Guides / Smart coverage choices
Should you drop collision on an older car?
A simple way to think about it, and when you can't.
Collision and comprehensive pay up to your car's actual cash value, minus your deductible. As a car ages and loses value, the coverage pays less, while the premium may not drop as fast.
Questions to ask yourself
- What's the car worth today? Check several pricing guides.
- What would collision and comprehensive cost per year?
- Could you repair or replace the car from savings if it were totaled?
- Is the car financed or leased? Lenders usually require these coverages.
Keep comprehensive in mind
Comprehensive covers theft, hail, flood and animal strikes, and is often inexpensive. Some drivers keep comprehensive even after dropping collision.
Educational information, not insurance advice. Discounts and rules vary by state and insurer; ask your insurer about your policy. Secure Motors is not an insurer, agent or broker and takes no commissions.