You're suggesting something like a fire insurance that you can buy when your house has already burnt down?>
No, it would be like buying fire insurance during a small fire that would only payout if your house burned down completely. The insurance guy would arrive, examine the fire, and determine that it had a 90% of being stopped with most of the house intact, and a 10% chance of destroying everything. Then, he would calculated how much you would need to replace your house in the case of complete destruction, and model the premiums accordingly.
>The last 10 years there have been double-digit increases in the amount of people who have such insurances, so it's really something of the last decade.
But the poor are going to be the last people to get such insurance.
No, it would be like buying fire insurance during a small fire that would only payout if your house burned down completely. The insurance guy would arrive, examine the fire, and determine that it had a 90% of being stopped with most of the house intact, and a 10% chance of destroying everything. Then, he would calculated how much you would need to replace your house in the case of complete destruction, and model the premiums accordingly.
>The last 10 years there have been double-digit increases in the amount of people who have such insurances, so it's really something of the last decade.
But the poor are going to be the last people to get such insurance.