Should You Drop Collision Coverage on an Older Car?
It’s a common question — especially when your car’s getting up there in age and you’re looking for ways to trim your insurance bill: “Should I drop collision or comprehensive coverage?”
The answer depends on the value of your car and your comfort with risk.
Collision Coverage: When It Still Makes Sense
Collision coverage pays to repair or replace your vehicle if you’re in an at-fault accident or if you hit another object (like a tree or guardrail).
As your car ages, it’s worth taking a moment to see whether that coverage still gives you value.
If the vehicle’s market value is only a few thousand dollars, and your deductible plus annual premium eats up a big chunk of that, it may not make sense to keep paying for collision.
You can check the current value of your vehicle on Kelley Blue Book (KBB.com) or Edmunds.com. Compare that number against:
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Your deductible amount
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The annual cost of collision coverage
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What you could comfortably afford to repair or replace out of pocket
If the numbers don’t add up, it may be time to drop collision coverage.
Comprehensive Coverage: Usually Worth Keeping
Comprehensive coverage, on the other hand, is typically inexpensive and protects against:
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Theft or vandalism
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Fire or falling objects
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Hail or storm damage
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Animal collisions
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Full glass coverage (no deductible)
Even if your car is older, comprehensive can easily pay for itself the first time a windshield cracks or a storm rolls through.
The Bottom Line
If you could afford to replace your vehicle tomorrow, dropping collision coverage might make sense. But keep comprehensive — it’s affordable protection against many of the unexpected events that don’t involve a crash.
When in doubt, take five minutes to look up your car’s value and run the numbers. A little research can help you make a smart, informed choice about where to save and where to keep coverage.
Need a second opinion?
I’m always happy to help you weigh the pros and cons based on your specific situation — just reply to this email or give me a quick call.
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George Page
Page Insurance Ltd.