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If you are rich, you can self insure for everything. Home insurance costs us 4k a year on average, for 25 years now. They insure up to about 300k. No claims. Do that math. If I had a half million to escrow, no way would I be paying that. I would just hold onto enough to rebuild and let it make money.
Health insurance like I carry should also cost a lot less than it does, but I guess it's the same kind I would have if rich, high deductible but insured against very high cost events.
When I was poor, though, no health insurance and overall we paid less every year, than I pay for insurance now. Yes even the years I gave birth and even the years there was an emergency room visit, not carrying insurance was cheaper than having and using it. But the problem with that here is that unlike home insurance, the possible cost of care is essentially unlimited without any insurance. You could get some disease and end up with tens of millions of dollars of bills. It ought not be like that but it is.