Insurance Racket: Difference between revisions
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(Created page with "*Take car insurance, average USA cost of $1000/year. *Over 50 year life, it's $50k. *Accident rate USA - $400B damage per year. *200M drivers *$200B revenue for insurance. *So...") |
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*200M drivers | *200M drivers | ||
*$200B revenue for insurance. | *$200B revenue for insurance. | ||
*Claims paid - $170B. [https://www.iii.org/fact-statistic/facts-statistics-auto-insurance#Incurred%20Losses%20For%20Auto%20Insurance,%202013-2017%20(1)] | |||
*So it does appear that costs don't cover all the damage done, and insurance cost appears to be fair. | *So it does appear that costs don't cover all the damage done, and insurance cost appears to be fair. | ||
Latest revision as of 17:24, 18 March 2019
- Take car insurance, average USA cost of $1000/year.
- Over 50 year life, it's $50k.
- Accident rate USA - $400B damage per year.
- 200M drivers
- $200B revenue for insurance.
- Claims paid - $170B. [1]
- So it does appear that costs don't cover all the damage done, and insurance cost appears to be fair.