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The house always wins.

In the long run, all things being equal, it's cheaper to never insure and instead pay out of pocket for your losses.

I'd only insure for truly financially ruinous scenarios. Not for material goods or airfare, etc.



> In the long run, all things being equal, it's cheaper to never insure and instead pay out of pocket for your losses.

Only in aggregate, not necessarily for any given individual.




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