The whole concept of insurance revolves around protecting the assets of an individual from financial loss due to an unpredictable event. The reason that we purchase insurance is to protect ourselves from financial disasters. We rely upon the insurance company to take on the risk in exchange for the premiums that we pay. The average consumer spends very little time thinking about insurance purchases. The insurance professional is expected to do most of the thinking for us and advise us on what is best.

There is a simple principle that can be applied to almost all of your property and casualty insurance purchases that will save you premium dollars. Self insuring is that principle. The smart insurance shopper eventually grasps the concept of self insurance. The whole idea around self insurance is using deductible options and eliminating unnecessary coverage. The days of the $100 Collision deductible on auto insurance is fading fast and it should. The higher deductible saves you in premium dollars. That is what we call self insuring. When you change your deductible from $100 to $500 you are taking on the risk for the first $500 of physical damage. You can do the same on the homeowner