• 0 Posts
  • 216 Comments
Joined 2 years ago
cake
Cake day: June 30th, 2023

help-circle

















  • AreaKode@lemmy.worldtoLemmy Shitpost@lemmy.worldInsuranace is a joke
    link
    fedilink
    arrow-up
    18
    arrow-down
    1
    ·
    edit-2
    14 days ago

    Insurance is for liability. To pay for the damages you do to someone else. What you’re describing is full coverage.

    Once you’ve paid off your vehicle, you may consider dropping down to liability only. Full coverage is convenient because they’ll pay you when your vehicle is damaged, but the monthly payments will quickly far exceed the money you will recover if you get in an accident.

    This is just an example of insurance companies making it more convenient to continue paying them extra money. In the end, insurance still isn’t a utility, and it continues to be run by private, for-profit companies that will nickel and dime you at every corner.