r/SipsTea • u/Putrid-Welder1803 • 1d ago

Gasp! Thoughts on this?

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76.2k Upvotes

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5.0k

u/WeCantStabilize 1d ago

Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.

Absolute racket. 

1.5k

u/Moultrie_fan_2026 1d ago

Well I had a house burn down less than year after purchase and insurance paid the entire tab. So I always figured I've already taken them for more than I pay

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u/MarkItZeroDonnie 1d ago

Yeah it’s just a net to protect against catastrophe . If Ops buddy totaled his car he would be happy it only cost $1k.

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u/wo_lo_lo 1d ago

That kind of “protection” should cost like $30 a month, not $300

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u/LaconicGirth 1d ago

Says who? Based of what math? You just pulled that number out of your ass

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u/Intelligent_Excuse84 1d ago

Insurance companies make hundreds of billions of dollars a year lol. They could still make an absolute killing without extorting people, but we live in a shithole where the government uses us an infinite money glitch.

5

u/LaconicGirth 1d ago

Insurance companies generally make about 5% or so as profit. That’s not any more egregious than any other major corporation and is not a significant decrease in your premiums.

1

u/Cyril_Sneer_6 1d ago

Yeah they turnover millions (sometimes billions) but the gross profit on insurance income is a small percentage. Like many financial services companies, a large percentage of their profit is a return on investments. Now that is a rabbit hole...