I do not like any insurance. I do not need to pay somebody for covering my fear that something bad will happen. It is only trade with a fear. I am the only one that is responsible for my life. Not my parents, not a government or a white coat. I think hospitals are good when you get injured but if you have a headache blame food on your plate, start fasting and get some sleep. I care for what I eat in order to feel good and be healthy. I build a business to have secure money income. I can act anyway I want but I am fully responsible for my actions and it consequences. However there are some insurances I need to have by the law of Czech Republic (most likely similar in entire EU and western countries)
1. Health insurance
If you are employed or self-employed it is automatically taken of your salary and paid for you. However if you want to live in Czech Republic, be slacker and do nothing then the only thing you need to pay is health insurance. It is about 40$ per month.
2. Travel insurance
When you hit a road and leave your homeland behind your health insurance will not help you anymore. Then you want to get covered your ass by getting travel policy and to some extent cover all the expenses you may have if you go to hospital abroad. Moreover you can insure other issues related to travelling like lost baggage or missed flight. If you get a travel policy for period of 6 months and more and show it to your health insurance company back home you will be liberated of paying a fee of 40$ per month. If you go in that period back home and you need to seek a medic you will have to cover all expenses from you pocket.
First year I got my travel policy online for 12 months which is the maximum you can have. I opted for minimum stuff and paid about 200$. When it expired I got new one for another 12 months. This time I did it remotely through insurance agent that is my friend and paid even less about 100$. Wow life is great.
3. Social insurance
If you are employed or self-employed social insurance is automatically taken of your salary and paid for you. Paying social insurance in Czech Republic is voluntary. If you pay it for tens of years you will get pensions from government once you are retired. If you do not mind to live under the bridge one day you do not have to worry about it. To be honest I do not think I would get any money at the time when I am eligible to it.
I think the best social insurance is creating own business that generates money even when you are retired. I also believe that when you retire you should not stop working just because you get salary from government. I deem that human being should live, move, work, create and learn entire life. As a matter of fact in my world there is no phenomena such as retirement.