Absolutely. Sure, in a bull market you give up some upside but I doubt you're likely to really care. If I'm riding something all the way up and making profit, I'm happy. If I'm losing 20% or 40% of my money, I'm extremely unhappy. Human sensitivity to negative emotion makes the insurance worth it, imo.
And yes, averages are great for everyone but the outliers!
And yes, averages are great for everyone but the outliers!