Forum Discussion
Edd505
Mar 31, 2022Explorer
RetiredRealtorRick wrote:SDcampowneroperator wrote:
Wharever the premium is, put it in the bank. Insure yourselves.
Great advice......IF you know exactly where, when, and how much a repair (or repairs) is going to set you back.
Self insuring is great if you're Amazon, but for the common man of average means it's a foolish idea. If it worked so well, everyone would self insure for car insurance, homeowners insurance, medical insurance, and long term disability insurance. Yes, I am well aware that some are required by law, but only bare minimum coverages . . . how many people actually carry those minimum coverages and 'self insure' the excess? VERY few. It's a concept that just doesn't work very well.
Your talking high dollar items not a 1200 A/C unit. I bought a brand new Splendide washer/dryer just under $1000 and did my install. Now I need to spend how much to insure that $1000? Not worth it. I own my home, two trucks and rentals, do I self in sue them, hell no, I pay State Farm. How many calls have you had, your warranty on your vehicle is about to expire ................
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