Lower Your 2016 Toyota Camry Insurance Rates

Did you fall for a flashy sales pitch and buy an expensive car insurance policy? You’re in good company because many consumers feel financially strained by their car insurance policy. Insurance companies such as Progressive, State Farm and GEICO increase brand awareness with advertising and it is challenging if not impossible to ignore the flashy ads and effectively compare rates to find the best deal.

If you have a current car insurance policy or need new coverage, you can use these techniques to find the best rates while maximizing coverage. Choosing the best insurance company for you is easy if you know what you’re doing. Drivers only need an understanding of the proper way to buy car insurance online.

Insurance policy discounts you can’t miss

Some insurers do not list all possible discounts in a way that’s easy to find, so the following list contains a few of the more well known in addition to some of the lesser obvious credits available to lower your premiums when you buy insurance online.

  • Defensive Driver Discount – Completing a defensive driver course could save 5% or more depending on where you live.
  • Theft Deterent Discount – Cars equipped with tracking devices and advanced anti-theft systems prevent vehicle theft and therefore earn up to a 10% discount.
  • College Student Discount – Youth drivers who live away from home to go to college and do not have a car could get you a discount.
  • Payment Method – If you pay your bill all at once rather than paying monthly you can avoid the installment charge.
  • Low Mileage Discounts – Driving fewer miles may enable drivers to earn cheaper insurancerates.

Consumers should know that most of the big mark downs will not be given the the whole policy. Some only apply to specific coverage prices like comp or med pay. If you do the math and it seems like having all the discounts means you get insurance for free, you won’t be that lucky.

A partial list of companies that possibly offer these money-saving discounts include:

Before you buy a policy, ask every insurance company which discounts you qualify for. All car insurance discounts might not apply in your area.

The Toyota Camry insurance price equation

One of the most helpful ways to save on insurance coverage is to to have a grasp of the rating factors that help determine your premiums. When you understand what determines premiums, this empowers consumers to make smart changes that may reward you with lower premium levels. Many different elements are used in the calculation when you get a price on insurance. A few of the factors are predictable such as your driving record, although others are more obscure like where you live or your vehicle rating.

The list below includes just a few of the factors used by companies to determine your prices.

  • Where you call home is a factor – Living in areas with lower population can save you money when talking about insurance coverage. Fewer people corresponds to lower accident rates as well as less vandalism and auto theft. Drivers who live in large cities have to deal with congested traffic and more time behind the wheel. The longer drive time can result in more accidents.
  • Vehicles with better crash test results save money – Vehicles with high crash test scores tend to have lower insurance rates. Highly rated vehicles have better occupant injury protection and better occupant protection means less claims paid and lower rates for you.
  • Annual miles is a factor – The higher the miles on your Toyota each year the more you’ll pay to insure your vehicle. Many insurance companies charge rates determined by how the vehicle is used. Autos that do not get driven very much qualify for better rates than vehicles that have high annual mileage. Verify your insurance coverage declarations sheet reflects the correct usage for each vehicle, because improper ratings can cost you money. An improperly rated Camry may be costing you higher rates.
  • Better rates for uninterrupted coverage – Allowing your insurance coverage policy to lapse is a guaranteed way to increase your renewal premiums. Not only will you pay higher rates, not being able to provide proof of insurance might get you a steep fine or even jail time.

Insurance agents can help

When choosing adequate coverage for your vehicles, there really is no perfect coverage plan. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. These are some specific questions can help discover whether you might need professional guidance.

  • Am I covered if my car is in a flood?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • What are the financial responsibility laws in my state?
  • Can I afford to pay high deductible claims out of pocket?
  • What discounts do I qualify for?
  • Do I really need UM/UIM coverage?
  • Is other people’s property covered if stolen from my vehicle?

If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier It’s fast, free and may give you better protection.

Auto insurance companies are expert advertisers

Consumers can’t get away from all the ads that promise big savings by companies like Allstate, GEICO and Progressive. All the ads advertise the message of big savings just by switching your auto insurance policy to them.

But how can every company say the same thing? It’s all in how they say it.

Many companies can use profiling for the type of insured that will add to their bottom line. An example of this type of driver might be over the age of 35, has no tickets, and drives a vehicle with a low ISO rating. Someone who fits that profile will qualify for the lowest rates and therefore will cut their rates substantially.

