Re:Are SUVs Ruining Retirement Savings?
by kileywm on Tuesday July 17, 2018 @12:12PM
(#17550719)
Financially, insurance is only a smart purchase if you
1. Cannot afford the worst-case-scenario. (Example: replace your car if it were totaled)
2. You expect the return from claims will exceed the cost of premiums/deductibles. This should never happen if insurance companies are savvy and want to be profitable.
Large companies with a vehicle fleet often self-insure those vehicles (AT&T last I heard) because they can afford every vehicle worst-case-scenario (ignoring liability, which is a legal obligation).
Socially/emotionally, insurance is a peace of mind which is important and valuable to some people. Security and all that.
1. Cannot afford the worst-case-scenario. (Example: replace your car if it were totaled)
2. You expect the return from claims will exceed the cost of premiums/deductibles. This should never happen if insurance companies are savvy and want to be profitable.
Large companies with a vehicle fleet often self-insure those vehicles (AT&T last I heard) because they can afford every vehicle worst-case-scenario (ignoring liability, which is a legal obligation).
Socially/emotionally, insurance is a peace of mind which is important and valuable to some people. Security and all that.