Any insurance, be it car, house, life. It's all scams. You're essentially paying someone legally to bet on your behalf, and than getting a pittance of a payout. That's ONE problem. The more annoying problem, is rapid hyper inflation in whatever industry is touched by insurance. Car insurance for example, a small light bulb used to cost a few cents to replace. Now, you need to buy the entire casing, the wiring, and it costs 1200$ not including labor. This is because you only pay the deductible, so everyone and their mother can skimp from the top. Same with homeowners insurance. A simple home inspection is 500$. In 1955, getting a deed/house title notarized and approved was 1$ …. I know because I saw a historical document to that effect. Thanks jews! A true blessing to the world /s
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[–] Broc_Lia ago
Proper competitive insurance would probably be actually worth something, especially if it were socially organised and misbehaviour would result in social consequences.
I'd give the example of fraternal societies which provided health and income insurance back in the 1800s.