Do you gamble? Do you bet on yourself or against yourself?

@savak03 (6684)
United States
May 11, 2016 2:40pm CST
I have always felt that insurance in general was at best a bet against yourself. I never buy insurance unless it's mandated by law and I can't get around it. Insurance started out as a scam by the gangs in New York. Back then it was called extortion. They would tell a shop owner that if they didn't pay, something would happen to their shop. Those that didn't pay had the same gang break in and tear the place up. Those who don't study history are doomed to repeat it. These days you can get insurance, called extended warranties on electronics, appliances and even cars. The question is, are these warranties all they are cracked up to be? Most of them are explained in such double speak that you are not sure what you are buying. Not only that, the extended warranty won't even take affect until the manufacturer's guarantee is exhausted so if the warranty from the manufacturer is for a year you will be paying premiums on an insurance that will be useless for twelve months. Here's a link to an article that explains this more fully. <a href=" [ALERT] Gadget Insurance and Extended Warranties (Ask Bob Rankin) I can see I need to learn how to make links clickable but you can copy and paste it to read the article.
[ALERT] Gadget Insurance and Extended Warranties - I have never been a fan of insurance or extended warranties (both referred to as simply “insurance” henceforth) for electronic devices or even appliances. In fact, I make no bones about my disdain for thes
4 people like this
2 responses
@sol_cee (38223)
• Philippines
11 May 16
Airplane insurance costs a fortune. But then you can't help thinking about the many what ifs. So in the end I always buy one. Begrudgingly. lol
1 person likes this
@savak03 (6684)
• United States
11 May 16
Well, here's my take on airplane insurance. It might be a little morbid. If anything happens to the airplane I am flying in most likely I won't live to see the outcome. So why do I care about money after that? And if by chance I was to survive a plane crash it would be the airlines who were responsible so they would either pay what was needed voluntarily or some shyster lawyer would force them to. Either way, I think I would forgo the insurance and use that money on something more tangible.
@sol_cee (38223)
• Philippines
11 May 16
@savak03 morbid yes but has a ring of truth to it.
1 person likes this
@savak03 (6684)
• United States
11 May 16
@sol_cee Thank you. I try to be logical. Sometimes logic can be taken to an extreme though.
@Hatley (163781)
• Garden Grove, California
11 May 16
Hi @savak I have not had much faith in warranties either as the few times we wanted to use it there were hidden cl a uses that did us out of help.
1 person likes this
@savak03 (6684)
• United States
11 May 16
That's one of the things the article I linked to brought out. I have never been able to collect from insurance either.