Insurance on paid off property

[Conrad Cortes]

To those that have chosen to pay off your properties, what kind of insurance have you chosen to maintain? Do you just keep liability? Just curious what others have chosen to do.

[Marcus Auerbach]

I am generally an insurance (and warranty) minimalist, but liability insurance for sure, but replacement value or at least purchase value with a high deductible is a good idea. If you need RE insurance it's usually a catastrophic type event and not just a plumbing leak. Unless you are big enough to be self insured, which also means to pool a sufficient amount of cash and reserves.