2002 Toyota Camry Car Insurance Cost

Scraping up a payment for expensive Toyota Camry insurance can draw down your checking account and make it impossible to make ends meet. Getting a rate comparison is free and is an excellent way to reduce premiums and put more money in your pocket.

Big-name insurance companies like State Farm, Progressive and Geico all claim big savings with ad campaigns and it can be hard to ignore the flying pigs and cute green geckos and find the best price available.

It’s important to compare premium rates once or twice a year because rates change quite often. Even if you think you had the best rate on Camry insurance a couple years back you may be paying too much now. You’ll find a ton of advice on insurance coverage on the web, but we’re going to give you some solid techniques on how to lower your insurance coverage premiums.

The cheapest insurance

There are a variety of methods to compare insurance prices but there is one way that is less time-consuming than others. You could spend the better part of a day discussing policy coverages with agents in your area, or you can stay home and use online quotes to maximize your effort.

Many insurance companies participate in a marketplace where prospective buyers submit one quote, and each participating company can provide price quotes based on that data. This prevents consumers from doing quotation requests to every company.

To get comparison pricing now click here (opens in new window).

The only downside to doing it this way is you cannot specify which companies to get quotes from. If you wish to select from a list of companies to compare, we have a page of low cost insurance companies in your area. View list of insurance companies.

You can use whichever method you prefer to find lower rates, just ensure you are comparing identical coverage data for each quote you get. If you have mixed coverages it will be nearly impossible to find the best deal for your Toyota Camry. Even a minor difference in insurance coverages or limits may result in large price differences. Keep in mind that quoting more will enable you to find a better price. Some insurance companies are not set up to provide prices over the internet, so you should also compare quotes on coverage from those companies, too.

Cheaper rates with these discounts

The price of auto insurance can be rather high, but you may find discounts that many people don’t even know exist. Certain reductions will be credited at the time of quoting, but a few need to be requested specifically before being credited.

• Sign Online – A few larger companies give back up to $50 shop auto insurance on their website.
• Multi-line Discount – Select insurance carriers reward you with a break if you buy life insurance from them.
• ABS Braking Discount – Anti-lock brake equipped vehicles prevent accidents and earn discounts up to 10%.
• Professional Memberships – Affiliation with qualifying clubs or civic groups is a good way to get lower rates on your next renewal.
• Anti-theft Discount – Cars and trucks with anti-theft systems are stolen with less frequency and earn discounts up to 10% off your auto insurance quote.
• Passive Restraint Discount – Cars that have air bags may get savings of 20 to 30 percent.
• Military Deployment Discount – Having a deployed family member may lower your car insurance rates slightly.
• Cautious Drivers – Drivers who don’t get into accidents may receive a discount up to 45% on Camry insurance than less cautious drivers.
• Multiple Vehicles – Buying a policy with primary and secondary vehicles on one policy can reduce the rates for all insured vehicles.
• Distant Student Discount – Kids who attend college more than 100 miles from home and don’t have a car can be insured at a reduced rate.

As a disclaimer on discounts, many deductions do not apply to the entire policy premium. Some only reduce specific coverage prices like medical payments or collision. So even though they make it sound like having all the discounts means you get insurance for free, it’s just not the way it works. But all discounts will reduce your policy premium.

Car insurance companies who may offer these discounts include:

• Progressive
• SAFECO
• American Family
• MetLife
• Geico
• The Hartford

If you need lower rates, check with all companies you are considering which credits you are entitled to. Some credits might not be available to policyholders everywhere.

Insurance coverage can be complex

When it comes to buying proper insurance coverage for your vehicles, there really is no one size fits all plan. Every insured’s situation is different so your insurance needs to address that. These are some specific questions could help you determine if your situation might need professional guidance.

• Can my teen drive my company car?
• I have health insurance so do I need medical payments coverage?
• Can I afford to pay high deductible claims out of pocket?
• Is my teenager covered with friends in the car?
• Do I need PIP coverage since I have good health insurance?
• Should I buy more coverage than the required minimum liability coverage?
• Will my rates increase for filing one claim?
• Do I have coverage if my license is suspended?
• Can I make deliveries for my home business?
• Am I covered when driving in Canada or Mexico?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Get Toyota Camry insurance at a discount

Many things are considered when premium rates are determined. A few of the factors are predictable such as your driving history, but some are more transparent such as your credit history or how safe your car is.

