When do I stop paying for collision and comprehensive insurance coverage?

[FANOFJESUS]

I think the old rule of thumb was when the car reaches eight years old. But I don't know if that is still current.

 

[Payin-the-Toll]

Bought a 1997 Ford Windstar in 2000. Comprehensive and collision was $140/yr. Drove it 12 years and never dropped the coverage--which means it cost me $1680. Never dropped the coverage cause I figured that even totaled out, the vehicle would be worth $3000, which means I'd make out money wise. So basically, I carry the coverage on my vehicles all the time I own them.
Rented a car last summer for daughter's wedding on the west coast. Had new insurance company, and they covered everything but 'loss of use' (time it takes to fix vehicle). Had picked up a new credit card (only had one and wanted a second one in case 1st one was hacked), and it covered 'loss of use', so I was all set.

 

[pb4uski]

My general rule is similar to the CR suggestion - when collision coverage costs me more than 10% of the value of the car, I drop it and self insure for collision.

I wouldn't think that not having collision should affect an ability to get an umbrella at all since umbrella relates to liability coverage.

The OP could explore how much increasing his deductible from $500 to $1000 or $2000 will impact the collision premium cost.