Over at Bargaineering today: Consider Self Insurance Against Calamities

My feelings about most insurance are thus: Quite often, we allow fear to make poor financial decisions for us. We’re afraid of an accident or the worst case, so we let the agent sell us the most coverage with the lowest deductable.

My question is, would you pay somebody $125 a month for them to pay your $100 utility bill for you? With most insurances, this is what you end up doing. You end up paying much more to the insurance company than you ever get back in payouts.