Do I need collision insurance on a 10 year old car?

Collision insurance provides coverage for damages to your vehicle in the event of an accident, regardless of who is at fault. For a 10 year old car, it may not be worth the cost of collision insurance, if you can afford to repair or replace your vehicle out-of-pocket. If the car is worth less than the cost of insurance premiums and deductible, you may choose to forgo collision coverage. Make sure to weigh the potential benefits and costs before making a decision.

Posted by Alyssa DiCrasto

Alyssa uses her many years of experience writing about complex industries to research and create clear content that makes insurance easy to understand. She has been with Rate Retriever since its beginning, establishing our strict editorial policy and directing our comparison experience.

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