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 I know because I saw a historical document to that effect.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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[–] starrychloe ago
Insurance covers disasters that you cannot afford to cover yourself. It’s a service which shift the burden of responsibility. If you can afford to just buy a new one, you don’t need insurance. However most people would be hard pressed to replace their house or car so they buy insurance. Phone insurance is pretty much a scam because everyone can afford a new cell phone (though there are really poor people out there).