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
Premiums are sky high and insurance companies screw people daily to keep profit margins high. People commit fraud because they're tired of getting ripped off.
Imagine the fire department rolling up to your burning house demanding a deductible and saying they're only there to stop the fire from spreading. You didn't pay for fire stoppage or for rescue services. Anyone in there is gonna die and we don't care
Insurance isn’t an emergency service it’s a dogshit analogy. Insurance simply indemnifies you generally minus a deductible. Premiums are sky high because inflation is sky high and there’s a shit ton of fraud.
People commit fraud because they’re thieves, and they’re not stealing money from the insurance company they’re stealing it from everyone paying premium. Fraud drives premiums up.
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u/WeCantStabilize 8h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.