I've been thinking about this for a while and would like to hear some thoughtful ideas on this topic. I've always believed that the best insurance is self-insurance, except where required by law. I can get $300K coverage for $250 a year and $1M coverage for $329 a year. I know that is very cheap compared to a lot of you guys. My location is more or less in hill-billy-land so things are cheap here. That said, ten years of $1mil coverage would be $3,290 with no premium increases. It just makes me wonder if the average insurance claim would be more than that and if I'd need to file a claim more than once every ten years. Here is some food for thought or questions I have for the board: 1)When has insurance ever really SAVED someone's butt? I'd like to hear a real life story on that one. 2)What is the average number of insurance claims filed for the typical LCO? 3)If I am an LLC or a corporate LCO, how much could I really be sued for? 4)And if I was sued for more than the value of the company, couldn't I just file bankruptcy and turn around and start another LLC and continue with business as usual? 5)How can I limit the value of my company and thus reduce my exposure? 6)Couldn't I have an LLC or Corporation separate from my LCO that holds my assets? How about ACME Rentals for my equipment. 7)My LCO would simply rent all its equipment from ACME. Then my LCO would not own any equipment and the equipment could not be included in a lawsuit. I know this is me trying to be very cutesy, but it is a legitimate cutesy thought. Any ideas on this? Thanks in advance!