The guys who owns a huge Porsche stable close to my home ( 918, Carrera GT, 2 x 911 R , 993 Turbo S , Sports classic, GT2 RS , etc..... ) does not insure any of his cars . I had once a discussion with him about it and he feels the insurances are just a big rip off and with the money he saved over the years by not insuring them, he has enough to pay damages that could happen . He only does the minimum that is obligatory to drive on the road, which in Switzerland is insurance covering the damage on other cars , if you have an accident . It is usually a very low amount .
He is very wealthy so that is helping , but I am also pretty sure that with his stable it makes sense .
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964 Carrera 4 -- 997.2 C2S , -20mm -- 991 GT3 RS