It isn’t just health insurance about which President Obama has trouble telling the truth. There’s automobile insurance as well.
As John Hinderaker reported last year on the Powerline Blog, during the “Health Summit” in February, 2010, Obama said the following:
OBAMA: You know, when I was young, just got out of college, I had to buy auto insurance. I had a beat-up old car. And I won’t name the name of the insurance company, but there was a company, let’s call it Acme Insurance in — in Illinois. And I was paying my premiums every month. After about six months I got rear-ended, and I called up Acme and said, You know, I’d like to see if I can get my car repaired. And they laughed at me over the phone. Because really, this was set up not to actually provide insurance, what it was set up was to meet the legal requirements. But it really wasn’t serious insurance. Now, it’s one thing if you got an old beat-up car that you can’t get fixed. It’s another thing if your kid is sick or you’ve got breast cancer.
Did Obama, just out of college, not know in many states you need only buy liability insurance, to cover other drivers in an accident that is your fault, while you can take your chances not buying collision insurance on your own ”beat-up old car”? Did the insurance company he applied to not tell him that? It usually doesn’t make economic sense to buy collision insurance on a clunker, but insurance companies are more than happy to sell it. They are, after all, in the business of selling insurance. Did he not read the policy when it was issued to know what was covered and what was not? Did he not know when you are rear-ended, it’s almost always the other guy’s fault, and therefore his insurance would have covered the repairs? That would be pretty dumb for the world’s smartest man.
He is accusing the unnamed insurance company of what amounted to fraud, selling something that would fool the DMV, but not provide “serious insurance,” when it sounds like he just didn’t know what he was talking about.