Posting this article about a car wreck in Japan that messed up a bunch of Lamborghinis and Ferraris (click) on an expensive cars outing probably proves that I’m a socialist commie liberal who hates the rich and wants to see them come to harm, but a couple of points are in order.
1 — The people who own these cars are rich and can afford it.
2 — Because they are rich, and own expensive cars, they all have most certainly have maximum insurance, which means that someone else, not the car owners, will ultimately pay the damages. The way insurance companies have gone international, and spread risk through overlapping systems of co-insurance, which is the insurance that insurance companies take out to cover their own larger losses, it is entirely possible that the cost of these wrecks will raise the premiums you and I pay to our local insurance companies.
It is poor people who can’t afford car insurance, or thrifty people who own cheap cars, who pay the most in car wrecks because they can’t get others to pay the costs for them, while the owner of the expensive car who ran the red light and smashed into them walks away relatively scott free, most of their cost spread among other premium payers. I speak from experience.
Socialized car repair. Gotta love it.