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What would I miss out on by self insuring my car?
You lose your agent services. When my wife wrecked our car 3 years ago our agent took care of everything.  He got us a rental car, made the arrangements to get it fixed, checked in to see how we were doing, and even helped us set up a second opinion on my wifes wrist surgery.  The accident was ruled the fault of the uninsured driver who decided to take off through the red light.  But our insurance was the one that covered it all total expenses over 80k.  We would have had to eat most of those with out full coverage.   Most everything was set up (our rental car, estimates on repair, even her inital consutation with the surgeon) before the investigator had filed her report. Our agents first question was is everyone ok. His second was what can i do to help? He never asked us what happened and was always ahead of our needs in dealing with it.   If these things are not important to you, you can probably save quite a bit of money self insuring.  But if you are in an accident and unable to do them yourself, do you have someone to do it for you?  Do you trust them to handle your business and are you willing to saddle them with the responsibility of dealing with it?  To me insurance is less about me and more about my family.  It was nice that my agent did all of that for me.  I would have been willing to do it myself though.  But I am glad to know he is there for my wife if something happens to me.