Do I Need Collision Insurance On An Old Car

Hey car gurus,

I’m torn on collision insurance for my old car. It’s a trusty but let’s be honest, it’s seen better days. Gas prices are brutal, so I get the appeal of keeping it on the road. But is it worth paying for collision insurance on a car that’s not exactly a shiny new model anymore? Does collision insurance even make sense for an older car with a lower value? Are there any situations where collision coverage might still be a good idea for an older car?

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Collision insurance is usually more beneficial for newer cars, but it can still be worthwhile if your car’s value justifies the cost and you heavily rely on it.

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Hello Jackson, Deciding on collision coverage for an older car depends on its value and your financial situation. Here’s a quick guide:

Collision coverage pays for repairs if your car is damaged in a collision.
For older cars (typically 5+ years old or low value), collision coverage may cost more than the car’s worth.
Consider dropping collision coverage if repairs wouldn’t be a financial burden and the car’s value is less than the deductible.
Keep comprehensive coverage for protection against theft, fire, and other non-collision events.

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I wouldn’t bother with collision coverage if you can afford to buy a new vehicle or if your current one is totalled.