Purchasing insurance on a damaged item will do no good. Soon it's just not going to start up. That's not a viable claim. It's not lost or stolen.I would look into some insurance. I personally have state farm. $75 a year here in FL and I'm covered for total loss or theft. That's about $25 less than a piece of colored neoprene.
Right now you have an operable aircraft. Do not lie about ANY question asked when you insure it.
I also wouldn't invest any money into this AC. The only real hope of saving it for reliability has long passed.
People also need to be reminded filing insurance claims have lasting consequences when trying to obtain insurance in the future, regardless of what kind. All of the companies out there use the same database to look for claim history. And any claim, regardless how small it seems, is a claim and will come back to haunt you in higher premiums.