# Drop auto comp and/or collision

**URL:** <https://community.clark.com/t/drop-auto-comp-and-or-collision/558>\
**Category:** Insurance\
**Created:** [May 16, 2022, 5:19pm UTC](https://community.clark.com/t/drop-auto-comp-and-or-collision/558 "2022-05-16T17:19:25Z")\
**Posts on this page:** 6\
**Page:** 1

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**Author:** ![DE2012](https://avatars.discourse-cdn.com/v4/letter/d/2bfe46/32.png) [@DE2012](https://community.clark.com/u/DE2012)\
**Post date:** [May 16, 2022, 5:19pm UTC](https://community.clark.com/t/drop-auto-comp-and-or-collision/558/1 "2022-05-16T17:19:25Z")

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Honda CRV 2007, average condition, 135,000 miles with little driving now…KBB & Edmund approx value $5109–5433. Geico comprehensive $500 deduct, 6 month premium $12.93…Collision $500 deduct, 6 month premium $99.21…so semi-annually for both $112…would like to lower costs…thoughts please

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**Author:** ![ochotona](https://sea2.discourse-cdn.com/flex016/user_avatar/community.clark.com/ochotona/32/293_2.png) [@ochotona](https://community.clark.com/u/ochotona)\
**Post date:** [May 16, 2022, 5:53pm UTC](https://community.clark.com/t/drop-auto-comp-and-or-collision/558/2 "2022-05-16T17:53:13Z")

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Clark Howard says dump collision / comprehensive if annual premium exceeds 10% of car value

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**Author:** ![fuzzbutt](https://sea2.discourse-cdn.com/flex016/user_avatar/community.clark.com/fuzzbutt/32/94_2.png) [@fuzzbutt](https://community.clark.com/u/fuzzbutt)\
**Post date:** [May 16, 2022, 7:41pm UTC](https://community.clark.com/t/drop-auto-comp-and-or-collision/558/3 "2022-05-16T19:41:19Z")

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You should insure against losses that you can’t afford.

If you can’t afford to just lay out over 5,000 for another car then keep this one insured.

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**Author:** ![DE2012](https://avatars.discourse-cdn.com/v4/letter/d/2bfe46/32.png) [@DE2012](https://community.clark.com/u/DE2012)\
**Post date:** [May 17, 2022, 12:04am UTC](https://community.clark.com/t/drop-auto-comp-and-or-collision/558/5 "2022-05-17T00:04:08Z")

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Thank you, this makes sense for me to keep it for now. I would be able to lay out $5000 if I dropped it, but it would take a chunk out of savings/emergency expenses. Maybe I will also shop around for rates, although I have been satisfied with Geico and it’s bundled with homeowners.

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**Author:** ![thebunny](https://sea2.discourse-cdn.com/flex016/user_avatar/community.clark.com/thebunny/32/246_2.png) [@thebunny](https://community.clark.com/u/thebunny)\
**Post date:** [May 23, 2022, 7:26pm UTC](https://community.clark.com/t/drop-auto-comp-and-or-collision/558/6 "2022-05-23T19:26:17Z")

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Exactly correct, a one size fits all answer is a bad idea. Insurance is to protect you financially. Since we all are in a different position financially and have different risk tolerances, our “correct” answers would be different too.

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**Author:** ![Smartpolitics](https://avatars.discourse-cdn.com/v4/letter/s/65b543/32.png) [@Smartpolitics](https://community.clark.com/u/Smartpolitics)\
**Post date:** [May 23, 2022, 8:31pm UTC](https://community.clark.com/t/drop-auto-comp-and-or-collision/558/7 "2022-05-23T20:31:20Z")

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Our collision is similar costs. Our liability and comprehensive is thru the roof