There's a huge difference between insurance and buying stuff from a store -- at a store I buy things when I have a higher utility for the item than the cost to

There's a huge difference between insurance and buying stuff from a store -- at a store I buy things when I have a higher utility for the item than the cost to the manufacturer to produce and sell it to me. Insurance is a zero-sum game. Actually, the article addresses that: "The difference is quite fundamental. It’s that insurance is fundamentally zero-sum — the only transaction is money going back and forth. When you buy a refrigerator, say, your value for it is huge. (If refrigerators cost $50k you’d probably suck it up and buy one — how the hell are you going to live without a refrigerator?) So you come out way ahead when you get it for [I haven’t actually the faintest clue what a refrigerator costs]. And Maytag or whoever does too. Win-win! Insurance is fundamentally either win-lose or lose-win."