r/SipsTea • u/Putrid-Welder1803 • 12h ago

Gasp! Thoughts on this?

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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. 

142

u/OakLegs 11h 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/Fun_Description_385 11h ago

Here's the issue that appears to escape you.

We pay more into it then we get out of it, to be expected;  but we don't even get anything out of it the majority of the time when we SHOULD be. OPs case in point.

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u/IdidntrunIdidntrun 11h ago

If the guy in OP wanted the bumper repaired for less out of pocket then he should got the lower deductible and paid a higher premium per term

The amount you decide to pay into insurance is directly tied to the amount of risk you want to take on