Some insurances are not worth getting, obviously. Like insurance on laptops or music players. But that insurance in general has negative expected utility assumes no risk aversion. If you can handle the risks on your own—if you are effectively self-insuring—then you probably should do that. But a house burning down or getting a rare cancer that will cost millions to treat: these are not self-insurable things unless you are a millionaire.
Some insurances are not worth getting, obviously. Like insurance on laptops or music players. But that insurance in general has negative expected utility assumes no risk aversion. If you can handle the risks on your own—if you are effectively self-insuring—then you probably should do that. But a house burning down or getting a rare cancer that will cost millions to treat: these are not self-insurable things unless you are a millionaire.