A car owner must decide whether she should take out a $500-deductible collision policy in addition to her liability insurance policy. Records show that each year in her area, 8% of the drivers have one accident that is their fault or for which no fault is assigned and that the average cost of repairs for these types of accidents is $5000. If the $500-deductible collision policy costs $350 per year, would she save money in the long run by buying the insurance or “taking the chance”?