Cheaper 2003 Toyota MR2 Spyder Insurance Cost

Searching for better auto insurance rates? Consumers have options when looking for the lowest priced Toyota MR2 Spyder insurance. You can either spend your time struggling with agents trying to get quotes or leverage the internet to make rate comparisons.

There are more efficient ways to buy auto insurance so you’re going to learn the best way to get price quotes for a new or used Toyota and get the lowest possible price from both online companies and local agents.

You need to get comparison quotes at least once a year because prices change quite often. Just because you had the best deal on MR2 Spyder coverage at your last renewal other companies may now be cheaper. Forget all the misinformation about auto insurance because you’re going to get a crash course in the best way to find better rates and still maintain coverage.

Compare quotes for insurance coverage

There are a lot of ways to compare insurance coverage prices but some are less labor-intensive and much quicker. You can waste a few hours (or days) driving to local insurance agents in your area, or you could save time and use the internet to get prices fast.

Most car insurance companies participate in a marketplace where prospective buyers complete one form, and at least one company can provide price quotes for coverage. This system prevents you from having to do form submissions to each individual insurance coverage company. To get comparison pricing now click here (opens in new window).

The only drawback to doing it this way is you cannot specify which companies to get pricing from. If you prefer to choose specific providers to request quotes from, we have a listing of low cost insurance coverage companies in your area. Click here to view list.

You can choose any of those ways to find more affodable coverage, but be certain you are entering exactly the same coverage limits on every price quote you get. If your comparisons have different liability limits you will not be able to determine the best price for your Toyota MR2 Spyder.

Save $428 a year. For real?

Consumers can’t get away from ads that claim the lowest rates from companies such as State Farm, Allstate and Geico. All the ads make the same claim about saving some big amount if you switch your car insurance policy to them.

How do they all save you money? It’s all in the words they use.

Companies provide the lowest rates for the type of driver that will be a good risk. An example of this type of insured may be between the ages of 30 and 50, has a low-risk occupation, and chooses high deductibles. A customer getting a price quote who matches that profile is entitled to the best price and most likely will save a lot if they switch.

Potential insureds who cannot meet this stringent profile must pay higher prices and this can result in the customer buying from a different company. If you pay close attention to the ads, they say “customers who switch” not “everybody who quotes” save that much. This is how insurance companies can confidently make the claims of big savings.

Because of this risk profiling, you really need to compare price quotes frequently. Because without a comparison, you cannot know with any certainty which company will have the lowest rates.

Smart consumers save every year

When buying insurance it’s important to understand some of the elements that help determine the rates you pay for insurance. When consumers understand what positively or negatively impacts your premiums, this helps enable you to make changes that may result in lower premium levels.

• Insurance rates for married couples – Your spouse may save some money on your insurance bill. It usually means you are less irresponsible and insurance companies like that drivers who are married are more cautious.
• Poor credit can mean higher rates – A driver’s credit score will be a significant factor in determining what you pay. If your credit rating is not that good, you may save money insuring your 2003 Toyota MR2 Spyder if you clean up your credit. Consumers who have very good credit scores tend to file fewer claims as compared to drivers with lower ratings.
• Teenagers vs. older drivers – Older people are proven to be safer behind the wheel, file fewer claims .Youthful drivers are statistically shown to be easily distracted when behind the wheel so insurance rates are higher.
• Companies want multiple policies – The majority of insurance companies provide better rates to clients who buy several policies from them. It’s known as a multi-policy discount. Even if you qualify for this discount already, it’s still a good idea to check prices from other companies to help ensure you have the lowest rates.
• Deter car thieves – Buying a car with anti-theft technology or alarm system can help lower your rates. Systems that thwart theives such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder your car from being stolen.
• An active claims history can increase rates – If you tend to file frequent claims, you can look forward to increased rates or even have your policy non-renewed. Car insurance companies provide the lowest premiums to policyholders who are not frequent claim filers. Your car insurance is meant to be used in the event of claims that pose a financial burden.
• How much liability insurance – Liability coverage kicks in if ever a court rules you are at fault for damages caused by your negligence. Your policy’s liability insurance provides for a legal defense which can be incredibly expensive. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so insureds should have plenty of protection for their assets.
• Safety first – Cars with five star safety ratings are cheaper to insure. These vehicles result in less severe injuries and lower injury rates translates into fewer and smaller insurance claims and cheaper rates on your policy.

