Agree with the article as a general principle, but there are some exceptions. By definition, successful insurance companies are offering negative expected valu

Agree with the article as a general principle, but there are some exceptions. By definition, successful insurance companies are offering negative expected value bets to their customers, all else being equal. But all else isn't equal. The insurance company has efficient legal representation, so a situation with legal liability might be +EV for both of you. The insurance could cost you less than (legal fees + damages)*chance-of-event, whereas the insurance company specializes in the case law and has in-house staff, meaning lower legal fees and lower average damages/settlements. Sometimes insurance is tax advantaged. And it can take stress of your head. And they might take some time hassle off your head - a girl I dated some years back got the full maintenance/insurance package from the dealer when she bought a car, which I thought was crazy... but then she knew that all she needed to do was stop at the dealership instead of screwing around with mechanics, and they treated her very nicely consistently. Your time in a situation like that might be worth more than the bucks you save. So yeah, all else being equal, insurance on things you can eat the cost of isn't a good buy. But all else isn't always equal.