When I was in college, I bought myself a brand new Ford Mustang. It had always been my favorite car and after the end of an exceptionally difficult semester, I decided to treat myself. I was not prepared for how expensive the insurance would be for the sports car, so I took the bare minimum to cut costs. What I wish I had done is taken out some personal liability insurance in addition to the car policy.
After having the car only a few months, I was hit by another driver at an intersection. Despite the fact that I was not going very fast, I ended up injured pretty badly. I even had to spend a few days in the hospital. As unpleasant as it was to see my new car totaled, getting the hospital bill was even worse. And when I learned by the liability coverage from my vehicle policy only covered a fraction of that amount, I almost passed out. This meant that I was liable for the remaining balance, which was well over $20,000. It took me years to pay down that hospital bill. The most frustrating thing about it is that an extra policy would have saved me all of that money.