A blunt case that most insurance is a bad deal for regular people, and that self-insuring is the smarter move.

• Insurers like UnitedHealthcare book billions in quarterly profit, which comes straight out of what customers pay in and don't get back.
• The common pattern: pay premiums for years, then get told the damage isn't covered when you finally file a claim.
• Ten years of home insurance can cost far more than the repair it was supposed to pay for, such as a new roof.
• The alternative is to bank the money yourself and cover repairs out of savings, or do the work yourself.
• The catch is that most homeowners have no choice, since lenders force you to carry insurance to get a mortgage.

Outlook: Expect more people to question the value of coverage as premiums keep climbing, but the mortgage requirement will keep most of them paying anyway.