Who needs collision and comprehensive insurance?

Collision and comprehensive are optional, meaning you’re not required to purchase them by state law. But if you’re leasing or financing your car, your leasor or bank likely requires you to buy collision and comprehensive insurance.

Even if you’re not required to have collision and comprehensive insurance, a good rule of thumb is to ask yourself if you can afford to pay out-of-pocket to repair your vehicle or buy a new one if it’s totaled.

You might want comprehensive and collision insurance if:

• You could not afford to buy a new car if yours were stolen or totaled.
• You could not afford car repairs if you crashed into something.
• You live in an area with a lot of car theft, vandalism or natural disasters.