Well, insurances are profitable companies. No matter how you look at it, in average they will always make more money of a single insuree than what they pay out. Knowing this, if you can afford the potentially expensive hit, it’s better to not insure or insure as little as possible.

That been said, not many people can afford to not have an insurance as a big hit can create a lifelong debt. Whereas when you do have an insurance, they find a way to not pay and you end up with a lifelong debt. Oh wait…