Cheapest 1991 Toyota MR2 Insurance Rates in 2023

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 28, 2023

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Finding better insurance prices for a Toyota MR2 can be a painful process, but you can learn a few tricks to save time.

There are more efficient ways to find car insurance online and we’ll show you the absolute fastest way to get price quotes for a new or used Toyota and get the lowest price from both online companies and local agents.

Smart consumers take time to do rate comparisons before your policy renews since rates tend to go up over time. Despite the fact that you may have had the lowest rates for MR2 insurance a couple years back there may be better deals available now. So block out anything you think you know about car insurance because you’re about to learn the fastest way to reduce your cost while increasing coverage.

Toyota MR2 insurance rates have many determining factors

It’s important that you understand the rating factors that play a part in calculating the price you pay for car insurance. Having a good understanding of what impacts premium levels allows you to make educated decisions that will entitle you to better car insurance rates.

  • Higher safety ratings means cheaper insurance – Cars with high safety ratings tend to have better insurance rates. The safest vehicles have better occupant injury protection and lower injury rates translates into fewer and smaller insurance claims passed on to you as lower rates. If your Toyota MR2 earned at least four stars on or an “acceptable” rating on it is probably cheaper to insure.
  • Theft deterrents lower rates – Choosing a vehicle that has an advanced theft prevention system can get you a discount on your car insurance. Theft prevention devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart car theft.
  • Never go without insurance – Letting your insurance expire is a quick way to bump up your car insurance costs. Not only will you pay more, but being ticketed for driving with no insurance might get you a license revocation or jail time.
  • Claim-free discounts can add up – If you file claims often, you can definitely plan on higher rates. Insurance companies generally give discounts to people who are claim-free. Insurance coverage is intended for major claims that would cause financial hardship.
  • Where you live – Being located in a rural area can be a good thing when it comes to car insurance. Fewer drivers means fewer accidents. Drivers who live in large cities have to deal with much more traffic to deal with and longer commutes to work. More time on the road means more change of being in an accident.
  • The more you drive the more you pay – The more you drive each year the more you will pay for car insurance. The majority of insurers charge to insure your cars based on their usage. Cars used primarily for pleasure use get more affordable rates as compared to vehicles used primarily for driving to work. An improperly rated MR2 may be costing you. Double check that your car insurance policy is rated on the correct driver usage.
  • One company can mean more discounts – The majority of insurers provide better rates to people who have multiple policies with them. It’s known as a multi-policy discount. Discounts can be five, ten or even twenty percent. If you currently are using one company, it’s in your best interest to shop around to ensure the best deal. Consumers may find better rates by buying car insurance from a different company.

Get lower rates on 1991 Toyota MR2 insurance

Insuring your fleet can be pricey, but you can get discounts to help bring down the price. Some trigger automatically when you purchase, but a few need to be inquired about before being credited. If you don’t get every credit you qualify for, you’re just leaving money on the table.

  • Payment Method – If you pay your bill all at once instead of making monthly payments you could save up to 5%.
  • Club Memberships – Affiliation with a professional or civic organization could trigger savings on insurance for MR2 insurance.
  • Anti-theft System – Anti-theft and alarm systems are stolen less frequently and qualify for as much as a 10% discount.
  • Low Mileage Discounts – Fewer annual miles on your Toyota can earn a substantially lower rate.
  • Accident Free – Good drivers with no accidents can save substantially when compared with drivers who are more careless.
  • Federal Government Employee – Active or retired federal employment can earn a discount up to 10% for MR2 insurance depending on your company.
  • Seat Belt Usage – Requiring all passengers to use their safety belts can save up to 15% off your PIP or medical payments premium.
  • Anti-lock Brake System – Vehicles with anti-lock braking systems prevent accidents and therefore earn up to a 10% discount.
  • Air Bag Discount – Cars that have air bags or motorized seat belts can qualify for discounts of 20% or more.

It’s important to understand that most of the big mark downs will not be given to the entire cost. The majority will only reduce specific coverage prices like medical payments or collision. Just because you may think you would end up receiving a 100% discount, companies wouldn’t make money that way. Any qualifying discounts will cut the amount you have to pay.

Companies that may have some of the above discounts are:

Double check with each insurance company which discounts you may be entitled to. Discounts might not be offered everywhere.

