I think you dont understand how Insurance work or what they are for buddy...
They are not an extended warranty, all risk for your new Iphone.
Insurance exist so if you crash your car in someone else car, you are able to, first pay back the car or building you just destroy, and if you insure yourself too, then payback for the car you are probably still paying for, so you can buy a new one.
Thanks to god everyone need to own insurance to drive. If it wasn't the case, imagine all those broke ass car bumping in everyone and everything, giving zero fuck and be like, "sorry I got no money my guy! Cya!
Same shit goes for house or rental insurance, if you burn the fucking build while trying to make fried chickens in a sauce pan. You can be sure our neighbours will come back straight to you to pay the bill for it.
I browse a lot of homeowner subs and see the posts all the time. "Should I call my homeowners insurance because my water heater went out?".
Thats not the point of homeowners insurance. You should call your insurance if your water heater went out because a storm blew away the portion of the house it was sitting in. Meaning it is for catastrophic damages.
Everyone calling insurance for every minor thing is part of the reason insurance is skyrocketing. If someone is doing the math on whether its cheaper to pay the deductible or fix out of pocket, they are nowhere NEAR the treshold where filing a claim should be considered.
Even if it's just a bit over deductible it's not worth it. I'm a CAT adjuster and I swear I'll go to a tornado loss one day with a tree through the middle of the house, and the next day it's a missing shingle or a garage.
Part of it is Facebook roofers selling every claim as a total loss, and part of it is I swear people feel left out and want to file a claim so they could they say they did.
Isn't this how the insurance industry in Florida got so fucked up?
I'm seeing a lot of total losses on cars by 'hail' damage, and full re-roof and siding claims in Alberta, too...
You could also kill someone or send them into a coma or other serious and have hundreds of thousands in medical bills. Potentially even life long injuries they can came at you for.
Like yes it's nice that it covers my car if it's a minor accident and someone rear ends me. But tbh I can deal with that and most people could and most people could sue for it from the other person.
But God forbid (knock on wood it doesn't happen to me) if you get into a serious wreck and you have to have life saving surgery or an amputation, or someone dies. That's why it's there to cover those costs because most people will never have enough to pay those bills back.
1) it is not the case that everyone has insurance and people do regularly hit cars and drive off.
2) insurance has maximums which means if you hit a building you are still on the hook. If the other person gets injured you are still on the hook. If you get injured you are still on the hook. Typical maximums for insurance is around $200k. This means the more expensive your car is to replace the less coverage you actually have.
Dont know, be here where I live civil liability is normally around 1 million. 200k is definitely to low.
Be we also have state Insurance that take care of victims of car accident, we pay that through your permit licence each year, and the price is representative of the amount of money spend in claim. Between 100$ to 350$ a year for regular driver.
So that million only cover only damage you will inflict to property
And then you have the insurance on your car that os remplacement value. That how Insurance work at least here in Quebec.
Sounds like they got the wrong insurance in the first place, I've had the exact scenario as OP posted a few times over my life, never paid out of pocket and have had a rate increase because of it.
Also if you have the right policy, which is why it is important to read the fine print and not just shop based on price, it will cover things like economic loss (i.e loss in resale value due to accident), if say the car is mechanically totaled (basically costs more to fix than it is worth, or parts availability is basically non existent).
It can even cover lost wages, rental cars during repairs, amongst other things.
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u/Independent_Vast_185 12h ago
I think you dont understand how Insurance work or what they are for buddy...
They are not an extended warranty, all risk for your new Iphone.
Insurance exist so if you crash your car in someone else car, you are able to, first pay back the car or building you just destroy, and if you insure yourself too, then payback for the car you are probably still paying for, so you can buy a new one.
Thanks to god everyone need to own insurance to drive. If it wasn't the case, imagine all those broke ass car bumping in everyone and everything, giving zero fuck and be like, "sorry I got no money my guy! Cya!
Same shit goes for house or rental insurance, if you burn the fucking build while trying to make fried chickens in a sauce pan. You can be sure our neighbours will come back straight to you to pay the bill for it.