Regulatory changes in the mid 1940’s enabled insurers to create multiple line policies, but this alone did not create consumer demand for them. As one insurance executive described it,
It is argued that there is no public demand for these broad policies. It is equally true that insurance has never been sought; but has been sold by the insurance companies. As better policies were developed endeavor was made to interest the public in these broad forms of protection
quoted in Hunt, Jr., F. (1962). Homeowners- The first decade
I just pulled this out of a paper I'm working on and putting it here for safe keeping. It is curious though, that we have gone from a lack of interest in insurance to fierce national political battles over accessibility to broad insurance policies. As we fight, rarely (ever?) do any stop to ask, "why insurance?" For certain there are other ways.
I am reminded of the proverb,
For want of a nail the shoe was lost.
For want of a shoe the horse was lost.
For want of a horse the rider was lost.
For want of a rider the message was lost.
For want of a message the battle was lost.
For want of a battle the kingdom was lost.
And all for the want of a horseshoe nail.