> Almost everyone can afford to pay car insurance and are not worried about going broke and filing for bankruptcy if they have an accident or get a speeding tic

> Almost everyone can afford to pay car insurance and are not worried about going broke and filing for bankruptcy if they have an accident or get a speeding ticket. Wealthy people actually buy an umbrella policy or something else to protect their wealth. Crashing into a 2 million dollar car or causing the deaths of a few people is going to put 1+ million in damages back on you. If your net worth is 50k, maybe doesn't matter. If it is 5 million, it could be life changing.