Anxiety, Cognitive Availability, and the Talisman Effect of Insurance.

Across four experiments ( = 1,923), this research provides converging evidence of a of insurance-consumers who have an insurance policy feel that the covered mishap is less likely to occur. Although such an effect has previously been proposed, empirical evidence for it is limited, in part because the talisman effect has often been conflated with a related but distinct magical-thinking phenomenon, the tempting-fate effect. By disentangling these two effects, we are better able to isolate the talisman effect and show that it is a robust phenomenon in its own right.