| It's very easy for younger smart people to be anarcho-capitalists (which I take it you are), but IMHO becomes progressively harder as you age. The basic problem is that a "people know what's best for themselves" policy screws over dumb people for the simple reason that they don't. Car insurance is a very interesting thing to legislate, because although the expected value of buying insurance is slightly negative, when you factor in the economies of scale on dealing with someone else's car getting repaired (figuring out if a bill is over market, handling multiple bills, tracking any medical expenses, etc), purchasing car insurance is strongly positive EV. I think landlord insurance is similar. >> Car insurance is different, because it also covers damages you inflict on others and other people's property. Landlord insurance of course also covers this (if your property catches fire while you're renting it out, you may very well be legally responsible, if a previous renter breaks in and steals the new renters belongings you are probably legally responsible, etc). Regardless, it seems based on what you said that you might be in favor of requiring renters to buy insurance. Is this correct? |