Some kinds of insurance by accepting situations with lower coverage options and taking on the risk yourself.
You might, for instance, be able to:
warranties on your home or appliances if you can pay for repairs on your own without insurance.
If you have a car that has little value, you don’t need full coverage and should just get liability and comprehensive coverage with no collision coverage.
When the car’s value is low enough that you can make repairs or buy a new one without relying on an insurance company, you can do this.
Choose not to insure items like jewelry and valuables that are limited in coverage on home insurance policies with floaters and endorsements.
To pay for your own replacement of these items, you can use your self-insurance fund.
