Insurance is a huge scam! You pay and pay and pay your whole life, and God-forbid never have to use it. But if you DO have to use it, they jack up your rates to cover what they “pay out” to you - which is probably just a fraction of what you’ve paid in over the years! Then, if there is a wide scale event - huge storm or fires - they jack up EVERYONE’s rates to cover the “losses”. Even when they lose, they win. It’s basically a zero-risk money printing machine for them.
IT ALWAYS IS...just like with LIFE INSURANCE POLICIES!!!!....they put more clauses in them just so the beneficiary has to jump through hoops to get the payout...
NOTE: A WHOLE LOTTA PAPERWORK TO GO THROUGH...been there, done that!!!
That’s what we do. Any time we’ve had damage to our home from storms, it made more sense just to pay for it out of pocket instead of going through insurance because although the deductible would be cheaper, the long term cost with rate increases would make it too expensive
Insurance is a huge scam! You pay and pay and pay your whole life, and God-forbid never have to use it. But if you DO have to use it, they jack up your rates to cover what they “pay out” to you - which is probably just a fraction of what you’ve paid in over the years! Then, if there is a wide scale event - huge storm or fires - they jack up EVERYONE’s rates to cover the “losses”. Even when they lose, they win. It’s basically a zero-risk money printing machine for them.
Yes. I know it. I calculated the damn thing and it's cheaper for me to pay out of pocket.
IT ALWAYS IS...just like with LIFE INSURANCE POLICIES!!!!....they put more clauses in them just so the beneficiary has to jump through hoops to get the payout...
NOTE: A WHOLE LOTTA PAPERWORK TO GO THROUGH...been there, done that!!!
Oh I heard. Never used it but I know.
That’s what we do. Any time we’ve had damage to our home from storms, it made more sense just to pay for it out of pocket instead of going through insurance because although the deductible would be cheaper, the long term cost with rate increases would make it too expensive
I am starting to think all insurances should end. Looking at health insurance right now.
Mandatory to get a mortgage, which is another scam. Everything to do with money is a scam.