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This is an interesting question. I have never actually thought about this. $26 a month seems very cheap consider it covers quite a few things. Personally, I don’t have personal insurance. The chances of getting into a lawsuit is pretty small although not impossible. Therefore, I don’t think it is necessary to buy insurance for a low risk event like this. Insurance companies are still running today because they make profit which means they earn more than they pay out. They can use probability to earn money but we can use probability to save money. Using this theory, I only buy insurance for high risk events or if the price is very cheap. However, if the personal insurance includes more than just a lawsuit and is cheap, I would go for it to protect myself. Building savings is also another good way to protect yourself when something goes wrong.