Wait a minute. Liability insurance is not for you, it's for all the other road users. The rest of the world won't put up with you being uncollectible when you cause damage with your vehicle, yet meanwhile reaping all the benefits.

When you buy comprehensive insurance (or any other-than-liability) it is for your benefit, and sometimes also for your lender's.

The grandparent's analogy is perfectly apt. There are two reasons to get liability insurance for your car: To protect yourself and to protect society.

Suppose liability insurance was entirely voluntary and not required by law. Would you get it? I'll bet you that most people with good income or significant assets would still buy it, just like people buy home or fire insurance even when not mandatory.