving the DuBarrys struggling to cover the costs. This highlights the issue of low liability coverage in Oregon, where the minimum required insurance is just $25,000. This story emphasizes the urgent need for reform in car insurance policies to prevent such financial devastation in the future.
2024-01-18 10:02:48
Source from www.economist.com