Welllll....... if insurance was ONLY based on whether you LOOKED old, then you and I would have been getting OAP rate for the last 30 years.......
Secondly, what shops do you use where you need insurance before you dare enter.....?
Buying insurance is NOT like buying a loaf of bread. It's not an 'item' that you are buing, it's actually much more like going into a betting shop, only this time, you are betting that you won't LOSE rather than betting that you might WIN!
In a betting shop, the same logic applies, you 'pay' in accordance with the size of the payout you 'want' and the likihood of it that event occuring.
So... the question is..... would YOU bet that my Village team would win the FA Cup if you stood to gain the same payout that you'd get if you'd bet Chelsea might win it.....? You'd get 10,000:1 on my village winning but, what... 20:1 on Chelsea. I don't think YOU'D want to bet on my village when you would have MUCH more chance of winning by betting on Chelsea if they were BOTH a 20:1.
Ian
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