[tjmc]

Good insurance. Paying a fair amount of money to hedge against rare but potentially ruinous events - like your house burning down - is obviously a good strategy. The trick with insurance is finding the sweet spot between paying too much for cover you don't need or too little and being exposed to gaps in your cover. Lately I've been increasing all my excess values to bring down premiums, because I can afford to pay a high excess and it's unlikely I'll need to.