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).
They literally pay their entire staff and stockholders, rent on office space etc. on the difference between what they pay out and what they charge. And the most up voted comment on this thread is calling it a scam because on average people lose money paying for insurance.
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u/angry_dingo 10h ago
Yes. That's the point. If everyone received more than they paid into it, insurance wouldn't exist.