Who Has the Cheapest Auto Insurance for a Toyota Camry in Toledo?

Buying economical car insurance for a Toyota Camry is fairly simple, but it relies on lots of different rating factors such as your financial responsibility, your credit rating, and citations on your driving record. Drivers in Ohio will pay on average $520 a year for Camry insurance, but that figure is a valuation calculated based on a 50-year-old married male driver with full coverage and $500 deductibles.

The issue with using an average estimated rate is the likelihood you’re not a 50-year-old male, single instead of married, or maybe you don’t qualify for the same discounts. Everone’s needs are different, and this illustrates why the best way to find cheap insurance prices for your Toyota is to just take the time to compare rates yourself.

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Your vehicle’s trim level will most likely have an effect on the cost of coverage, so the price you will be charged to insure a Camry LE model will be $88 lower than the insurance cost for the higher-priced Camry Hybrid model, as shown in the table below.

Toyota Camry Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $112 $202 $218 $12 $66 $610 $51
Camry SE $112 $238 $218 $12 $66 $646 $54
Camry XLE $112 $238 $218 $12 $66 $646 $54
Camry Hybrid $126 $238 $246 $14 $74 $698 $58
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Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Estimates do not factor in specific location which can alter auto insurance rates considerably.

Determining which company has the best car insurance rates for a Toyota Camry may require more work than just comparing rates from one or two companies.

Each auto insurance company has their own process for determining rates, so let’s examine the car insurance companies that tend to be cheaper in Toledo. It’s important that you understand Toledo, OH car insurance rates are impacted by many things which can substantially change the price of your policy. Simply having a birthday, moving to a new city, or getting a reckless driving citation can trigger changes in premium that can now make some companies cheaper than competitors.

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Cheapest Ohio car insurance ranked by price
Rank Company Cost Per Year
1 Utica National $654
2 Frankenmuth $680
3 Erie $681
4 Allied $697
5 USAA $719
6 Travelers $726
7 Merchants Insurance Group $755
8 Cincinnati Insurance $756
9 Motorists Mutual $816
10 General Casualty $829
11 Grange Mutual $836
12 Central Mutual $840
13 Hastings Mutual $866
14 State Farm $894
15 Atlantic States $913
16 Westfield $918
17 Western Reserve $941
18 Auto-Owners $968
19 Progressive $991
20 Farmers $1,005
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Utica National quotes some of the most affordable car insurance rates in Toledo at around $654 annually. This is $386 less than the average rate paid by Ohio drivers of $1,040. Frankenmuth, Erie, Allied, and USAA are also some of the lowest-priced Toledo, OH car insurance companies.

As shown above, if you currently have coverage with Allied and switched to Frankenmuth, you could see a yearly price reduction of approximately $17. Ohio drivers with USAA may save as much as $39 a year, and Travelers insureds might cut rates by $46 a year.

Understand that those premiums are averages across all drivers and vehicles and do not factor in an exact vehicle garaging location for a Toyota Camry. So the insurer that has the lowest price for you may not even be in the top 33 companies in the list above. That underscores the importance of why you need to quote rates from as many companies as possible using your own driver data and vehicle information.

Full coverage rates compared to liability-only

Reducing premiums for car insurance is important to most vehicle owners, and one way to buy cheap insurance for a Toyota Camry is to not buy full coverage. The information below shows the difference between insurance costs with and without full coverage. The information is based on a clean driving record, no claims, $1,000 deductibles, single status, and no policy discounts are applied.

Averaged out for all age groups, full coverage costs an additional $1,197 per year more than buying just liability insurance. That is a large expense and it proposes the question when is it safe to stop buying full coverage. There isn’t a steadfast formula to stop buying physical damage coverage, but there is a broad guideline. If the annual cost of having full coverage is about 10% or more of the settlement you would receive from your company, then you may need to consider dropping full coverage.

The illustration below shows how different deductible levels can increase or decrease insurance premiums when researching cheap insurance for a Toyota Camry. The price estimates are based on a single female driver, comp and collision included, and no discounts are applied to the premium.

As shown above, a 50-year-old driver could lower their policy premium by $242 a year by switching from a $100 deductible to a $500 deductible, or save $366 by using a $1,000 deductible. Youthful drivers, like the 20-year-old example, could save as much as $624 each year by using higher deductibles when buying full coverage.

When raising deductibles, it will be required to have enough funds in savings to enable you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

Tips for finding more affordable car insurance for a Toyota Camry

Here are many thrifty ideas that can help you get cheaper coverage.

The last item on the list is notably necessary, as we emphasized in the article above. Prices charged by companies change a lot, so don’t be hesitant to switch to a new company if a more affordable price is available.

Brand loyalty is great, but it isn’t a good idea if that inflexibility results in costing you a small fortune. It only take a few minutes to shop around to find cheaper car insurance for a Toyota Camry in Toledo.

If you aren’t sure which coverage you need and prefer to have professional advice when trying to find lower insurance rates for a Camry, the agents shown below can aid you in deciding which policy is best. To locate a Toledo auto insurance agent close to you, click the button after the list or click here to get price quotes now.

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