Something to keep in mind: collision and comprehensive car insurance are usually sold together as a package, but they can be purchased separately. Up to the actual cash value of the car Up to the actual cash value of the car Is It Required or Optional? Expect the cost of comprehensive and collision insurance to be a few hundred dollars per year, but with a wide range depending on where you live, your driving record, and other personal factors like your age, marital status and credit score.
For the average cost of collision and comprehensive insurance in your state, refer to the chart below. But there are also some other things you can do to spend less on comprehensive and collision insurance, including:. However, once your car loan is paid off, collision and comprehensive becomes optional. Kyle Schmitt , vice president and managing director of insurance intelligence at J. Power, typically recommends collision insurance, but says the decision to keep or drop it ultimately depends on your car and your financial situation.
Without those additional types of coverage, your total car insurance payments can go down by several hundred dollars each year. The Marijuana Industry Is Booming. Mortgages Rates Dropped to 3. I would like to subscribe to the NextAdvisor newsletter. See privacy policy. Before you go, sign up for our newsletter to get NextAdvisor in your inbox. Capital One. In the News.
Next Advisor Logo. Register new account Pay your bill. Get your ID cards. Updated: September Collision insurance is a coverage that helps pay to repair or replace your car if it's damaged in an accident with another vehicle or object, such as a fence or a tree. Video Transcript What is collision coverage? You may be thinking: If collision coverage is optional, why buy it?
Have any questions? Contact your Allstate agent today! Quality Auto Coverage Starts Here. Get a quote Find an agent. Collision insurance helps pay to repair or replace your vehicle if it's damaged from: A collision with another vehicle A collision with an object, such as a fence or tree A single-car accident that involves rolling or falling over. Collision insurance does not cover: Damage to your vehicle not related to driving examples: hail or theft Damage to another person's vehicle Medical bills yours or another person's.
You answered out of correct! Get a Quote Find an Agent. This content is for informational purposes only and may not be applicable to all situations.
Coverage subject to terms, conditions, and availability. Policy issuance is subject to qualifications. Connect With Us. Update Below. ZIP Code. City, State Set Your Location. You have entered an invalid ZIP. Please try again. Location data not available. Please enter zip code. Please Wait Updating Location The coverage only pays out up to the current market value of your car, minus your collision deductible. Even if you own your vehicle outright, the coverage might still be worth buying.
ZIP Code. What does collision insurance cover? Your car rolling over. How the collision insurance deductible works. Reducing or waiving your collision deductible. The cost of collision insurance. Do you need collision insurance? This is the math:. If the number is:. Frequently asked questions. When should you drop collision insurance? Do I need collision insurance on an old car? Is collision insurance required by law?
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