Carl Turney wrote:
Regarding "not paying for insurance is just a stupid financial decision".
Only 60% of the annual income of the average insurance company goes back to the punters as honoured claims.
Because contracts of insurance have many features in common with wagers, insurance contracts are often distinguished under law as agreements in which either party has an interest in the "bet-upon" outcome BEYOND the specific financial terms. [...] Nonetheless, both insurance and gambling contracts are typically considered aleatory contracts [...] https://en.wikipedia.org/wiki/Gambling#Insurance I never understood how that's enough of a difference to yield the "insurance good! gambling bad!" logic that people tend to hit me with.