Calculated risk.
First off, do you own the car? If you owe anything on the car most auto loans require you to have full coverage.
If you hit someone and total your car, can you afford to replace it? If so, it may not be worth spending the money. If not, then keep spending the $250 a year.
I carry collision on my 02 Trailblazer with 180k miles. I own it outright, title in my name, etc. I cannot afford to buy a replacement 100% cash. With the money I do have saved and what they'd give me if I did total it, I could. Therefore, the extra bit I pay each year is currently worth it.
If you drove a $500 beater I wouldn't carry collision on something like that

But any reasonably decent vehicle that would cost a few thousand to replace, yes. Just my opinion.
I didn't used to carry collision "because I couldn't afford it" and I realize now how stupid that was. If I thought I couldn't afford collision coverage, how could I afford to fix or replace the car if I had hit someone?