Should I drop collision on an older car?
Short answer: A common rule of thumb is that when your annual collision-and-comprehensive premium nears about 10% of your car's value, the coverage may no longer be worth it — because the most it can ever pay is the car's value minus your deductible, and that ceiling drops as the car ages.
Example: on a car worth ~$3,000 with a $1,000 deductible, the most you'd net from a total loss is ~$2,000 — so paying several hundred dollars a year for that protection may not pencil out. The real question is whether you could comfortably replace the car out of pocket if it were totaled tomorrow. This is a general framework, not advice for your specific situation — run your scenario through Sage AI, and confirm with a licensed agent before changing coverage.
