2004 Toyota Prius Car Insurance Cost – 8 Ideas for Cheapest Prices

Searching for cheaper insurance for a new or used Toyota Prius can normally be an all-consuming task, but you can use our insurance buying tips to make it easier.

There is a better way to buy insurance so we’re going to tell you the absolute fastest way to quote coverages for your Toyota and locate the cheapest rates from local insurance agents and online providers.

You should make it a habit to shop coverage around once or twice a year because prices are usually higher with each renewal. Despite the fact that you may have had the lowest rates for Prius insurance two years ago you can probably find a better premium rate now. Ignore everything you know about insurance because it’s time to teach you how to use the internet to save money, get proper coverage and the best rates.

How to compare free insurance quotes

Reducing your 2004 Toyota Prius insurance rates isn’t really that difficult. The only requirement is to take time to compare rate quotes online with multiple companies. Price comparisons can be done by following the guidelines below.

  1. The most recommended method to compare a lot of rates at once is an all-inclusive rate comparison like this one (opens in new window). This form prevents you from having to do separate forms for every prospective company. Completing one form gets you price quotes from insurance companies with the best prices. It’s definitely the quickest method.
  2. A more difficult way to compare prices requires visiting each company’s website and repeat the quote process. For sake of this example, we’ll assume you want to view quotes from Progressive, GEICO and American Family. You would be required to visit each site to enter the same coverage data repeatedly, and that’s why the first method is more popular. To view a list of companies in your area, click here.
  3. The most time-consuming method to quote and compare insurance rates is going to each insurance agency near you. The fact that you can get quotes online has reduced the need for local agents unless you prefer the extra assistance only provided by licensed agents. Drivers can get the lowest quotes online but buy the policy through an agent.

Compare rates however you want, just double check that you are using exactly the same coverage limits and deductibles on every quote. If you have different coverage information it will be nearly impossible to determine the best price for your Toyota Prius.

Save a ton with these eight discounts

Auto insurance companies don’t always publicize all available discounts very clearly, so the list below gives a summary of both well-publicized and the more hidden credits available to lower your premiums when you buy car insurance online.

  • Discount for Life Insurance – If the company offers life insurance, you could get a discount if you purchase a life insurance policy as well.
  • Military Discounts – Being deployed in the military may qualify for rate reductions.
  • Data Collection Discounts – Drivers who elect to allow their insurance coverage company to scrutinize where and when they drive remotely such as State Farm’s In-Drive may get a rate reduction if they show good driving skills.
  • Low Mileage – Low mileage vehicles may enable drivers to earn cheaper insurance coveragerates.
  • Good Student Discount – Excelling in school may save you up to 25%. Earning this discount can benefit you until age 25.
  • Seat Belts Save – Drivers who always wear seat belts and also require passengers to buckle their seat belts could cut 10% or more off the personal injury premium cost.
  • Anti-theft Discount – Anti-theft and alarm system equipped vehicles help deter theft and that can save you a little bit as well.
  • Claim-Free Discount – Drivers who don’t have accidents can earn big discounts when compared with bad drivers.

You can save money using discounts, but some of the credits will not apply to the entire policy premium. Some only apply to individual premiums such as liability, collision or medical payments. Even though it appears it’s possible to get free car insurance, companies wouldn’t make money that way.

Large insurance coverage companies and a partial list of their discounts are shown below.

  • GEICO may have discounts that include anti-theft, good student, five-year accident-free, daytime running lights, and defensive driver.
  • MetLife may include discounts for multi-policy, accident-free, good student, defensive driver, claim-free, and good driver.
  • State Farm offers discounts for multiple autos, multiple policy, good driver, safe vehicle, Steer Clear safe driver discount, and defensive driving training.
  • Progressive may offer discounts for online quote discount, multi-vehicle, multi-policy, homeowner, continuous coverage, and online signing.
  • Mercury Insurance policyholders can earn discounts including professional/association, anti-theft, accident-free, age of vehicle, and type of vehicle.
  • 21st Century discounts include homeowners, early bird, theft prevention, good student, and defensive driver.
  • Allstate has discounts for auto/life discount, multi-policy, passive restraint, 55 and retired, premier discount, premier plus, and utility vehicle.

If you want low cost car insurance quotes, ask each company or agent which credits you are entitled to. Discounts might not apply in your state. To view companies who offer cheap insurance coverage quotes, click this link.

Auto insurance can be complex

When choosing coverage for your vehicles, there isn’t really a best way to insure your cars. Everyone’s situation is unique.

These are some specific questions may help you determine if your situation would benefit from professional advice.

  • How much liability do I need to cover my assets?
  • When would I need additional glass coverage?
  • Is my babysitter covered when using my vehicle?
  • Are my tools covered if they get stolen from my vehicle?
  • Can my teen driver be rated on a liability-only vehicle?
  • Does my car insurance cover rental cars?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Does my 2004 Toyota Prius need full coverage?
  • Is my teen driver covered when they drive my company car?

