Why is there no benefit to having car insurance?

Norma Marsalis: I suggest you to try this internet site where you can get quotes from the best companies: 2YARE :Why is there no benefit to having car insurance?Obviously there is a benefit, but if i never have to use my car insurance, why the hell am i spending so much for it? A minimum of 1200 dollars a year, and that is seemingly impossible to get, so why isn't there a return for that when you end your policy? I believe health insurance has an accruing value, so why not auto insurance?Follow 9 answers...Show more

Floy Fague: If you pay for car insurance for a year and never get into any accidents the whole time, there is absolutely no benefit. You pay them to put up the money in case you need it, but if you don't need it they still keep what you pay them.If you go to a casino and lose, do they give you your money back? What about if you buy a lottery ticket and it doesn't win? Or if you buy an antivirus program and it doesn't detect any viruses, are you entit! led to a refund? What if you buy a fire extinguisher but don't have a fire? Same deal with insurance.Health insurance with accruing value isn't actually just insurance, it's insurance combined with an investment fund. You can get health plans with no accruing values, and they cost less because you're not investing anything.Insurance is kind of like gambling, except the only way to win is to lose. And you're right - if you don't use it it's just money down the drain. Just like those other examples I listed....Show more

Madlyn Fallis: Maybe an simpler explanation is that virtually all states require drivers to carry liability insurance to get a vehicle registered. So no insurance, no driving unless one is willing to risk an accident coupled with an ensuing lawsuit filed by a helpful attorney.

Vernita Robberson: LOLI have been driving for 44 years and have had 2 accidents, 1 my fault and 1 not at fault. Would I ever go w/out, NEVER............. You buy car ! insurance to protect yourself from being sued and losing every! thing. Health insurance accruing value, don't get where you are coming from, since never been w/out health insurance, have been to the doctor twice in 4 years, 1 for a mammogram, and 1 for a colonscopy. I am healthy, but the cost of the 2 cost the insurance company a total of around $1,500, and I paid out of pocket around $700, but I continue to pay $450 per month due to my age. But, it is the big/catastrophic health issues that I am concerned about, like, cancer, stroke, heart attack etc due to my age, and could no way pay $100,000 to a million to be treated. Now, if I would be hit by a car tomorrow and die, then once again, all money spent for health insurance would never pay out for me, but you buy it, "just in case"....Show more

Lindsey Zanardi: Insurance is no dollar for dollar. If it were and you had an accident 2 days into your policy, you'd only have about $200 in coverage and you'd need to pay the rest out of your pocket.What you are paying for is _assump! tion of risk_ (up to your policy limits). This starts from day one. In that you keep paying a premium regardless of payout is why they call it insurance and not a bank account....Show more

Riley Migl: Because if you do get in a wreck, it could cost thousands upon thousands of dollars. More than you have paid so far. Especially if it is your fault. What happens if you hit someones car that costs just as much as a house? If you didn't have insurance ... you'd be screwed. Also it's required by law ... so the benefit for that is if you get pulled over, you won't get fined for driving without insurance. This is a stupid question, honestly.

Shamika Schools: First you ask "Why is there no benefit?" Then you say "Obviously there is a benefit". Which is it? Regardless, what you fail to consider is that there is a "benefit". The benefit is called PROTECTION. Protection for you and your finances, protection from financial disaster.Health insurance has an accr! uing value? How so?...Show more

Carlton Lastrapes: Do you mean a! ny benefits beside the fact that the law REQUIRES you to carry insurance on your car? Think of Insurance as like legalized gambling. When you buy an insurance policy for your car, you are betting that you WILL have an accident. The insurance company is betting that you won't. If you have an accident, then you WIN! and the insurance company has to pay for repairs to your car. If you don't have an accident, then the insurance company wins, and they get to keep your money. Health insurance DOES NOT have an accruing value, but auto insurance sometimes does... Over the years if you don't have a claim, the insurance company charges you less money for the same coverage....Show more