$1000 alarm? How many car alarms do you hear going off during the day, and not think twice about it.....
legal theft you reckon?
Its a calculated risk actually.....
Your driving your modified $40K R33 GTR down the road and pull out in front of a $100K 2006 Mercedes (or any car that matter) and cause tens of thousands of $$ damage to both cars. Instead of that $3K insurance premium you had to pay, you now sorting out a $50K loan to fix 2 cars......
And how about this......
Your driving your modified $40K R33 GTR down the road and someone pulls out in front of you. Totally devastated about being hit by a $500 Corolla owner with no insurance and no clue, how do you go about getting $20K off them to fix your GTR without using physical force? Well insurance companies will take legal action to get this money and have your vehicle fixed....
Insurance is NOT legal theft. People may suspect this, or come up with this notion, but until they make a claim and get paid out and are happy with the service, then I suppose they will never understand.
P.S, I feel this way as I have had a $15K R33 GTS-t written off by an old lady who fell asleep at the wheel, the car was insured and my $1600 premium turned out to be an excellent investment.....