[fintstone]

If I had no intention of replacing a home if destroyed, I would insure at the market if there were significant savings. Having not burned a house down in the past 60+ years, I would bet I do not in the next several.

Of course, I only insure my cars for liability and comprehensive (not collision or towing). I have managed not to have an accident that was my fault and have managed not to have a car break where I could not get it home for about 50 years, so I am betting on me again. If I drive my new car (or one of my old 911s) into a tree...it is on me.

I have done the same with life insurance (as I have been very healthy) and invested the money instead. It has grown to the point where I am effectively self-insured for more than I would have purchased.

Over the years, my philosophy has saved me an incredible amount of money. Others might not enjoy the same results.