should we as Muslims still keep minimum insurance, i.e. third party car insurance

I live in the US State of Michigan. In this state car insurance is a little different from other states. If someone hits your car then no matter who is at fault each person must get money from his own insurance company. For example if I have minimum insurance and someone hits my car then even though it is his fault my insurance will not pay me anything(apart from medical costs if required) because I have the minimum insurance ie third party. In this kind of situation should we as Muslims still keep minimum insurance.