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If you can afford to eat the loss, don’t insure it. Obviously insurance companies make money on average for every policy. If they didn’t, they would go bankrup
by yojo 22d ago
If you can afford to eat the loss, don’t insure it.
Obviously insurance companies make money on average for every policy. If they didn’t, they would go bankrupt. So on average, every time you buy insurance, you lose.
So insure only what’s required by law, or things that would throw your life off track if they vanished.
- hn993302 22d agoYep. Which is also why I find vision insurance ridiculous. No it doesn't cover me going blind, it covers a pair of glasses at best, more like 25% of one.
- lotsofpulp 22d agoVision and dental "insurance" in the USA is a mechanism of paying someone with non taxable income, it is not insurance.
- vel0city 21d agoThis is the way to understand it. Also, sometimes discounts "in network", but that can be pretty mixed in usefulness. Sure, you can use HSA/FSA money on these things, but better to go through "insurance" and keep/use that money for other things.
- hn993302 21d agoDental yeah, vision is just a scam. There are also "life insurance" plans that are basically tax-advantage investment/inheritance funds if you have like $50M+.