So over the years you have paid $850.00 for the protection. Sorry but not a good deal in my opinion.
Neither is Home Owners, Auto (Comp and Liability), Life (even Whole), and just about any type of insurance because the odds are YOU will never suffer the fates those--often BAD--policies claim to protect--with a high deductable or coverage (even for a fat premium) that will still leave you open to lawsuits for which YOU will have to pay an attorney and handle on your own. And let's not forget the meritorous claims either NEVER paid or only a fraction of the supposed coverage with all sorts of exemptions. Good Grief, even lousy, sketchy fininacial products from the big-name houses leave you totally exposed to charges--both financial and legal--to the IRS who will imprison for you while your Wall Street firm keeps on trukin' telling you that investing in THEIR phoney-balooney product was YOUR problem and they aint helping nor aiding nor standing with you one bit with the IRS. Have fun in Oz.
But, how does one put a price on peace of mind or for when the odds, not matter how slim, do go against you? So, the value of insurance is relative, not absolute, meaning it is up to the individual to decide if is as good deal--
for them--and what brings them peace of mind--and I'm talking about even the BEST of plans (never the ones people know exist) where the odds still say you end up LOSING money paying the premiums, with the only hope on the good plans is to minimize the loss by getting some of what you paid back to you, but still a BIG net LOSS.
So let's not get too smug about our supposed superiorty regarding what's a good deal on insurance when the vast mojority of our funds go to paying big premiums for which we will never file a claim in our lifetime. Sorry, but your in the same boat with the rest of us. I've never known anybody who has had any use for the homeowners insurance in the 30-40 years they've been homeowners and have DIED never having a use for it, yet, one could argue that one may be a fool NOT to have such insurance when we become that once in a lifetime statistic. And let's not forget the most common damages we will suffer is most often below the deductable, so we can get that lower premium so that we can afford to feed our kids each month. We all go in knowing we are NEVER gonna get our money's worth, truly, and even accept, and even actually
HOPE that we never have to use it and file a claim. That's right: buy insurance and hope we NEVER have a need for it is the prevalent mind-set about insurance for the vast majority of people, which make no real sense, but it makes us FEEL better. Ironically, the odds are we WILL suffer HDD failiures and Dish STB failures and other Dish equipment failures or vital PC failures or failed marriages than all the different policies we pay for to protect us from the least likely things to happen.
All insurance is a "bad deal" to different degrees. The "good" plans can be thought of the least "bad deals."
