Cheaper 1992 Toyota Corolla Insurance Rates

Trying to find better insurance rates for your Toyota Corolla? Having to pay for expensive insurance can take a big chunk out of your funds, especially in this economy. Comparing rate quotes is recommended to slash your bill and have more diposable income.

You have so many car insurance companies to pick from, and even though it’s nice to have a choice, lots of choices makes it harder to compare rates and find the lowest cost insurance.

Finding the best rates is easy if you know what you’re doing. If you are paying for car insurance now, you should be able to reduce your rates substantially using this information. Drivers only need an understanding of the most effective way to shop for insurance coverage online.

Compare quotes for car insurance

There are a lot of ways to shop for car insurance, but there is one way that is less labor-intensive and much quicker. You could spend your day talking to local insurance agents in your area, or you could save time and use online quotes for quick rates.

Most of the best insurance companies are enrolled in a marketplace where insurance shoppers submit their information once, and each company can give them a price based on that information. This system prevents you from having to do quote forms to each individual car insurance company.

To compare rates now click here to start a free quote.

The only drawback to comparing rates this way is you cannot specify the insurers you will receive quotes from. So if you prefer to pick specific insurance companies to request quotes from, we put together a list of the cheapest car insurance companies in your area. Click here for list of insurance companies.

It doesn’t matter which method you choose, just make darn sure you compare apples-to-apples coverages and limits for each quote you get. If you use higher or lower deductibles it will be impossible to truly determine the lowest rate.

Take advantage of every insurance coverage discount

Insurance coverage is easily one of your largest bills, but there’s a good chance there are discounts to cut the cost considerably. Larger premium reductions will be automatically applied at the time of purchase, but some must be asked about before they will apply.

  • Braking Control Discount – Vehicles that have anti-lock braking systems are safer to drive so companies give up to a 10% discount.
  • Discount for Swiching Early – A few larger companies give discounts for switching to them before your current expiration date. The savings is around 10%.
  • Memberships – Being a member of specific professional or occupational memberships or organizations is a good way to get lower rates on your next renewal.
  • Discounts for Safe Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates for Corolla insurance compared to accident prone drivers.
  • Senior Citizens – Mature drivers may receive a slight reduction on a auto insurance quote for Corolla insurance.
  • Passenger Safety Discount – Factory air bags or motorized seat belts may earn rate discounts as much as 30%.
  • Include Life Insurance and Save – Some insurance companies give lower rates if you buy auto and life insurance together.

We need to note that most discount credits are not given to the entire cost. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So even though it sounds like all those discounts means the company will pay you, insurance coverage companies aren’t that generous.

Larger insurance coverage companies and a summarized list of policyholder discounts are outlined below.

  • Geico offers premium reductions for driver training, military active duty, anti-lock brakes, seat belt use, and good student.
  • MetLife has savings for claim-free, defensive driver, accident-free, multi-policy, and good student.
  • State Farm may include discounts for multiple policy, anti-theft, driver’s education, Drive Safe & Save, multiple autos, and student away at school.
  • Progressive has discounts for multi-vehicle, online quote discount, continuous coverage, multi-policy, online signing, homeowner, and good student.
  • Mercury Insurance may have discounts that include age of vehicle, annual mileage, ease of repair, professional/association, type of vehicle, and location of vehicle.
  • 21st Century policyholders can earn discounts including anti-lock brakes, student driver, automatic seat belts, 55 and older, and early bird.
  • Allstate discounts include premier plus, FullPay discount, teenSMART discount, auto/life discount, premier discount, good payer, and new car.

Double check with each company which discounts you may be entitled to. Savings may not apply to policies everywhere. To see a list of providers that offer many of these discounts, follow this link.

How to know if you need help

When it comes to buying proper insurance coverage for your personal vehicles, there really is not a best way to insure your cars. Everyone’s needs are different so your insurance needs to address that. For example, these questions can aid in determining whether or not you might need professional guidance.

  • Is my camper covered by my car insurance policy?
  • Am I covered when pulling a rental trailer?
  • Does my policy cover me when driving someone else’s vehicle?
  • What is the rate difference between pleasure use and commuting?
  • Can my babysitter drive my car?
  • How much can I save by bundling my policies?
  • Can my teen drive my company car?
  • What should my uninsured motorist coverage limits be in my state?

If you can’t answer these questions, you may need to chat with an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of insurance coverage companies in your area. It’s fast, doesn’t cost anything and can help protect your family.

How your Corolla insurance premiums are determined

Many different elements are used when you get your auto insurance bill. Most are fairly basic like your driving record, but some are not quite as obvious like your vehicle usage and annual miles driven.Consumers need to have an understanding of some of the elements that play a part in calculating the level of your policy premiums. If you know what influences your rates, this empowers consumers to make smart changes that could result in lower rates.

Listed below are most of the major factors used by your company to calculate prices.

