“If your vehicle is currently financed, you may be required to carry comprehensive coverage
and collision coverage
. If it isn’t, it can still be very beneficial to carry both.
Collision coverage may seem expensive, but it is what protects your vehicle if there is any damage done to it by another car or object. It also covers any at-fault damage. Even if you are a good driver, you can’t predict the future or the behavior of other drivers.
If you can afford to replace or repair your vehicle after a collision, then you may not need it. If damage to your vehicle would cause financial hardship, you should add collision coverage.
The cost of collision coverage varies from carrier to carrier. Shop around and compare rates. You can also look at higher deductibles for comprehensive and collision coverage to reduce the cost.