Insurance is a scam

I believe that insurance is one of the biggest ripoffs that exist today. You pay hundred dollars a month for health insurance and car insurance and don't need it 95% of the time. You are paying for a service that you don't use, but you have to have it otherwise when an emergency hits you will be in debt for the rest of your life. And what happens when you use it? They raise your rates. And insurance companies are constantly finding ways to avoid paying for things in your policy. They have so much red tape and fine print that they can get around major expenses. And even if you don't use it much, they still end up raising your premiums every year for unexpectedly high amount of claims for the company. Because someone else got sick that I don't even know, you are going to penalize me for it? I'm not even going to get into the argument about free health care which is offered in other countries. Michael Moore did an entire documentary dedicated to that topic.

Insurance is a fraud in other areas as well, such as extended warranty plans. You pay extra to be covered "just in case" and when something really does happen, that is not covered under your warranty. I purchased a cell phone with insurance that was paid every month and when I needed to replace my phone due to damage there was a $75 deductible. Why do you waste your money on an insurance plan that doesn't end up saving you all that much in the end anyway?