Safe deposit box insurance market application idea v.02b

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So last week CNBC posted the 2023 Berkshire Hathaway annual shareholder meeting. Watching this inspires me this idea:

An application for safe deposit box where by putting your assets in the safe deposit box up for insurance shares, you could obtain the income from insurance premiums from prominent insurance companies in exchange of collaterals which are contents of your safe deposit box. They could be gold, silver, property certificates etc. 

People could obtain income and insurance companies could have an alternative to allocate their risks to.

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Additionally someone who couldn't repay their debts could probably apply to insurance companies like geico for an extention. The way it works would be, the insurance company would buy the collaterized property, let the borrowers extended their debts while they use the property as repayments of new debts. 

So the new debts would be repaid by "title to the address and everything on it" instead of cash. 

 

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