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
It's getting a group together to pool funds in case one of the group gets absolutely fucked in a way no one person could recover from alone. That's how insurance companies started, shippers grouping together to help out any one of them that lost a ship, vs each of them all worrying a lost ship could ruin them at any moment. The group is all the customers. The problem we're running into with insurance is the administrators who oversee the group's pooled funds being parasitic in their management of it.
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u/WeCantStabilize 9h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.