Is Collision and Comprehensive Coverage Worth It?
Compare the yearly cost of covering your own car with what the coverage could pay.
How it works
Collision and comprehensive pay up to your car’s current value, minus your deductible. As a car ages and loses value, the cost of the coverage can become large compared with what it would pay.
A rule of thumb
A commonly cited rule of thumb is to reconsider the coverage when its yearly cost reaches about 10% of the car’s value. Only drop it if you could afford to repair or replace the car yourself. Lenders and lessors usually require it.
See also: collision vs comprehensive and our deductible calculator.
An estimate for planning, not insurance advice.
FAQs
Should I drop collision on an older car?
It depends on the car’s value, your savings and whether you could replace the car. If you have a loan or lease, you probably cannot drop it.
How do I find my car’s value?
Check a used-car valuation guide or dealer listings for similar cars in your area.
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