This means that yet again we can now avoid paying for things that we don't want and that nobody has a claim over us that we have to pay for these things. We just pay for what they can claim we should pay for because it effects them – e.g. third party.
If you drive on the roads you should be insured in case you damage someone's Jag or kill someone. But if you want extras like insure against theft, its up to you.