When do you know its time to drop comprehensive coverage on your auto?

When do you know its time to drop comprehensive coverage on your auto?

I need to be cutting back on expenses to pay for heating oil this winter. The car is a 2001, kelly blue book says its worth around 5000. My deducible is 500. I pay 450 a year if i drop comprehensive it will go down to 190 a year. I would have a very difficult time paying to fix anything over 1000 if i got into an accident. But I need to cut corners to pay for heat. Is this a gamble or smart financing to drop my auto insurance to just liability ? Please give some input.