Scenario: I pay X amount of dollars per month for car insurance. I have all 4 tires stolen from my vehicle overnight. I submit a claim with my insurance company to repair any damages. I now pay a **hefty** X amount of dollars for the event that has occurred.
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I just wanted to add that there are many countries where the deductible doesn’t exist. Deductibles are mainly a thing in USA. A cynic in me is saying that it’s simply a money grab, similar to fees, tips, market-value dependent property tax and other things that are common in the US, but not so common in other places.
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