Comment by andruby

Insurances have a "loss ratio" (premiums vs paid claims) that has different ranges depending on the type of insurance.

> Gadget/Electronic Device Insurance typically operates with loss ratios between 30% and 60%. This means that 30–60 cents of every premium dollar are paid back out in claims. [0]

In other words, on average people pay twice as much in premiums than they would have without insurance. So you'd need to be way more clumsy/unlucky than average to make it worth it.

Of course, the peace of mind can be valuable too.

[0] https://www.swissre.com/dam/jcr:dfcf4d4a-d6f6-424c-949f-7940...