People who do not fit those criteria will have to pay a higher premium and this results in the customer buying from a different company. The ad wording is “drivers that switch” not “everybody who quotes” save that much. This is how companies can truthfully claim big savings. Because each company has a different risk profile, you really need to do a rate comparison at every renewal. It’s not possible to predict which insurance companies will fit your personal profile best.

Coverages available on your insurance policy

Learning about specific coverages of your insurance policy aids in choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. These are the normal coverages found on most insurance policies.

Auto liability insurance – Liability insurance will cover injuries or damage you cause to other’s property or people by causing an accident. This coverage protects you against claims from other people, and does not provide coverage for damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 50/100/50 which means a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.

Liability insurance covers claims such as legal defense fees, structural damage, bail bonds and emergency aid. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision coverages – This covers damage to your Camry resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers claims such as crashing into a building, hitting a parking meter, backing into a parked car and rolling your car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. You can also raise the deductible to save money on collision insurance.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Toyota Camry.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Comprehensive coverage – Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as damage from getting keyed, theft, rock chips in glass and hitting a deer. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses for things like nursing services, rehabilitation expenses, chiropractic care and dental work. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. It covers all vehicle occupants as well as if you are hit as a while walking down the street. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

Knowledge is power

In this article, we presented quite a bit of information on how to compare 2016 Toyota Camry insurance prices online. The key concept to understand is the more companies you get rates for, the higher your chance of finding cheaper insurance. Consumers may even find the biggest savings come from a company that doesn’t do a lot of advertising. They may cover specific market segments cheaper than their larger competitors like Progressive and GEICO.

When buying insurance coverage, it’s very important that you do not skimp on coverage in order to save money. There are many occasions where someone dropped liability coverage limits and found out when filing a claim they didn’t have enough coverage. Your goal should be to find the BEST coverage at the best price, but do not skimp to save money.

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Comments About 2016 Toyota Camry Insurance

  1. Lesia Dickerson

    Just a quick comment on my experience. From a town just southwest of Nashville, TN. I got free rates from Progressive, Amica, and some I forget for my Camry and I’m now saving $17 a month.

  2. Fumiko Wheeler

    I can’t pay high rates. I’m just west of Charlotte, North Carolina. I got free prices from USAA, Amica, The General, and MetLife for my Toyota and saved just over $280 a year.

  3. Antoine Everett

    Does Progressive offer new car replacement?

  4. Debby Dudley

    This is too expensive. I’m in the suburbs of Juneau, AK. Got quotes from Auto-Owners, Nationwide, and some smaller one I can’t remember the name of for my Toyota and saved $392 a year.

  5. Laureen Nunez

    From northwest of San Jose, CA. Got rates from Amica, Mercury, and a few others for my Toyota and saved just over $260 a year.

  6. Mose Fuller

    Cheaper car insurance is a myth. I live just outside Henderson, NV. Not sure of all the companies but I ended up saving about $40 each month. I quoted rates online then called them.

  7. Reinaldo Kinney

    I can’t pay high rates. Live in Charlotte, North Carolina. I compared lots of rates. Saved right around $50 a month. Progressive was the best choice for me.

  8. Herlinda Conner

    Corporate greed I’m telling you. I live just to the south of Rapid City, SD. I quoted with Amica, Nationwide, and a few others for my 2016 Toyota Camry and I’m now saving $40 a month. Insured with Sentry before. My new agent seems to be really good. It was easy to get rates.

  9. Kaitlin Acevedo

    It all costs too much. From Atlanta, GA. Got prices from Amica, Sentry, and Travelers for my 2016 Toyota Camry and cut my rates about $260 a year. Left Travelers to switch. I increased coverages a little too.

  10. Carmella Barrera

    I compared a lot of rate quotes for a 2016 Toyota Camry in Henderson, NV. Ended up at about $490 every six months with American Family. Left Allstate to switch. LOL

  11. Danita Owen

    Anyone buy from AAA? I’m in Louisville, KY.

  12. Florentino Estes

    Hope my car insurance gets cheaper. Got a quote with Progressive for my 2016 Toyota Camry and saved about $220 a year. Just waiting to see how claims go.

  13. Fernando Davenport

    Why are claims settled so low?