Actually, according to this article, certain kinds of insurance are less effective at optimizing happiness, because we are psychologically equipped to adapt to

Actually, according to this article, certain kinds of insurance are less effective at optimizing happiness, because we are psychologically equipped to adapt to new (bad) circumstances: http://www.wjh.harvard.edu/~dtg/DUNN%20GILBERT%20&%20WILSON%20(2011).pdf http://www.wjh.harvard.edu/~dtg/DUNN%20GILBERT%20&%20WIL... (page 6 for remarks on insurance) Obviously, certain kinds of disaster pose a greater threat to happiness than others. For example, health insurance may be a worthwhile investment for some, while property insurance may not.