Self-Insurance vs. No Insurance (Being Uninsured) If you’re having trouble paying for insurance and are considering self-insuring, please exercise caution.
When we need insurance the most, we frequently try to cut costs as well.
When you have more money and are able to start taking the risk yourself, self-insurance is typically the better choice.
Being uninsured is simply choosing to self-insure when you are unable to cover losses.
The bottom line is that if you choose to self-insure, you must be willing to cover the entire loss or bear the burden of the loss on your own.
