Since you have 3rd party, wait until some old datsun piece of shit runs into you and they dont have ANY insurance.

Don't think it does not happen. It happened to my mate in his car. He didnt have insurance because he had the same opinion as you. Problem is until you get ploughed into by some dickhead.

In saying all of that I can see why you dont want to pay for Comp.. $3K is daylight robbery!