And if you see httpsterio's comment, that's 0,01% a day, 3,65% in a year, which is huge. Insurance must be crazy high to accept that level of risk on average.
0.01% per day is not 3.65% per year. It's close, but that's not the correct way to combine probabilities. (If it were, flipping a coin twice would be guaranteed to produce a head because 50% + 50% = 100%)
For calculating probabilities, it's much easier to work in fractions than percentages, so I'll convert 0.01% to 0.0001 and equivalent for other percentages for the remainder of this comment.
If every day of the year, 0.01% of cars are broken into, the probably of being broken into is 0.0001 and the probably of being safe is 0.9999. To calculate the odds for a year, you need to take the being safe probability to the 365th power (0.9999^365). That gives 0.9642. This is the probability of being safe from break-ins for a year. You can subtract from 1 for the annual odds of being broken into: 0.0358.
0.01% per day is 3.58% per year. Also can continue to get longer term odds. Break-in chance is 30% over 10 years. At 19 years, it's 50/50 whether you'll be broken into. At this term, you get a big deviation from the incorrect calculation, which would give 0.01 * 19 * 365 = 69.35% chance of break-in over 19 years.
Of course, this ignores the uneven distribution of break-ins, etc., etc.
As others pointed out, this is break-ins, not cars being stolen. Typical cost of a break-in is one window. I have no idea how much that costs, but let's say $1000, which is probably 10x too much. That comes out to $1000 x 0.0364 = $36/yr.
This mindset that crime shouldn't be punished is so strange to me. Why is it okay for someone to go around breaking windows and stealing stuff? Because when the people realize they're suckers for following the law, they'll stop following the law, then everyone will be doing it, and there won't be enough police in the world to pick up the pieces.
