This is just one of the stories from our “I’ve Always Wondered” series, where we tackle all of your questions about the world of business, no matter how big or small. Ever wondered if recycling is worth it? Or how store brands stack up against name brands? Check out more from the series here.

Listener John Huertes from Queens, New York, asks:

We recently got a dog and discovered that pet health insurance exists. Why doesn’t something similar exist for cars that covers maintenance since people keep cars for so long? Why is there no car “health” insurance, and if there is, can you explain more about it?

Insurance covers checkups for humans, but those who want a professional to examine their car are out of luck. 

It’d be too expensive for insurance companies to cover routine maintenance and would lead to higher auto insurance rates, which are already on the rise, experts told Marketplace. 

“Insurance is designed to protect against those unpredictable, severe losses,” said David Marlett, a professor of risk management at Appalachian State University.

Insurance companies don’t like handling smaller losses because they have to pay expenses like labor and documentation, which end up exceeding the cost of claims that are in the low hundreds, Marlett explained. 

They’re also cautious about the possibility of adverse selection. “That's when the people who would buy this coverage are the ones who are more than likely going to have maintenance problems,” Marlett said. 

And covering maintenance could lead to moral hazard, said Etti Baranoff, an emeritus professor of insurance at Virginia Commonwealth University. Moral hazard is when someone behaves less carefully because they know they’ll be insured. 

“If somebody thought that eventually the insurance will pay, they'll never do maintenance on the car,” Baranoff said. 

Insurance companies are very careful in avoiding situations that could lead to bankruptcy, Baranoff said. 

If insurers did offer additional coverage, insurance rates would probably go up considerably, Marlett said.  

“And rates have gone up so much the last several years, I'm just not sure how much consumer appetite there would be, even if they found a way to offer this,” Marlett said.

Lowering the costs

The average cost of car insurance in the U.S. is $2,671 a year, an increase of 12% since last year, according to Bankrate.

There are some options available to car owners who want greater protection for their vehicles. Car manufacturers and third-party providers do offer warranties that will cover repairs over a set time period. And car repair insurance is an option if any essential components fail, although it typically doesn’t cover regular maintenance or repairs that arise due to neglect. 

Health insurance is the system that’s unusual compared to other forms of insurance because it covers preventative services. But it makes sense to have these comprehensive health insurance plans because of how expensive health care is, said Paul Shafer, an associate professor of health law, policy and management at the Boston University School of Public Health.

To encourage people to get checkups and certain vaccines and cancer screenings, these vital services and treatments are free or relatively inexpensive, Shafer said. 

Going to the doctor's office for a basic visit and getting some X-rays, without insurance, can cost hundreds to thousands of dollars, Shafer said. 

“We have lots of evidence from decades of health economics research showing that people will avoid care when cost is a barrier and that they don't do a good job of differentiating between what is really important high-value care and what is the stuff that they can skip,” Shafer said.