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In some states you can self-insure your car if you have the cash.
by fr0sty 14y ago
In some states you can self-insure your car if you have the cash.
- dougk16 14y agoAwesome...didn't know that! Self-insurance seems like a reasonable compromise to what I'm talking about.
- fr0sty 14y agoIt's a great option so long as you are comfortable having ca. $50,000 of your own money on the line every time you get behind the wheel. I'm in no way willing to make that wager though...
- dougk16 14y agoWith the current system, you're not even wagering that $50,000...you're throwing it out the window. Unless you believe you'll cause >= $50,000 of car-related damage over your lifetime.
- IceyEC 14y agoAlso, and this is the bigger piece of having auto insurance vs being self-insured, if you hit somebody else and kill them, you may be in for a wrongful death suit and personally liable for all of those expenses, or even medical bills if the person survives it. Those bills can easily jump into the hundreds of thousands of dollars.