Although adding collision insurance to your policy may increase your premium, the result is added protection and reduced risk. In Massachusetts, MAPFRE offers limited collision coverage as well. If your vehicle is leased or financed, your lender may require you carry collision insurance on your car. Additionally, drivers of more expensive cars or ones that maintain value, usually carry collision insurance to avoid having to pay out-of-pocket for substantial repairs. Conversely, an owner of a severely depreciated vehicle that would cost more than it’s worth to fix in an accident may not find collision insurance to be worthwhile.