It’s well known that car insurance companies want to keep you from shopping around. Drivers who shop for lower prices are very likely to switch companies because there is a great chance of finding lower prices. Surprisingly, a recent survey revealed that people who made a habit of comparing rates saved an average of $850 each year as compared to drivers who don’t make a habit of comparing rates.
If finding the cheapest price on Toyota Corolla insurance in Toledo is the reason you’re here, then understanding the best ways to shop for car insurance can save time and money.
It takes a little time, but the best way to get low-cost auto insurance rates is to start doing a yearly price comparison from different companies in Toledo. This can be done by completing these steps.
- Step 1: Take a little time to learn about coverages and the factors you can control to prevent expensive coverage. Many factors that are responsible for high rates like getting speeding tickets and poor credit history can be controlled by making minor driving habit or lifestyle changes.
- Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from a single company like Progressive and State Farm, while agents who are independent can provide prices from multiple sources.
- Step 3: Compare the new rate quotes to the price on your current policy to see if a cheaper price is available in Toledo. If you find better rates, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Give notification to your agent or company to cancel the current policy and submit a down payment along with a completed application for your new coverage. Don’t forget to place the new proof of insurance certificate above your visor, in the console, or in the glove compartment.
A crucial key to this process is to compare identical deductibles and limits on every quote and and to get rates from as many auto insurance providers as possible. Doing this provides the most accurate price comparison and plenty of rates choose from.
Best companies for Toyota Corolla insurance
The following companies have been selected to offer free quotes in Ohio. If your goal is to find the cheapest car insurance in Ohio, we recommend you click on several of them in order to find the lowest rates.
Toyota Corolla coverage statistics
The coverage table shown below covers different insurance premium costs for Toyota Corolla models. Having knowledge of how premiums are calculated can help customers make informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Price information does not factor in garaging location in Toledo which can modify coverage rates considerably.
The information below shows how choosing a deductible and can influence Toyota Corolla insurance costs for different age groups of insureds. The premiums assume a single male driver, full coverage, and no discounts are applied.
Reckless driving habits raise car insurance rates
The information below shows how violations and accidents can increase Toyota Corolla car insurance costs for different age categories. The data assumes a married female driver, comp and collision included, $100 deductibles, and no discounts are applied.
Price comparison of only insuring for liability
The information below shows the comparison of Toyota Corolla insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no violations or claims, $100 deductibles, single status, and no policy discounts are applied.
When to stop buying comprehensive and collision coverage
There is no set guideline to stop paying for comp and collision coverage, but there is a general convention. If the annual cost of having full coverage is more than about 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s pretend your Toyota Corolla book value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after the deductible is paid. If premiums are more than $300 annually for your policy with full coverage, then you might want to think about dropping full coverage.
There are some conditions where buying only liability insurance is not a good plan. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not buy liability only.
Why Your Insurance Rates might be higher
Smart consumers have a good feel for the different types of things that aid in calculating insurance rates. When you know what positively or negatively controls the rates you pay, this enables you to make decisions that could result in lower rates. Lots of things are used in the calculation when quoting car insurance. Most are fairly basic like a motor vehicle report, but other factors are less apparent like your vehicle usage or your commute time.
Drive a fast car and pay more – The performance of the car you are buying insurance for makes a significant difference in how high your rates are. The lowest rates are generally reserved for the lowest performance passenger cars, but many other things help determine your insurance rates.
The chart below uses these assumptions: married male driver age 50, full coverage with $1000 deductibles, and no discounts or violations. The data compares Toyota Corolla insurance rates compared to other models of vehicles that have a range of performances.
- Married drivers pay lower costs – Your spouse can get you a discount when buying insurance. Having a spouse demonstrates that you tend to be more mature and responsible and it’s statistically proven that being married results in fewer claims.
