My dream car insurance policy would be one that covers the bare minimum state required liability coverage - around $20k or whatever it is.
And then I add on a second policy that has a $5k or $10k deductible but covers me to $300k or $500k.
The likelihood of me being in any accident is very small. And within that subset, the likelihood it’s catastrophic is even lower.
So rather than spend $600 per year for $100k/$300k liability coverage that I am currently paying, I’d rather spend $300 a year on a $20k policy, and then maybe $50 more for a $5k deductible $300k policy.
I’ve never seen such a product offered. I assume it would need to be separate from the core liability insurance, since state minimums are likely such that you cannot have a deductible.
I’ve only ever seen this on umbrella insurance, where you already have a $300k policy and want to extend that to $1M. But my goal is to pay less for insurance, not more, and assume more of the risk myself - with a high deductible.