this post was submitted on 06 Oct 2025
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How do the 'ppl who actually know' defend this obvious scammy aspect of the whole thing? Genuinely curious
Insurance is a pooled risk fund. Basically x% of people are going to get into accidents and therefore you'll need z dollars to cover the the group of insurees.
The downside is this means that if you're not getting in accidents, your money is paying for someone else's accident. The upside is (theoretically) if you get in an accident your covered.
While insurance companies can be scummy, the concept of insurance is basically a support network you pay into.
The problem is not insurance, its for profit insurance who exist only to make money.
The whole profit incentive seems to do a lot more harm than good, no?
It always does.