If you don't have collision insurance you're going to have to pay out-of-pocket for any collision damage to your car. Collision insurance only covers damage to your car and only covers up to the value of your vehicle.
Collision insurance covers your car for repairs and damages after an accident. Collision insurance isn't required by any state laws but is normally required to lease or finance a car. Collision coverage doesn't cover any damage besides damage done to your car. Any outside damage is taken care of through another kind of insurance.
Collision insurance covers exactly what its name says. It covers your car, and only your car in the case of an accident. It's great to add on to your insurance since you only have to pay a deductible.
A deductible for collision coverage is around $500 to $1000. Most companies require you to get collision coverage paired with comprehensive coverage and vise versa. The cost of collision insurance is more than comprehensive insurance. The exact price is determined by how many claims and accidents you've had, along with what kind of car you drive.
Accidents can cause a huge financial burden on you and your family. Repairs can reach into the thousands and you could have to pay out-of-pocket for that without proper coverage. If you had collision insurance you only have to pay up to your deductible and insurance handles the rest. The only time collision insurance isn't worth having is when it costs more than your car is worth. Collision insurance only pays up to what your car is worth.
When it comes to car insurance, there are several factors to consider beyond monthly cost. A policy that covers you when you need it, has a low deductible, and offers several discounts can be hard to find - which is why we've done the work for you.