  • Your stress level may be raising your premiums – Did you know your career choice can influence rates? Occupational choices like military generals, executives and accountants tend to pay higher premium rates in part from high stress and extremely grueling work hours. Other jobs such as scientists, students and retirees have the lowest average rates for Corolla insurance.
  • How’s your driving record? – Drivers with clean records pay lower auto insurance prices compared to drivers with tickets. Even a single ticket could increase your next policy renewal by twenty percent. People who have serious tickets like DUI or willful reckless driving may find that they have to to file a proof of financial responsibility form (SR-22) with their state’s department of motor vehicles in order to legally drive a vehicle.
  • Multi-policy discounts can save money – Most major insurance companies give discounts to customers that purchase more than one policy in the form of a multi-policy discount. Even if you’re getting this discount consumers should still comparison shop to make sure you are getting the best deal.There is a good possibility that you can find a better deal by buying from different companies
  • Deter car thieves – Selecting a car model that has a built-in theft deterrent system can help bring down rates. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart your car from being stolen.
  • Urban residents pay more – Having an address in areas with lower population can be a good thing when trying to find low car insurance rates. City drivers regularly have congested traffic and much longer commute distances. Fewer people means fewer accidents as well as less vandalism and auto theft.

Can switching companies really save?

Consumers can’t avoid all the ads for car insurance savings from the likes of Progressive, Geico, Allstate and State Farm. They all seem to state the claim about saving some big amount if you switch your coverage to them.

How do they all charge lower premium rates?

Many companies offer their best rates for the driver that makes them money. An example of this type of driver might have to be between the ages of 40 and 55, has a clear driving record, and drives newer vehicles. A propective insured who meets those qualifications gets the lowest auto insurance rates and therefore will save money with a new company.

Potential insureds who may not quite match the “perfect” profile will be charged a more expensive rate which results in business going elsewhere. The trick is to say “people that switch” not “everybody who quotes” save that much money. That’s why insurance companies can advertise the savings. This really illustrates why you really should compare rate quotes every year. Because you never know which car insurance company will have the lowest rate quotes.

Specifics of your auto insurance policy

Knowing the specifics of a auto insurance policy can help you determine the right coverages and the correct deductibles and limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy. Below you’ll find typical coverages offered by auto insurance companies.

Collision coverage – Collision insurance will pay to fix damage to your Corolla caused by collision with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage pays for claims like scraping a guard rail, backing into a parked car, sideswiping another vehicle and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from older vehicles. Drivers also have the option to increase the deductible to bring the cost down.

UM/UIM Coverage – This protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Medical costs insurance – Med pay and PIP coverage pay for short-term medical expenses like pain medications, surgery, EMT expenses, prosthetic devices and nursing services. They are utilized in addition to your health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive or Other Than Collision – Comprehensive insurance will pay to fix damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like a broken windshield, damage from a tornado or hurricane and a tree branch falling on your vehicle. The maximum amount your auto insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability insurance – This provides protection from injuries or damage you cause to a person or their property that is your fault. It protects you against other people’s claims, and does not provide coverage for damage to your own property or vehicle.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 which stand for a $100,000 limit per person for injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.

Liability can pay for claims such as funeral expenses, court costs and legal defense fees. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying higher limits if possible.

Don’t break the bank

A few companies do not provide internet price quotes and many times these regional carriers only sell through local independent agencies. Affordable 1992 Toyota Corolla insurance can be bought on the web as well as from insurance agents, and you need to price shop both in order to have the best chance of saving money.

We’ve covered many tips how you can shop for 1992 Toyota Corolla insurance online. The key concept to understand is the more providers you compare, the better your comparison will be. You may even discover the lowest priced insurance comes from a smaller regional carrier. Some small companies may have significantly lower rates on certain market segments than their larger competitors like Geico and State Farm.

As you go through the steps to switch your coverage, it’s very important that you do not buy lower coverage limits just to save a few bucks. There have been many cases where an accident victim reduced uninsured motorist or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to purchase a proper amount of coverage at an affordable rate, but do not skimp to save money.

Additional insurance information can be found at these links:

Comments About 1992 Toyota Corolla Insurance

  1. Mariela Greer

    Cheap is relative. Live in the eastern part of Knoxville, TN. Got car insurance rates from Progressive, Auto-Owners, and some I forget for my Corolla and I’m now saving $15 a month. They offer free online rate quotes. It’s only liability tho.

  2. Annika Gibbs

    Does Progressive insure at replacement cost?

  3. Amado Fitzpatrick

    I’ve bought from State Farm forever. Cheapest rates in Springfield, Missouri.

  4. Brande Ferrell

    Proud to be from Columbus, GA. Quoted a bunch of companies. Saved about $30 a month. 21st Century was the cheapest option for me. Thankfully I’m not a high risk driver. Did it all online. Liability only on my Toyota.

  5. Loan Ballard

    I’m just west of Huntington, WV. Got prices from 21st Century, Auto-Owners, and Eastwood for my Corolla and saved $99 a year. Just waiting to see how claims go. I think I’ll get rid of full coverage next time.

  6. Winifred Greer

    Thanks for putting this site together. From Rochester, MN. Got car insurance prices from Allstate, Auto-Owners, and Eastwood for my 1992 Toyota Corolla and saved just over $100 a year. Was with Progressive. They have a lot of discounts available. Might find lower rates online. It’s too old for full coverage.

  7. Adah Cash

    Any GEICO or Esurance customers near Omaha, Nebraska?

  8. Elidia Franklin

    I’ve bought from 21st Century forever. Cheapest rates in Lincoln, NE.

  9. Vincenza Clements

    Will GEICO insure with a DUI in Springfield, Massachusetts?

  10. Farrah Page

    Not sure what I should be paying. I live north of New Haven, CT. Got rates from Auto-Owners, MetLife, and a few others for my Toyota and saved just over $110 a year. I’m a pretty low risk driver.