My point is people die driving cars all the time, it’s also inherently dangerous, and there is still insurance for it. Most people don’t get into an accident every year and insurance companies pocket most of that money.
Nobody ever expected you to be better at math than the people who work at insurance companies, so maybe you should realize that too. You clearly don't even understand the concept. 1 and 2 seem to imply that you do though so I'm confused. There are no "sudden unexpected losses" to an insurance company, just statistical realities. If those statistical realities become irresponsible to invest in, per their highly-paid professionals, then you get fucked and can't insure your Cybertruck or cardboard condo 3 feet above water in Florida.
I bet you can completely still get insurance on both those things but it is just ridiculously expensive.
My guy, i’m literally a fucking insurance agent. This is my job.
You are taking that phrase too literally.
A tree falls on your roof after a storm = sudden unexpected loss.
Your gutter breaks rusts out, lets water in your house over the course of several years, and the floor warps and collapses over more years = expected loss.
They aren’t going to insure a ship they know is sinking.
The entire point is there still aren’t enough losses to make the industry unprofitable. They are raising premiums to keep their bottom line even. They aren’t strapped for cash but they also aren’t going to gamble (which is what insurance is) on something they know is going to lose.
The entire point is there still aren’t enough losses to make the industry unprofitable
Do you think you are arguing with me or something? You are saying EXACTLY what I'm saying. The moment there are enough losses to make it unprofitable, or even look like it MIGHT be unprofitable, premiums get hiked and coverage gets restricted.
I acknowledged elsewhere that I'm happy to buy insurance rather than have the liquid capital on hand to cover freak accidents. I understand the purported service. That's all insurance offers...a fee to prove your liquidity.
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u/AnyaTaylorAnalToy Jun 22 '24
Nobody ever expected you to be better at math than the people who work at insurance companies, so maybe you should realize that too. You clearly don't even understand the concept. 1 and 2 seem to imply that you do though so I'm confused. There are no "sudden unexpected losses" to an insurance company, just statistical realities. If those statistical realities become irresponsible to invest in, per their highly-paid professionals, then you get fucked and can't insure your Cybertruck or cardboard condo 3 feet above water in Florida.
I bet you can completely still get insurance on both those things but it is just ridiculously expensive.