Other than those insurances that are mandatory...

self insurance will always be cheaper in the long-run, but only on average - some people will be "winners" on a premium paid v benefit received, vast majority will not. It's whether you have the stomach (and means) for the worst case scenario should it happen.

I choose to extend my cars warranty (which is insurance really), as an example, it's not cheap at £400 and I'll probably never need it. But, just say the engine failed, that would be £12k - 15k to sort, even seemingly basic things like a new headlamp would be £1200. So I'd rather pay it knowing its likely a waste of money.

Everyone has a different approach to risk v cost

Posted By: SimonOTBC, Jun 11, 10:47:50