Quote:
Originally Posted by Hawkeye
I am sure you don't get comprehensive auto coverage or life insurance either then do you? That pooled risk concept is the whole idea behind insurance. The majority pays a smaller fee so that the minority can benefit.
Having said that - most of the extended warranties on items, houses, cars, etc are grossly overpriced compared to their expected payout.
My buddy bought a warranty with a house he bought ~10 years ago and got his money worth easily from water heater, air conditioner, etc. but his was 5 year coverage or something like that.
|
I still don't want to bet on being the minority. I don't buy insurance for anything I can afford to self insure. I'm sure most members here can self insure any home appliance.