I think insurance needs to be adjusted to make it more effective but it sure hasn't outlived it's purpose.
For example I'd like to see insurance removed from all weaponized vehicles while the cost to replace a vehicle increased to 25% of the purchase price (ex mods) with no cap - charged to whoever did the destroying.
25% may sound harsh but it's a necessary increase to deter harassment. Players may become more hesitant to murder each other 'just because they can' if they will get hit with a 6 or 7 figure insurance charge. I can see this benefiting both the playerbase and Rockstar.
ok so that's pretty much 500k
so basically you better start some headhunter
how to troll people: join mission, park car in enemies, die, watch them pay 500k. same with a lot of freemode sh*t.
don't give rockstar ideas
my solution v2:
remove all insurance including planes. remove mors mutual (pointless and irritating).
all destroyed vehicles are immediately returned to storage and you get a text off mors.
if a player destroys a regular non bulletproof rear car they pay 10k as standard and get bs points. that's it.
destroy an armored vehicle and you aren't penalised.
if you destroy your own car in any way, or aircraft you pay 10k