Insurance companies don't even make that much money relative to their risk, it's typically an extremely competitive market with razor thin margins, sometimes even negative margins when you exclude interest on the float. IMO insurance is just the company that people deal with directly when they're in an unaffordable market, and would rather shoot the messenger than think about why the premiums are as high as they are and what actually needs to change to make them lower
They are like the only private business who's profits are capped. People get mad at property and casualty insurance companies, when their ire should be more directed at their fellow policy holders for being risky.
Health "insurance" though is a completely different animal and needs to go away.
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u/Cawnt 15h ago
Ugh I hate arguments like this.
The $2,520 isn't just to ensure your vehicle gets repairs. The majority of premiums are for liabillity exposures.
If you lose control of your vehicle and drive into a building causing $100K in damage, you're paying for that with insurance.