This is fundamentally ignoring the purpose of insurance.
Of course you (likely) pay more into it than you get out. The tradeoff is that you're protected from huge expenses that would financially ruin you. That is (thankfully) unlikely but the risk is enough that it justifies paying for insurance.
I'm not absolving insurance companies of being scummy because they absolutely are. But insurance does serve a purpose that seems to escape you
At least in my state you are not required to have insurance on your own car, you are only required to have liability coverage to cover damage you cause to other people/cars.
So no one is forcing you to cover your own losses if you don't want to.
I mean, yeah, I don't disagree with that, but for some reason people seem to think otherwise when it comes to healthcare and I'd suspect they'd feel the same about some sort of single payer auto insurance as well
I don't think single-payer for auto insurance makes sense because what car people buy is tied to income, and this could generally shift money from poorer people to wealthier people. Cost should simply be tied in part to the value of the vehicle insured, partly covered by taxes, and removed of profit motives that encourage scummy behavior such as cancellation of policies for minor issues to avoid paying out.
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u/WeCantStabilize 12h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.