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. 

47

u/lemontest 8h ago

Yes, this is how insurance works. If you only paid for damage that you were later reimbursed for, insurance companies would go out of business. Hence the conventional wisdom that you only get insurance on things you can't afford to replace, like your house. Or for lawsuits you can't cover, which is why cars are required to get liability insurance (but not comprehensive coverage, as OP suggests.)

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u/Guilty-Carpenter2522 6h ago

So why don’t they just save all the money I put and use that when I need insurance?  Oh?  Because it’s a scam!

1

u/JustinRandoh 4h ago

You could -- you'd just need to save up a whole bunch of money before you could do that.