02-02-2005, 04:33 AM
Yeah, I apologise, I was a bit too blunt. The higher excess is definately a good way to go, as is just covering (hedging) what you need. I was referring to what most people I know here (NZ) use insurance for: expected regular expenses, low deductible insurance, and insurance that is overpriced for the probability of the events happening.
As a side note, we have an Accident tax here. 1.34% of your income goes towards a government fund to cover accidents in the workplace. It's just insane...
The only time that anything has happened in our workforce (Software development) where I thought there might be a payout was a manager (about 35-40) who had a heart attack... however this is not an accident...
P.S. Shadow, good to see that there are people that think before purchasing insurance. My parents can't comprehend how I have no contents insurance... The only thing I own of value is this 4 year old computer that I wouldn't even get a payout for, and that I could afford to replace hundreds of times over.
As a side note, we have an Accident tax here. 1.34% of your income goes towards a government fund to cover accidents in the workplace. It's just insane...
The only time that anything has happened in our workforce (Software development) where I thought there might be a payout was a manager (about 35-40) who had a heart attack... however this is not an accident...
P.S. Shadow, good to see that there are people that think before purchasing insurance. My parents can't comprehend how I have no contents insurance... The only thing I own of value is this 4 year old computer that I wouldn't even get a payout for, and that I could afford to replace hundreds of times over.