What do you all feel about Insurance?

[efields]

We live on the Waters Edge and so had Flood and Home insurance. We inherited the property from my folks, they had a mortgage that required insurance.

Our company dropped us and 'all our area' as we are due for the next hundred year storm, this after insuring us for 30 years. Our home is now paid for and we have decided to drop the 'concept' of Insurance. It looks to save us about 5K per yr.

My dad used to sell insurance, but I always felt it was a rip-off, and created a self fulfilling prophecy situation. I'm actually glad we decided to not 'play that game' anymore. I was laid off due to slow work and we could not afford it any longer anyway, but could have borrowed from family to keep it going. I'm feeling like with the world situation now it seems laughable to undertake it anyhow as your just throwing out money. They could not fix anything anyway, as to whats coming.

What do you all think and what are you all doing in this regard?

Blessings

g&m