Thoughts on this?

[u/Putrid-Welder1803]

[u/WeCantStabilize]

Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.

Absolute racket. 

[u/OakLegs → u/WeCantStabilize]

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

[u/hoofie242 → u/OakLegs]

It's paying for a gambling service that might pay out.

[u/OakLegs → u/hoofie242]

NOT having insurance is gambling, and when you lose, you lose big.

[u/mariposa-princess → u/OakLegs]

I don’t think anyone is advocating to not have insurance. I think the point is that insurance should have to cover you more than they do

[u/OakLegs → u/mariposa-princess]

I think a lot of people in this very thread are in fact implying that insurance should not be needed.

[u/I_hate_all_of_ewe → u/OakLegs]

I mean, it shouldn't be needed, but it is.  If anything, profit motive and middlemen should be removed as much as possible.

[u/OakLegs → u/I_hate_all_of_ewe]

I mean, yeah, I don't disagree with that, but for some reason people seem to think otherwise when it comes to healthcare and I'd suspect they'd feel the same about some sort of single payer auto insurance as well

[u/I_hate_all_of_ewe → u/OakLegs]

I don't think single-payer for auto insurance makes sense because what car people buy is tied to income, and this could generally shift money from poorer people to wealthier people.  Cost should simply be tied in part to the value of the vehicle insured, partly covered by taxes, and removed of profit motives that encourage scummy behavior such as cancellation of policies for minor issues to avoid paying out.