US and the Bahamas Insurance?!

[ZoroMan]

I detest insurance companies. If the rates were "reasonable", maybe. But a very high percentage of my money every year goes to "insurances"...

And that is just plain criminal.

[wsmurdoch]

Think of it from the insurance company's point of view. They have to advertise so that you know their name and you trust them. You pay for that. They have to have some people in Hartford, Connecticut who guess the chance they will get a claim from you, and who guess the likely amount of the claim. You have to pay their salary. There is a local agent who needs to support his family with an office in a building with rent. You pay your share of that too. Next, you toss yourself in with a group of people who chose to buy insurance rather than carry the risk themselves. Ever wonder who those people are? Are they good risks or are they poor risks? Which are you?

Anyway, the payout on insurance is not a number greater than one. There is no reason to expect it to be so. In fact, it is probably not "reasonable". But is it "criminal", nah.

If you have to have it, buy it. If not, well, don't.