Collision is simply coverage of your vehicle in case of an accident.
However, if the accident was not your fault then the person who hit you would pay to have your car fixed under his policy. The only exception to this is if the person who hit you has no insurance, in that case you would have coverage under your "Uninsured" coverage listed above. The way it works is your insurance company will fix your car and then go after the person who hit you for reimbursement- this is called "Subrogation." Collision also provides coverage when lending your car to someone that's not listed on the policy and does not have there own auto insurance policy. However, if the person whom you lent your car to, a friend or co-worker for example does have an auto policy for there own car then there policy will cover the cost of the accident. Please note, if the person whom you lend your car to is a frequent driver (such as a live in roommate) you must list them on the policy as an "occasional driver." Failing to do so may cause problems if your insurance company finds the driver is a frequent user when you claim he/she is not.