i actually self insure.. i only have 3rd party fire and theft.. just case i lose the whole car or hit a merc..
if you think about it.. if you have a minor to mild smash every 5 years it works out quite well..
$1200 per year with $500 excess..
1200x5 = $6000 + $500 excess..
So if you have 1 prang every 5 years that is less than $6500 you are way ahead.. considering most prangs are generally only $1000-$2000 at most.
and i havent had a bad hit in over a decade.. (knock on wood) would hate to think i had forked out over $10,000 for nothing..