re: Does insurance violate the basic laws of economics?

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n reality, your health insurance, your car insurance, all insurance should be priced at the individual risk leve

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Well, by definition:
Insurance involves pooling funds from many insured entities (known as exposures) to pay for the losses that only some insureds may incur.

The company pools clients’ risks to make payments more affordable for the insured.

Sorry, you can't insure at your own risk. But, you could self-insure yourself for your individual risk and predilections.