Episode 321: Space and Property
Words & Numbers
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The Role of Government in Raising Insurance Rates
When insurance was optional, you could elect to have it or not. But once it's mandated, everybody needs to have it and that affects the price of insurance. The government came in and said, we do hereby reduce the risk by demanding everybody carry the insurance. And then you end up with these things called the high risk pool, where uninsurable people fall under different rules. I think maybe it'd be better if they didn't but that's another fight for another day.
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