this post was submitted on 21 Feb 2026
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big insurers have millions of your neighbors paying 20/month. all i know is, 'the house always wins'. they are swimming in cash. my dad used to sell car insurance. when cards became mandatory, he had an influx of 'card buyers'. pay one month and get a card. stop paying. because they bet the odds of getting fined for no card were a lot better than odds of getting in a wreck. house wins, sells you 'uninsured motorist' coverage. people gamble on many things. insurance is good when you win. they lose when you win so deny, depose ... I don't know the answer. just try to hedge bets and look for ways to break even for all us non-greedy shmoes. i don't like most insurance co.'s greed. have insurance as required and savings also. i'd never pay for extended warranty on something under $10k. that's some easy bets for them.
I agree that the house is winning here (as always) and I also hate companies that squeeze us regular people for cash at every opportunity as much as the next person.
My point is that I don't really see buying e.g. house insurance as a gamble as much as I see it as paying a monthly fee for the peace of mind it gives me to know that I won't be financially ruined by a house fire or a burglary. It's not about making money in the long term for me, it's about mitigating the consequences of highly unlikely but absolutely devastating events.
have insurance with allstate because it's cheaper rate. hail damaged the entire neighborhood, 20 houses on two separate days. every other house on my street got 2 new roofs a month before allstate quit dragging their feet and released funds to do mine once. i paid my nephew extra to make it a metal roof and made allstate give me a discount. pay for itself and last long after i'm dead. peace of mind until you have to jump through hoops to make them do what you paid for.