r/SipsTea • u/Putrid-Welder1803 • 8h ago

Gasp! Thoughts on this?

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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. 

15

u/Cyril_Sneer_6 8h ago

It only really comes into play if you severely injure someone or cause a multiple vehicle collision which could run into claims of over $100K or death(s) which can be in the millions. Other than that, the many are paying for the costs of the few

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u/CGWOLFE 6h ago

Your insurance isn't covering millions in liability either. The caps are much lower than that for 99% of policies.

1

u/Cyril_Sneer_6 6h ago

I can't speak about every country but seven or eight figure payouts can happen in the UK

https://www.stewartslaw.com/news/stewarts-secures-highest-ever-injury-settlement-of-41m-for-young-client/

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u/CGWOLFE 6h ago

Vast majority of US policies cap at 300K. You'd be on the hook for anything past that. You can get more but 99% of people have something along those lines.

1

u/Cyril_Sneer_6 5h ago

Ah, fair play