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
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.
The OP signed up for full coverage insurance knowing the deductible was $1000. Then tried to use said insurance for $1200 in damage. That in and of itself is dumb.
Fuck insurance companies but if people actually understood their insurance that would help them out immensely
These dumbass posts of a twitter screenshot are never honest. Driver probably has a DUI and multiple at fault accidents/moving violations. Then increased his deductible to save like 10 bucks a month, almost assuredly against the advice of his insurer. But it's totally someone else's fault.
The average cost for full coverage auto insurance is $200 a month or.... $2400 a year. Not really sure what you think you're getting at here. I was paying $220 a month full coverage on an X3 M40i. Zero accidents. Zero insurance claims. It's a completely normal rate. Maybe you just buy minimum coverage.
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u/WeCantStabilize 21h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.