Particularly auto insurance.
One of the biggest rackets to exist, insurance allegedly offers money to cover for accidents.
The way this works is that they take a monthly premium. Many people pay this premium, it collects into a big pool, and anyone who has an accident gets a share of this money to fix his car. Sounds simple right?
What actually happens is one pays the insurance monthly for years without having an accident. When one does get into an accident, their insurance premium goes up (almost doubles in some cases). People argue that this is to cover the cost of damage.
What then, about the previous years of insurance one paid? What was the point of all the accident free driving if the company increases the client's monthly premium to cover the accident?
As one can tell, insurance has evolved from what was supposed to be a welfare concept to one of the biggest scams, preventing young drivers and students who are just starting to drive on a tight budget from ever driving again, using public transport for ever.
One of the biggest rackets to exist, insurance allegedly offers money to cover for accidents.
The way this works is that they take a monthly premium. Many people pay this premium, it collects into a big pool, and anyone who has an accident gets a share of this money to fix his car. Sounds simple right?
What actually happens is one pays the insurance monthly for years without having an accident. When one does get into an accident, their insurance premium goes up (almost doubles in some cases). People argue that this is to cover the cost of damage.
What then, about the previous years of insurance one paid? What was the point of all the accident free driving if the company increases the client's monthly premium to cover the accident?
As one can tell, insurance has evolved from what was supposed to be a welfare concept to one of the biggest scams, preventing young drivers and students who are just starting to drive on a tight budget from ever driving again, using public transport for ever.
by deadbunny97 September 7, 2016
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by Hello123212 March 27, 2009
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when you tell someone a joke quietly to ensure joke insurance and the other person says the joke to the crowd and doesnt give any credit.
"wow he just commited joke insurance fraud, he literally just repeated the joke i told him to test the joke. hes basically carlos mencia!"
by ianpauli November 1, 2009
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He used his excellent spooge-itsu technique to kill 4 ninjas before they could get closer than 15 yards!
by Mr.Quackers5380 August 26, 2009
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Alex: Things with Jade and I are ok, but I don't see it lasting too much longer.
Hassan: It's all good bro, you have an insurance girl right?
Alex: Yeah, Casey.
Hassan: It's all good bro, you have an insurance girl right?
Alex: Yeah, Casey.
by Ninenine222 July 13, 2012
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Barry: Did you have status insurance?
Keith: Yeah Bernard was all over it like a rash
Barry: Did you have status insurance?
Keith: Yeah Bernard was all over it like a rash
by diago sanchezzio October 15, 2009
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by jokerman15 January 1, 2012
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