- MadMax888
- |
- Fabled Legendary Member
Please do not send me group invites.
Posted by: theHurtfulTurkey
Posted by: MadMax888
Posted by: theHurtfulTurkey
That'd make premiums skyrocket, and insurance providers apparently think their business would be more competitive by offering less services but also at a lower rate.Obviously it would cost more to hold such a policy. But if I'm willing to pay a higher premium for it, I don't see why not...
Insurance works by pooling money from all customers, like an investment group. Unless the option became popular with that business (which would require a majority of wealthy and willing customers), you'd end up paying more in premiums than you would for maintainence. Instead, you should just buy an extended warranty from a dealer or third party to cover your general repairs if you have calculated that on average you spend more per year on repairs than the warranty costs.Very true. I guess I never considered it from that perspective, just from the policy holder's.