New take on self insurance

[MarkH]

Statistically highly improbable. I see Skodas on a daily basis. Ferraris... rare as rocking horse shit.

Around Auckland I regularly see expensive vehicles - sometimes Ferrari, Porsche & Lamborghini, often more common but still expensive BMW, Mercedes, Audi, Jaguar, etc. Even just running up the back of a 10 year old BMW could have you on the line for quite a few thousand dollars.

Another thing to consider is the possibility of having an accident that is someone elses fault, but having huge hassles getting money out of them. With full insurance you get paid out quickly and your insurance company can have the hassle of getting money out of the 'at fault' party.

[Icemaestro]

It was cheaper for me (as a 22yr old guy with clean history) to insure my 4k cbr250rr with comprehensive insurance than 3rd party. Try and figure that one out!