I am not taking insurance because i need it i take it because its mandatory, if i can say so. Your insurance has two parts own damage and third party damage and this is mandatory. One can very well take Third party damage only and choose not to opt for own damage, as i have done it for my RE. In case of cars the damage if any due to accident can be too high so you pay a premium to a insurance provider so that he will pay for you. Have you ever thought what happens to your premium when you are not claiming in a particular year? Actually a part of your premium is used to pay for someone else's claim and similarly for you also when you make a claim. So you must have learnt a lesson from this incident to park you car in garage.