How Much Does 2008 Toyota Corolla Insurance Cost?

Car owners new to comparing insurance coverage rates online will discover purchasing low cost insurance is nearly impossible.

It’s important to compare rates before your next renewal because auto insurance rates fluctuate regularly. Despite the fact that you may have had the lowest rate on Corolla coverage a year ago you may be paying too much now. Forget anything you know (or think you know) about auto insurance because you’re about to learn the best way to reduce your cost while increasing coverage.

More discounts mean cheap premiums

Insurance can be prohibitively expensive, but there could be available discounts to help bring down the price. Many of these discounts will be applied automatically when you quote, but some discounts are required to be inquired about before you will receive the discount. If you are not receiving all the discounts possible, you are throwing money away.

• Multi-line Discount – Not every insurance company offers life insurance, but if they do you may earn a discounted premium rate on car insurance if you buy some life insurance too.
• Senior Citizen Discount – If you’re over the age of 55, you may be able to get reduced rates on Corolla coverage.
• Theft Deterent – Vehicles optioned with advanced anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
• Sign Early and Save – Select auto insurance companies give a discount for renewing your policy prior to the expiration date on your current policy. Ten percent is about the average savings.
• ABS Brakes – Cars, trucks, and SUVs with ABS braking systems or traction control prevent accidents and will save you 10% or more.
• Safety Restraint Discount – Drivers who always wear seat belts and also require passengers to wear their seat belts could cut 10% or more on the premium charged for medical payments and/or PIP.
• Telematics Data Discounts – Drivers who elect to allow driving data collection to spy on when and where they use their vehicle by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could save a few bucks as long as they are good drivers.
• Pay Early and Save – If you pay your entire premium ahead of time instead of monthly or quarterly installments you can actually save on your bill.
• Drivers Ed for Students – It’s a good idea to have your young drivers take driver’s ed class if it’s offered in school.

A little note about advertised discounts, some of the credits will not apply the the whole policy. A few only apply to the price of certain insurance coverages like liability and collision coverage. Even though it may seem like all those discounts means the company will pay you, it doesn’t quite work that way.

Companies and some of their more popular discounts are included below.

• State Farm may offer discounts for driver’s education, Steer Clear safe driver discount, anti-theft, good student, passive restraint, and student away at school.
• Geico offers discounts for air bags, membership and employees, daytime running lights, multi-policy, and anti-theft.
• Liberty Mutual has savings for multi-car, preferred payment discount, teen driver discount, newly retired, and exclusive group savings.
• The Hartford offers premium reductions for anti-theft, good student, air bag, bundle, driver training, and vehicle fuel type.
• MetLife policyholders can earn discounts including claim-free, defensive driver, good driver, multi-policy, and accident-free.
• Progressive has discounts for homeowner, multi-policy, multi-vehicle, good student, online signing, and continuous coverage.

If you need cheap insurance quotes, ask each insurance company which discounts you qualify for. Savings might not be offered in your area. To find insurers that have a full spectrum of discounts, click this link.

How to compare free insurance quotes

When shopping for the cheapest insurance quotes, there are a couple of ways to compare prices from different insurance companies. The quickest method to find affordable 2008 Toyota Corolla insurance rates is simply to get online rate quotes. It is quite easy and can be accomplished in a couple of different ways.

Without a doubt, the easiest way consumers can make multiple comparisons is an all-inclusive rate comparison click here to open form in new window. This type of form eliminates the need for separate quotes for each company you want a rate for. Taking the time to complete one form compares rates from insurance companies with the best prices. It’s the fastest way to compare.

A different way to analyze rates requires visiting each company’s website and get a separate price quote. For instance, let’s assume you are doing a rate comparison from Geico, Progressive and State Farm. In order to get each rate, you would have to navigate to each company’s site and repeatedly type in your coverage information, which can take a lot of time. To view a list of companies in your area, click here.

The least efficient and most time consuming way to shop rates is to drive around to insurance agents’ offices. Shopping for insurance online eliminates the middleman unless you want the professional advice that only an agent can give. However, consumers can comparison shop your insurance online but buy from a local insurance agent.

Whichever way you choose to compare rates, be sure to compare equivalent coverages with every price quote. If the quotes have different deductibles it’s not possible to make a fair rate comparison. Even a minor difference in coverages can mean a large discrepancy in price. And when comparing insurance rates, know that comparing more rates from different companies helps locate more affordable rates.

It’s not one size fits all

When choosing proper insurance coverage, there really is not a cookie cutter policy. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that can aid in determining if your situation could use an agent’s help.

• Is a blown tire covered by insurance?
• Can my teen drive my company car?
• Should I drop comprehensive coverage on older vehicles?
• Do I need higher collision deductibles?
• What should my uninsured motorist coverage limits be in my state?
• How much liability insurance is required?

If you can’t answer these questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form.

Insurance coverage considerations

Learning about specific coverages of your policy can be of help when determining the best coverages at the best deductibles and correct limits. Insurance terms can be impossible to understand and reading a policy is terribly boring.

Medical costs insurance

Medical payments and Personal Injury Protection insurance pay for bills for EMT expenses, doctor visits, pain medications, ambulance fees and chiropractic care. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Coverage for liability

Liability insurance will cover injuries or damage you cause to people or other property. It protects you against claims from other people. Liability doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 that means you have a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Occasionally you may see one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability insurance covers things such as attorney fees, loss of income, pain and suffering and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

Comprehensive or Other Than Collision

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as hitting a bird, theft and a broken windshield. The maximum payout your insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Coverage for collisions

Collision insurance will pay to fix damage to your Corolla resulting from a collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as damaging your car on a curb, backing into a parked car, hitting a mailbox, scraping a guard rail and crashing into a building. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Another option is to choose a higher deductible to save money on collision insurance.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they do not carry enough liability coverage. 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. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Frequently the UM/UIM limits are identical to your policy’s liability coverage.

A penny earned…

Budget-conscious 2008 Toyota Corolla insurance can be sourced both online as well as from independent agents, so get free insurance quotes from both of them to get a complete price analysis. Some insurance companies may not have the ability to get quotes online and most of the time these regional carriers prefer to sell through independent agents.

People who switch companies do it for any number of reasons including poor customer service, questionable increases in premium, lack of trust in their agent and even high rates after DUI convictions. Whatever your reason, switching insurance coverage companies can be easy and end up saving you some money.

When getting insurance quotes online, it’s very important that you do not sacrifice coverage to reduce premiums. There are a lot of situations where drivers have reduced liability coverage limits and learned later that their decision to reduce coverage ended up costing them more. Your objective should be to purchase a proper amount of coverage at the lowest possible cost, but don’t skip important coverages to save money.

Helpful learning opportunities

• Protect Yourself Against Auto Theft (Insurance Information Insitute)
• Who Has Cheap Car Insurance for a Toyota Corolla in Stockton? (QuoteStockton.com)
• Who Has Cheap Auto Insurance Quotes for a Toyota Corolla in Los Angeles? (LosAngelesCoverage.com)
• Tread Depth and Tire Safety (State Farm)
• Teen Driving Statistics (iihs.org)
• Event Data Recorders FAQ (iihs.org)