The Finch Formerly Known As Gold

26 October 2007

Quote of the week

The always-quotable Tamara K.:

[M]ost folks believe that insurance companies are some sort of fairy godmothers that exist to shower free money on them if something bad happens. Nothing could be further from the truth. Insurance companies are legal bookies.

For instance, say I want to bet an insurance company that I wouldn't run into an immovable object with the Zed Three this year. They look at me, plug a bunch of factors into a computer (single chick, sports car, but pushing 40 and no moving violations), squint, poke a calculator, and offer to bet me $XXX dollars that I will keep my car out of the ditch for the next twelve months. If the sum seems reasonable, I take the bet. If there are no car/tree interfaces over the time period, the insurance company wins and keeps the money. If they lose, well, too bad for them.

I'm further impressed that her (unnamed) insurance carrier is charging less than $XXXX, which is the amount I have to peel off yearly to defend Gwendolyn against various perils.

Posted at 6:57 AM to QOTW

Insurance -- the only game of chance where you're actively trying to lose the bet.

Posted by: McGehee at 8:00 AM on 26 October 2007