I’m in the USA, and I’m not really familiar with the term “static insurance”, but I can tell you how I figure mine out.
I carry just liability insurance that doesn’t cover my vehicle. If I had full coverage on my older vehicle, it would pay out less than the payments over the course of a year would cost me. So I just keep an emergency fund large enough to replace everything, and live on for at least a year. Then I only pay for the cheaper insurance.
The insurance wouldn’t pay me enough to replace everything anyway, so I’d rather save the money.
If it costs $10 a month extra, it might be worth it. Insurance values my van at $1,000, but they want $100 a month extra for full coverage. That would cost me more per year than what they’d pay me. Putting it into a bank account makes better sense in my case.