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Wow, that driver really really used poor judgment. If you are going to drive like an ass, just do it on an empty road, or better yet on a track, so you only hurt yourself! I can guarantee this though, unless that guy was filthy rich, that guy won't be driving a performance car again for a long time...
Does anybody know if your insurance will still cover you if you were driving recklessly and insurance can prove it? I think it does, but if it doesn't that guy is royally screwed.
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