self-insurance

[ self-in-shoo r-uh ns, self- ]
/ ˈsɛlf ɪnˈʃʊər əns, ˌsɛlf- /

noun

insurance of one's property or interests against possible loss by the establishing of a special fund for the purpose instead of seeking coverage with an underwriter.

Origin of self-insurance

First recorded in 1895–1900

Words nearby self-insurance

self-induction, self-indulgent, self-inflicted, self-initiated, self-instructional, self-insurance, self-insure, self-insurer, self-interest, self-judgment, self-justification

British Dictionary definitions for self-insurance

self-insurance

noun

the practice of insuring oneself or one's property by accumulating a reserve out of one's income or funds rather than by purchase of an insurance policy