The insurance industry is one of the most highly regulated businesses in the US. There exists layers upon layers of protection for the customers. One issue is that when people file a claim, and the insurance company tries to short change them, most folks don't have the knowledge or the gumption to exert their rights and get a fair settlement. Why aren't the the attorneys all over property claims with TV ads and billboards, harvesting victims like they do with liability claims and class action suits? Because there is no jackpot for them. Property claims have very low payouts compared to tort claims.

Thinking of self insuring? What about liability coverage? Can you get it without property coverage? I can't. And liability is by far your biggest risk. Your risk is unlimited.

If someone came to me and said, Joel, if I give you $5000 a year will you pay any and all liability claims against me, including attorney's fees to defend against false claims, pay for any damage to my home including fire, tornado, wind, hail, sewer backup, or a tree falling on it, and pay for any damage to my cars - anything from a chipped windshield to a total, and pay for any damage I do to others vehicles or property, and pay my medical bills and those of anyone I injure, and the death benefits and liability of anyone I kill, I'd say you are out of your fricken' mind!