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> apart from completely dropping it. This is what I have done. Cash and semi-liquid investment vehicles are king if you have enough to cover the worst case. I

> apart from completely dropping it. This is what I have done. Cash and semi-liquid investment vehicles are king if you have enough to cover the worst case. I get called a "crazy person" whenever lack of coverage comes up at friend & family gatherings, but I honestly don't feel any anxiety over it. Worst case scenario, my home burns down or experiences some other total loss and I have to pay 100% out of pocket to put a roof back over my head. Yeah this sounds kinda bad, but there are a lot of statistics in my favor here. I WFH full-time, so the probability of me not being at home when something "weird" happens is diminishingly small. Additionally, I can't recall the last time I saw a fire truck heading to an actual structure fire in my community. These newer homes are kinda safe by default. Water/wind damage is a concern, but I've been through enough hurricanes to know that TWIA coverage is the biggest scam ever perpetuated on homeowners in the gulf coast region.

JumpCrisscross 3y ago
> Worst case scenario, my home burns down or experiences some other total loss and I have to pay 100% out of pocket to put a roof back over my head Worst case is your house fire burns down the neighbourhood. This is why while self-insuring your own property is fine, liability is something even billionaires insure.
- bob1029 3y ago
  Worrying about being sued because of a structure fire spreading in a modern suburban development is pretty out there, IMO. If we really want to get into worst case, there are all manner of things that no sane person would ever insure against. What kind of coverage does the typical home owner have along axis of "my house fire also was the eventual reason that 20 other homes burned down"?
  - xur17 3y ago
    Not typical, but umbrella insurance is the path to covering something like this. That said, I do agree with you with regards to insurance. Health, car, house, etc insurance all seem to be closer to payment plans rather than actual insurance for catastrophic events. If there were viable options that had 10k or even 50k deductibles that noticeably lowered premiums, I would sign up.
  - devoutsalsa 3y ago
    Liability insurance is really valuable. You’ll lose your home to a semi-clever person who finds a reason to sue you. I used to sell insurance. My district manager told a story about how the insurance company had to pay because a homeowner’s dog barked at a guy off the property, the guy tripped & got injured, sued the homeowner for a nontrivial amount, and won. You can self insure if you want to, but don’t be surprised when shit happens and you wonder why your having to liquidate your assets.
- tedunangst 3y ago
  Does your home insurance include enough liability coverage for a whole neighborhood?
  - JumpCrisscross 3y ago
    > Does your home insurance include enough liability coverage for a whole neighborhood? No, but it has enough that I can outsource the litigation to an insurance company. I personally know one case, granted in apartments, where the lack of renter’s insurance permanently financially disabled, and one where it caused years of grief.
    - tedunangst 3y ago
      Heh, the real reason to have insurance.
hotpotamus 3y ago
This is what I've done for the past decade. I was talking to a friend about it and he said, "so basically your plan is... fuck it... let it burn?". Which sounds about right.

JumpCrisscross 3y ago

> Worst case scenario, my home burns down or experiences some other total loss and I have to pay 100% out of pocket to put a roof back over my head Worst case is your house fire burns down the neighbourhood. This is why while self-insuring your own property is fine, liability is something even billionaires insure.

bob1029 3y ago
Worrying about being sued because of a structure fire spreading in a modern suburban development is pretty out there, IMO. If we really want to get into worst case, there are all manner of things that no sane person would ever insure against. What kind of coverage does the typical home owner have along axis of "my house fire also was the eventual reason that 20 other homes burned down"?
- xur17 3y ago
  Not typical, but umbrella insurance is the path to covering something like this. That said, I do agree with you with regards to insurance. Health, car, house, etc insurance all seem to be closer to payment plans rather than actual insurance for catastrophic events. If there were viable options that had 10k or even 50k deductibles that noticeably lowered premiums, I would sign up.
- devoutsalsa 3y ago
  Liability insurance is really valuable. You’ll lose your home to a semi-clever person who finds a reason to sue you. I used to sell insurance. My district manager told a story about how the insurance company had to pay because a homeowner’s dog barked at a guy off the property, the guy tripped & got injured, sued the homeowner for a nontrivial amount, and won. You can self insure if you want to, but don’t be surprised when shit happens and you wonder why your having to liquidate your assets.
tedunangst 3y ago
Does your home insurance include enough liability coverage for a whole neighborhood?
- JumpCrisscross 3y ago
  > Does your home insurance include enough liability coverage for a whole neighborhood? No, but it has enough that I can outsource the litigation to an insurance company. I personally know one case, granted in apartments, where the lack of renter’s insurance permanently financially disabled, and one where it caused years of grief.
  - tedunangst 3y ago
    Heh, the real reason to have insurance.

hotpotamus 3y ago

This is what I've done for the past decade. I was talking to a friend about it and he said, "so basically your plan is... fuck it... let it burn?". Which sounds about right.