Do the ultra wealthy still carry things like car insurance or does there come a point where you can just be self insured?
A- Insurance is a state-by-state run industry and only 2 states do NOT REQUIRE auto insurance - I believe Tenn. and NH. All other states this is MANDATORY to have car insurance to protect the public from reckless, negligent drivers. So most High-Net-Worth people would carry very high liability limits and very high deductible but self-insure…NO!
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