Lower rate quotes with these auto insurance discounts

Car insurance companies do not advertise every disount available very clearly, so the list below contains a few of the more common in addition to some of the lesser obvious credits available to you.

• Multi-line Discount – Select auto insurance companies reward you with a lower auto insurance rate if you buy life insurance from them.
• Discounts for Cautious Drivers – Drivers who avoid accidents could pay up to 40% less on MR2 Spyder coverage than their less cautious counterparts.
• College Student – Youth drivers who are enrolled in a college that is more than 100 miles from home and do not have access to a covered vehicle may qualify for this discount.
• Pay Early and Save – If you can afford to pay the entire bill instead of paying each month you can avoid the installment charge.
• New Car Discount – Putting insurance on a new car can be considerably cheaper because newer vehicles are generally safer.
• Accident Forgiveness Coverage – Not necessarily a discount, but a few companies such as Allstate and Geico will allow you to have one accident without raising rates so long as you are claim-free for a particular time prior to the accident.
• Military Deployment Discount – Being on active deployment in the military could qualify you for better prices.
• Early Signing – A few larger companies offer discounts for switching policies prior to the expiration date on your current policy. It can save you around 10%.
• Discount for Low Mileage – Driving fewer miles could earn slightly better prices than normal.
• Air Bags and Passive Restraints – Factory air bags and/or automatic seat belt systems could see savings of 20% or more.

Don’t be shocked that some credits don’t apply to all coverage premiums. Some only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Even though the math looks like you can get free auto insurance, it’s just not the way it works.

If you would like to see a list of companies that provide some of the discounts listed above, follow this link.

Auto insurance can get complicated

When it comes to buying coverage for your personal vehicles, there isn’t really a cookie cutter policy. Coverage needs to be tailored to your specific needs.

For example, these questions can help discover whether or not you would benefit from professional advice.

• Should I get collision insurance on every vehicle?
• Am I covered when using my vehicle for business?
• Is pleasure use cheaper than using my 2003 Toyota MR2 Spyder to commute?
• When should I buy a commercial auto policy?
• Why do I need rental car insurance?
• Am I covered when driving a rental car?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete this short form. It only takes a few minutes and you can get the answers you need.

Insurance coverage options for a Toyota MR2 Spyder

Knowing the specifics of your insurance policy can be of help when determining which coverages you need and proper limits and deductibles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.

Uninsured or underinsured coverage

This gives you protection when other motorists either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Toyota MR2 Spyder.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Normally the UM/UIM limits do not exceed the liability coverage limits.

Medical expense coverage

Medical payments and Personal Injury Protection insurance pay for expenses for chiropractic care, X-ray expenses, doctor visits and rehabilitation expenses. They are used in conjunction with a health insurance plan or if you do not have health coverage. It covers all vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Auto liability insurance

This provides protection from damage that occurs to other’s property or people. It protects you against claims from other people, and does not provide coverage for 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. You commonly see liability limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property. Occasionally you may see a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage protects against claims like medical services, medical expenses, pain and suffering and loss of income. How much liability should you purchase? That is a personal decision, but buy as high a limit as you can afford.

Comprehensive protection

Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things such as fire damage, vandalism, damage from a tornado or hurricane and hail damage. The highest amount your insurance company will pay is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Collision protection

This pays to fix your vehicle from damage caused by collision with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things such as crashing into a building, hitting a mailbox, backing into a parked car and scraping a guard rail. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. It’s also possible to choose a higher deductible to bring the cost down.

Shop around and save

Insureds leave their current company for many reasons like extreme rates for teen drivers, policy cancellation, an unsatisfactory settlement offer or policy non-renewal. Regardless of your reason for switching companies, switching companies can be easier than you think.

When shopping online for car insurance, do not reduce needed coverages to save money. There are too many instances where consumers will sacrifice full coverage and learned later that they should have had better coverage. The aim is to purchase a proper amount of coverage at a price you can afford, but do not skimp to save money.

We just covered a lot of techniques to compare 2003 Toyota MR2 Spyder insurance prices online. The key thing to remember is the more you quote car insurance, the higher your chance of finding cheaper car insurance. You may be surprised to find that the best prices are with a lesser-known regional company.

More detailed car insurance information is available in the articles below:

• Eight Auto Insurance Myths (Insurance Information Insitute)
• Distracted Driving (Insurance Information Insitute)
• Should I Buy a New or Used Car? (Allstate)
• Get the Right Protection (InsureUonline.org)