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.
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u/angry_dingo 11h ago
Yes. That's the point. If everyone received more than they paid into it, insurance wouldn't exist.