Many products these days now offer optional insurance.
Does it make sense to buy the insurance?
Well that's up to you as an individual, however, I have decided to always decline insurance.
My logic is that in the long run after many years, I'm going to come out ahead.
Insurance was invented in the first place to cover catastrophic loss.
Plus, it's often difficult to recover money from claims.
I never buy insurance unless required by law and then I try to spend the least amount as possible.
Nexus Mutual provides cover against smart contract failure & exchange hacks.
https://nexusmutual.io/
When it comes to crypto related insurance, I take the stance that I take with insurance in general.
That's not to say it's not worth it.
It depends how you are investing, however, it's very important to study the insurance deeply which I haven't done.
As an example, if you want to put a huge amount into the Anchor protocol and insure it, you need to:
Study the insurance contract that protects it closely
Study Nexus Mutual closely
Study the Anchor protocol closely
I like to study one thing, get a deep understanding on it and then make investment decisions.
Join me on Discord: https://discord.gg/sc28FPVyv2
Youtube: https://www.youtube.com/channel/UCT4X1qiEPR0gsZYfze6JOyA
Twitter: https://twitter.com/davelevine0com
Timestamps:
0:00 Intro
0:15 How I view insurance
5:49 Smart contract insurance
8:55 My investment method