What would you rather have ? Would you have uncertainty at zero cost vs certainty at say $100? Looks simple. I would go for certainty at $100.

Would you take brooding and constant worrying about future at no cost or would you rather have peace of mind at a little premium? I am sure you would also root for peace of mind at a little premium.

Insurance is nothing but buying peace of mind at a little premium. Once you are insured, then you can relax because your near and dear can get that much of money if in case you are not going to be around.

Similarly, you can relax once you take say a home insurance. You spend huge monies on getting the home built or to buy that new house. At a little higher money, at a little more premium, you can also buy peace of mind. The insurance will come in handy if in case something happens to the house .