Years ago I made the money saving choice to self insure.
It's one of the best decisions I've made. Here's a brief explanation of my personal insurance company.
Each month I make a "payment" into my dedicated smartphone account I've setup at my bank. Obviously each month the balance grows larger. If I don't have an accident, loss, or catastrophic event, that sum of money keeps getting larger. You'd be surprised how well this works.
In the event I do need it, there's no deductible, no hidden exclusions, plus I know the owner of the company
After I established this arrangement I went a full five years without needing it. Then one day I dropped and shattered my phone. Not only did I get a brand new phone for "free" there was money left over. Now that's hard to beat!