You may not need to carry insurance that protects only your property.
  If you still have an unpaid loan on your vehicle, the contract you have with your bank or lender will probably force you to carry this type of protection.
  If you have paid off your car, you can decide to keep or drop these aspects of your policy.
  You can lower your automobile insurance premiums if you remove or reduce these parts of your insurance policy's protection.
Collision insurance can pay for the cost to repair your vehicle  when your insured auto hits or is hit by another car.
  It can also pay for your car's damages when a covered car hits a something other than a automobile  such as  a tree.
Comprehensive insurance is also known as "Other than Collision.
"  This part of your auto insurance policy pays for damages caused by flood, vandalism, contact with birds or animals, etc..
Since both collision insurance and comprehensive insurance pay for damage to your automobile and not someone else's, you can decide whether or not to drop these from your policy.
  However, if your car is leased, or you have a lien on your auto, you probably will not be able to do so because the actual owner of the auto or the lender will want their interests protected.
The liability portion of your vehicle insurance  policy is the primary aspect of the policy that pays others for their damages.
  If you run into another vehicle and you don't have collision insurance, that fact will not impact the amount of money the other party might get.
Why Should You Eliminate Collision Insurance? The premiums for this portion of your auto insurance  policy may be more than you want to pay.
  If your vehicle is totaled, the insurance company will only pay you its book value.
  At some point, you may feel that the potential return has been reduced enough that thepremiums of the collision insurance is no longer justified by the potential payment you might get from your insurance company.
  If you own your car free and clear you can ask your insurance company to drop or lower the coverage.
You can reduce your collision coverage by reducing your coverage.
  This will lower therates and still give you some protection.
  Your lender or leaser may allow you to raise the deductible up to a specified limit.
Why Should You Drop Comprehensive Insurance? The thought process behind cutting or reducing car comprehensive insurance is the same as the thinking associated with dropping collision insurance.
  However, since the cost for comprehensive insurance is less than the cost of collision insurance, you may want to keep it even after you have dropped your collision coverage.
If your automobile is leased or you have a lien on it, you may not be able to drop the coverage.
  However the leaser or lien holder may allow you to reduce the coverage by raising your deductible.
  This will reduce your Costs, although not as much as completely cutting the coverage would.
Most autos  lose value when they get older.
  This reduces the amount of money that an insurance company is likely to pay to repair or replace a automobile.
  At some point you may feel that the amount of premium your auto's collision or comprehensive coverage adds to your auto  insurance bill is too much.
  Exactly when that point comes is determined by your personal comfort level with risk.
Eliminating comprehensive insurance coverage and/or collision coverage means that you take more risk.
  If your feel that you are unlikely to have an at fault accident since you drive safely this may make sense for you.
  If you garage your vehicle your car is perhaps less likely to be impacted by the perils that other than collision coverage protects you against.
  If this is the case, you may want to take these risks as well.