Insurance at Gunpoint is Sick and Evil, by Eric Peters

Insurance has become an offer you can’t refuse. From Eric Peters on a guest post at

There is nothing wrong with insurance … provided you can say no to it. Then it’s like any other thing you choose to buy.

Whether it makes sense to buy it – a subjective value judgment, by the way – isn’t the point. Exercise makes sense, too.

The point is – or should be – if insurance is something you want, or feel the need of – then you have the right to choose to buy it.

What you haven’t got is the right to force others to buy it – and thereby take away their free choice.

Insurance at gunpoint is dark and vicious. Anything that involves pointing guns at other people (who haven’t pointed a gun at you first) is necessarily a dark and evil thing. Someone – it doesn’t matter which specific individual does the wet work – is threatening to harm you unless you hand over money for something you do not wish to buy.

In ordinary language that’s a mugging.

Insurance at gunpoint is also an economic disaster. Not for the insurance company – which is really a mafia, because it uses force to coerce people to buy its services. It makes people an offer they can’t refuse. The insurance mafia makes a fortune. But the people who are forced to buy “coverage” get screwed.

Does this even need elaboration?

What happens to the price of anything when “customers” can’t elect not to buy that thing? Sure, there are different insurance “families.” You can “shop” the Gambinos (GEICO) or go with the Genovese (Allstate).

But you can’t say no.

To continue reading: Insurance at Gunpoint is Sick and Evil



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