If you don’t know the answers to these questions but you think they might apply to your situation, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, free and may give you better protection.

Car insurance coverage breakdown

Having a good grasp of your policy aids in choosing appropriate coverage and proper limits and deductibles. Car insurance terms can be difficult to understand and even agents have difficulty translating policy wording.

Medical expense coverage

Medical payments and Personal Injury Protection insurance reimburse you for expenses such as prosthetic devices, X-ray expenses, pain medications and doctor visits. They can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants as well as any family member struck as a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Collision insurance

Collision coverage covers damage to your Prius from colliding with another car or object. A deductible applies then your collision coverage will kick in.

Collision coverage pays for things like backing into a parked car, sustaining damage from a pot hole and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to increase the deductible to get cheaper collision coverage.

Liability coverage

This provides protection from damages or injuries you inflict on people or other property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 50/100/50 which means a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit and claims can be made without the split limit restrictions.

Liability insurance covers things like medical expenses, legal defense fees, pain and suffering and bail bonds. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase higher limits if possible.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Comprehensive protection

Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as damage from getting keyed, hitting a deer and theft. The most you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Final considerations

Throughout this article, we presented a lot of techniques to lower your 2004 Toyota Prius insurance premium rates. The most important thing to understand is the more companies you get prices for, the higher your chance of finding the cheapest car insurance. You may be surprised to find that the best price on insurance coverage is with a small mutual company.

More affordable insurance coverage can be purchased on the web in addition to many insurance agents, so you should be comparing quotes from both to get a complete price analysis. A few companies don’t offer online price quotes and these small insurance companies provide coverage only through local independent agents.

Consumers who switch companies do it for any number of reasons including delays in responding to claim requests, delays in paying claims, unfair underwriting practices and being labeled a high risk driver. No matter why you want to switch, finding a new company can be less work than you think.

More detailed insurance coverage information can be read by following these links:

Comments About 2004 Toyota Prius Insurance

  1. Gwendolyn Hinton

    Not sure if this is cheap. Checking in from Idaho Falls, ID. Don’t remember every company but I ended up saving about $30 each month. Insured with Hanover before. Next renewal I’ll just do liability.

  2. Tyler Dawson

    Does Progressive use ACV or replacement cost?

  3. Margo Armstrong

    Not sure if this is cheap. I’m in the south part of Omaha, NE. Not sure of all the companies but I ended up saving about $30 each month. Moved home policy as well. Not worth enough to pay for comprehensive and collision.

  4. Nu Hardy

    It all costs too much. Located in Warren, Michigan. Got prices from Allstate, AAA, and Erie for my Toyota and I think I cut my rates about $30 each month. They have a lot of discounts available. They have free quotes online. Book value doesn’t justify full coverage anymore.

  5. Rosella Park

    Just a quick comment on my experience. Went with Erie for my 2004 Toyota Prius and saved around $90 a year. They have a lot of discounts available. Book value doesn’t justify full coverage anymore.

  6. Alexia Maynard

    I’m in Greensboro, NC, and 21st Century rates were affordable. Still almost need a second mortgage.

  7. Debbi Mays

    Will 21st Century cancel my policy for a liability claim?

  8. Beverly Camacho

    It all costs too much. Found cheapest coverage with American Family for my Prius and saved about $110 a year. Only insure liability on my Prius.

  9. Elden Horton

    Does State Farm have good claim service?

  10. Jerry Bradshaw

    I live north of Henderson, Nevada. I quoted with Progressive, Farmers, and The General for my 2004 Toyota Prius and saved $79 a year.

  11. Ryann Petersen

    I live just to the east of Eugene, OR. Quoted prices online for a 2004 Toyota Prius. Ended up at about $110 savings annually. Went with Progressive. Left Erie to switch. I don’t insure for physical damage though.

  12. Shira Koch

    I found cheap 2004 Toyota Prius insurance in Saint Paul, Minnesota with State Farm.

  13. Kayce Stevenson

    Hope my car insurance gets cheaper. I’m in the suburbs of Lexington, KY. Quoted prices online for a 2004 Toyota Prius. Ended up at about $90 savings annually. Went with State Farm. I increased coverages a little too. I just carry liability insurance.

  14. Lashay Baxter

    Located in Nampa, Idaho. Quoted with Allstate, Auto-Owners, Eastwood, and Hartford for my Prius and saved just over $110 a year. I have a teen driver too.

  15. Abel Lawrence

    I got a good deal I think. I live just outside Owensboro, KY. Compared quite a few companies. Saved roughly $20 a month. Progressive was the cheapest for me. Are quotes cheaper online? Liability only on my Toyota.