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SVTPerformance's Chain of Restaurants
Road Side Pub
Do you think insurance is a scam
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<blockquote data-quote="svtfocus2cobra" data-source="post: 16318685" data-attributes="member: 21786"><p>I worked at Farmers Insurance from 07-09 and if I recall correctly the company was not as profitable as you would think. Given, that was the peak of the housing crisis but from my understanding while working there was that profit margins were thin.</p><p></p><p>Sure you can put away $10k that you would normally pay in insurance and turn it into $350k but have fun getting sued for an accident where you're at fault and the person actually got injured and you are ordered to pay for their medical bills and you are paying for a lawyer on top of that. That $350k you put away could very easily come up short, especially if there are multiple individuals injured. Not even everyone that is in the bottom of the top 1% of the wealthiest in this country could afford to pay out in full for a claim like that because you're talking about millions of dollars possibly. Those kinds of claims would crush 99.9% of Americans so that is why we carry insurance.</p></blockquote><p></p>
[QUOTE="svtfocus2cobra, post: 16318685, member: 21786"] I worked at Farmers Insurance from 07-09 and if I recall correctly the company was not as profitable as you would think. Given, that was the peak of the housing crisis but from my understanding while working there was that profit margins were thin. Sure you can put away $10k that you would normally pay in insurance and turn it into $350k but have fun getting sued for an accident where you're at fault and the person actually got injured and you are ordered to pay for their medical bills and you are paying for a lawyer on top of that. That $350k you put away could very easily come up short, especially if there are multiple individuals injured. Not even everyone that is in the bottom of the top 1% of the wealthiest in this country could afford to pay out in full for a claim like that because you're talking about millions of dollars possibly. Those kinds of claims would crush 99.9% of Americans so that is why we carry insurance. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Do you think insurance is a scam
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