The cost of your collision coverage depends on three things:

1) Your deductible (a lower deductible means you pay more for collision)
2) Your driving record (more accidents/incidents, higher cost for collision)
3) Where you live, and how far you drive to work

To reduce your costs, you can accept more risk by raising your deductible, or you can reduce your milage by moving closer to work, or taking public transit. Costs can vary dramatically from city to city, and often a suburb will have MUCH cheaper collision coverage.

One note of caution, however. If you completely eliminate your collision coverage, you remove the incentive for your insurance company to "go to bat" on your behalf when you get in an accident. This is because if they accept liability, they only have to repair the other car, but they get to compensate by raising your rates. This actually makes them money. The only way to prevent them from just buckling and accepting liability for every incident you're involved in, is to buy collision insurance.

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