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Insurance companies don't make money off of premiums, i.e. from actually insuring people.
For every dollar they take in premiums, they pay approx one dollar in claims / operating costs.
They make money by investing the money while they have it (i.e. after they take in the premiums but before they pay it out in claims).
Also, bodyshops and towtruck drivers are crooks who make disgusting amounts of $$. They act all blue-collar, but you should see the houses some of these jerks live in.
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