Generally, people buy insurance on things like their cars (except in the two states that don’t require it), their homes, and their health. But sometimes, you can skip the insurance companies and become your own insurer by becoming a self-insured person.

You might self-insure in some areas, such as dropping collision auto insurance and instead saving up to pay for your own repairs if you have an at-fault accident. But you’ll also want to be sure that you can cover your financial responsibility, which is what the state’s minimum car insurance requirements call for. That usually means either opening an account to put money in and proving that you can afford to pay out the required amounts, buying a bond, or getting a certificate of self-insurance.

In the same way, if you are considering dropping your health insurance to save on premiums, be sure that you can afford to pay for any treatment that you might need. If you don’t, you could face big medical bills or even bankruptcy if you need to seek treatment for an illness that’s covered by your health insurance.

For the same reasons, you should never consider skipping out on worker’s compensation coverage. It’s a legal requirement in most states and provides you with important protection against catastrophic losses that are difficult to finance. Минимални осигуровки самоосигуряващо се лице

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