> If you can afford to replace everything you own out of savings, good for you, but most people can't. Exactly this. The advice I was always given is that if y

> If you can afford to replace everything you own out of savings, good for you, but most people can't. Exactly this. The advice I was always given is that if you can afford to replace x (whatever x is) if something bad were to happen, then it's better not to bother. But if you can't, and x is necessary for your life, then you need to accept insurance as a necessary evil.