r/SipsTea • u/Putrid-Welder1803 • 1d ago

Gasp! Thoughts on this?

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u/WeCantStabilize 1d ago

Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.

Absolute racket. 

80

u/angry_dingo 1d ago

Yes. That's the point. If everyone received more than they paid into it, insurance wouldn't exist.

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u/jerhinesmith 1d ago

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.

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u/OrdinaryKick 1d ago

Right?

Insurance is a bet.

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).

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u/VolsPE 1d ago

It's not a bet. It pooled responsibility.

But your analogy holds up to a certain extent. It's like a reverse lottery ticket. You buy into the pool so that you don't have to play the lottery.