That is probably true because most people are lucky and do not have to file a claim. And a small number will receive way more than they pay in because they have a large claim. The purpose of an insurance policy is to cover the cost of an expensive unanticipated event.

A couple years ago I was on a guided bike tour. The guide was living out of his Chevy van because he was flat broke. He had a back injury several years earlier (he bicycled off of a cliff) and filed medical bankruptcy because his medical costs were over a quarter million $USD. I am not sure how many years that he had been living in a Chevy van or how many more years he was going to have to, but basically any income he got over and above a small amount was being pulled out of his pay checks to pay down his debts.

I have health insurance, when I travel out of the country I buy travel insurance that includes medical, condo insurance on my condo (similar to a renters policy) and I have insurance on my truck in case I hit someone or am hit by an uninsured driver. But, I do not have collision insurance on my truck, so if I hit something and total my 2003 truck, I am out the value of a 14 year old truck.

Do I consider myself bad at math? No, not when I have degrees in Economics and Geological Engineering, it would be hard to obtain those professional degrees if I was bad at math.