Car insurance

I would like to request your opinions. While it is true that there are economies that do not make sense, such as not having health insurance, I’m wondering about living without auto and property insurance, in order to save money that can go to pay debt sooner. I know that states require a driver to carry insurance. However, I don’t have a car. I sold it 3 years ago and live in a city where I can move around with public transportation. For three years I have been paying the minimum for a non-car owning driver’s insurance. I question its usefulness. When I travel for work, work pays for full insurance coverage on a car rental. When I travel to another city where I might rent a car, I sometimes end up getting full coverage insurance. It is too complicated to figure out which damage to a rental car your credit card will pay for. This is a benefit offered by credit cards. Usually it is protection for the driver and maybe some medical costs. The car itself is not protected. So you buy insurance to protect the car. But the rental car companies make it very complex to understand which of three types of insurances to get and which one the credit card or your own insurance covers, so you end up getting everything.

Similarly with apartment insurance. I’m renting, not owning. My biggest concern has been for theft of the computer. I’m living in a new apartment building that has key access to every floor, so it’s improbable that there would be a break-in. In the many years of carrying apartment insurance, the one time I suffered theft, outside the apartment, it was of a new bicycle. The deductible was higher than the cost of the bike, so I did not need insurance. Of course I live in an earthquake zone, so I might be protecting my belongings against damage from earthquakes, fires and possible water damage to my belongings from the sprinklers in the buildings. From that standpoint, it might make sense to carry apartment insurance. Or I could just take the risk and save the money and apply it to drawing down debt.

When I brought up with the insurance company the idea of dropping the auto insurance, they warned me that once I would need insurance again, like if I moved to where I needed a car, the cost of insurance would be higher because I would appear as an uninsured motorist. So the underwriting process would tag me as a liability and charge me more. I feel it is unfair to be paying insurance that I don’t use, just to protect a future increased cost of insurance, particularly if I continue to live in the city. I have not obtained the numbers, and I’m not sure the insurance company would cooperate if I were to ask them for a comparison of the rates of insurance between an uninsured motorist to that of an insured motorist.

Any suggestions?