If you look at the specific wording of what everyone here keeps calling "insurance", what is being offered by Spring Mountain isn't insurance at all, whether at the minimum amount or higher.
At best - and the wording isn't even that great for us in this regard - it's actually just a waiver by them of your liability for crash damage to a certain higher or lower amount, in exchange for your waiving them for any liability for a heck of a lot more.
Sorry for the sobering news but I can't help myself for pointing that out given what I do for a living (take a guess).
For my part, I plan to go back for a second time in late March, having some fun, and all without running anything or anyone over.