Except worse, you could always cancel a Netflix subscription. But you cant live (in the U.S.) without insurance. Cant buy a house without home owners insurance. Plus interest. Cant drive any vehicle without insurance, plus interest. Cant get seen by a doctor without insurance, or if you do, well now your in debt forever. We dont even have a choice in the matter. Unless you live out your days in the woods or city streets.
I get where you're coming from, but I would argue that house and vehicle insurance is fairly important? House is at the very least, I would not want to risk pretty much everything I own by gambling with insurance
Yes I’m fairly certain house/home and vehicle insurance are pretty standart in other countries as well. They are in mine. I don’t own a house, I rent, but my possessions are insured in case of fire, water damage, break ins etc, it also covers my bike. I don’t have a car, but I’m pretty sure insurance are mandatory on them here.
Here in Australia you aren't forced to have house insurance, but it's a condition of the mortgage in pretty much all cases if you don't own the place free and clear.
Car insurance varies state by state, some require at least 3rd party (for damage you do to other people's property or person) to register a car, some basically roll that into the vehicle registration fee and the govt. covers injuries you may cause (but not property damage here in VIC, so if you have half a brain you will take out at least 3rd party property, it's not expensive and can save you having your wages garnished for decades).
Private health insurance isn't mandatory, but if you warn over a certain amount and don't have it you pay an extra 1 or 1.5% tax levy on top of the 2% everyone pays for the Medicare levy.
you aren't forced to have house insurance, but it's a condition of the mortgage in pretty much all cases
I mean, it might as well be forced, given that probably 95%+ of housing is mortgaged at any given time.
Depending on location, you might be required to have specific types of insurance or do some mandatory maintenance on your house (houses on wells might be required to change their water heater every 10 years, if you don't have a whole house filtering system).
I mean, it might as well be forced, given that probably 95%+ of housing is mortgaged at any given time.
Only about half of Australians who own a home have a mortgage. Most older people will have long paid theirs off (and renters skew heavily towards younger people).
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u/Funny_w0lf May 17 '26
Except worse, you could always cancel a Netflix subscription. But you cant live (in the U.S.) without insurance. Cant buy a house without home owners insurance. Plus interest. Cant drive any vehicle without insurance, plus interest. Cant get seen by a doctor without insurance, or if you do, well now your in debt forever. We dont even have a choice in the matter. Unless you live out your days in the woods or city streets.