If you drive, you need auto insurance coverage. But just exactly which type of coverage should you have, and which ones are you required to have? Following are the key features of auto insurance (depending on your unique circumstances, you may or may not need all these features): Credit: ©iStockphoto.com/RonFullHD Collision: If you're in an automobile accident, regardless of who is at fault, collision insurance provides protection to replace or repair your vehicle, subject to a deductible.