thats how insurance companys make money, they hope every one will hope for worst, they get your money and the share holders live it up.
we put in $1200 a year each member, if you sell you car and want out - you take your money, I had an R32 in the scheme, sold the car and put an extra $1800 in the wallet from saved insurance.
All involved where prepared to pay the first $1000 for damages (like excess). In my case the first year of contribution and excess could have bought me a half-cut with all cosmetics, and mechanical bits to sell to reduce total cost.
Fact is most accidents are less than $3000 of damage, if you claim in the first year on that you only draw $800 of the other guys funds. Like I said there is a lot of things we have considered and put in place. This isn't for every one..... What many don't factor in is the excess they have to pay on a claim with a company. if your policy cost you $1250 and your excess is $1500 then its gunna cost you $2700 to claim in the first year $3950 in the 2nd ect. ect. (then check their total pay-out figure its criminal one of the guys was offered $4000 for a 92 sss bluebird sr20t after $2500 excess)
Bag it / Pull it to bits / it aint for the faint!.....................carry on