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Self-Insurance Guide
Save money by cutting out the middleman!

Save Money through Self-Insurance!

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Insurance, at its most basic, protects you from financial losses. You pay a little up front in the form of premiums to protect you from unexpected or catastrophic losses in the future.

By self-insuring, you essentially pay the premiums to yourself then pay claims out of your own pocket. By cutting out the middleman, you don’t pay for their offices, employees, advertisements and other overhead costs—not to mention their profits—and therefore... you save money!

Self-insurance is the default setting for everything you buy and use—even something as small as a pack of gum at the corner grocery store. Theoretically, you could buy a policy to protect you in the event the gum fell out of your pocket while walking home or someone swipes it off the desk in your office. Nobody would insure something as cheap as a pack of gum, of course. If the pack of gum is lost, damaged or stolen, you will bear the cost directly because you are self-insured.

Insurance companies don’t talk much about self-insurance, and why would they? They want you to buy insurance! They spend millions of dollars each year on advertising and lobbying to promote their own self-interest. Most people need some insurance—but you can save a good chunk of money by self-insuring as much as possible.

There are other advantages to self-insuring:

We’ll walk you through not just how to self-insure, but also when to do so—and how to get to the best deals.

Next: Managing Floats