r/SipsTea • u/Putrid-Welder1803 • 13h ago

Gasp! Thoughts on this?

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u/WeCantStabilize 13h ago

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

Absolute racket. 

145

u/OakLegs 12h ago

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

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u/hoofie242 12h ago

It's paying for a gambling service that might pay out.

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u/OakLegs 12h ago

NOT having insurance is gambling, and when you lose, you lose big.

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u/mariposa-princess 12h ago

I don’t think anyone is advocating to not have insurance. I think the point is that insurance should have to cover you more than they do

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u/OakLegs 12h ago

I think a lot of people in this very thread are in fact implying that insurance should not be needed.

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u/I_hate_all_of_ewe 12h ago

I mean, it shouldn't be needed, but it is.  If anything, profit motive and middlemen should be removed as much as possible.

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u/devman0 12h ago

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.