How Much Does 1995 Toyota Corolla Insurance Cost?

Searching for the lowest cost car insurance might appear rather challenging for consumers not familiar with comparing rates on the web. With so many insurance agents and insurers to choose from, how can consumers effectively compare all the different companies and get the cheapest price possible?

If you are paying for car insurance now, you stand a good chance to be able to cut costs considerably using these techniques. Finding the cheapest coverage is simple if you know the tricks. But car owners can benefit from knowing the methods companies use to sell online and use this information to your advantage.

Car insurance policy discounts you can’t miss

Some insurance providers don’t always list every possible discount in an easy-to-find place, so here is a list a few of the more common and the more hidden credits available to bring down your rates. If you do not double check each discount you deserve, you are not getting the best rate possible.

• Data Collection Discounts – Drivers who elect to allow their car insurance company to spy on vehicle usage by using a telematic data system like Allstate’s Drivewise could see a rate decrease if they exhibit good driving behavior.
• Life Insurance – Car insurance companies who offer life insurance give better premium rates if you take out auto and life insurance together.
• Organization Discounts – Being a member of certain professional organizations is a good way to get lower rates on your next car insurance statement.
• Student in College – Children who are enrolled in higher education away from home and leave their car at home can be insured at a reduced rate.
• Drivers Ed for Students – Reduce the cost of insurance for teen drivers by having them successfully complete driver’s ed class in high school.
• Discount for New Cars – Putting car insurance coverage on a new car is cheaper because new vehicles are generally safer.
• One Accident Forgiven – This isn’t a discount exactly, but some insurance companies will allow you to have one accident without the usual rate increase if you are claim-free for a set time period.
• Discount for Multiple Policies – If you can combine your home and auto policy and place coverage with the same company you could earn a discount of nearly 15% which can help you find low cost car insurance.
• Early Renewal Discounts – A few larger companies allow discounts for renewing your policy before your current policy expires. This can save 10% or more.
• Student Discounts – Maintaining excellent grades could provide a savings of up to 20% or more. Many companies even apply the discount to college students until age 25.

As a footnote on discounts, most discount credits are not given to your bottom line cost. A few only apply to individual premiums such as liability, collision or medical payments. Just because it seems like all those discounts means the company will pay you, it just doesn’t work that way. Any amount of discount will help lower the cost of coverage.

Companies that may include these benefits include:

• Geico
• Travelers
• Farm Bureau
• Liberty Mutual
• American Family
• Progressive

If you want affordable car insurance quotes, ask each insurance company to apply every possible discount. Depending on the company, some discounts may not apply to policyholders in your area. If you would like to see a list of car insurance companies that have a full spectrum of discounts, click this link.

Educated choices result in lower insurance prices

The best way to find cheaper car insurance is to take a look at some of the things that aid in calculating your premiums. If you have a feel for what determines base rates, this allows you to make educated decisions that may reward you with big savings. Many different elements are used when you quote your car insurance policy. Some are pretty understandable such as traffic violations, but some are more transparent such as your credit history or how safe your car is.

The factors shown below are some of the items car insurance companies consider when setting your prices.

