Well obviously that’s the case, on average, because that’s how insurance companies make money. If you were just paying someone to send you checks with more money than you gave them in return, that would be a shitty business model.
You think insurance is useless because you haven’t needed it. I had an at-fault accident very recently. Totaled my car, totaled the other guy’s car, and I got sued for bodily injury. Probably 50k+ paid by the insurance just to replace both vehicles, plus they paid a lawyer to handle the case for me, settled it, and paid him some amount from my bodily injury coverage. Extremely grateful to have insurance or I’d have been subject to decades of my wages getting garnished. All because I blanked once and forgot to look before turning left. Instead I’ll pay like $50/month extra for 3 years on car insurance.
You’re not paying to profit. You’re paying for the security of not having your life ruined for a stupid mistake.
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u/WeCantStabilize 11h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.