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 I know because I saw a historical document to that effect.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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[–] facepaint ago
Insurance isn't a scam. People use it wrongly. You need insurance for the situations you cannot afford to cover if they occur.
For instance, on my car, I have a high deductible. I only really need to worry about liability for injury to my passengers or totaling other cars. Or people in other cars. I could buy another car outright if I needed to. When I was younger and poorer, I could not afford $2,000 of damage to my car easily, so I had a lower deductible.
Health Insurance? High deductible HSA. Insurance should not be covering cheap regularly used items such as a yearly health check up. Or out of patent medications. Need regular insulin shots & test strips? Insurance becomes a middleman who undoubtedly makes it all more expensive.