Definitely. As someone once explained it to me, you always overpay for insurance and you're right (from a marginal utility/risk of ruin standpoint) to do so.

Definitely. As someone once explained it to me, you always overpay for insurance and you're right (from a marginal utility/risk of ruin standpoint) to do so. That's why the vol skew is pretty much always such that crash puts are more expensive than oom calls.