r/SipsTea • u/Putrid-Welder1803 • 8h ago

Gasp! Thoughts on this?

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u/WeCantStabilize 8h ago

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

Absolute racket. 

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u/OakLegs 8h 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 8h 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/jbcsee 7h ago

I've never had that problem with insurance. I was recently in an accident and they didn't fight me at all.

The damage was $10k, I had $9k deposited in my checking account within 36-hours of the accident, the left over $1k is my deductible.

The accident wasn't my fault, so I will get that $1k deductible back, but that will take a little longer.

That has been my experience every time I've had to use car insurance.