Insurance is incredibly useful, absolutely. And should definitely exist. I also think that a lot of people pay for insurance that doesn't make a whole lot of s

Insurance is incredibly useful, absolutely. And should definitely exist. I also think that a lot of people pay for insurance that doesn't make a whole lot of sense though. If you could afford to replace the thing you're insuring out of pocket, you probably shouldn't be insuring it. I only pay for third party car insurance because I can just buy a new car if I total it, but I can't buy a new Lamborghini for the person I crashed into. I don't pay for contents insurance at all because I can buy a new bed and laptop if my house catches fire. Insurance companies have done the math, your EV for insurance is always going to be negative (on average), you should only insure against costs that you can't afford to pay in one big lump sum if they happen. Insurance is effectively a loan for things you already own, just put that money in a savings account instead.