Ian K said..
Insurance is just a probability game and the insurance companies know how to win. They make a fortune based on the accident rate of the average driver. If you have the co-ordination, reflexes and awareness to pilot a windsurfer or kitesurfer, and apply them to driving a car, you can swing the odds of not having an accident even further in your favour.
I learnt all about probability in year 12. I've never comprehensively insured a car in over 40 years driving. If I write one off now I can buy another and still be ahead of the game.
(third party property is worth getting, you might run into something really expensive that might break the bank)
I have found that for older cars, comprehensive is only a little bit more than 3rd party, so in my case, it makes sense to spend an extra hundred or so and get that extra level of protection... such as it is when the car is only worth 3 grand and any small damage is probably enough to write it off.
One thing that changes your view a lot I think is if you commute to work in Sydney. The drivers are so bad sometimes that its hard to believe. Comprehensive will help a bit if some idiot runs into you and you don't have the hassle of chasing someone up for them to pay you.
