If you lease or finance your car, most likely your lender will require comprehensive and collision coverage.Ĭar accidents happen. If you bought a new car or newer used car with cash, you should consider collision insurance. However, your annual premium will vary based on your age, gender, and location.ĭata from the Insurance Information Institute (III) Who needs collision insurance? The average cost is what consumers ended up paying on average for insurance in that state. Your credit score, marital status, vehicle type, previous coverage, and miles driven will impact your annual premium.Ĭosts for liability, collision, and comprehensive coverage costs by state are in the below table. The policy with the lowest price for coverage, the most coverage types and limits, and the lowest deductible is the best one for you. When you're shopping for collision insurance, get multiple quotes. Liability coverage is required by state law.
How much does collision insurance cost?Ĭollision insurance would be in addition to liability coverage. If you lease or finance your vehicle, your lender may require both comprehensive and collision coverage. Comprehensive coverage typically covers damage from fire, vandalism or falling objects like a tree or hail.Ĭollision insurance, on the other hand, covers accidents and collisions, including rollovers. *Most states require some type of liability coverageĬomprehensive coverage replaces or repairs your vehicle if it's stolen or damaged.
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