Cheap 2016 Toyota Corolla Car Insurance Cost

Having to pay for pricey insurance coverage can stress out your bank account and put the squeeze on your family’s finances. Comparison shopping is recommended to lower your monthly bill.

Popular companies such as Allstate, Liberty Mutual and State Farm promote their brand names with ad campaigns and it can be hard to ignore the propoganda and find the best price available.

It’s a great practice to price shop coverage occasionally since prices are adjusted regularly by insurance companies. Even if you got the best rates for Corolla insurance on your last policy a different company probably has better rate quotes today. You can search a lot of insurance coverage online, but we’re going to give you some of the best ways to slash your insurance coverage rates.

If you have insurance now or are just looking to switch companies, you can use this information to reduce the price you pay while maximizing coverage. Buying car insurance is not rocket science. Vehicle owners just need to know the tricks to buy car insurance online.

How insurance providers calculate Toyota Corolla insurance rates

Many different elements are considered when you quote your car insurance policy. Some of the criteria are obvious such as traffic violations, but other factors are less apparent such as your marital status or your commute time.It’s important that you understand some of the factors that come into play when calculating your policy premiums. If you know what controls the rates you pay, this enables informed choices that may reward you with cheaper rates.

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

  • A good credit rating can save money – Credit score will be a significant factor in your rate calculation. Insureds that have high credit ratings tend to be better drivers and file fewer claims as compared to drivers with lower ratings. If your credit history could use some work, you could save money insuring your 2016 Toyota Corolla by taking the time to improve your credit score.
  • Teen drivers pay higher prices – Drivers with little experience are statistically proven to be easily distracted when behind the wheel and because of this, their auto insurance rates are much higher. If you’ve ever had to add a inexperienced driver to your policy will cause a huge premium hike. Older people have been proven to be more responsible, tend to cause fewer accidents .
  • You may save more by bundling policies – The majority of insurance companies afford lower prices to policyholders that buy multiple policies such as combining an auto and homeowners policy. Even if you already get this discount, it’s still a good idea to compare rates to help ensure you have the lowest rates. You may still save even more by insuring with multiple companies.
  • Responsible drivers pay better prices – Having a single driving citation can increase rates to the point where it’s not affordable. Drivers who don’t get tickets get better rates compared to drivers with tickets. Drivers who have received flagrant citations such as hit and run, DWI or reckless driving convictions may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with their state’s licensing department in order to continue driving.

Low cost car insurance prices

Effectively comparing car insurance prices is a ton of work if you don’t understand the most efficient way. You could waste a few hours discussing policy coverages with insurance agencies in your area, or you could save time and use online quoting to quickly compare rates.

Most of the larger companies take part in a program that enables customers to send in one quote, and each participating company then gives them pricing based on that data. This prevents consumers from doing form submissions for each company.

To find out how much you can save on car insurance click here to open in new window.

The one disadvantage to using this type of system is that you can’t choose which companies to get quotes from. So if you want to select specific insurance companies to request quotes from, we have a page of low cost car insurance companies in your area. Click to view list.

It’s up to you which method you use, but make absolute certain that you use nearly identical coverage limits and deductibles for every company. If your comparisons have different liability limits it will be next to impossible to make a fair rate comparison.

Save money by taking advantage of discounts

The cost of insuring your cars can be expensive, but companies offer discounts that could drop your premiums quite a bit. A few discounts will automatically apply when you quote, but a few must be asked about in order for you to get them. If you check and find you aren’t receiving every discount you qualify for, you are not getting the best rate possible.

  • Early Signing – Some insurance companies give discounts for switching companies before your current coverage expires. It could save around 10% when you buy insurance online.
  • Student Driver Training – Make teen driver coverage more affordable by requiring them to enroll in driver’s education in school.
  • Multi-Vehicle Discounts – Drivers who insure several vehicles with one company could earn a price break for each car.
  • ABS and Traction Control Discounts – Vehicles that have anti-lock braking systems are safer to drive and qualify for as much as a 10% discount.
  • Low Mileage Discounts – Fewer annual miles on your Toyota could qualify for substantially lower rates.
  • Professional Memberships – Participating in qualifying employment or professional organizations can get you a small discount on your policy.
  • Paper-free Discount – A few larger companies will give a small break for completing your application on the web.

As a sidenote, most discount credits are not given to your bottom line cost. The majority will only reduce specific coverage prices like collision or personal injury protection. So even though they make it sound like all the discounts add up to a free policy, it doesn’t quite work that way.

A few of the larger companies and some of the premium reductions they offer can be read below.

