Insurance payout and 'totaling'

I believe the best bet is no insurance.

Think about it. The insurance company exists to make money. They collect
more in premiums than they pay out. I believe that over the long run, you
will pay more in premiums than you will collect.

I stopped paying collision on my auto the day I got the title. I don't carry
hull insurance on my plane.

I Only insure against a loss that will change my lifestyle. (liability,
home, health)

"VideoGuy" gkasten at brick dot net wrote in message
...

Best bet is whole life insurance, bought early in life. Of course, the
only
way to collect is... sigh

Steve Foley wrote:

I believe the best bet is no insurance.

Think about it. The insurance company exists to make money. They collect
more in premiums than they pay out.

Not usually. They usually take the premiums and invest them in things like the stock
market. That's where they really make their money. That's also why premiums skyrocket
when the market goes down.

George Patterson
None of us is as dumb as all of us.

In article ,
Steve Foley wrote:

Think about it. The insurance company exists to make money. They collect
more in premiums than they pay out. I believe that over the long run, you
will pay more in premiums than you will collect.

The insurance company makes the most money by investing the premium
money. When the stock market is doing badly, insurance rates go up.
When the market is doing well, the rates go down.