4 ms·
Yeah I've got enough money, and I don't buy brand new vehicles (expensive depreciating assets) so I don't bother with collision or comprehensive and I "self-ins
by lamontcg 5y ago
Yeah I've got enough money, and I don't buy brand new vehicles (expensive depreciating assets) so I don't bother with collision or comprehensive and I "self-insure".
I also have never been in an accident which has written off my vehicle -- staying situationally aware and driving defensively helps a lot.
So what I do is max out my liability and uninsured motorists insurance up to something like $250,000.
I never get insurance for things like phones.
A lot of insurance is tax on poor people and the mathematically illiterate.
- thehappypm 5y agoThis is interesting, how much do you save? I imagine that liability insurance has to be the lion's share of a more vanilla policy, no?
- lamontcg 5y agoNo, the biggest part is collision and comprehensive. Liability is comparatively small. You save tons by self-insuring. Since my used truck was only worth $10k to start with I've saved much more than that in the decade that I haven't bothered carrying collision or comprehensive (probably 3 or 4 times over that). But I don't bother fixing dents and dings in it, so it looks like a used truck and I won't be turning any heads cruising down by the beach.