I'm pretty sure that many of us are pre-programmed to make irrational decisions regarding health insurance. Specifically, healthy people tend to shy away from insurance plans with high deductibles and instead opt for higher monthly premiums. People often view this approach as "cautious." I view it as throwing money away.
For example, last week I received a love letter from my health insurance carrier informing me that my premium is rising by over 20% this year, despite the fact that I never even used my insurance last year. At all. (I guess all of that Ohio medical malpractice tort reform from a few years ago didn't really work in keeping our rates down. What a shock.)
In my particular case, the question comes down to whether I am willing to risk paying an extra $1500 if I get hurt in order to save about $750 in yearly premiums. Stated otherwise, am I willing to bet $750 that I won't need any major medical treatment this year. The answer: yes. I figure that I spend an obnoxious amount of time every year riding my bike and doing things that keep me healthy. I might as well enjoy a return on that investment.