View 2003 Toyota Corolla Insurance Cost

Comparing and finding low cost prices for insurance may be nearly impossible for drivers not familiar with buying insurance online. With so many agents and online companies available, it can easily become a real difficult job to find better rates.

You need to compare prices every six months because rates are adjusted regularly by insurance companies. Even if you got the best rate for Corolla insurance two years ago you can probably find a lower rate today. Block out anything you think you know about insurance because we’re going to show you one of the quickest ways to find lower rates on insurance.

Buy more affordable auto insurance with these tips

Many things are considered when you get your auto insurance bill. A few of the factors are predictable like a motor vehicle report, although others are less obvious like your continuous coverage or how safe your car is.Smart consumers have a good feel for the rating factors that help calculate your premiums. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that can earn you lower premium levels.

The factors shown below are just a few of the factors auto insurance companies consider when setting your premiums.

  • Only buy incidental coverages you need – There are many add-on coverages that can add up if you aren’t diligent. Coverages like roadside assistance, death and dismemberment, and membership fees are examples of these. These may sound like a good investment initially, but your money might be better spent on other coverage so eliminate them to save money.
  • Pay less with a high NHTSA crash test rating – Safer cars get lower rates. Safe vehicles reduce injuries and better occupant protection means lower claim amounts and cheaper rates on your policy. If your Toyota Corolla is rated at least four stars on you may qualify for a discount.
  • Single drivers take more risk – Having a significant other may earn you lower rates on your auto insurance bill. Marriage may mean you are more mature and insurance companies reward insureds because drivers who are married file infrequent claims.
  • Lower rates with a multi-policy discount – Lots of insurance companies give discounts to insureds who carry more than one policy such as combining an auto and homeowners policy. Even if you qualify for this discount already, it’s in your best interest to compare other insurance prices to make sure you are getting the best deal. Drivers may still save money by buying auto insurance from a different company.
  • Stressful job may mean higher premiums – Jobs like military generals, architects and financial analysts are shown to have the highest average rates in part from intense work situations and lengthy work days. Other occupations such as actors, engineers and performers have lower than average premiums for Corolla insurance.
  • Pleasure use saves money – The higher the miles on your Toyota in a year the more it will cost to insure it. A lot of companies calculate rates determined by how the vehicle is used. Cars and trucks left parked in the garage can be on a lower rate level compared to those used for work or business. It’s a smart idea to ensure your vehicle rating is showing annual mileage. Having the wrong rating on your Corolla can result in significantly higher rates.

Discounts to earn lower-cost auto insurance rates

Insurance can cost an arm and a leg, but you might be missing out on some discounts that you may not know about. A few discounts will automatically apply when you complete an application, but occassionally some discounts must be specially asked for prior to receiving the credit.

  • Paper-free Discount – A few larger online companies will give a small break for completing your application digitally online.
  • Early Signing – A few larger companies allow discounts for buying a policy prior to your current policy expiring. You may see this discount when you get car insurance quotes online.
  • Good Grades Discount – This discount may save you up to 25%. You can use this discount normally until age 25.
  • Save with a New Car – Buying coverage on a new vehicle is cheaper because newer models have to meet stringent safety requirements.
  • Discounts for Government Workers – Having worked for a branch of the government could provide a small rate reduction for Corolla insurance with certain companies.
  • Student Discount for Driver Training – Require your teen driver to enroll and complete driver’s education in school or through a local driver safety program.
  • Discounts for Seat Belt Usage – Buckling up and requiring all passengers to wear their seat belts can save 10% or more off the medical payments premium.
  • ABS Braking Discount – Cars equipped with ABS or steering control have fewer accidents and qualify for as much as a 10% discount.

Discounts reduce rates, but you should keep in mind that most credits do not apply the the whole policy. Some only apply to the cost of specific coverages such as liability and collision coverage. So even though it sounds like you can get free auto insurance, you’re out of luck.

The best auto insurance companies and a selection of discounts are included below.

  • The Hartford offers discounts for good student, air bag, anti-theft, defensive driver, and driver training.
  • American Family policyholders can earn discounts including air bags, TimeAway discount, multi-vehicle, early bird, defensive driver, and accident-free.
  • Progressive may have discounts that include multi-policy, online signing, good student, multi-vehicle, continuous coverage, homeowner, and online quote discount.
  • Travelers may include discounts for good student, continuous insurance, driver training, student away at school, new car, and IntelliDrive.
  • Farmers Insurance may offer discounts for youthful driver, mature driver, early shopping, multi-car, electronic funds transfer, and distant student.
  • USAA discounts include multi-policy, multi-vehicle, defensive driver, loyalty savings, and family discount.
  • Liberty Mutual offers discounts including hybrid vehicle, preferred payment discount, newly married, new vehicle discount, new move discount, and multi-car.

