Insurance in general is evil. They are betting you won't need it, you are betting you might. Of course, here in the Land of the Free and the Home of the Brave insurance is "mandatory" if you want to drive a vehicle you must carry liability insurance. If you buy a new vehicle they will rape you in your anus for full coverage until you pay the vehicle off! Sure hope that new car smell is worth it!
My insurance has gone up over 100 dollars in less than 18 months. I haven't had an accident, gotten a ticket, filed a claim, I have excellent credit, and I am old, a homeowner and should get some decent rates. Nope! It started out pretty good. Then the following six months it went up 55 dollars. Then another six months went by and it went up another 55 dollars. Enough!
I went to my insurance broker and told him I had two increases in a year and I haven't put enough miles on the vehicle to need an oil change yet! He tried to sweet talk me about the perils of not having enough insurance. Hell! If you are found to be at fault you don't have enough insurance no matter how much you got. You're screwed! Period.. That simple. I'm a white American. I have to obey the law. The low lifes and the "undocumented " don't worry about shit like that but I have to!
I informed him the insurance company had gone to far and to reduce my insurance to the absolute least amount required by law and not one cent more! It dropped 260 dollars for 6 months. A savings of over 520 dollars a year. I then reduced the coverage on my 22 yr old motorhome and saved a few more bucks there! 520 dollars is a lot of money when you are retired. You know how much red wine you can buy with 520 bucks? ha ha ha ha
It is ironic that now that I can afford brand new vehicles I choose to buy used instead. Another example of common sense outweighing the need to show off! I would rather waste my money on cable television and pizza than drive around in a brand new shiny over priced car the must be fully insured!