From: utzoo!decvax!ucbvax!ARPAVAX:CAD:teklabs!tekmdp!azure!michaelh
Newsgroups: net.cycle
Title: To insure or not to insure
Article-I.D.: azure.941
Posted: Fri Jun 11 10:07:42 1982
Received: Sun Jun 13 02:08:28 1982

Insurance is a bet. You are betting that your bike will be stolen;
the insurance company is betting that it won't. On the average you
will pay more money for insurance than you would have to have paid
for the calamities you are insuring yourself against. (Otherwise
insurance companies would quickly go out of business -- they win
the bet more often than you)

My own rule of thumb is to insure myself against those things which
might ruin me or my family financially (fire insurance, life, 
liability auto, etc.), and to avoid owning non-essential things which
I cannot afford to lose. 

Mike Henry