Is comprehensive coverage the right choice?

When you need it and when you don’t

Buying comprehensive and collision coverage for your brand-new or leased vehicle is a no-brainer, and creditors always require it. But it doesn’t make sense to pay high premiums for collision or comprehensive for an old car held together with duct tape and spiral notebook wire.

Where is the line? Here are some general guidelines:

• Edmunds.com suggests you add the premium to the deductible. If that number is the same or greater than your car’s worth, you might be better off not paying high premiums.

• Your vehicle may be past its prime, but it is still worth something. If you can’t afford collision, comprehensive may be affordable for your older vehicle. Comprehensive covers liability plus theft, vandalism, riots, explosion, animal collision, falling objects, hail, fire, flood, earthquake, wind, and glass breakage.

Other personal factors will help you decide how much coverage you need for a less-than-new but not-quite-a-clunker vehicle, like your budget, your ability to absorb damage costs alone, and how much you depend on your vehicle for work.