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They don't lose a few bucks, it's insured. I vaguely recall it's part of FDIC even.
by dmoy 6y ago
They don't lose a few bucks, it's insured.
I vaguely recall it's part of FDIC even.
- WalterBright 6y ago> They don't lose a few bucks, it's insured. That's not how insurance works. If you file claims against the insurance company, they pay the claim, but your rates go up to cover it. YOU wind up paying.
- ficklepickle 6y agoI can't believe you were down-voted for that. It is absolutely true. Insurance, especially for things likely to happen, is basically a payment plan.
- sharkweek 6y agoThis isn’t true but appreciate that it’s what most people think. Just gets written off as a loss. Same goes for cashing bad checks, etc.