Rejection Of Insurance

Some people think of insurance as a form of bets that apply during the policy period. Insurance companies are betting that property buyers will not be lost when the buyer pays the money. 

The difference in fees paid to the insurance company against the amount they can receive when the accident happened about the same as if someone bet on horse racing (eg, 10 to 1). For this reason, several religious groups including the Amish avoid insurance and depend on support received by their communities when disasters occur. In communities close relations and supportive environment where people can help each other to rebuild lost property, this plan can work. Most people can not effectively support the system as above and this system will not work for large risks.