There's a lot of reasons that accidents and collisions happen, and, for many, that's the reason to have insurance in the first place! When these accidents happen, how exactly does the insurance side work, and will you be able to get a nice replacement vehicle or will you be stuck with a lawn ornament that's too damaged to drive?
Collision insurance covers your vehicle regardless of whether it's your fault or not. If you have a valuable vehicle having good collision coverage is important–you want your insurance to pay to replace the full value of your vehicle! If you have a worthless car, you might not even need collision coverage–generally, if your vehicle is not worth much more than your $500 or $1,000 deductible, paying for collision coverage may not be the best use of your money (but of course, that decision is up to you!).
Other things to think about are deductible levels–sometimes a $500 deductible could cost significantly more per year than a $1,000 deductible. Make the best choice for yourself–are the yearly savings worth it if you have to pay more out of pocket if you get in an at fault accident? The answer is different for everyone, and is one of the many factors to consider when choosing the right deductible level!
