As others have said, insurance covers far more than incapability accidents. However, the most important is that it gives you peace of mind -- you're essentially buying peace of mind, for a theoretically small fee (compared to average cost). It's somewhat rare to buy genuine peace of mind (instead of just inconvenience, that is more available).

Tangentially related, I also recommend a good offsite backup scheme (costs a little, but well worth it) versus "taking care of your devices/drives".