Originally Posted by Sniper
Originally Posted by 360view
Consider going “self insured” where you put so many $ per month into a separate account.


lol it's $300k worth of tools. How much would he have to put away to even get close to replacing that?

$300k, probably way more thanks to inflation. If he put away $1k a month, it would take 25 years to get close.

Got any useful advice?


Partially agree. You're basing that off a case of total loss (unlikely), where as a theft is likely to only result in a partial loss (not -$300k). Hedging this bet is why insurance companies hire actuarial science statisticians to calculate probability. In reality, OP is much more likely to eventually end up with money in an account unused in twenty years vs ever needing it to cover anything, if you go strictly off data.

Last edited by A39Coronet; 09/29/23 06:52 AM.
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