Is insurance worth it?

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My friend asked me this, and I laughted at her. I said you would be completely stupid without it. Now if you caught without car insurance you can be charged, I am not sure about house insurance (when you own it), I know renting you don;t need it but it's recommended. She was telling me about this girl she knew, who owned her own house, and it burnt to the ground, now she walks off with nadda. Now my parents have always have house insurance, it's something like $550 a year (which I don't think is bad), depending what you want covered I believe they have a decent coverage. In college I rented and never had insurance, but then again I didn't have much value with me, I think the only thing worth wild was my laptop (which well lasts about a year if that - so no worries in my mind). I had clothes at home, and basically half items, so if a house fire, or theft it would be very little. Now if I were to leave now and rent I would get it. When I own I will have full coverage insurance, something may not happen for years, but that's when you may need it. My parents have paid 30 years into insurance and never had to use it, but they said better safe than sorry. I hear this all the time where people say it's a waste of money. Well they are the ones walking out of a house fire with nothing, then trying to get people to give them things and feel sorry for them (not paying insurance). Now if my parents place burnt to the ground 95% of the items would be covered seeing as their policy covers the damage to the house, and belonging inside, so this means valuable laptops, clothes everything.