Financial Independence gives you the choice to direct your time and energy into the things that you truly value, rather than the things that don’t (like working that 9 to 5 grind…). It’s about working out what you value the most, and empowering you to have the freedom of choice. This uses the core principles of mindfulness and minimalism.
realistically you should only insure against things which are going to destroy you financially, like your house burning down. Driving your car into the back of a $300,000 Ferrari is going to be a bad day; but with appropriate third party property insurance it’s not going to ruin your life.