re: And it's only getting worse, multiple carriers left La on 1-1-2024

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Self-insure seems like a good answer for those able to save up the replacement value of their home and put it into some kind of low-risk fund that can at least keep up with normal inflation.

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That’s the challenge, many of these people are on fixed incomes or retired. The house they spent $125,000 on a little more than 10 years ago is now worth $500,000.

The $3-4,000 per year they are socking away won’t do much of anything other than a roof replacement. They dont have a spare half million hanging around. Plus the property taxes have greater than doubled too.

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Self-insure seems like a good answer for those able to save up the replacement value of their home and put it into some kind of low-risk fund that can at least keep up with normal inflation.

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The problem with that line of thought is that there's so few people who can actually save up enough money to afford a major loss without either wiping out their life's savings or having to pull money out of their retirement accounts. Its one thing to be well off and self insure your fishing/hunting camp, whole different ballgame talking about people's actual residence.