With insurance rates rising, I know more and more people who are choosing to insure themselves. Rather than paying premiums to an insurance company, they choose to instead save those premiums and other funds in order to cover any damage to their cars or property or, in some cases, to pay for health care. I saw an interview with a man who lived in a flood prone area of the Mississippi River. His riverfront house had just washed away for the third time and the reporter asked him if he had insurance to cover the loss.
“Heck no,” he said. “After the first flood they refused to cover us.”
“But isn’t that expensive?” the reporter asked.
“Sure. But we...