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It is not literally true that buying insurance is saving money. Insurance is designed to give you financial protection from specific problems. For example, if your house burns down but you have fire insurance, you will be compensated and will be able to buy another house. That would save you money, as compared to what would have happened if your house burned down and was not insured, forcing you to spend money on another house or some other form of housing. But if your house never burns down and you have fire insurance, then the fire insurance is just an expense, it does not save you money.

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12y ago

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