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[quote=Anonymous]If you diligently save, you eventually will get to a point where it makes financial sense to self-insure. Sure, losing one’s house would be catastrophic but there’s money in the bank to rebuild it. Remember, the land/lot is where all the value is. The chances of a 100% loss are also extremely small, especially if you take lots of precautions and don’t have fire hazards all over your house.  Same for storm-proofing windows, doors and the roof down south. My southwest FL family don’t carry home/fire/flood insurance as the premiums are exorbitant after the two most recent Gulf hurricanes.  They’ve instead used the insurance premiums they would have paid to instead turn their home into an almost hurricane-proof fortress.

As for being (overly) cautious…my mother, who had two siblings lose their homes to fire, keeps absolutely nothing plugged into an electrical outlet except when she’s using it. The only things plugged in 24/7 are the refrigerator and deep freezer. And this is crazy, but she also turns off the main breaker in the electrical panel box every time she leaves and no one else will be home.[/quote]

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