I think its easier to justify insuring objects because in the case of a total loss the objects value can be replaced in full with money. However when it comes

I think its easier to justify insuring objects because in the case of a total loss the objects value can be replaced in full with money. However when it comes to your health, even billions of dollars will not be able to give you a new live arm if you lost it, or save your life if you have terminal cancer. So health insurance will always be bounded to a point where you can get injured, and simply just die regardless of insurance. Life insurance is less tricky, since you're not really insuring your 'life' but rather the income that your family would lose due to your being accidentally dead.