  • State Farm includes discounts for good student, defensive driving training, safe vehicle, passive restraint, accident-free, and driver’s education.
  • Farmers Insurance may have discounts that include homeowner, business and professional, multi-car, bundle discounts, and mature driver.
  • Progressive may include discounts for good student, multi-vehicle, multi-policy, continuous coverage, online signing, and online quote discount.
  • GEICO policyholders can earn discounts including military active duty, anti-theft, five-year accident-free, daytime running lights, anti-lock brakes, and multi-policy.
  • Auto-Owners Insurance may offer discounts for safe driver, air bags, multi-policy, anti-theft, safe vehicle, and anti-lock brakes.
  • The Hartford offers discounts for defensive driver, good student, vehicle fuel type, driver training, and anti-theft.
  • Farm Bureau offers discounts including safe driver, renewal discount, youthful driver, 55 and retired, and driver training.
  • USAA has discounts for defensive driver, vehicle storage, safe driver, loyalty savings, and multi-vehicle.

If you need lower rates, check with each insurance company which discounts they offer. A few discounts may not be offered in your state. If you would like to see a list of insurance companies that offer the discounts shown above, click here to view.

How much auto insurance do I need?

When choosing adequate coverage for your vehicles, there really is not a one size fits all plan. Everyone’s situation is a little different so this has to be addressed. These are some specific questions could help you determine if your situation may require specific advice.

  • Does my 2016 Toyota Corolla qualify for pleasure use?
  • Where can I get insurance after a DUI in my state?
  • Do I need PIP coverage since I have good health insurance?
  • Why do I need rental car insurance?
  • What is an SR-22 filing?
  • I have good health insurance, so how much medical payments coverage do I need?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to an agent. To find an agent in your area, simply complete this short form or click here for a list of auto insurance companies in your area. It only takes a few minutes and you can get the answers you need.

Auto insurance 101

Having a good grasp of your policy can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. Below you’ll find the usual coverages offered by auto insurance companies.

Liability

This provides protection from damage that occurs to other people or property. This coverage protects you from claims by other people, and does not provide coverage for 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. You might see values of 50/100/50 that translate to 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 things like legal defense fees, structural damage, medical services, bail bonds and medical expenses. How much liability coverage do you need? That is up to you, but consider buying as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries to you and your family and also any damage incurred to your Toyota Corolla.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked.

Comprehensive insurance

Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like damage from getting keyed, rock chips in glass, hitting a bird, a tree branch falling on your vehicle and fire damage. The maximum amount your auto insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Collision protection

This will pay to fix damage to your Corolla resulting from a collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as driving through your garage door, colliding with a tree, hitting a parking meter and rolling your car. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to raise the deductible to bring the cost down.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses for things like rehabilitation expenses, funeral costs and X-ray expenses. They are often used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is only offered in select states and may carry a deductible

At the end of the day…

Cheap 2016 Toyota Corolla insurance can be purchased from both online companies and with local insurance agents, so you need to quote insurance with both to have the best rate selection. A few companies do not offer the ability to get a quote online and these regional carriers work with independent insurance agents.

As you restructure your insurance plan, never reduce coverage to reduce premium. There have been many cases where an insured cut physical damage coverage only to regret that the few dollars in savings costed them thousands. Your objective should be to purchase plenty of coverage for the lowest cost, but do not skimp to save money.

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Comments About 2016 Toyota Corolla Insurance

  1. Lera Chang

    Checking in from Frederick, MD. Quoted prices from GEICO, GMAC, and Erie for my Corolla and saved $130 a year.

  2. Broderick Parsons

    I live south of Rochester, NY. Got rates from Sentry, Esurance, 21st Century, and Amica for my Toyota and saved just over $230 a year. Teenage drivers are expensive!

  3. Dinorah Mueller

    Anyone know if 21st Century does SR-22s?

  4. Irish Pitts

    If you have a clean record and live around Rutland, VT, check out State Farm. They seem to be cheaper.

  5. Patience Miller

    Went with AAA for my Corolla and am saving around $270 a year. It never hurts to quote around.

  6. Arden Durham

    It all costs too much. Proud to be from Denver, Colorado. Quoted with 21st Century, Amica, and Encompass for my Corolla and I think I saved around $60 each month. Got better coverage too. Just waiting to see how claims go.

  7. Olimpia Mclean

    It’s all a rip off. I live just to the east of Frederick, MD. Quoted prices from Western Auto Insurance, AIG Insurance, The General, and Safeco for my 2016 Toyota Corolla and saved $236 a year. Good multi-policy discounts. Can still barely afford it.

  8. Shalanda William

    I found affordable 2016 Toyota Corolla insurance from Progressive in Raleigh, NC.

  9. Suzy Ray

    If you have a good history and are close to Des Moines, Iowa, check out 21st Century. They seem to be cheaper. They were helpful in switching over.

  10. Clarence Vincent

    Will Allstate cancel my policy for a liability claim?