Updated April 2026
What Is Collision Coverage Insurance?
How Much Does Collision Coverage Insurance Cost?
- Your vehicle's actual cash value—higher-value cars cost more to insure because the maximum payout is higher.
- Your chosen deductible—selecting a $1,000 deductible instead of $500 can lower your monthly premium by $15 to $30.
- Your driving record—each at-fault accident can increase collision premiums by 20% to 50% for three to five years.
- Your location—urban areas with higher accident rates and repair costs see collision premiums 30% to 60% higher than rural zones.
- Your age and claims history—drivers under 25 or those with multiple claims in the past three years pay significantly more.
- Whether you have a loan or lease—lenders require collision coverage, and financed vehicles often carry lower deductibles, increasing cost.
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