Quote:
Originally Posted by GH85Carrera
Anyone that has no insurance is already self insured. That is why they drive a POS car that they can just walk away from it and no major loss.
According to Hagerty, my toy car is getting crazy expensive. I have agreed value insurance on it to cover a loss as I can't afford to just write off that much money if it was stolen or totaled. Self insured is not practical for me.
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As far I know - every state has laws that require vehicle owners to carry some form of insurance....so self-insuring vehicles is NOT an option.
Real estate is a whole different matter. As long as you don't have a mortgage, I believe you can self-insure. Otherwise you are required to carry homeowner's insurance.