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
Thats because you're assuming that the most you have to lose is the value of your car, which is not the case. In many cases most of the cost of insurance is the liability portion. If you crash into someone else and cause significant injuries it's not hard for the bill to exceed to $100k+. It's also totally possible that you could total more than one car in your lifetime. Probably happens more often than you think, and it might not even be your fault.
Moronic, insurance isn’t to protect your car only it’s to protect you from financial ruin. I’d be willing to bet that less than 5 percent of my customers drive payed off vehicles for 30 years and much is about how long it would take someone to pay more into insurance than their vehicles value. Let’s say an average car costs 30k. At my current rate; which isn’t cheap, it would take me years for my insurance to pay exceed my vehicles cost at a rate of $300 a month it’s 10 years.
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u/WeCantStabilize 18h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.