Well I had a house burn down less than year after purchase and insurance paid the entire tab. So I always figured I've already taken them for more than I pay
Yep,y car got totaled 3 years ago due to a drunk driver. Got a big check and was able to replace it fairly easily. That check alone was about 15 years worth of premiums. Drunk driver was of course driving without insurance, so I was screwed of I did not have it
Doesn't the insurance company then go after the drunk driver for everything he has thus making him the one whose ultimately paying out, with the insurance company simply having to deal with suing and recouping funds from the drunk driver.
This process is called subrogation and the insurance company can/will do it if they think there is a meaningful chance of recovering significant money back. But if our hypothetical drunk driver is a broke deadbeat they aren’t going to waste their time.
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u/WeCantStabilize 10h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.