Insurance is a tricky business precisely due to the fact that you never really know when you are going to need it. You can be paying into home insurance or health insurance for years with barely a claim to your name when some thunderbolt hits you from the blue and you have to make a sizeable claim.
Most insurance is optional except certain mandatory insurances such as mortgage life cover or third party car insurance. The fact that you may never need to use it means that some people are tempted to skip the insurance to save money.
Unfortunately these people do run a huge risk of being left high and dry if anything happens to them.You hear of so many sad but true stories of people who have gone on holiday without travel insurance and have had an accident; or others who have not bothered with the house insurance and then have been burgled or had a fire.
This of course is very distressing to hear, but they have taken the risk knowingly to save money. Life is undoubtedly filled with risks and unforeseen circumstances making taking out certain insurances a sensible task to perform.
Statistically you are going to have to call on your insurance at some time or other, whether it is for something fairly minor or something pretty major. If the worst does happen in any shape or form at least you can have peace of mind if you had the foresight to take out insurance.