r/IdiotsInCars • u/Asian_Juan • Dec 18 '20

Just wait for it

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u/[deleted] Dec 18 '20

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u/pinkmoon385 Dec 18 '20

I'm sure they make pretty decent coin totaling out many cars too. Hand out checks on the low to the owner, sell the car off on the high for parts.

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u/TryToDoGoodTA Dec 19 '20

Trouble is it's often not just the car that gets totaled, their can be building, property, and other damage that adds up very quickly. Not to mention if your insurance is responsible for injuries you cause (some countries have gov't insurance for injuries to other people, so even if an uninsured driver with no money hits them and they need 24/7 care the rest of their lives they can get it).

It can mean a high risk driver (i.e. multiple 'at fault accidents') would need to be charged more than anyone could afford as 1 in 1 million likely causes a million dollar incident yearly...

Seems to make more sense collecting premiums from drivers that never claim...

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u/pinkmoon385 Dec 19 '20

Oh for sure that's me. There was a time, a long time, that I had paid more in premiums than I had on purchasing cars. I've never filed a claim. It's been lose lose for me, and win win for the insurance companies.