> "never insure that which you would be able to pay out yourself".
This is silly as a rule, IMHO. I could pay out for all new stuff if there was a fire, but it's a damn site cheaper to pay a few hundred a year for insurance.
The point of insurance isn't that they pay out an individual less than they take in, but the group in aggregate.
This is silly as a rule, IMHO. I could pay out for all new stuff if there was a fire, but it's a damn site cheaper to pay a few hundred a year for insurance.
The point of insurance isn't that they pay out an individual less than they take in, but the group in aggregate.