A very high percentage choose to buy a house or car, or have children as part of their life planning when things look fairly stable. When you grow up and have adult responsibilities, the youthful feeling of invulnerability starts to fade.

Your advice would be good if there were a way of knowing upfront whether you were in the 80%.

Assuming that you are lucky is an extremely poor planning strategy that, yes, much of the time will result in better outcomes than not.

That said, it will also result in some highly negative outcomes in other situations.

Insurance has value.

Try repeating this assertion after getting into a car crash yourself