You can always take any theoretically dangerous situation and imagine yourself facing your or your family's imminent death. At that theoretical moment obviously you would be prepared to pay any sum of money within your resources in order to be rescued.
You didn't insist on your child wearing a crash helmet when walking round Tescos. Now a stack of baked bean tins has fallen on her and killed her. Why oh why did you penny pinch and not spend Ł5 on a basic helmet? Surely a child's life is worth Ł5 or Ł50 or Ł500 or a million ?

That cannot possibly be a basis for rationally determining risk and how much it is reasonable to accept and at what price?

Nor for criticising the different decision of someone else, especially if they cannot afford the cost of the protection?