Augusta
VIP Contributor
I'm just a bit perplexed with the insurance Principle of. Idemnity that only compensate an insured to his or her original position. Yes I know that insurance company is a profit making business but restoring an insured just to it's former position before an incident happened seems not to be fair.
Like they are always only willing to compensate a person to an average position even when the premium can buy a new of that thing that was damaged and they need to replace.
I think this Principle isn't fair on the insured. It like one is getting too little of the premium paid to the insurance company.
What do you think about this Principle. Do you think the insurance company are being rational with instituting this Principle
Like they are always only willing to compensate a person to an average position even when the premium can buy a new of that thing that was damaged and they need to replace.
I think this Principle isn't fair on the insured. It like one is getting too little of the premium paid to the insurance company.
What do you think about this Principle. Do you think the insurance company are being rational with instituting this Principle
Last edited: