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| p.1 #13 · Nikon 500mm f4 VRII got broken |
insurance is just a guaranteed loss year after year.
even if you trash all your stuff or you get it stolen out of a car you still aren't gaining anything if the stuff eventually gets replaced.
This is completely absurd.
Insurance is for things you can't afford to replace if they go missing/get broken. Things like your body (medical insurance), your house, etc.
As a dedicated hobbyist who has a fair amount of gear, I can't reasonably afford to replace it all if it were to, say, get stolen - which happened to me about 6 years ago, when my house was burglarized. The replacement insurance covered more than $15,000 worth of stolen goods. Even if I were diligent about putting aside money instead of spending it on premiums, it would not have come close.
Where insurance really falls down is on things that are either relatively inexpensive to replace (e.g. small electronics), tend to fail in small pieces (e.g. extended warranties on cars), or are pure luxury items that don't need replacement. Even there, sometimes it makes sense.
There are lots of times and people for whom insurance is a waste... but it's not so black-and-white as you make it out to be.