ALL insurance is 'too good to be true'....think about it, you pay $500-$1k per year for your car cover, and over 10 years you dont make any claims, so you've paid $5k to $10k for what exactly? then when you have an accident they want you to pay an extra $500-$1k excess (depending what amount you elected)....
The excess SHOULD be coming out of the $10k they've got from you....It should be like a banking system where money is held in an ongoing account until needed.
I tell ya, insurance is the biggest scam out there (2nd only to religion).....
Maybe just dont get insurance and keep $2k to $5k locked in a bank account instead, at least you can cover damages/repairs when needed.
Stoopid damn unregulated government systems 
What if you write your car off, $2-$5k isn't gonna buy much of a replacement car? Similarly what if you hit another car and it's your fault, that Merc or Porsche isn't going to be cheap for you to repair or replace?
