this post was submitted on 10 Dec 2025
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There are legal requirements for how much money you have to have set aside to qualify as "self insured". Car insurance is not required for your own costs: that kind of "full coverage" is optional. "Liabilty insurance" to cover the damage you do to other people's property is legally required, and self-insuring is allowed, but the required liquidity to self-insure is more than most people have.