Instead of paying for auto insurance, Peter said, he could put his dollars into a separate savings account to pay for any claims that may arise.

"What about bodily injury costs? That could cost you mucho dinero," I said.
"Medical payments could be be built into health insurance plans," Peter responded.

Now, I'm not suggesting that auto insurance shouldn't be a motorist must, but it's interesting to think of the alternatives. Because the reality is, uninsured motorists cause my car insurance to go up, and the one time I had to file a claim, my clothes had gone out of style before I got the money to repair my car. Simply ridiculous, I say.

Nonetheless, however, I carry extensive auto insurance for liability, UM/UIM and the [ridiculous] coverage my lender requires me to carry. I carry this coverage because I'm: A. paranoid, and B. required to.

But I digress. Although I don't think you can technically "digress" if you don't have a point to get to. Because I really don't have a point. I, like Mike over at Mike the Actuary's Musings, grapple with whether or not auto insurance should be mandatory. And, while I'm leaning more towards the "yes" side of the fence, I'd be interested to hear the thoughts, ideas and alternatives that other people are coming up with.

So let us know what you think. And check out Mike's "musing" on auto insurance requirements here to get the brain train rolling.