Should I just self-insure and not purchase coverage?

Frequently Asked Question

Is putting $3,000 in an account and self-insuring a good investment? That is not really an investment, it’s a gamble. If your transmission goes out next month, there goes your $3,000 and you still have years of repairs to worry about.

There is no such thing as self-insuring, either you get coverage or you don’t. The basic concept of any type of insurance is someone else has to gamble and not you.