Most people understand the reasoning behind purchasing insurance for health, homes, and vehicles. You can buy insurance on other items like I-pods, computers, nice furniture, and expensive paintings too, but why would you? The price of some of those items is expensive, but do you really want to pay a few dollars a month in addition to that? In some cases it may be worth it, but you should consider the life of the product before jumping into an insurance contract. For instance, insurance on your I-pod is nice, but you are most likely going to buy a new I-pod in two or three years anyway, so why worry about it? Some items require insurance, but others do not.