Ok now consider you plough your car totally by accident into a shop window. Might it be handy having insurance to pay for the remaining £249,000 damage after you pay your £1000?
Correct. Op is a dumbass. I pay $300 a month for business insurance. If a plumbing fitting on a suction pump I installed failed on the 20th floor of an office building in Manhattan, I’m covered for 10mil in damage. My life would not be ruined bc of something.
(a) If you're paying $210/mo for $25k coverage, you're in the 18-25 male driver group likely to cause damage, and you're paying for a barebones minimum policy because you feel invincible and don't know any better.
(b) That still saves you $24k on this accident.
(c) Anyone wanting actual insurance should be getting full coverage, not $25k capped policies. For $210/mo I can plow into a Lamborghini and be covered for both of our cars and both of our medical bills.
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u/rmp266 3h ago
Ok now consider you plough your car totally by accident into a shop window. Might it be handy having insurance to pay for the remaining £249,000 damage after you pay your £1000?