- Employer stress can affect premiums – Did you know your job can affect your rates? Occupational choices like military generals, architects, and miners generally have higher rates than average because of job stress and lengthy work days. On the other hand, careers like professors, athletes and the unemployed have the lowest average rates.
- More policies can equal more savings – Some insurance companies afford better rates to policyholders that purchase more than one policy such as combining an auto and homeowners policy. Even if you qualify for this discount already, it’s in your best interest to get quotes from other companies to ensure the best deal.There is a chance you can find lower rates by buying insurance from a different company.
- Low coverage deductibles cost more – Deductibles for physical damage state the amount of money the insured will be required to pay before a claim is paid by your company. Physical damage coverage, termed comprehensive and collision coverage on your policy, protects your car from damage. A few examples of covered claims are rear-ending another vehicle, animal collisions, and damage caused by road hazards. The larger the amount the insured is willing to pay, the less money you will pay for insurance.
- Big cities mean more claims – Living in smaller towns and rural areas of the country is a positive aspect if you are looking for the lowest rates. Fewer drivers and short commutes means less chance of accidents and also fewer theft and vandalism claims. Residents of big cities have more auto accidents and a longer drive to work. More time behind the wheel statistically corresponds to a higher accident and claim rate.
- Drivers with good credit save on insurance – Having a bad credit history is a large factor in determining premium rates. If your credit rating leaves room for improvement, you could potentially save money when insuring your Toyota Corolla by taking the time to improve your credit score. People with very high credit ratings tend to be better risks to insure than drivers who have bad credit.
Premiums are lower the older you get – Beginning drivers in Ohio are statistically proven to be careless and easily distracted when driving with friends therefore insurance rates are much higher. If you’ve ever had to add a young driver to your policy can really hurt. More experienced drivers tend to be more responsible, cause fewer claims and accidents, and are safer drivers.
The following data assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.
Loss probability for a Toyota Corolla – Insurers analyze the history of losses to calculate a price that offsets possible losses. Vehicles that the data shows to have higher loss trends will have higher premium rates. The table below shows the historical loss data for Toyota Corolla vehicles.
For each coverage type, the loss probability for all vehicles compiled together is represented as 100. Numbers that are below 100 mean the vehicle has better than average losses, while numbers that are greater than 100 indicate more frequent claims or larger claims.
Auto Insurance Loss Data for Toyota Corolla Models Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Corolla 133 111 94 156 158 128BETTERAVERAGEWORSE
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Get lower-cost Toyota Corolla insurance in Toledo with discounts
Not many people think insurance is cheap, but there are discounts available that you may not even know about. Some discounts will apply when you get a quote, but a few need to be manually applied before you will receive the discount. If they aren’t giving you every credit you qualify for, you’re paying more than you need to.
- Driver’s Ed – Have your child take driver’s ed class in high school.
- Cautious Drivers – Drivers without accidents may save up to 50% more than drivers with accident claims.
- Professional Organizations – Belonging to certain professional organizations could trigger savings on insurance.
- Early Payment Discounts – By paying your entire bill at once rather than paying monthly you can avoid monthly service charges.
- Switch and Save Discount – A few insurance companies allow discounts for renewing your policy before your current expiration date. You could save around 10% when you buy Toledo auto insurance online.
- Accident Forgiveness – This one is not really a discount per se, but a handful of insurance companies permit an accident before your rates go up if your claims history is clear prior to being involved in the accident.
- Discounts for New Vehicles – Buying a new car model can be considerably cheaper due to better safety requirements for newer vehicles.
A little disclaimer on discounts, most credits do not apply to the whole policy. Most only reduce individual premiums such as collision or personal injury protection. So despite the fact that it appears it’s possible to get free car insurance, it just doesn’t work that way.
The example below shows the comparison of Toyota Corolla insurance prices with and without discounts applied to the policy premium. The costs are based on a female driver, no tickets, no at-fault accidents, Ohio state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, marriage, multi-car, claim-free, and safe-driver discounts applied.
