Originally Posted by Volga981

Insurance never works for those who experience the event often - it is always better to insure yourself. (Otherwise, how would the insurer make the money?) The effect is called Law of Large Numbers.

Insurance works for those who might or might not experience the event; i.e., those who do not fly often and want to protect themselves against the risks. It is probably safe to say that the majority of the people on this forum do not fit this category.