Automobile collision coverage provides you protection in the event of physical damage to your own automobile (other than that covered under comprehensive insurance) resulting from collision with another inanimate object. Your deductible is the amount of money that you must pay out of your pocket before being reimbursed from the insurance company. The deductible is usually set as a fixed dollar amount. Such as: $250, $500, $1,000, $2,000 etc. The higher your deductible the larger the discount the insurance company will offer. Choosing higher deductibles is a strategy that allows you to save money on your insurance by SELF insuring smaller losses (loss amounts less than your deductible).