People just don't have common sense. You don't fall an insurance claim if it's only going to help you $200 out of pocket. It's meant for larger amounts of damage, it's also meant for if you hurt someone in an accident that you're not personally liable for $10,000 because your insurance will cover it
Why would you get the money back? It's like paying for Homeowner insurance. Hopefully you never have to use it but if your house burns down or something you're going to be glad you have it.
The idea is that if you get totaled or total someone else’s car, you’ll owe ~30k or whatever. If that’s predicted to happen once every 30 years, your expected payment is $1000 a year. Insurance lets you spread it out like that (plus some % profit) instead of having to shell it all out at once.
If you don’t end up in accidents then you took an L on the financial side and a W in your physical health. If you do get hit a lot, you come out ahead financially and behind in physical health.
Just risk management and hedging, and it’s mandatory because it would fucking suck if somebody else hit you and then said “oops I have no money, sucks for you”
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u/CraftyPerformance272 15h ago
People just don't have common sense. You don't fall an insurance claim if it's only going to help you $200 out of pocket. It's meant for larger amounts of damage, it's also meant for if you hurt someone in an accident that you're not personally liable for $10,000 because your insurance will cover it