Defund the Police!
As a libertarian, we are often asked how might things work in a libertarian world. The “Defund the Police” movement is an excellent example of what could be done.
Insurance Is the Solution
In today’s world, insurance is not an option for the majority of us. Insurance is a necessity that we use to manage our risks. Own a vehicle and you are required by law to have insurance to operate the vehicle. That protects us and others against the risk of operating motor vehicles.
Purchasing a home and you are going to have homeowner’s insurance. This protects us from losses with our home that we would not likely be able pay for out of our own cash reserves.
The Impact of Defunding the Police
The effort to defund the police, is going to have a negative impact on crime in those areas. Break-ins, fires, looting and other mayhem that are covered by insurance means that insurance costs will be rising.
The risks to property that is owned by the residents will be at a greater risk of loss than in other areas which still have adequate police protection.
Insurance Commissioners Need To Act
The insurance commissioners of those states that are most affected need to make sure that those cities that have defunded the police do not pass their costs on to the insured in other areas, but that those cities bear the full burden of premium increases needed to cover future claims.
Insurance Premiums Need to Rise For Defunded Cities
Once the residents begin receiving their updated costs for insurance, and are told the reasons why, they will rapidly be seeking to re-fund and reestablish police protection for their communities.
That’s how this problem should and could be addressed and addressed immediately as many of these problems have been going on for more than three months.
Approximately 1/12 of homeowners renew their policies every month. One sixth of all automobile owners do the same.
The growing chorus of residents who have had their rates rise dramatically because of the higher risks in those areas will shift the dialogue and do so rapidly.
It’s all fun and games until it costs you hard earned cash out of your own pocket. The fun and games will end and adults can resume addressing the real issues.
That’s what would happen in a libertarian world.