Which is nonsense, the whole point of insurance (and why most people should purchase insurance) is to pool risk so to cover high costs that most can’t afford for themselves.
GP is saying that insurance makes sense for things too expensive to replace on your own, like houses and cars, but not cheaper things like consumer electronics.
“Insurance is never a good idea in general” is a bit too extreme. Not all hedges have to be about protecting you from a wipeout. It’s about opportunity cost for the premium vs the risk (magnitude x probability).