* When the car is worth less than the deductible. If the cost to repair or replace your car is less than your deductible, you won't be reimbursed by the insurance company anyway. So, it's not worth it to keep paying premiums for collision insurance.
* When you can't afford the premiums anymore. Collision insurance premiums can vary significantly depending on the type of car you drive, your driving history, and the coverage limits you choose. If you're struggling to make ends meet, you may need to drop collision insurance to free up some money in your budget.
* When you're driving very little. If you're retired or you don't drive much, you may be able to get by without collision insurance. However, if there are a lot of other vehicles on the road where you drive, consider keeping collision insurance in case you get into an accident.
It's important to note that if you drop collision insurance, you'll be responsible for any damages to your car if you get into an accident. So, make sure you're comfortable with this risk before you make a decision.
