Quote:
Originally posted by Kaimetsu
So you got lucky and it benefitted you. That's not the case with most people - the rates are purposefully calculated such that you are likely to get out less than you pay in.
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It's the law in the US that people have to have at least Liability insurance. Because people would get into car accidents and then not have the money to pay for the other persons car. So even if people dont like it they're forced into it. It's nice in some ways though. Because yes you're paying a monthly fee. But then when something does happen you dont have to come up with thousands of dollars to cover accidents. Medical/Vehicals etc.. Of course you're going to be paying more than if you had just kept putting your money in the bank.(Like most people would be responsible enough to do that.;x) But if it didnt cost more. No Insurance companies would exist due to lack of profit.