Re:How not to create traffic jams: Don’t let people park for...
by pg314 on Sunday April 09, 2017 @03:08AM
(#14070892)
Interesting perspective. Now I understand what you're saying.
I think it would be dubious that private roads would require liability insurance. At present, liability insurance is only widespread because of regulation (i.e. a non-market mechanism). I do not see the economic case for the owner of the road to require liability insurance of its users.
Insurance wouldn't cover the full cost either. According to [2], total car insurance losses were $117.5 billion in 2011, compared to the $242.0 billion in economic losses cited in my previous post.
I think it would be dubious that private roads would require liability insurance. At present, liability insurance is only widespread because of regulation (i.e. a non-market mechanism). I do not see the economic case for the owner of the road to require liability insurance of its users.
Insurance wouldn't cover the full cost either. According to [2], total car insurance losses were $117.5 billion in 2011, compared to the $242.0 billion in economic losses cited in my previous post.
[1] https://www.ibisworld.com/industry/automobile-insurance.html
[2] http://www.iii.org/fact-statistic/auto-insurance