After a major disaster, the government allows them to skate — they get out of having to pay full benefits to policy holders -- because it would be too big of a burden --- on the insurance company.
Auto insurance ‘uninsured’ and ‘under-insured’ coverage. That is ME subsidizing the car/person(s) who did damage to MY vehicle. I can't even get a renewed driver's license or annual auto tag without proof of insurance. So how/why does an ‘uninsured’ or ‘under-insured’ get away without having to carry comparable insurance?
“So how/why does an ‘uninsured’ or ‘under-insured’ get away without having to carry comparable insurance?”
Any time you purchase insurance you are guarding against the risk of a casualty occurring to you or your property.
By purchasing UM or UIM insurance, you protect yourself against the risk of being damaged by an uninsured motorist (legally or illegally, depending on the state) or underinsured motorist causing damage to you.
Your insurer steps into the shoes of their would-be insurer (or underinsurer).
It isnt enough to have a lot of liability insurance- if you are seriously injured by the negligence of an un- or underinsured motorist, you have the peace of mind of knowing you will be be compensated for your damages by your own insurer.
“Auto insurance ‘uninsured’ and ‘under-insured’ coverage.”
Don’t blame the insurance industry for that! The insurance industry did not want to get involved in such coverages. The trial lawyers (who own most of the courts and state governments in America) had the state legislatures create legislation to force the insurance industry to provide such coverages, obviously so that they (the trial lawyers) would be able to collect money from a deep pocket where they couldn’t from an uninsured or underinsured tortfeasor. Believe me, if there were not laws ordering the insurance industry to provide uninsured and underinsured motorist coverages the insurance industry would drop those coverage in a heart beat, because they (the coverages) are financial losers.