[pja]

Yes, on the other hand if you own a $5k car then the insurer’s liability is much smaller & there are plenty of older cars on the road driven by older, safer drivers that fit into that category.

This was regarded as a weird corner case even then & was mostly just used as an example of why you should try tweaking various features of the insurance you were after, because the price could sometimes change in ways that might seem counter-intuitive.