Determining and defining the meaning of law on a personal perspective is easy. In common parlance, it is understood by many as to what the legislatures write down and publish for the public to read and follow however, living on its consequences is not as easy as one two three.
One part of the different laws that are enforced in the US and to different nations across the globe are mandatory insurance levels to be enforced to all private citizens who are using their vehicles on the road. Applicable to all and without no exception-almost without exception, all states now have laws making a driver guilty for a crime if he drives a vehicle on a public road without having with him/her a valid policy in force. With law enforced, all drivers are given a one common and simple choice. The choices are divided into two: either carry the minimum insurance, or carry the risk fines. In some other cases, carrying the risk fines especially in some other states, involves the confiscation of the vehicle itself.
These laws are still beneficial to the public mainly for the reason that it serves as a compromise between the interests of drivers and the interests of people, who may be injured in traffic accidents or in cases of collision.
The more appropriate concept as the personal responsibility is the Libertarian view. It is emphasized in this idea that if you do something, you should be prepared for the consequences of such act. Let’s say for example, a driver having enough cash in the bank to pay out every time their driving injures someone else or damages their property. Citing as an example, suppose you were walking along the sidewalk and a car knocks you down. Mandatory insurance is always used to secure money to pay out to you as the innocent victims and grants you the benefit of not paying for your own medical costs.
On the other hand, even if most people agree to this idea, still a problem exists. Most people agree this is a good idea but there’s a problem. Like for example, Wisconsin increased the mandatory rates both for liability insurance and for insurance against uninsured or underinsured drivers. As a result, companies lost a lot of their capital reserves.
So for buyers, it is most highly advisable to assess the maximum number of auto insurance quotes in the market before planning to buy one.