My Acura is now over 12 years old but only has 35,000 miles on it. Do you think I should drop collision insurance for it. My understanding is that if I do I would still be covered for liability if I was in an accident
I do not know this subject all that well, but as you describe it I would bet that car is still worth insuring.
Bottom line: If you have collision insurance and your car is totaled, your insurance will cover the value of the car at the time of the accident. If you don’t have collision, you will be responsible for it. Are you willing to assume that risk, and is the amount you will save per year by dropping collision worth it?
Many years ago we dropped collision on an older car. My wife then had an accident which was her fault, and we did not have any coverage. I think it was worth it, as I doubt that we would have gotten that much.
Then, two years later my eighteen-year old Toyota Tercel which had just gone over 300,000 miles was totaled when I was rear-ended on the freeway. I had dropped coverage on that, but that was not my fault and the other driver’s insurace company offered me $1300 for the car. I was amazed they had offered that, as that car was near the end of the line and I was hoping to get through the end of that year before getting rid of it. I doubt anybody would have given me that much for it if I had tried to sell it.
We now have a 2005 Corolla with 260,000 miles on it. I still have collision on that and need to consider whether to drop that or not.
Back to your situation, if I was in your position I am guessing I would keep collision. But, as I said, I don’t know all of the details and this is also an individual decision for you to make 
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What model? KBB.com can help you get the value of your car…If it were me, to save money I’d look at raising the deductible instead of dropping collision. Withi that few miles on it, it would likely be in better condition that most out there.
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IMHO, it all depends on the value of the car.
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KBB shows an RL with standard equipment in “good” condition (I’m guessing hers is in better condition) has a value of almost $20k
Then I would keep collision.
It is a 2012 Acura TSX with high tech package, back up camera, leather seats, heated seats, etc. After filling out data on their website they wouldn’t give me the value without my reg number or vin number which I did not want to provide. However when I looked up use cars for sale I was surprised to see the numbers were so high for cars that had very high mileage. So I think it is worth it for me to keep collision coverage
This is a nice mid -sized car but Acura stopped making this model in 2014 and the only new Acuras are either smaller than
I like or larger than I like.
Since my car is in very good condition with only 35,000 miles and has not given me any problems I plan to keep it a while
When in doubt, I would keep it.
Unless you are mentally and financially prepared to pay for an acceptable replacement vehicle, it is worth the cost.
Insurance is to reduce risk. The car is 12 years old. Can you afford to replace it?
What website are you talking about? I just went to KBB and was able to get a value without giving any specific information. Granted it promoted me to input specific information a few times, but I was able to get a value with only giving my car information with no VIN, registration, e-mail or any other specific information tied to me.
@Wintermute - Yes I could afford to buy a new car in cash but at this point in time I don’t want to do so. However, since the car is old I would probably buy a new car before spending a lot of money to repair this one.
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IMO keep the collision coverage, at least until the car is worth less than $5,000. Collision coverage is usually pretty cheap.
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I just looked up our 2005 Corolla. According to KBB, the trade-in value is $1000~$1700 and the private party value is $2000~$3200. We are paying ~$120 per six months for collision and comprehensive. Time to make a decision.
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I’d drive that until the wheels fall off, that car is pretty much bullet proof.
There is your answer.
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That is what I plan on doing. I did that with the Tercel too. The wheels were figurately ready to fall off when that lady rear-ended me on the freeway, so her timing was perfect.
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Thanks for all your helpful advice! I really appreciate it 
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YOu could save a little by increasing the deductible, but Acrua’s are very reliable cars.
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