Seems like many otherwise smart people think in terms of "how likely am I to need this?". Insurance should be thought of in terms of "how screwed would I or my

Seems like many otherwise smart people think in terms of "how likely am I to need this?". Insurance should be thought of in terms of "how screwed would I or my family be if...?". If somebody depends upon your income, get life insurance and long term disability. If you depend on your income, get long term disability. Everyone except for billionaires needs major medical insurance (USA). And stop insuring things that you can afford to replace (warranties generally).