Insurance doesn't make sense for small losses that you can pay for yourself. If you don't like the feeling of paying for stolen things, you could be your own in

Insurance doesn't make sense for small losses that you can pay for yourself. If you don't like the feeling of paying for stolen things, you could be your own insurance company instead, putting the regular premium into a savings account that you spend only to replace lost items. Over your whole life, it'll average out. Plus you get the advantage of better aligned interests and no profit skimmed off the top. What insurance is good for is catastrophic costs that will probably never happen in your life but if they do, they'll ruin you. Things like crashing into a million dollar car or having your house burn down.