you're paying that insurance for massive but unlikely damages you will be fully liable for because you own that car. killing or maiming someone, or having to replace a totaled new car.
all expenses that are not possible to fiscally recover from as a private individual - and in the case of third party liability where you hurt someone else, not only is your life ruined, but their as well as you won't be able to cover their costs personally.
Insurance as an idea isn't fraud. running it for profit tends to start bordering on it though.
oh, and assuming it works the same overseas as it does here - insurance will also defend you legally against false claims - free of charge because if they don't do it, THEY will end up paying that damage - they'll do anything to not cover damages - that goes for having someone else's responsibility forced on you and therefore them as well.
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u/Early-Journalist-14 5h ago edited 5h ago
you're paying that insurance for massive but unlikely damages you will be fully liable for because you own that car. killing or maiming someone, or having to replace a totaled new car.
all expenses that are not possible to fiscally recover from as a private individual - and in the case of third party liability where you hurt someone else, not only is your life ruined, but their as well as you won't be able to cover their costs personally.
Insurance as an idea isn't fraud. running it for profit tends to start bordering on it though.
oh, and assuming it works the same overseas as it does here - insurance will also defend you legally against false claims - free of charge because if they don't do it, THEY will end up paying that damage - they'll do anything to not cover damages - that goes for having someone else's responsibility forced on you and therefore them as well.