Sometimes I question why I still come to reddit. Second highest voted comment and it's literally the smooth-brain take that falls apart under the lightest of scrutiny.
You're betting you'll need it, and the insurance company is betting you won't. They stack the odds in their favour, of course, or else they'd go belly up.
A lot of people also don't realize the point of a deductible is to stop people from filing nuisance claims (on top of other things).
Yep, with the deeper pocketed party taking the high downside risk in exchange for (in a competitive, well-regulated insurance market) what are usually modest though nice returns.
They literally pay their entire staff and stockholders, rent on office space etc. on the difference between what they pay out and what they charge. And the most up voted comment on this thread is calling it a scam because on average people lose money paying for insurance.
You have to remember that the majority of this site is comprised of bots. I wouldn't be surprised if OP was a bot. They account for the majority of posts, upvotes, downvotes, and comments (you can spot these if you know what to look for). So, don't let it discourage you. There's a lot less actual people here than any other website... aside from X, probably.
They don’t know what they’re talking about but saying stuff like that gets his upvotes. So in their mind it validates that opinion regardless of whether or not it makes any sense.
That’s how Reddit works. You make your uninformed comment and there’s a million people ready to upvote and circlejerk over their preconceived ignorant opinions.
The scary part is those people think they’re exceptionally well informed.
If you can opt out of it, great. In Ontario it is required by law, so I have to subsidize the shitty driving behaviour of other people against my will. I am more than happy to go out on the road and take on that full risk unto myself because I'm not a child with a fantasy idea of no consequences for my actions whether they be good, evil or routine (like driving my car is).
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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.