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Non-Tech : Any info about Iomega (IOM)?
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To: slipnsip who wrote (47381)2/9/1998 10:08:00 PM
From: Michael Coley  Read Replies (1) of 58324
 
RE: Purpose of Insurance.

>> I disagree that most truly conservative people would not insure. I do agree however that if you have the funds to self insure, you usually will come out ahead. <<

I didn't mean to imply that the total lack of insurance was good. That would be quite foolish. The conservative path would be to insure for the portion that you're not willing or able to take care of yourself.

It's hard to explain it in business figures, but with a car insurance policy, for instance, it's much better to pay $500 per year for a $1000 deductible than to pay $800 per year for a $500 deductible or $1000 per year for a $250 deductible (all assuming that you can afford $1000 out of pocket--and if you can't you're doing something wrong).

When you're paying for low deductibles, you're paying as much as you would have if you funded it yourself (on the average), plus a hefty premium.

- Michael Coley
- wwol.com
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