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Insurance and Extraordinary Risks – Quote by Harry Browne

„Insurance is meant for extraordinary circumstances. You don't use car insurance to pay for oil changes or gasoline; you have it as protection in case you have a terrible accident or your car is stolen. You don't use homeowners' insurance to pay your electricity and water bills; you have it as protection in case a fire or other catastrophic event produces a large expense. Obviously, any insurance policy that promises to cover every small, ordinary expense is going to be much more expensive than one that covers only extraordinary expenses.“

Harry Edson BrowneHarry Browne explains why insurance protects against extraordinary risks rather than funding everyday expenses.
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Harry Edson Browne was an American writer, libertarian political activist, and investment advisor.

Harry Browne presents insurance as protection against unusually large risks rather than a way to fund everyday expenses.


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Harry Browne quote about insurance and protecting against extraordinary risks

Harry Edson Browne (1933–2006) was an American writer, libertarian political activist, and investment advisor. He was the Libertarian Party’s presidential nominee in 1996 and 2000. Through his books and political activities, he advocated personal freedom, limited government, and voluntary cooperation.

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