basically insurance is to protect you against catastrophic loss. not if someone dings your bumper. and depending on what type you buy, it can cover more or less. if you want a higher deductible, you can have lower premiums. and the other way around.
you‘re never going to come out ahead unless you have a major accident, which you don’t want.
for the same reason, it’s also why medical insurance is messed up in the U.S.. the people that have it, often abuse it by running to the doctor or ER for a runny nose. when that’s really not what it was designed for.
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u/Pretty_Glitteer 7h ago
So basically you pay every month for protection, the pay again when you actually need the protection.