To view companies that offer discounts in Ohio, click here.
Local Toledo insurance agents
Certain consumers prefer to sit down and talk to an agent and we recommend doing that One of the great benefits of comparing rates online is the fact that drivers can get the lowest rates and still choose a local agent.
To make it easy to find an agent, after completing this quick form, your insurance coverage information is instantly submitted to participating agents in Toledo that provide free Toledo auto insurance quotes for your insurance coverage. There is no need to search for any insurance agencies because quoted prices will be sent to the email address you provide. You can get cheaper insurance rates without requiring a lot of work. If you wish to get a rate quote from a specific insurance company, don’t hesitate to find their quoting web page and fill out their quote form.
Choosing an company is decision based upon more than just a cheap price quote. Before buying a policy in Toledo, get answers to these questions.
- Can glass claims be handled at your home?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Do they reduce claim amounts on high mileage vehicles?
- Are there any discounts for paying up front?
- Will a damage claim use OEM or aftermarket replacement parts?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Has the agent ever had any license suspensions?
- Do they offer rental car reimbursement?
Is an exclusive or independent auto insurance agent right for you?
When researching a reliable agent, it can be helpful to understand the different types of agencies and how they function. Agents can be classified as either independent or exclusive depending on the company they work for.
Exclusive Insurance Agents
Exclusive agents can only provide pricing for a single company and examples are AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agencies are unable to provide rate quotes from other companies so keep that in mind. Exclusive agents receive a lot of sales training in insurance sales which helps overcome the inability to quote other rates.
Listed below are Toledo exclusive agencies who can help you get price quote information.
Independent Insurance Agencies
Agents in the independent channel do not sell for just one brand and that enables them to quote your coverage with any number of different companies depending on which coverage is best. If your premiums go up, your agent can switch companies and you don’t have to find a new agent. If you are trying to find cheaper rates, it’s a good idea to get quotes from at a minimum one independent agency to have the most options to choose from.
Below are independent agencies in Toledo who can help you get price quotes.
If you receive good responses to all your questions as well as a price you’re happy with, most likely you have located an auto insurance agent that meets the criteria to service your policy.
When in doubt talk to an agent
When buying your policy, there is no best way to insure your cars. Everyone’s needs are different.
These are some specific questions can aid in determining if your situation would benefit from an agent’s advice.
- Is my cargo covered for damage or theft?
- Exactly who is provided coverage by my policy?
- Why am I required to buy liability insurance?
- Will my insurance pay for OEM parts?
- If my pet gets injured in an accident are they covered?
- What are the liability requirements in my state?
- Am I covered if I back into my garage door?
- Should I file a claim if it’s only slightly more than my deductible?
If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, fill out this quick form.
Smart shoppers get results
Affordable Toyota Corolla insurance in Toledo is available both online in addition to local insurance agencies, so get free Toledo auto insurance quotes from both of them to get a complete price analysis. A few companies may not offer online price quotes and these regional carriers work with independent agents.
As you prepare to switch companies, you should never reduce needed coverages to save money. There are many occasions where an accident victim reduced physical damage coverage only to find out that they should have had better coverage. The proper strategy is to buy enough coverage at the best possible price while still protecting your assets.
Drivers leave their current company for a number of reasons such as denial of a claim, high prices, high rates after DUI convictions and extreme rates for teen drivers. Whatever your reason, finding a new auto insurance company can be less work than you think.
More information is available at the links below
- Help Your Teen Be a Better Driver (State Farm)
- How Much are Car Insurance Quotes for a Honda CR-V in Toledo? (FAQ)
- Who Has Affordable Toledo Car Insurance Rates for Inexperienced Drivers? (FAQ)
- What Auto Insurance is Cheapest for a Hyundai Elantra in Toledo? (FAQ)
- Who Has the Cheapest Toledo Car Insurance for College Students? (FAQ)
- Understanding Limits and Deductibles (Allstate)
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)