Although that's true, that wasn't quite what I was tryingt to explain. At some point buying cover for very likely outcomes or reducing deductibles really starts to look more like a payment plan than insurance.
By doing this I know I am costing myself money, ie the additional cover costs more than I think I am ever likely to benefit from it. I know this upfront but it is still valuable to me because I can rationalise it as a fixed cost and then simply not have to think about a later spending decision, which means I do things which make me happier and/or healthier, even though I could do those same things for lower cost.
It's some combination of valuing certainty and being able to separate the spending from the activity.
By doing this I know I am costing myself money, ie the additional cover costs more than I think I am ever likely to benefit from it. I know this upfront but it is still valuable to me because I can rationalise it as a fixed cost and then simply not have to think about a later spending decision, which means I do things which make me happier and/or healthier, even though I could do those same things for lower cost.
It's some combination of valuing certainty and being able to separate the spending from the activity.