Some people consider self-insuring as a way to avoid paying insurance premiums. Generally, though, self-insurance is best for people with a significant amount of assets at their disposal. If you are considering self-insurance because your budget is already tight, there are often other ways to save money. For example, you could get quotes from multiple insurers and switch companies if you find a policy that costs less. You could also consider raising your deductibles, which would reduce your premium without sacrificing your coverage types.