self-insure

American  

[self-in-shoor, self-] / ˈsɛlf ɪnˈʃʊər, ˌsɛlf- /

verb (used with object)

self-insured, self-insuring

1. to subject (one's property or interests) to self-insurance.

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verb (used without object)

self-insured, self-insuring

1. to insure with self-insurance.

Etymology

Origin of self-insure

First recorded in 1930–35

Example Sentences

Homeowners usually choose to “self-insure” — not exactly the most encouraging of terms — when they own their home outright and would not rebuild, as in this case, when insurance costs feel high compared with the potential benefit, as you feel, and when they are financially able to handle a loss without serious hardship.

From MarketWatch

This isn’t crazy money for them, even if they self-insure the cost of someone winning.

From MarketWatch

Cava will renew its health coverage in August, and executives are considering whether to self-insure, she said.

From The Wall Street Journal

Companies choose to self-insure because it gives them more control over benefits and can lower costs.

From The Wall Street Journal

Or it may be better to self-insure and plan to use savings for long-term care needs if insurance is too expensive.

From Seattle Times