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Nornagest comments on Money threshold Trigger Action Patterns - Less Wrong Discussion

17 Post author: Neotenic 20 February 2015 04:56AM

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Comment author: is4junk 20 February 2015 10:58:33PM 8 points [-]

Other trigger points should be when to self-insure. The usual guidance is when you could easily pay the replacement costs. Insurance is always a low odds bet. The only economic reason for it is when losing the bet would devastate you financially.

  • electronics insurance (self insure only)
  • cryonics insurance (self insure only)
  • travel insurance (self insure only)
  • renters insurance (self-insure as soon as you have enough savings to easily cover your essentials)
  • car insurance (I don't think you can legally self insure all of it)
  • house insurance (self insure if rich and no mortgage)
  • health insurance (self insure if super rich)
Comment author: Nornagest 23 February 2015 06:33:12PM *  0 points [-]

At least in California, you're nominally allowed to self-insure your car, but it's rare and not an especially good deal: your options are traditional insurance, a large cash deposit (in the tens of kilobucks) with the DMV, or a self-insurance certificate that's usually only given out if you're managing a large fleet of vehicles. There's also the option of a surety bond underwritten by a non-insurance company; how good a deal that is depends on who you're negotiating with and I don't know what your options are.

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