Many people forgo the Comp/Coll coverages because of the relatively low values of their car. It does not hurt to find out the cost of the coverage to see if it fits in your budget. Say you have a car worth $3000. It may only cost $200 a year to insure it with a $500 deductible. If the car is totaled you would get a check for $2500. So it might be worth the coverage. However sometimes the cost of repairing the damages to an older car is greater than its value. In these cases, your insurer will usually just “total” the car and give you a check for the car’s market value less the deductible.