[jopsen]

How many times have your house burned down?

Events worth insuring against are so rare that you can't use experience from the last time to pick a better insurance company.

Hence, why the market is regulated.

Actually, I think my both renters and auto insurance contains a legal assistance insurance component, which is probably useful if I need to sue the insurance company :)

(I'm not sure it's as large as it ought to be, but the idea is nice)