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Should I drop collision coverage on an old paid-off car?

Use the free tool — Auto Insurance Cutter FL

What collision coverage actually pays for

Collision coverage pays to repair or replace your car after a crash, no matter who caused it. Comprehensive covers things like theft, fire, and storm damage. Neither is required by Florida law for most drivers — but if your car is financed, your lender requires both. This is general information, not insurance advice; confirm with your agent before changing anything.

A rule of thumb: about ten times the deductible

Collision and comprehensive on a paid-off car worth less than about ten times your deductible may not be worth keeping. If the payout after a claim would barely cover your deductible, you're paying premium every month for coverage that gives you little back.

• Check what your deductible is on your policy.
• Ask your agent or a shop for a rough value of your car.
• Compare: is the car worth close to ten times the deductible, or less?

If the car is financed, don't drop it

A financed car must keep both collision and comprehensive — that's a lender requirement, not a Florida law. Dropping either one on a car you still owe money on can put you in breach of your loan agreement. Confirm with your lender and your agent.

What Florida actually requires you to carry

Florida's minimum required coverage is $10,000 in Personal Injury Protection (PIP) and $10,000 in property damage liability (Fla. Stat. 627.733). Bodily injury liability is optional for most drivers, but it's strongly recommended — don't drop it just to save money.

• Florida Highway Safety and Motor Vehicles — insurance basics
• Florida Office of Insurance Regulation — how to compare coverage

Before you drop anything, ask about these discounts

Florida law requires two discounts that many drivers never ask for:

• A discount for completing an approved defensive-driving course — insurers must offer this, and it must be available to drivers 55 and older (Fla. Stat. 627.0652). You have to ask and provide the certificate.
• A discount for approved anti-theft devices and airbags (Fla. Stat. 627.0653). Same thing — ask, and provide proof.

Most insurers also offer, but don't volunteer: multi-car and bundling discounts, pay-in-full or paperless/autopay, low mileage (roughly under 7,500 miles a year), good student, telematics/usage-based programs (these track your driving — ask how), driver training for teens, loyalty/renewal discounts, and membership, employer, or military discounts. Ask which ones you already get before you decide to drop coverage instead.

What to do next

Type your premium, your deductible, your car, and your drivers into the free tool. It reads your own numbers — not a generic example — and shows you the discounts you likely qualify for, the coverage worth a second look, and a short script to read to your agent. Nothing you type is stored. This is not insurance advice; confirm any change with your agent or Florida's insurance helpline at 1-877-693-5236 (Florida Department of Financial Services).

Auto Insurance Cutter FL explains Florida auto-insurance discounts and coverages in plain language; it can be wrong, and it is not insurance or financial advice. It does not recommend any insurer and does not promise savings. Confirm with a licensed agent or the Florida Department of Financial Services. Nothing you paste is stored.