It’s a good idea to ask each company or agent the best way to save money. Some of the discounts discussed earlier may not be available in every state.

Tailor your insurance coverage coverage to you

When buying proper insurance coverage, there really is no best way to insure your cars. Everyone’s needs are different.

Here are some questions about coverages that might point out whether your personal situation might need professional guidance.

  • Does liability extend to a camper or trailer?
  • Do I need more liability coverage?
  • Can I still get insurance after a DUI?
  • Can I afford to buy a different vehicle if my 2003 Toyota Corolla is totaled?
  • What is the ISO rating for a 2003 Toyota Corolla?
  • Do I need to file an SR-22 for a DUI in my state?
  • At what point should I drop full coverage?
  • Am I better off with higher deductibles on my 2003 Toyota Corolla?
  • Does my insurance cover a custom paint job?

If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an agent. To find an agent in your area, fill out this quick form.

Auto insurance coverages 101

Having a good grasp of auto insurance can be of help when determining the best coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your Toyota Corolla.

Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Normally these coverages are identical to your policy’s liability coverage.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage reimburse you for expenses for things like dental work, doctor visits, pain medications and EMT expenses. They are often used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Comprehensive insurance

This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as damage from a tornado or hurricane, fire damage and hitting a bird. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Liability car insurance

This protects you from damage that occurs to other’s property or people. It protects you from claims by other people. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 100/300/100 that translate to $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000. Alternatively, you may have a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage protects against things such as bail bonds, court costs, structural damage and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as much as you can afford.

Collision coverage protection

Collision coverage covers damage to your Corolla caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims such as colliding with a tree, hitting a parking meter, sustaining damage from a pot hole and hitting a mailbox. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to raise the deductible to get cheaper collision coverage.

Smart shoppers get results

Budget-conscious 2003 Toyota Corolla insurance can be bought online and also from your neighborhood agents, and you need to price shop both to get a complete price analysis. Some companies do not provide online quoting and many times these regional insurance providers prefer to sell through local independent agents.

Drivers change insurance companies for any number of reasons including delays in paying claims, not issuing a premium refund, delays in responding to claim requests or even policy cancellation. No matter why you want to switch, choosing a new insurance company can be pretty painless.

In this article, we covered a lot of tips how to compare 2003 Toyota Corolla insurance rates online. The key concept to understand is the more you quote car insurance, the higher the chance of saving money. You may even discover the lowest rates are with the least-expected company.

For more information, feel free to visit the resources below:

Comments About 2003 Toyota Corolla Insurance

  1. Britt Solis

    If you have a good history and live around Evansville, IN, check out State Farm. They seem to be cheaper. You can get a rate quote online. I only have liability coverage on it.

  2. Krystin Murray

    I’m just north of Portland, OR. Got car insurance prices from Mercury, Encompass, GEICO, and American Family for my 2003 Toyota Corolla and am saving around $70 a year. Left GMAC to switch. They were helpful in switching over.

  3. Merna Stein

    I live in a small town just outside of Hartford, CT. Received rates from Liberty Mutual, Auto-Owners, Mercury, and a couple others for my Corolla and I think I saved around $20 each month. They have free quotes online.

  4. Shawanda Huff

    If you’re a decent driver and are close to New Haven, CT, check out State Farm. They seem to be cheaper.

  5. Vernon Myers

    Will Allstate cancel if I have a claim?

  6. Deann Perry

    Anyone buy from AAA? I’m in Parkersburg, WV.

  7. Delinda Stout

    Any GEICO or Encompass customers near Salt Lake City, Utah?

  8. Shantell Hooper

    Enjoyed the article. Proud to be from Knoxville, TN. Don’t remember every company but I ended up saving about $20 each month. Get lots of quotes to find the best rate.

  9. Leigh Vaughan

    Cheaper car insurance is a myth. I live in a small town just outside of Virginia Beach, Virginia. I don’t recall every quote but I ended up saving about $30 each month. Left Amica to switch. Have an at-fault accident tho.

  10. Marinda Hebert

    I compared a lot of rate quotes for a 2003 Toyota Corolla in Indianapolis, Indiana. Ended up at darn near $120 every six months with AAA. Was with Progressive. Still almost need a second mortgage. I dropped full coverage awhile back.

  11. Chantelle Lindsay

    In Rio Rancho, NM, Amica had the best rates for my 2003 Toyota Corolla. Teenage drivers are expensive! They offer free online rate quotes.