While liability insurance covers damages you cause to others in a car accident, collision insurance covers damage to your car, regardless of who caused the damage. So, even if you caused the accident, it will cover repairs to your car. Collision coverage only covers the repairs to your car up to the value of your car at the time just before the accident. If your car is worth less than the cost to repair it after an accident (commonly referred to as “totaled”), a collision insurance policy will pay you the value of your car. No states require that you have this coverage – but you may need it for other reasons. For example, if you have a car loan or lease a car, you may be required by your lender to have this coverage. You can save money by getting a policy with a deductable, a fixed amount that you pay towards your own repairs. See more advice on what kind and how much car insurance coverage you really need.
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