Of COURSE insurance has a negative expectation (not $0) in absolute terms - but this doesn't make it a bad idea! We don't live on expected value - we live on actual, highly variable outcomes. I'm happy to lose expected value to offset catastrophic losses for small-probability events, like early death, car accidents and fires.
I will continue happily paying my insurance premiums, and ardently hope that I never get any of that money back.
Of course, there may be specific types of insurance/warrantee programs that are a bad idea for one reason or another, but that's not an argument against insurance in general.
I will continue happily paying my insurance premiums, and ardently hope that I never get any of that money back.
Of course, there may be specific types of insurance/warrantee programs that are a bad idea for one reason or another, but that's not an argument against insurance in general.