this post was submitted on 06 Oct 2025
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The problem is insurance inflates the prices of all the things that take insurance so much that you can't afford it without insurance anymore. I could put the money I spend on health insurance every month into savings instead but if something actually happened I'd never be able to afford the bill.
Which is part of why it may feel like a scam, right?
Insurance should in theory be a good thing, but the manner of implementation means that on-paper costs are outrageously high, but yet your insurance company magically gets a 90% discount on everything for being "in network" - which you as an individual who wanted to pay for your own care couldn't benefit from.
It's the very definition of collusion.
Oh yeah I agree it's a scam but I'm just saying we don't really have a choice unless society as a whole buys into the doing a savings account by yourself thing. It's not feasible on an individual level because you won't save enough money to cover a medical issue.
Good recent example from myself. I was hospitalized a few months ago and the attending doctor wanted to do a test outpatient once I was released. At the time I had no insurance, I was in the process of signing up. I was quoted $300 for out of pocket, so I decided to hold off a month until my insurance kicked in. That test was only a $350 copay with insurance.
Never said it wasn't. I'm just saying trying to save on your own will not work under this system.
It's mandatory in 49 states.
In New Hampshire it is not, if you 100% own your vehicle and it has no liens or debts tied to it and you have not been arrested (not convicted, but merely arrested) for a DUI.
We also have the cheapest insurance (for the population density of the Northeast - I mean, yeah places like Montana probably are cheaper as they have scant traffic on the roads) because it is NOT mandated, so people can tell the insurers to fuck off it their rates are too high.
(but I gotta be honest on this point if you're uninsured and even if someone else is the cause of an accident and they're insured, you're going to have to lawyer up to get paid for the claim. So just on the lawyer angle, insurance is smart.. Heck, just a liability policy wil cover you. Collision.. Well.. if you're a dolt at the wheel and drive off the road and hit a rock wall... that's on you, otherwise.. get that coverage as well..)
Because of this, NH has some of the highest compliance rates - over 90% of all drivers - in the country.
Isn't a truly free market grand?
Yeah collision insurance is.
We have socialized car insurance here in BC, we all pay to the provincial public crown insurance corporation. If they payout less than they anticipate we get rebate cheques.
The image posted shows the person doesn't understand how insurance works. You don't get your cash back if years u retire with no accidents because the nominal cash paid for somebody else that had a crash.