What does $50K buy you if you break your wrist and it doesn't heal right?I haven't seen an available insurance product. I think you are correct, if left to private sector to provide insurance, they may as well not exist as insurance will make them non-viable. If government provided a plate plus 50k in liability insurance for ~$100 a year, they remain viable. That also cleans up what is probably rampant theft as more and more police are running alpr.
The loss of dexterity could cost a lot more than $50K, particularly if it's your dominant hand. Job skills and productivity set you back. Playing some sports or music are affected. Sometimes there is chronic pain.