Collision coverage covers accidental loss or the cost of repairing your vehicle if involved in a collision with another object or tips over. Collision coverage is optional to purchase but usually required if your vehicle is financed or leased.

There is usually a deductible amount indicated and this amount is either paid by you, toward the cost of repairs or is deducted from the loss settlement. Higher deductible lowers your insurance premium.

Source: InsuranceHotline.com