Finding low-cost insurance for a Toyota Camry can be a lot of work, but you can learn these tips to find lower rates.
There are more efficient ways to find car insurance online and we’ll show you the quickest way to compare rates for a Toyota and obtain the lowest possible price from both online companies and local agents.
Pay less by taking advantage of discounts
Insuring your vehicles can cost a lot, but you may find discounts that can drop the cost substantially. Larger premium reductions will be automatically applied when you get a quote, but less common discounts must be specially asked for prior to getting the savings. If you’re not getting every credit you qualify for, you are throwing money away.
- Accident Waiver – A handful of insurance companies will forgive one accident without raising rates as long as you don’t have any claims prior to the accident.
- More Vehicles More Savings – Buying insurance for multiple cars or trucks with the same company may reduce the rate for each vehicle.
- New Vehicle Savings – Insuring a new car is cheaper compared to insuring an older model.
- Fewer Miles Equal More Savings – Driving fewer miles could qualify for discounted rates on garaged vehicles.
- Good Student – This discount can get you a discount of up to 25%. This discount can apply up until you turn 25.
- Braking Control Discount – Vehicles equipped with ABS or steering control can reduce accidents and earn discounts up to 10%.
- Theft Prevention Discount – Cars that have factory anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
- Military Rewards – Being on active duty in the military can result in better rates.
- Payment Method – If paying your policy premium upfront instead of paying each month you could save 5% or more.
Drivers should understand that some of the credits will not apply to the entire policy premium. Most only cut specific coverage prices like comp or med pay. So even though it sounds like you would end up receiving a 100% discount, you’re out of luck. Any amount of discount will help reduce the amount you have to pay.
Complexity of Toyota Camry insurance rates
An important part of buying insurance is that you know the rating factors that come into play when calculating the price you pay for car insurance. When you know what positively or negatively determines base rates empowers consumers to make smart changes that may reward you with big savings.
- Do you know your deductibles? – Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Toyota. Some instances where coverage would apply are collision with another vehicle, collision with an animal, and rolling your vehicle. Deductibles for physical damage are how much you are required to spend out-of-pocket before a claim is paid by your company. The more expense you are required to pay out-of-pocket, the bigger discount you will receive on Camry coverage.
- Your credit rating is important – Credit score is a huge factor in your rate calculation. Consumers who have excellent credit tend to be less risk to insure as compared to drivers with poor credit. So if your credit rating is low, you could pay less to insure your Toyota Camry by improving your rating.
- Your age impacts your rates – Teenage drivers are known to get distracted easily behind the wheel so they pay higher car insurance rates. If you’ve ever had to add a young driver onto a policy can be quite pricey. Older drivers are more responsible, file fewer claims and get fewer tickets.
- Claim-free discounts can add up – If you are a frequent claim filer, you can pretty much guarantee higher rates. Auto insurance companies provide discounts to drivers who are claim-free. Insurance coverage is meant to be used in the event of the large, substantial claims.
- Battle of the sexes – Statistics show women tend to be less risk to insure than men. However, this does not mean women are BETTER drivers than men. Men and women are in accidents in similar numbers, but the male of the species have costlier accidents. Men also tend to have more aggressive citations like reckless driving and DUI. Young males are the most expensive to insure and therefore have the most expensive car insurance rates.
- Traffic citations inflate rates – Careful drivers receive lower rates than people who have multiple driving citations. Only having one citation can boost insurance rates twenty percent or more. If you have severe violations like reckless driving, hit and run or driving under the influence may find they need to file a SR-22 with their state motor vehicle department in order to drive a vehicle legally.
Do drivers who switch really save $487 a year?
Drivers can’t get away from ads that promise big savings by State Farm and Allstate. All the ads make an identical promise that you’ll save big after switching to their company.
How does each company say the same thing? This is how they do it.
All the different companies can use profiling for the type of driver they prefer to insure. An example of a preferred risk might be profiled as between the ages of 30 and 50, owns a home, and chooses high deductibles. Any new insured who meets those qualifications will qualify for the lowest rates and therefore will save quite a bit of money when switching.
Consumers who do not match this ideal profile will have to pay higher rates which leads to the driver buying from a lower-cost company. The ad wording is “people who switch” not “everybody who quotes” save that much money. That is how insurance companies can confidently state the savings.
Because of the profiling, drivers should get quotes from several different companies. It is impossible to predict which car insurance company will fit your personal profile best.
More quotes mean more savings
Drivers who switch companies do it for a variety of reasons including being labeled a high risk driver, high rates after DUI convictions, unfair underwriting practices and even poor customer service. Regardless of your reason, switching car insurance companies can be pretty painless.
Cheap Toyota Camry insurance is attainable both online in addition to many insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. There are still a few companies who do not provide the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.
You just learned a lot of information how to save on Toyota Camry insurance. It’s most important to understand that the more quotes you get, the more likely it is that you will get a better rate. Drivers may discover the best price on car insurance is with a small local company.