Not the way I drive!
For me, the answer is an emphatic NO.
I carry liability insurance only on my 2002 Chevrolet Venture, my 2006 DL650, my 1979 CB750, and my 1965 CB77. In years past, I have not carried collision coverage on my assorted minivans and motorcycles.
Result: If the van or the Wee-Strom is destroyed, I can use the money that didn't go for premiums, buy a replacement vehicle, and still have money left over. Understand that I bought the van used, for $9000, so I was never driving a $35000 vehicle with no collision coverage.
In every insurance situation, the company must make a profit. I am emphatically among those who have fewer collisions than the average. If I bought collision coverage, the insurance company would make a substantial profit from me. I do not let that happen, and so long as I refrain from using my vehicles to hit things, the profit will stay with me.
By the way, I drive the van 12000 miles per year, and the Wee-Strom 14000 miles per year. The Hondas do not get so much exercise, and you all know exactly why! I haven't hit anything since 1966, and I haven't had a ticket since 1995 (rapping knuckles gently on skull). I think you can see that I am making a sound financial decision by risking the potential cost of replacing a costly vehicle.
Conclusion: this is a personal decision, and you need to look at your history and analyze your premiums, as well as the benefits, if any, from your coverage in the past. Insurance companies look at those figures, and then they adjust your premium so that you are likely to profit them.
You pay the $; you make the choice. Good luck in your analysis.