• Defend yourself with liability protection – A critical coverage on your policy, liability insurance will provide protection if a jury decides you are liable for an accident. Your liability coverage provides for a legal defense to attempt to prove you were not liable. Liability is cheap compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
• Keep rates low by being claim-free – Auto insurance companies award discounts to insureds who file claims infrequently. If you are a frequent claim filer, you can definitely plan on much higher rates or policy non-renewal. Auto insurance is intended for major claims that would cause financial hardship.
• Responsible credit means lower costs – Having a good credit history can be an important factor in calculating your car insurance rates. If your credit could use some work, you could potentially save money when insuring your 1995 Toyota Corolla by improving your rating. People with very high credit ratings tend to be more responsible and file fewer claims than those with poor credit scores.
• Bundle policies with the same company – Lots of insurance companies provide lower prices to policyholders that buy multiple policies such as combining an auto and homeowners policy. Even if you qualify for this discount already, you may still want to shop around to guarantee you are still saving the most.
• Rates can change based on your address – Choosing to live in less populated areas of the country can be a good thing when it comes to car insurance. Lower population means less chance of accidents and lower theft and vandalism rates. Drivers who live in large cities have to deal with more road rage incidents and much longer commute distances. Higher commute times translates into higher accident risk.
• Better prices for no policy lapses – Driving with no insurance is a big no-no and as a result your rates will increase for letting your coverage have a gap. In addition to paying higher premiums, not being able to provide proof of insurance could result in a hefty fine and possibly a revoked license. You may need to submit proof of financial responsibility or a SR-22 with your state DMV.
• Men pay more for car insurance – The statistics show that females take fewer risks when driving. This data doesn’t prove that women are better drivers. Both genders are in auto accidents at a similar rate, but the men tend to have more serious accidents. They also have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly. Male teenagers generally have the highest accident percentage and therefore have the most expensive car insurance rates.

Insurance agents can help

When choosing coverage, there really is not a one size fits all plan. Every situation is different.

Here are some questions about coverages that could help you determine whether or not you may require specific advice.

• Do I need more liability coverage?
• Are my tools covered if they get stolen from my vehicle?
• Am I covered when driving a rental car?
• Am I covered by my employer’s commercial auto policy when driving my personal car for business?
• Can I rate high risk drivers on liability-only vehicles?
• Can my teen drive my company car?
• What is covered by UM/UIM coverage?
• Does my insurance cover a custom paint job?

If it’s difficult to answer those questions, you may need to chat with a licensed agent. To find an agent in your area, complete this form.

Insurance coverage basics

Understanding the coverages of your insurance policy can help you determine appropriate coverage and the correct deductibles and limits. Policy terminology can be difficult to understand and coverage can change by endorsement.

Comprehensive (Other than Collision)

This coverage will pay to fix damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things like hitting a bird, rock chips in glass, damage from getting keyed, theft and a tree branch falling on your vehicle. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Collision coverage protection

This covers damage to your Corolla from colliding with another car or object. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for things such as sustaining damage from a pot hole, crashing into a building, colliding with another moving vehicle and colliding with a tree. This coverage can be expensive, so you might think about dropping it from older vehicles. It’s also possible to increase the deductible to save money on collision insurance.

Liability car insurance

Liability coverage will cover damage that occurs to other people or property by causing an accident. It protects you from legal claims by others, and does not provide coverage for damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 25/50/25 that translate to a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery.

Liability coverage pays for claims such as funeral expenses, repair bills for other people’s vehicles, structural damage and medical expenses. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage gives you protection when other motorists either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Toyota Corolla.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.

Medical expense insurance

Med pay and PIP coverage reimburse you for bills like X-ray expenses, nursing services and funeral costs. The coverages can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

A penny earned…

Consumers leave their current company for a number of reasons such as an unsatisfactory settlement offer, high prices, denial of a claim or unfair underwriting practices. Whatever your reason, switching companies is not as difficult as it may seem.

When buying insurance coverage, you should never buy less coverage just to save a little money. In many cases, drivers have reduced uninsured motorist or liability limits only to find out that they should have had better coverage. The proper strategy is to purchase a proper amount of coverage at the best possible price while not skimping on critical coverages.

Low-cost 1995 Toyota Corolla insurance is possible both online and from local insurance agents, and you should compare price quotes from both to have the best selection. Some auto insurance companies may not have the ability to get a quote online and many times these regional insurance providers prefer to sell through local independent agencies.

Other resources

• Driving in Bad Weather (Insurance Information Insitute)
• Who Has Affordable Chicago Car Insurance Rates for a Toyota Corolla? (QuoteChicago.com)
• How Much is Car Insurance for a Toyota Corolla in Detroit? (DetroitInsure.com)
• Auto Insurance 101 (About.com)
• Bodily Injury Coverage (Liberty Mutual)
• Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)
• What does Personal Injury Protection (PIP) Cover? (Allstate)
• How to Avoid Staged Accidents (State Farm)