2014 Toyota Prius Insurance Rates – 6 Tips for Cheaper Quotes

Buyers have options when searching for the lowest priced Toyota Prius insurance. They can either waste time driving around to compare prices or leverage the internet to compare rates.

There is a better way to compare car insurance rates so we’re going to tell you the absolute fastest way to compare rates on a Toyota and get the best price possible from local insurance agents and online providers.

Lower-cost insurance coverage rates with discounts

Car insurance companies do not advertise every policy discount in an easy-to-find place, so we researched a few of the more common and also the more inconspicuous savings tricks you should be using when you buy insurance online.

• No Claims – Good drivers with no accidents can earn big discounts as opposed to drivers with a long claim history.
• Theft Deterent – Cars, trucks, and SUVs with anti-theft systems help deter theft and can earn a small discount on your policy.
• Good Student Discount – Maintaining excellent grades can earn a discount of 20% or more. You can use this discount normally until age 25.
• Onboard Data Collection – Drivers who elect to allow their company to analyze driving habits by using a telematics device like Allstate’s Drivewise could see a rate decrease as long as they are good drivers.
• Drive Safe and Save – Accident-free drivers may receive a discount up to 45% on Prius insurance than less cautious drivers.
• Seat Belts Save – Requiring all passengers to buckle up may be able to save a few bucks off PIP or medical payments premium.

While discounts sound great, it’s important to understand that most discount credits are not given to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like all the discounts add up to a free policy, it’s just not the way it works.

Larger insurance coverage companies and a summarized list of policyholder discounts are:

• Geico may offer discounts for daytime running lights, anti-lock brakes, military active duty, anti-theft, and air bags.
• Mercury Insurance policyholders can earn discounts including multi-car, ease of repair, age of vehicle, good driver, professional/association, multi-policy, and low natural disaster claims.
• Farmers Insurance discounts include switch companies, bundle discounts, mature driver, good student, and electronic funds transfer.
• Auto-Owners Insurance has discounts for multiple vehicles, air bags, anti-theft, group or association, multi-policy, and teen driver.
• Liberty Mutual has savings for multi-car, hybrid vehicle, new move discount, newly retired, and good student.
• SAFECO offers discounts including homeowner, drive less, teen safety rewards, multi-car, and anti-lock brakes.
• Progressive offers discounts for continuous coverage, homeowner, online quote discount, good student, multi-vehicle, online signing, and multi-policy.
• USAA may include discounts for family discount, driver training, loyalty savings, vehicle storage, military installation, and safe driver.

Check with each company how many discounts you can get. A few discounts may not be offered everywhere.

Tailor your auto insurance coverage to you

When choosing proper insurance coverage, there really is no cookie cutter policy. Each situation is unique.

Here are some questions about coverages that might help in determining whether you would benefit from an agent’s advice.

• Why do I only qualify for high-risk insurance?
• What is the minimum liability in my state?
• Can my teen driver be rated on a liability-only vehicle?
• If my pet gets injured in an accident are they covered?
• What can I do if my company won’t pay a claim?
• Should I have combined single limit or split liability limits?
• Does having multiple vehicles earn me a discount?
• Am I covered when driving on a suspended license?
• Will my insurance pay for OEM parts?

If it’s difficult to answer those questions but you know they apply to you, you may need to chat with an insurance agent. If you want to speak to an agent in your area, take a second and complete this form. It only takes a few minutes and may give you better protection.

Specific coverages for a 2014 Toyota Prius

Learning about specific coverages of a car insurance policy can be of help when determining which coverages you need and proper limits and deductibles. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Comprehensive or Other Than Collision

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage protects against claims such as vandalism, rock chips in glass and falling objects. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

UM/UIM Coverage

This protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Toyota Prius.

Since many drivers only carry the minimum required liability limits, 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.

Collision coverage

This will pay to fix damage to your Prius resulting from a collision with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against things like damaging your car on a curb, sideswiping another vehicle, colliding with another moving vehicle and rolling your car. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.

Auto liability

This coverage provides protection from injuries or damage you cause to other’s property or people. It protects YOU from legal claims by others. It does not cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 25/50/25 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property. Another option is one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability insurance covers things like loss of income, legal defense fees, medical services and pain and suffering. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase as much as you can afford.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses like doctor visits, prosthetic devices and chiropractic care. They are often used to fill the gap from your health insurance plan or if there is no health insurance coverage. It covers you and your occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

A tidy conclusion

In this article, we presented some good ideas how you can lower your 2014 Toyota Prius insurance rates. The key thing to remember is the more companies you get car insurance rates for, the better your comparison will be. You may be surprised to find that the best rates are with a small local company.

Drivers switch companies for many reasons like being labeled a high risk driver, an unsatisfactory settlement offer, not issuing a premium refund and even high prices. Regardless of your reason, choosing a new insurance company is easier than you think.

As you restructure your insurance plan, do not reduce coverage to reduce premium. There are a lot of situations where drivers have reduced liability limits or collision coverage only to find out they didn’t purchase enough coverage. The aim is to find the BEST coverage at the lowest possible cost.

To read more, take a look at these articles:

• Choosing a Car for Your Teen (State Farm)
• When is the Right Time to Switch Car Insurance Companies? (Allstate)
• How to Avoid Common Accidents (State Farm)
• State Car Insurance Guides (Geico)
• Should I Buy a New or Used Car? (Allstate)