Hi, J.!
My daughter (at 2) said "mama", "dada", and "bup" (up). Had her evaluated by a speech pathologist who said that everything else was right on, or ahead of, schedule, and that her comprehension was that of a four year old. She had mild apraxia (don't know it that is spelled right!)
So, against the advice of my parents/husband/friends who said she'd talk in her own time, let her be.........I took her to speech therapy. The floodgate opened and within six months she was speaking almost as well as a five year old. It was incredible. Now we can't get her to stop. (Seriously, she starts the moment she wakes up and is still talking as I walk out of her room at night.) Everyone says it would have happened without the therapy, and maybe they're right. I often wonder. But we'll never know. :)
So, you may want to wait just two more months, and see if it happens, or get her started now. One thing that might help your determination is - does your daughter make herself understood without speaking? My daughter used sign language to communicate, so we always knew what she wanted, and she didn't get frustrated.
Also, if your insurance won't cover speech therapy, you might want to check with the universities around you. I took my daughter to the graduate program at KSU, where they would work with her for 45 minutes/$45.00. Maybe a school around you does the same.
One last funny thing -- when she was three, she told me, "Mama, I'm glad I'm three. It was HORRIBLE when I was a baby." And I'm thinking, horrible? I carried you around in a sling and catered to your every need! How horrible could it have been?? So I asked her why it was so horrible when she was a baby, and she said, "Because, Mama, when I was a baby I couldn't talk! And, oh, Mama! I LOVE to talk!"
Best of luck! J.