I had a beat-up old car. And I won't name the name of the insurance company, but there was a company, let's call it Acme Insurance in -- in Illinois. And I was paying my premiums every month. After about six months I got rear-ended, and I called up Acme and said, "You know, I'd like to see if I can get my car repaired." And they laughed at me over the phone.
Because really, this was set up not to actually provide insurance, what it was set up was to meet the legal requirements. But it really wasn't serious insurance.
PowerLine has a few questions about that narrative, assuming that it's true.Automobile insurance (like health insurance) is a heavily regulated industry. In some states, all auto insurance policies are required to include collision coverage. If the cost of the repairs exceeds the value of the "beat-up old car," you get the value of the car. In other states, liability insurance is required but collision coverage is optional. If you prefer to take your chances, you can choose to forgo collision coverage. Obama is a reasonably bright guy; is he telling us that he bought an insurance policy that didn't provide for repairs if he had an accident, but didn't know it?
At the very least, Obama demonstrated that he really is on another planet. Auto insurance that "wasn't serious"?
He expected what: a Continental Mark V as a free rental-car?