While what you're saying has a truthful ring to it, I fundamentally disagree with your hypothesis. The theory behind insurance is that everyone pays a flat rate so that there is enough money in the pool to cover statistically rare events. It works for fire, flood, life insurance, anything really. And the great thing about it is that the premiums are generally substantially lower than people expect. There's enough room there to charge enough for insurance companies to make a profit and still have affordable premiums.
This has gone haywire in recent decades due to corruption. In their never-ending quest for more profit, insurance company lobbyists have bribed politicians to change the laws so that they can create new brackets. Now car insurance costs more for young drivers. Now people in the south find they have no flood insurance or that their coverage wasn't good enough to replace their home or that there is so much red tape that they have to sue their own insurance company to get paid. Or the company simply doesn't pay, and the US government has to bail everyone out.
The fact that smoking is the single biggest discriminator in insurance premiums after age is a huge red flag that corruption is afoot. Here are a few things statistically more dangerous than smoking:
* Texting while driving
* Not eating right or exercising
* Working a blue collar job
Corruption just shifts costs onto the poor in the name of efficiency.