Re:Micromort
by eli on Saturday August 24, 2013 @11:22AM
(#6268868)
Insurance is about managing risk. I willingly and happily pay extra money spread over many small payments to eliminate the risk of a single rare event (e.g. A car accident that's my fault) from totally ruining my life.
[ Parent
| on HN ]
The car accident is different, insurance is mandatory because you also risk other people's lives.
And I don't say you shouldn't pay for your own protection, I say you can't evaluate the risk correctly and are very likely to be ready to pay too much. Which is how insurance make money.