What do you think? And why?
Yes that is what insurance is about, they take the risk. Health insurance is what it is called but it really is just catastrophic illness coverage. What we spend annually on health insurance would completely cover your normal doctor visits with a lot to spare. Think about the typical adult male - who goes to the doctor twice a year for the flu or a sinus infection but pays a copay and $250 per pay period for his own coverage. That's pure profit and what we should be asking is why don't we want the insurers to charge people more? If you are healthy and watch what you eat, workout and don't smoke -- do you want to subsidize someone that is overweight, smokes, doesn't exercise and eats fatty foods? Where is there penalty for choosing that lifestyle?
Insurance is a protection against a future claim, like auto insurance and loans. They know the risky patients or customers when they write a policy. The possibility of a claim from a risky patient will cost them more, so they calculate their monthly premiums based on how risky you are for them to pay out a claim.
If insurers don't have the right to determine who's a smaller risk and who's a greater risk, that means everyone pays the same price.
So as soon as you're willing to pay the same car insurance rates as a 16 year old boy with three accidents under his belt, let me know.