looks like you'll have to get a cheaper, older model $20,000 car and keep $20,000 - for your own insurance fund: It even covers buying another one if you smash it so bad you write it off, ie. more than $10,000 damage.
If you do smash this bad then sell the car parts.
Average damage from a moderate (fairly substantial front end collision accident according to NRMA research is $3500 to $4500
So this is what you are likely to pay.
Insurance is overpriced!
just pay $211 bucks for third party property damage insurance, so you don't have to pay for the ferrari you smashed into.
try to drive safe.
If you saved paying insurance of $3000 a year up for 7 years without an at fault accident you will have saved $21,000 enough to buy another car!
... you get the idea.