Self Insurance

[Christopher Lombardi]

Does anyone know if any banks would allow an investor to self insure their properties?  I asked a few of my bankers as well as friends in insurance and no one seems to have an answer.  My issue is, with over 80 homes in my portfolio and an average insurance cost of $1,000 per unit,  I'm spending a ton on insurance each year and I never had to collect.  The only reason I have insurance is because the banks require it.  I would like to set up a separate asset account, that I would pay into annually, that would fund any damages to my property.   Has anyone ever heard of someone doing this with the bank's approval?