2015 Toyota Prius Plug-in Insurance Cost – 8 Policy Discounts

Looking for lower insurance coverage rates for your Toyota Prius Plug-in? Are you regretting buying an overpriced insurance coverage policy? You’re in good company because you’re not the only one. Insurance companies such as Allstate and Progressive persitently shower you with fancy advertisements and it can be hard to see through the deception and take the time to shop coverage around.

Consumers should take time to compare rates before your next renewal because rates change frequently. Even if you got the best deal for Prius Plug-in coverage last year you can probably find a lower rate today. You can search a lot of insurance coverage online, but you can learn some of the best ways to slash your insurance coverage rates.

If you have a policy now or need a new policy, you can use these techniques to cut your premiums and still get good coverage. Choosing the best insurance company for you is not rocket science. Drivers only need an understanding of how to shop on the web.

More discounts mean cheap premiums

Auto insurance is neither fun to buy or cheap, but you can get discounts to cut the cost considerably. A few discounts will automatically apply when you purchase, but some must be manually applied prior to getting the savings.

• Home Ownership Discount – Simply owning a home can earn you a little savings since home ownership is proof that your finances are in order.
• Anti-lock Brakes – Cars and trucks that have steering control and anti-lock brakes can reduce accidents so companies give up to a 10% discount.
• Include Life Insurance and Save – Larger insurance companies have a break if you buy some life insurance too.
• More Vehicles More Savings – Buying a policy with multiple cars on a single policy may reduce the rate for each vehicle.
• Drivers Ed for Students – Cut your cost by having your teen driver successfully complete driver’s ed class as it can save substantially.
• Seat Belt Usage – Forcing all vehicle occupants to fasten their seat belts can save up to 15% on medical payment and PIP coverage.
• Membership in Organizations – Belonging to qualifying clubs or civic groups may earn a discount on your next renewal.
• Safety Course Discount – Taking a course teaching defensive driving skills can save you 5% or more if you qualify.

As a disclaimer on discounts, some of the credits will not apply the the whole policy. Most only reduce individual premiums such as medical payments or collision. So even though you would think you can get free auto insurance, companies don’t profit that way.

To choose auto insurance companies that offer discounts, follow this link.

It’s not one size fits all

When choosing proper insurance coverage, there isn’t really a “perfect” insurance plan. Your needs are not the same as everyone else’s and your policy should reflect that. For instance, these questions might point out if your insurance needs would benefit from an agent’s advice.

• What vehicles should carry emergency assistance coverage?
• Does having multiple vehicles earn me a discount?
• When would I need rental car insurance?
• Am I covered when driving a rental car?
• Will my vehicle be repaired with OEM or aftermarket parts?
• How do I insure my teen driver?
• I have health insurance so do I need medical payments coverage?
• Is motorclub coverage worth it?
• Can I afford to pay high deductible claims out of pocket?
• What is medical payments coverage?

If you’re not sure about those questions, you may need to chat with an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of insurance companies in your area. It’s fast, free and you can get the answers you need.

Don’t believe everything you hear

Consumers can’t escape the ads that claim the cheapest car insurance rates from the likes of Progressive, Allstate and Geico. All the ads tend to make the same promise that drivers will save a bundle just by switching your auto insurance coverage to their company.

Is it even possible that every company can charge lower premium rates? It’s all in the wording.

Insurance companies have underwriting criteria for the type of customer that is profitable for them. One example of a profitable customer could possibly be between 30 and 50, has no prior claims, and has excellent credit. Any driver that fits those parameters gets the lowest premium rates and will also save money with a new company.

Potential insureds who fall short of those standards will probably have to pay higher rates with the end result being business not being written. The trick companies use is to say “people who switch” not “everyone who quotes” save the amount stated. That is how insurance companies can make it sound like they have such great car insurance rates. Because of the profiling, it is so important to get price quotes at each policy renewal. It is impossible to guess the company that will be your best fit.

Insurance policy coverages for a Toyota Prius Plug-in

Knowing the specifics of a insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Listed below are typical coverage types found on the average insurance policy.

Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like X-ray expenses, surgery, chiropractic care, EMT expenses and hospital visits. They are used to fill the gap from your health insurance policy or if you do not have health coverage. It covers all vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage

Coverage for liability – Liability insurance protects you from damage or injury you incur to other people or property by causing an accident. This coverage protects you from legal claims by others, and doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage protects against claims like repair costs for stationary objects, funeral expenses, medical expenses, bail bonds and pain and suffering. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive protection – Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as damage from getting keyed, rock chips in glass, hitting a deer and vandalism. The highest amount your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

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 claims include medical payments for you and your occupants as well as damage to your Toyota Prius Plug-in.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.

Collision – Collision insurance pays for damage to your Prius Plug-in resulting from a collision with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things such as hitting a parking meter, damaging your car on a curb, colliding with another moving vehicle, scraping a guard rail and sustaining damage from a pot hole. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. It’s also possible to raise the deductible to bring the cost down.

Power to the consumer

We just covered a lot of techniques to compare 2015 Toyota Prius Plug-in insurance rates online. The key thing to remember is the more times you quote, the better your chances of lowering your auto insurance rates. Consumers could even find that the best rates are with an unexpected company. These companies can often provide lower auto insurance rates in certain areas than their larger competitors like Allstate and Progressive.

As you restructure your insurance plan, it’s not a good idea to reduce needed coverages to save money. There have been many cases where an accident victim reduced uninsured motorist or liability limits and learned later that the few dollars in savings costed them thousands. Your aim should be to buy enough coverage at the best price, not the least amount of coverage.

Other learning opportunities

• Teen Driving Statistics (iihs.org)
• A Tree Fell on Your Car: Now What? (Allstate)
• No-Fault Auto Insurance Statistics (Insurance Information Insitute)
• Determing Auto Insurance Rates (Geico)