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I've been paying for auto insurance since I was seventeen, and have never collected on it. Looking back, it might look like a bad investment, but was it?

Quote: billryan

I've been paying for auto insurance since I was seventeen, and have never collected on it. Looking back, it might look like a bad investment, but was it?
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Insurance is almost always a bad ‘investment’.

I always decline the car rental insurance add on. Don’t know how many $$ I’ve saved over the years. Once had an issue that cost me my $500 deductible from my regular car insurance. I was grumpy paying that $500, but still was happy for the multiple of that I’ve saved over the years.

Quote: billryan

People who had a sound financial plan managed fine, while those who thought that diversifying meant having five different S&P 500 funds didn't.

extremely silly post - surprise, surprise, surprise
no reason for anyone to have 5 or more than one since they all return the exact same %

.

My nephews are not big believers in Wall Street. They only keep about 20% of their money in stocks. They claim it is what their peers are doing. It appears to be working well for them. Ten years ago, I was convinced my youngest nephew would live in my sister's basement for life, but happily, I was very wrong.

Quote: SOOPOO

Quote: billryan

I've been paying for auto insurance since I was seventeen, and have never collected on it. Looking back, it might look like a bad investment, but was it?
link to original post

Insurance is almost always a bad ‘investment’.

I always decline the car rental insurance add on. Don’t know how many $$ I’ve saved over the years. Once had an issue that cost me my $500 deductible from my regular car insurance. I was grumpy paying that $500, but still was happy for the multiple of that I’ve saved over the years.
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I have always declined also. I have no idea how many days that I have rented a car and what I have saved. I would guess that I have well over 500 nights of car rental. If I ever do accept their insurance it will because I have every intention of collecting on it.

Quote: DRich

Quote: SOOPOO

Quote: billryan

I've been paying for auto insurance since I was seventeen, and have never collected on it. Looking back, it might look like a bad investment, but was it?
link to original post

Insurance is almost always a bad ‘investment’.

I always decline the car rental insurance add on. Don’t know how many $$ I’ve saved over the years. Once had an issue that cost me my $500 deductible from my regular car insurance. I was grumpy paying that $500, but still was happy for the multiple of that I’ve saved over the years.
link to original post

I have always declined also. I have no idea how many days that I have rented a car and what I have saved. I would guess that I have well over 500 nights of car rental. If I ever do accept their insurance it will because I have every intention of collecting on it.
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Yeah those waivers are very profitable for the rental company, and the clerks get a commission for selling it as an add-on.

I have a business model for a car rental company that also ships and loads your checked luggage. You'd bring your luggage to their drop-off at your departure airport 24 hours before your flight, and they fly it as consolidated cargo to your destination airport. You get on the plane with just your carrion, and when you arrive, a rental valet shows up with your car and your luggage is already loaded in the trunk. He checks your ID, gives you the keys, then heads over to the arrival terminal to wait for someone returning a car and the process is reversed- he takes the keys, gives you a receipt, drives it back to their depot where your luggage gets flown as cargo back to your home airport and the car is refreshed.

Aside from the convenience and cost savings of not having to deal with an airline's checked luggage problems and costs, such a car rental company would see savings in not having a rental office or counter, which is usually on prime real estate, and instead could just have a lot a few miles away from the airport. Then the only customer-facing employees they would need would be these valets loading and unloading the luggage and driving the cars back and forth.

Quote: AutomaticMonkey

I have a business model for a car rental company that also ships and loads your checked luggage. You'd bring your luggage to their drop-off at your departure airport 24 hours before your flight, and they fly it as consolidated cargo to your destination airport.

I hate to say it but that sounds like a horrible idea. What traveler wants to be without the majority of their travel belongings for 24 hours? I rarely even pack until an hour before I am leaving.