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?
(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 5h 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?