Why Don't We Just Compulsory Insure EVERYTHING?

Catatonic

Nine Lives
It has been my approach to not carry insurance for anything I cannot afford to replace unless it is required by law.

I carry insurance on my houses because it would hurt, really bad, if I had to replace. I also have a $5000 deductible on my houses since I can afford that.

I do not carry full coverage on my vehicles because I can afford to replace.

I do not have any other type of insurance because the cost to replace times probability is less than the insurance cost.

UPS provided Healthcare is mostly just that - a Health Care program. Very little of what is provided is actually what I would categorize as insurance.

I never, ever carry insurance for anything that costs less than a $2000 such as you get pressured to buy at Car Dealerships, Sears, Best Buy, Staples, Apple (iPhone, iPad), etc.
These are just sucker programs.
 

moreluck

golden ticket member
It has been my approach to not carry insurance for anything I cannot afford to replace unless it is required by law.

I carry insurance on my houses because it would hurt, really bad, if I had to replace. I also have a $5000 deductible on my houses since I can afford that.

I do not carry full coverage on my vehicles because I can afford to replace.

I do not have any other type of insurance because the cost to replace times probability is less than the insurance cost.

UPS provided Healthcare is mostly just that - a Health Care program. Very little of what is provided is actually what I would categorize as insurance.

I never, ever carry insurance for anything that costs less than a $2000 such as you get pressured to buy at Car Dealerships, Sears, Best Buy, Staples, Apple (iPhone, iPad), etc.
These are just sucker programs.
I worked in a car dealership and those extended warranty programs that they sell for thousands only cost them hundreds, so that's where a lot of the money is made.

Also, if you buy a 2 year extension on that appliance for sure, it won't break until that warranty expires.....that's the way it is.
 
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