When to Keep Collision Coverage

Is there a general rule for the amount of time to keep collision and comprehensive coverage on a vehicle?


Personally, I would only keep collision on a newer vehicle. Once the vehicle is quite old, I would take collision off and take my chances. After all, collision pays for my car if the accident is my fault. If the car isn't worth much, the insurance company is going to write it off and not pay for the full amount of repairs. In this case, the cost of having collision is not worth it.

Comprehensive coverage is more subjective. In most cases, I would keep comprehensive coverage on my vehicle, if for no other reason than it also protects my valuables (that might be in the car) when I have them with me. Also, comprehensive will also cover you in case of theft and other kinds of claims, in addition to an accident.

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