View 2014 Toyota Corolla Insurance Rates

Overwhelmed by the crazy number of insurance coverage companies? Many other drivers are as well. People have so many options that it can turn into a real hassle to compare prices.

It’s smart to check insurance coverage prices on a regular basis due to the fact that insurance rates are adjusted regularly by insurance companies. Just because you found the lowest price for Corolla insurance on your last policy a different company probably has better rates today. There is a lot of bad information regarding insurance coverage on the internet, so by reading this article, you’re going to learn some great ways to buy insurance coverage cheaper.

Finding affordable coverage is quite easy. If you currently have car insurance, you should be able to lower your premiums substantially using these tips. But vehicle owners do need to learn the methods companies use to market on the web and use this information to your advantage.

Policy discounts you shouldn’t miss

Companies offering auto insurance don’t necessarily list every discount in an easy-to-find place, so the following is a list of both the well known and the harder-to-find ways to save on auto insurance.

  • Service Members Pay Less – Having a family member in the military can result in better rates.
  • Fewer Miles Equal More Savings – Low mileage vehicles can qualify you for discounted rates on garaged vehicles.
  • No Claims – Good drivers with no accidents can save substantially compared to frequent claim filers.
  • Employee of Federal Government – Being employed by or retired from a federal job can earn a discount up to 10% for Corolla insurance with a few auto insurance companies.
  • Discount for Good Grades – Performing well in school can get you a discount of up to 25%. The good student discount can last well after school through age 25.
  • Student Driver Training – Have your child take driver’s ed class if offered at their school.
  • No Charge for an Accident – A few companies will forgive one accident without raising rates as long as you don’t have any claims prior to the accident.
  • Air Bag Discount – Cars that have air bags and/or automatic seat belt systems can qualify for discounts of 20% or more.

As a disclaimer on discounts, most discount credits are not given to the entire policy premium. Most only reduce individual premiums such as comprehensive or collision. So when the math indicates you could get a free auto insurance policy, you’re out of luck.

Companies who might offer some of the above discounts include:

It’s a good idea to ask all companies you are considering which discounts they offer. All car insurance discounts might not apply in your state.

Toyota Corolla insurance rates are influenced by…

It’s important that you understand the factors that go into determining auto insurance rates. Having a good understanding of what impacts premium levels helps enable you to make changes that could result in much lower annual insurance costs.

Listed below are a few of the “ingredients” that factor into premiums.

  • Car features impact rates – Driving a car with a theft deterrent system can help bring down rates. Anti-theft devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder your car from being stolen.
  • Multiple policies with one company can save – The majority of insurers will give a discount to policyholders who consolidate policies with them, otherwise known as a multi-policy discount. Even with this discount, it’s still a good idea to comparison shop to confirm you are receiving the best rates possible. Consumers may find a better deal by splitting coverages up.
  • Rural vs Urban Areas – Residing in a small town can save you money when talking about auto insurance. City drivers have to deal with traffic congestion and much longer commute distances. Fewer people translates into fewer accidents as well as less vandalism and auto theft.
  • More miles equals more premium – The higher the mileage driven in a year the more you’ll pay to insure your vehicle. The majority of insurers apply a rate determined by how the vehicle is used. Cars used primarily for pleasure use get more affordable rates than those used for commuting. Double check that your auto insurance declarations sheet is rated on the correct usage for each vehicle. Incorrect usage on your Corolla can cost quite a bit.
  • Having a spouse can save you money – Being married can actually save you money on auto insurance. Having a spouse usually means you are more mature it has been statistically shown that married drivers get in fewer accidents.
  • Younger drivers pay higher rates – More mature drivers are more responsible, statistically cause fewer accidents and get fewer tickets. Teenage drivers have a tendency to get distracted easily when driving and because of this, their auto insurance rates are much higher.

Insurance agents can help

When buying the right insurance coverage, there really is no cookie cutter policy. Your needs are not the same as everyone else’s.

Here are some questions about coverages that may help you determine if your insurance needs would benefit from professional advice.

  • Does my medical payments coverage pay my health insurance deductible?
  • Can I drive in Mexico and have coverage?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Will filing a claim cost me more?
  • Can I make deliveries for my home business?
  • Can my teen drive my company car?
  • When would I need rental car insurance?
  • Is my nanny covered when driving my vehicle?

If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form.

Can you really save that much by switching?

Progressive, GEICO, Allstate and State Farm continually stream ads in print and on television. All the companies make the same claim of big savings after switching your policy. How do they all make almost identical claims?

All the different companies have a preferred profile for the driver they prefer to insure. A good example of a driver they prefer could be a mature driver, has no tickets, and drives less than 7,500 miles a year. A driver who fits that profile gets the lowest rates and therefore will save when switching.

Consumers who don’t meet the requirements must pay a higher premium and this can result in business not being written. The ads say “people who switch” but not “drivers who get quotes” save that kind of money. That is how companies can truthfully claim big savings. This illustrates why it is so important to quote coverage with many companies. You cannot predict the company that will fit your personal profile best.

Information about specific coverages

Knowing the specifics of your policy can help you determine appropriate coverage for your vehicles. Insurance terms can be ambiguous and reading a policy is terribly boring.

UM/UIM Coverage

This coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.

Coverage for liability

Liability coverage can cover injuries or damage you cause to other people or property that is your fault. This insurance protects YOU against other people’s claims. It does not 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. As an example, you may have policy limits of 50/100/50 that translate to $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability coverage pays for claims such as loss of income, bail bonds and medical expenses. How much coverage you buy is up to you, but it’s cheap coverage so purchase as much as you can afford.

Collision insurance

This coverage covers damage to your Corolla resulting from colliding with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like driving through your garage door, hitting a parking meter and rolling your car. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. You can also choose a higher deductible to save money on collision insurance.

Comprehensive or Other Than Collision

This coverage covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like damage from a tornado or hurricane, a tree branch falling on your vehicle, falling objects and rock chips in glass. The maximum amount your insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Medical costs insurance

Med pay and PIP coverage kick in for bills for hospital visits, EMT expenses, ambulance fees and X-ray expenses. They are often utilized in addition to your health insurance program or if you do not have health coverage. Coverage applies to you and your occupants and also covers if you are hit as a while walking down the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

A penny saved is a penny earned

We just showed you some good ideas how to get a better price on 2014 Toyota Corolla insurance. The key thing to remember is the more rate quotes you have, the higher the chance of saving money. Drivers may discover the lowest rates come from an unexpected company.

Consumers switch companies for any number of reasons including unfair underwriting practices, not issuing a premium refund, questionable increases in premium or extreme rates for teen drivers. No matter why you want to switch, switching companies is not as hard as you think.

Cheap insurance can be bought both online as well as from independent agents, and you need to comparison shop both to have the best chance of lowering rates. Some companies don’t offer you the ability to get quotes online and usually these small insurance companies provide coverage only through local independent agents.

To learn more, take a look at the articles below: