Anyone else feel like auto insurance is just stealing your money?
Question:
Answer:
It goes to pay someone else who DOES crash.
Think about it. Auto policies pay out sometimes with thousand to one odds. And they pay off more frequently than the lottery.
So, if your buddy has $50,000 in medical bills, and $30,000 for his wrecked car, that's 800 people that have to pay $1,000 just to BREAK EVEN. That doesn't count insurance company taxes that they pay, or salaries, or mailing costs, or workers comp, or LAWYER BILLS that they also have to pay.
The insurance company pays out on better odds than the track or the lottery. Why don't you complain about the lottery payouts, instead?? They don't pay as much, and you're not as likely to claim.
It is used to pay for the other crashes that the company's insureds have. In curiosity, have you ever seen an insurance company working out of an old building?
No, I don't feel that way. What would you do if someone hit your car while you wern't around. How would you pay for the damage? Auto insurance serves a very important purpose. Or with all the illegal foreign nationals here, what if one of them crashed into your car, how would you pay for that?
Heck no!! I feel like I'm stealing the insurance company's money. I seem to get into accidents all the time. I only pay a $100 a month and in the last year I hit a brand new BMW and it got totaled. They payed out $80,000 on the car alone. Another $100,000 for the injuries I caused. And three months before that I rearended this idiot who decided to stop for no reason in front of me and totaled his car too. That was a $50,000 Lexus. And he's suing me for $100,000 for injuries he said he got. He wasn't even hurt. All you good drivers are paying for fools like me. Ha Ha
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