There are only 3 scenarios which I'd want a parachute:
1. I lose a wing (extremely rare)
2. The engine falls off the front of the airplane (extremely rare)
3. The engine fails leaving me to encounter conditions where the terrain is inhospitable for landing (still rare)
I've lost an engine in-light with a parachute on board and didn't use it because the plane just turned into a glider and we all walked away. The firewall was cracked at one of the engine mount points which had the engine remained running certainly would have vibrated off the airframe - but it stopped shortly after the issue started. So I can say with absolute confidence I am happy with my decision to NOT put a parachute in the airplane. The reasons I don't want one is because of the extra luggage space it consumes and the aft CG it adds. The extra expense certainly is a consideration, but that's even after my first two reasons.
I know some non-aviation folks (wives and maybe some husbands) who don't necessarily understand the over/under on what it provides feel safer with it on board, but to me it's a non-issue and I'm happy to explain to any passenger I take up why it isn't a critical piece of equipment. Is it a nice to have? Sure... but not nice enough for me to give up the extra storage, aft CG and $12k.
As for the reduced or no damage to the A/C - once you pull the parachute, the airplane is pretty much totaled and the insurance company has bought it. So to me - why not fly the plane as long as you can?
I don't know of, or have heard of any issues with entering a foreign airspace without a parachute.
I know plenty of people who like and prefer to have the parachute - that's fine... that's their choice and I'm happy it is available. You can always add it after the fact with a couple of days worth of work if you change your mind. I'm building mine with everything up to the parachute installed. Cables are run in the cabin and all I'll have to do is spend the time installing it later if I chose to. No biggie. Who knows - maybe I'll change my mind.
But for now - totally comfy with my decision.