Yeah, insurance is a fundamental, necessary piece of civilization and has existed since before Hammurabi. But it has also been abused by profiteers since then too, and it’s not always easy to tell the difference. In a cut-throat, free market, capitalist driven economy, the incentive is to cover nothing for high premiums. A scam, essentially. Add a law where corporations are people and unlimited political donations is free speech and you’ll have enourmous pressure put on politicians to keep the insurance industry unregulated (except making buying it mandatory). Thus Geiko is allowed to exist. Lower premiums, but you are essentially uninsured for anything more than a minor fender bender. Paying premiums for nothing. This is bad for everyone involved in an accident except the insurance companies.
dubyakay@lemmy.ca 11 months ago
Wouldn’t that deter potential clients from purchasing your products though and go with the competitor who actually offers better terms?
AA5B@lemmy.world 11 months ago
Not if you have an anthropomorphic lizard telling you to buy theirs
dubyakay@lemmy.ca 11 months ago
Shit, I’m not from the US, but now I’ve realized that their ads are so pervasive, I’ve seen them before as well. And now I also realized that we have a Canadian equivalent.