Yesterday I wrote about how my friend is frustrated with UGI insurance company and from the comments, there are hundreds if not thousands who are frustrated with Malawian insurance companies. But do we need compulsory Motor insurance in Malawi? I would say we don't and here is why. I understand the idea behind compulsory Motor Vehicle Insurance is that if you are involved in an accident when you don't have money to fix the other car (especially when you are the one who is wrong), insurance companies should be able to come in and fix it on behalf of the client. But over 90% of such accidents are settled without involvement of insurance companies, in cases where they are involved, they play hide and seek. So, what's the point of compulsory Motor insurance? We don't need compulsory Motor Vehicle Insurance because:

1. Insurance companies do not come to our rescue at the time we need them. In short, they are robbing us and this robbery is supported by the law. 

2. Compulsory Motor insurance contributes to inefficiencies in the insurance industry because insurance companies know that regardless of how they treat us clients, we will still go them at the end of the day and therefore they don't care.

It's high time we as citizens take a stand to end compulsory Motor Vehicle Insurance in Malawi. Things are tough in Malawi and the last thing we want are laws that help companies take free money from citizens. Take your few seconds to sign the petition below to end compulsory Motor Vehicle in Malawi.