The itemized list below are a few of the “ingredients” used by insurance companies to determine your prices.

• Safer occupants lowers car insurance rates – Vehicles with good safety scores tend to have lower insurance rates. Vehicles built for safety reduce the chance of injuries and lower rates of occupant injuries translates directly to fewer claims which can result in lower premiums.
• Eliminate extra policy coverages – Policies have optional add-on coverages that you can get tricked into buying on your car insurance policy. Things like rental car coverage, accident forgiveness, and extra equipment coverage may be wasting your money. They may sound like good ideas when talking to your agent, but if you have no use for them eliminate them to save money.
• When should you not file a insurance claims? – Car insurance companies generally give better rates to drivers who do not file claims often. If you tend to file frequent claims, you can definitely plan on either higher rates or even cancellation. Insurance coverage is meant to be used in the event of claims that pose a financial burden.
• Low deductibles mean high rates – Comp and collision deductibles represent how much money you are required to spend out-of-pocket if you file a covered claim. Coverage for physical damage, aka comp and collision, covers damage that occurs to your car. A few examples of covered claims could be rearending another vehicle, collision with a deer, and damage from wind. The more money you choose to pay out-of-pocket, the better rate you will receive on Camry insurance.

Insurance coverage myths debunked

Progressive, Allstate and Geico continually stream television and radio advertisements. They all make the same claim about how much you will save just by switching your insurance coverage policy to them. But how can every company claim to save you money? Just pay attention to how they say it.

All companies have a certain “appetite” for the type of driver they prefer to insure. A good example of a preferred risk should be over the age of 35, has a low-risk occupation, and has great credit. Any person who fits those characteristics receives the best rates and therefore will cut their rates substantially.

Potential insureds who don’t qualify for the requirements must pay higher premiums which results in business not being written. The wording the ads use say “people that switch” not “everyone that quotes” save that much when switching. That’s why companies can truthfully advertise the way they do. Because every company is different, you need to get auto insurance quotes from several different companies. It is just not possible to predict which insurance companies will fit you best based on your risk profile.

Auto insurance coverages

Understanding the coverages of a insurance policy helps when choosing the best coverages for your vehicles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. Shown next are the usual coverages offered by insurance companies.

Uninsured or underinsured coverage

This coverage provides protection from other motorists when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers 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 should not be overlooked.

Liability coverage

Liability coverage will cover injuries or damage you cause to people or other property. This insurance protects YOU from claims by other people, and does not provide coverage for damage to your own property or vehicle.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery.

Liability coverage pays for things like attorney fees, pain and suffering, legal defense fees and repair costs for stationary objects. The amount of liability coverage you purchase is your choice, but consider buying higher limits if possible.

Medical expense coverage

Med pay and PIP coverage provide coverage for expenses for hospital visits, surgery, X-ray expenses, rehabilitation expenses and ambulance fees. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not universally available and may carry a deductible

Collision protection

This coverage will pay to fix damage to your Camry resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things like scraping a guard rail, colliding with a tree, driving through your garage door, crashing into a building and hitting a parking meter. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. Another option is to raise the deductible to save money on collision insurance.

Comprehensive protection

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like a broken windshield, a tree branch falling on your vehicle, damage from a tornado or hurricane, hail damage and fire damage. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Quote often and quote early

We covered quite a bit of information on how to shop for 2002 Toyota Camry insurance online. The key thing to remember is the more times you quote, the more likely it is that you will get a better rate. You may be surprised to find that the biggest savings come from some of the lesser-known companies. These smaller insurers may cover specific market segments cheaper compared to the large companies like State Farm or Progressive.

Some insurance companies may not have online rate quotes small insurance companies only sell through local independent agencies. Cost effective 2002 Toyota Camry insurance can be purchased on the web and from local insurance agents, and you need to comparison shop both so you have a total pricing picture.

Much more information about insurance is located at these links:

• Teen Driving Statistics (Geico)
• Who Has Affordable Car Insurance Quotes for a Toyota Camry in Los Angeles? (LosAngelesCoverage.com)
• Safe Vehicles for Teens (iihs.org)
• Help Your Teen Be a Better Driver (State Farm)
• Car Insurance for Teen Drivers with Divorced Parents (Allstate)
• Tools for Teen Driving Safety (State Farm)
• Teen Driver Statistics (Insurance Information Insitute)