<prompt> Human: Hi Everyone, So here is the situation: I have a 2002 Ford ranger that I am paying off next month. I have had collision on the vehicle because it was financed for the past 2 years. My dilemma is I want to keep the vehicle through the winter and then purchase another vehicle in the spring and keep the truck as a backup for me and my wife. What do you suggest doing with the insurance once the truck is paid off? I dont want to spend a ton of money on car insurance especially if I am only using it as a backup. Any suggestions would be greatly appreciated!  <response>: First, ask yourself If this car gets totaled tomorrow, what would I do? If the answer is panic, because I need a car and have no money for a downpayment, then you need to keep the insurance.If the answer is Id be upset, but financially OK, then you have options. At that point, this is really up to you. Do you want to take the risk of damagingtotaling the car, or do you want to save a few bucks every month. I would definitely cancel the collision with such a car. 