I've thought about it and I don't see it as all that cheap given the
meager risks involved in my neighborhood and home. Therefore,
I consider this a good self insurance bet. Especially, if the engine
is not on site or of minimal market value.

Depends on the kit. I had a F1 rocket kit. Thats 35 k right there. I couldnt
afford to lose it in a fire. Also if your took a loan out to buy the kit, most
likly insurance is required.

I suppose u wouldnt get renters insurance casue thats 150 bucks for 30k in
contents lol. IMHO