Collision coverage in insurance is just what it sounds like. It will pay to fix or replace your vehicle (not the other person’s vehicle) when you’re in a accident that involves hitting another car or stationary object, like a bridge or a tree. It also can help if someone or something else hits your car while it’s parked.
Collision coverage is generally not required by law, but if you have a loan on your vehicle, the lender will require you to carry this coverage. Here are three ways you can save money on collision insurance: