this post was submitted on 06 Oct 2025
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[–] RidderSport@feddit.org 2 points 2 weeks ago (1 children)

Health insurance in the USA maybe and a couple of other insurances may seem that way. However your private saving can only be so much. Get into an accident in your car - the 10 million in damages is paid by the insurance. Your car is broken afterwards and you manage to cause an accident on your bicycle- the damages is covered by your normal damage insurance. You are injured - the costs are not covered by your insurance. Hence you sue the insurance - your legal insurance covers the six-figure legal fees.

Now I could spin that further without deviating much from reality - even in Europe. Yes technically you're better of saving the money instead of spending it on insurance - that however is a gamble on your bad luck. Great if it works out - there's likely no way you could ever save enough to cover all eventualities