MossRoad
Super Moderator
- Joined
- Aug 31, 2001
- Messages
- 60,250
- Location
- South Bend, Indiana (near)
- Tractor
- Power Trac PT425 2001 Model Year
In my case, our house is market valued currently around $124K. The insurance company says it will cost well over $250K to replace it. Insurance is around $550 per year. I’d have to save $250K to self insure, while I’ve spent less that $15K on insurance over the last 25+ years in that home.In some of these instances...assuming no mortgages - would it not be better to look at self-insuring for structure rather than paying out crazy premiums for the just in case event? Liability insurance is totally separate and needs to be paid for.
Don’t know about commercial structures, churches, private schools, etc. Would be interesting to see the numbers on those.