Not sure I follow your logic. Shirley it's not your own circumstances but those of the people you are contemplating slaughtering that determine the amount of cover you require?
At the end of the day Insurance is a gamble. You insure against those things that would be a disaster for you to a level that you are comfortable with considering your own opinion on the likelihood of disaster striking.
I know people who are so risk averse (or gullible) that they insure thir iPhones, iPads, Dishwashers and Boilers. It's a bet where the dice are heavily loaded in favour of the insurers. Sure you may get unlucky and be glad of the cover but at the end of the day none of them would wipe me out so I'm happy to carry the risk myself.