How does car insurance help to save money?
23.2.2023 10:45
On a whole car insurance does not “save money” because insurance companies have to pay their people and make a profit. Insurance is valuable when a bunch of individuals say “I would like to reduce my risk of a big financial loss in exchange for paying a relatively small fee each month”.
Bad accident claims can be over $100,000. Most car insurance is around $1000 a year. So you reduce the risk of having to pay $100,000 all at once by paying a much smaller amount every year.
Bad accident claims can be over $100,000. Most car insurance is around $1000 a year. So you reduce the risk of having to pay $100,000 all at once by paying a much smaller amount every year.