LBighorn, Nah! I'm too cheap for that. Actually, unless a catastrophic illness comes around, I pay less out of pocket than what the premiums would add up to. So far, the same scenario pertains to extended warranties on purchases too.
Although I have insurance on the things where it is mandatory, or sensible, such as vehicles and home, but otherwise I am averse to insurance companies. There was a time when they took risks, like Lloyd's of London, and the sailing ships, but today the actuaries make sure that there is no risk at all for the company. Regardless of you driving record, if you live in a metropolitan area, your cost is much higher than if you live in the boonies. If a hurricane causes claims 200 miles away from you, and you have no damage, your home insurance will go up to compensate.
I have not had to make a claim for 20 years, or more, and yet they punish me for what others do. |
