What? Insurance is about spreading loss around to make costs more predictable. Your house burns down, but since we're all paying into our insurance we all cove

What? Insurance is about spreading loss around to make costs more predictable. Your house burns down, but since we're all paying into our insurance we all cover your costs so you can rebuild and not have your life irrevocably destroyed. It's the opposite of gambling. It's about reducing randomness, insecurity, and financial shocks.