On Thursday, November 23, 2017 at 9:46:19 AM UTC-8, LAX wrote:
Is everyone insured by Costello Insurance?
I am purchasing a glider and it comes down to this, the annual premiums I was quoted are approximately equal to the cost of the glider divided by 16.. That is my annual payment. In other words, if I don’t have insurance, every 16 years I could buy a new glider with the money I don’t on insurance.

It is probably because you are buying an old, cheaper glider. Unfortunately, it cost just as much to repair an old glider (maybe even more) than a newer glider. Hence, the ratios will be different. Self insurance is an option (I would definitely recommend liability insurance regardless). What it gets down to can you write a check to replace your glider if it is totalled? And a cheap repair is at least $5k. If you do self insure, put what you would have paid in premiums into a separate investment account. If you don't know anything about investing just buy an S&P 500 index fund like SPY. This way you will build up the replacement cost much quicker than what you are thinking.

Tom