Save on 1995 Toyota MR2 Insurance Rates

Want cheaper car insurance rates for your Toyota MR2? If you’re new to shopping for car insurance online, it’s easy to get confused by the hoards of car insurance companies offering coverage.

Are you getting all your discounts?

Insuring your vehicles can cost a lot, but companies offer discounts to help offset the cost. Certain discounts will be triggered automatically when you get a quote, but a few need to be asked about before being credited.

  • New Vehicle Savings – Insuring a new car is cheaper compared to insuring an older model.
  • Low Mileage – Low mileage vehicles can qualify you for a substantially lower rate.
  • Accident Waiver – Certain companies allow you one accident before your rates go up so long as you haven’t had any claims prior to the accident.
  • Discounts for Safe Drivers – Drivers who don’t get into accidents may receive a discount up to 45% less for MR2 insurance than less cautious drivers.
  • Seat Belts Save – Buckling up and requiring all passengers to buckle their seat belts can save 10% or more off the personal injury premium cost.
  • E-sign – A few companies will discount your bill up to fifty bucks for buying a policy and signing up digitally online.
  • Student in College – Children who live away from home and don’t have a car can receive lower rates.
  • Bundle and Save – When you combine your home and auto insurance with the same company you may earn approximately 10% to 15%.
  • Service Members Pay Less – Being deployed with a military unit could mean lower rates.
  • Discount for Swiching Early – Some insurance companies reward drivers for signing up prior to your current policy expiring. The savings is around 10%.

It’s important to understand that many deductions do not apply to the entire policy premium. Most only apply to the cost of specific coverages such as collision or personal injury protection. So even though they make it sound like all the discounts add up to a free policy, insurance companies aren’t that generous. But any discount will bring down the amount you have to pay.

To see a list of providers with the best insurance discounts, click here.

How to Compare Insurance Quotes

There are several ways to compare Toyota MR2 insurance quotes, but there is one way that is easier and takes less work. You could waste a few hours talking to insurance agencies in your area, or you can utilize online quotes to get the quickest rates.

Most of the larger companies belong to an insurance system where prospective buyers submit one quote, and each participating company can give them a price based on the submitted data. This system prevents you from having to do quote forms to each company. To compare pricing click here (opens in new window).

The single downside to doing it this way is you don’t know exactly the providers to get pricing from. So if you prefer to pick individual companies to compare rates, we have assembled a list of the cheapest insurance companies in your area. View list of insurance companies.

Whichever method you choose, make sure you use apples-to-apples coverages for each price quote. If your comparisons have differing limits you can’t possibly determine which rate is truly the best. Quoting even small variations in limits may cause a big price difference. And when comparison shopping, getting more free quotes will increase your chances of finding better pricing.

Tailor your coverage to you

When it comes to buying coverage, there really is no “best” method to buy coverage. Everyone’s situation is unique.

For instance, these questions can aid in determining if you would benefit from professional advice.

  • What is the difference between comprehensive and collision coverage?
  • Can my babysitter drive my car?
  • Do I pay less if my vehicle is kept in my garage?
  • Am I covered if hit by an uninsured driver?
  • Am I better off with higher deductibles on my 1995 Toyota MR2?
  • Is my trailer covered?
  • Am I covered by my spouse’s policy after a separation?
  • Do I have coverage if my license is suspended?
  • Is my 1995 Toyota MR2 covered for flood damage?
  • Am I missing any policy discounts?

If you can’t answer these questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form.

Educate yourself about insurance coverages

Having a good grasp of your policy helps when choosing the right coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and reading a policy is terribly boring.

Collision coverages – Collision insurance will pay to fix damage to your MR2 from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things like colliding with a tree, backing into a parked car, hitting a mailbox and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to raise the deductible in order to get cheaper collision rates.

UM/UIM Coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your Toyota MR2.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Usually the UM/UIM limits are set the same as your liablity limits.

Medical costs insurance – Med pay and PIP coverage reimburse you for immediate expenses for X-ray expenses, hospital visits, EMT expenses and pain medications. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to all vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage

Comprehensive or Other Than Collision – Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like hail damage, vandalism and hitting a deer. The most a insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Auto liability insurance – Liability insurance will cover damage or injury you incur to a person or their property that is your fault. It protects YOU against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 100/300/100 that means you have a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000. Some companies may use one number which is a combined single limit that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage pays for claims like bail bonds, funeral expenses and attorney fees. How much liability coverage do you need? That is up to you, but consider buying as large an amount as possible.

Pennies from heaven

Drivers switch companies for a number of reasons such as high rates after DUI convictions, not issuing a premium refund, an unsatisfactory settlement offer or even high prices. It doesn’t matter what your reason, choosing a new company is actually quite simple.

We covered a lot of information how to save on 1995 Toyota MR2 insurance. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. You may even find the best prices are with a small local company.

Cheaper insurance is available both online as well as from independent agents, and you need to comparison shop both to get a complete price analysis. Some auto insurance companies don’t offer online price quotes and these small, regional companies work with independent agents.

For more information, feel free to browse the resources below: