Have you fallen victim to overpriced car insurance? Trust us, many consumers are feeling buyer’s remorse and feel like there’s no way out.
You have so many auto insurance companies to insure vehicles with, and though it is a good thing to have a choice, it can be more challenging to get the best deal.
Smart consumers take time to compare rates periodically since rates are adjusted regularly by insurance companies. Just because you had the best deal for Corolla insurance a few years ago the chances are good that you can find a lower rate today. Starting now, forget all the misinformation about car insurance because it’s time to teach you the quickest way to save on car insurance.
Discounts can save BIG
Companies that sell car insurance do not advertise all their discounts in an easy-to-find place, so we researched some of the more common and the more hidden discounts you could be receiving.
- Payment Discounts – If paying your policy premium upfront rather than paying monthly you can actually save on your bill.
- Senior Citizens – If you qualify as a senior citizen, you may qualify for reduced rates for Corolla insurance.
- Drive Safe and Save – Safe drivers may save up to 50% more for Corolla insurance than drivers with accidents.
- Drivers Education – Cut your cost by having your teen driver successfully complete driver’s ed class if offered at their school.
- Passive Restraint Discount – Vehicles with factory air bags may earn rate discounts of 20% or more.
- Clubs and Organizations – Being a member of a qualifying organization is a good way to get lower rates on car insurance for Corolla insurance.
- Good Student – Getting good grades can get you a discount of up to 25%. The discount lasts up to age 25.
- Military Rewards – Being on active duty in the military could mean lower rates.
- Sign Online – A few companies give back up to $50 for buying a policy and signing up digitally online.
It’s important to understand that most of the big mark downs will not be given to the entire policy premium. Some only reduce specific coverage prices like collision or personal injury protection. So when the math indicates you could get a free car insurance policy, it just doesn’t work that way.
For a list of providers who offer car insurance discounts, click here to view.
Complexity of Toyota Corolla insurance rates
Consumers need to have an understanding of the factors that play a part in calculating the rates you pay for car insurance. Understanding what influences your rates allows you to make educated decisions that may reward you with lower car insurance prices.
Shown below are a partial list of the pieces companies use to determine rates.
- Being married is a good thing – Being married helps lower the price when buying car insurance. Having a significant other is viewed as being more responsible and it’s statistically proven that drivers who are married are more cautious.
- Bundling policies can get discounts – Some car insurance companies will give a discount to policyholders who have multiple policies with them such as combining an auto and homeowners policy. Discounts can be ten or even up to twenty percent in some cases. If you currently are using one company, it’s still a good idea to compare rates to ensure the best deal. Drivers may still find a better deal by buying car insurance from a different company.
- High performance equals high price – The make and model of the car you are insuring makes a big difference in how high your rates are. The cheapest insurance rates are usually for small economy passenger models, but the final cost of insurance is determined by many other factors. Due to the fact that the Toyota Corolla is a sedan, insuring your vehicle will cost about the same when compared to the average rates.
- High deductibles save money – Physical damage coverage, otherwise known as comp (or other than collision) and collision, protects your Toyota from damage. Examples of covered claims could be running into the backend of another car, vandalism, and rolling your vehicle. Deductibles for physical damage are the amount of money you are required to spend in the event of a claim. The higher the amount you’re willing to pay, the less your car insurance will be for Corolla insurance.
- Big city or small town – Living in less populated areas can save you money when buying car insurance. Less people living in that area translates into fewer accidents and a lower car theft rate. Urban drivers tend to have traffic congestion and longer commute times. Longer commute distances translates into higher accident risk.
In the end, you save
When shopping online for car insurance, do not buy less coverage just to save a little money. In many instances, an insured dropped uninsured motorist or liability limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your aim should be to get the best coverage possible for the lowest price, not the least amount of coverage.
Low-cost Toyota Corolla insurance can be purchased on the web in addition to many insurance agents, so you should compare both in order to have the best price selection to choose from. Some insurance companies do not provide online price quotes and most of the time these small, regional companies sell through independent agents.