Originally Posted by
CliffordK
Hopefully your bikes have been found.
I'm not a big fan of insurance. I've had a glass item that I did pay for insurance on. Then when it arrived broken, I took it to the post office where they agreed it was broken, and thus didn't qualify for insurance.
If one ships enough stuff, then hopefully losses and insurance cost would even out.
You may or may not fully relinquish control if you accept the insurance payout. With something like homeowner's insurance, you may have an option to buy the item back.
Although, shipping insurance may mean it is destined for a black hole.
Unfortunately, no luck.
Insurance is a scam. They do everything in their power not to pay you, but you better pay them.
Furthermore, obviously it's a business, not a charity. Insurance companies don't sell policies that they'll lose money on on average. Therefore, if we rebuked insurace as a collective class and refuse to purchase it, we would have more money on average, not less. Of course there would be a not insignificant percentage of the population that got royally screwed due to no one carrying insurance.