Quote:
Originally Posted by Villager Joyce
All insurance is a scam until you need it.
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I find almost no one thinks through the cost of insurance and simply buys no matter what they might get for it. On the 1 hand we have to have medical insurance on the chance you might suddenly be faced with astronomical charges. At the other extreme there is appliance insurance. Can no one imagine that these companies have it figured out how much to charge for a policy and how much they will pay out. How do you think they make money? They charge you more upfront than they have needed to pay out. We have been trying for weeks to get a clothes dryer fixed through insurance purchased by the former homeowner ( I have never bought insurance on any gadget). Sears will only use rebuilt parts. They don't necessarily work either. A week between each ordered rebuilt part has us at 3 weeks in the laundromat now.
Title Insurance: A title search which we are charged separately for makes some sense. So called title insurance no person can ever collect on.