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Tailor your coverage to you

When it comes to choosing adequate coverage for your personal vehicles, there really is not a “perfect” insurance plan. Every situation is different.

For example, these questions can help discover if your situation may require specific advice.

  • Can I still get insurance after a DUI?
  • How can I force my company to pay a claim?
  • Can my teen drive my company car?
  • How high should my uninsured/underinsured coverage be in my state?
  • Should I put collision coverage on all my vehicles?
  • Are my tools covered if they get 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 an agent in your area, take a second and complete this form. It’s fast, free and you can get the answers you need.

Specific coverage details

Understanding the coverages of insurance can help you determine the best coverages and the correct deductibles and limits. Policy terminology can be confusing and coverage can change by endorsement.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims such as damage from a tornado or hurricane, hitting a bird and a broken windshield. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Collision coverage protection

Collision insurance covers damage to your MR2 resulting from a collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims like damaging your car on a curb, sustaining damage from a pot hole, hitting a mailbox and colliding with another moving vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.

Uninsured Motorist or Underinsured Motorist insurance

Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your 1991 Toyota MR2.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea. Usually these limits do not exceed the liability coverage limits.

Insurance for medical payments

Med pay and PIP coverage kick in for short-term medical expenses for X-ray expenses, funeral costs, doctor visits, prosthetic devices and surgery. The coverages can be used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Coverage applies to all vehicle occupants in addition to if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

Liability auto insurance

Liability insurance can cover damage or injury you incur to other people or property. It protects you from claims by other people, and doesn’t 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. You might see limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Alternatively, you may have a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability insurance covers claims like medical services, court costs, emergency aid and repair costs for stationary objects. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford.

In the end, you save

When trying to cut insurance costs, don’t be tempted to buy less coverage just to save a little money. In many cases, an accident victim reduced physical damage coverage only to regret at claim time they didn’t purchase enough coverage. Your strategy should be to find the BEST coverage for the lowest price while not skimping on critical coverages.

Cheaper 1991 Toyota MR2 insurance is available from both online companies in addition to many insurance agents, so you should compare both so you have a total pricing picture. A few companies do not provide online price quotes and many times these regional insurance providers only sell through independent insurance agents.

People leave their current company for a variety of reasons including delays in responding to claim requests, high rates after DUI convictions, delays in paying claims or even being labeled a high risk driver. Regardless of your reason for switching companies, choosing a new insurance company can be pretty painless.

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Frequently Asked Questions

What factors affect the cost of insurance for a 1991 Toyota MR2?

Several factors can influence the cost of insurance for a 1991 Toyota MR2, including:

  • Driver’s age and driving history
  • Location (where the vehicle is parked and driven)
  • Insurance coverage options and limits
  • Vehicle’s condition, mileage, and modifications
  • Claims history and credit score
  • Local insurance market conditions

Are older cars generally cheaper to insure?

In many cases, older cars can be cheaper to insure compared to newer models. This is because the value of the car has typically depreciated over time, making it less expensive to replace or repair. However, insurance costs can vary based on other factors such as the car’s make, model, safety features, and the driver’s profile.

How can I find the cheapest insurance for my 1991 Toyota MR2?

To find the cheapest insurance for your 1991 Toyota MR2, consider the following tips:

  • Shop around and compare quotes from different insurance providers.
  • Maintain a clean driving record and consider taking defensive driving courses.
  • Opt for higher deductibles, but make sure you can afford them in case of a claim.
  • Inquire about discounts, such as multi-policy, multi-car, or safe driver discounts.
  • Install safety features or anti-theft devices to reduce the risk of theft or damage.

Does the type of coverage affect the cost of insurance for a 1991 Toyota MR2?

Yes, the type of coverage you choose can impact the cost of insurance for your 1991 Toyota MR2. Comprehensive and collision coverage, which provide protection against theft, vandalism, and damage from accidents, are typically more expensive than liability-only coverage. However, it’s important to consider your needs and the value of your car when deciding on the appropriate coverage.

Are there any specific insurance considerations for classic or vintage cars like the 1991 Toyota MR2?

Yes, classic or vintage cars like the 1991 Toyota MR2 may require specialized insurance coverage. Classic car insurance policies are designed to provide coverage tailored to the unique needs of these vehicles. They often consider factors such as the car’s condition, rarity, and agreed-upon value. Contact insurance providers specializing in classic car coverage to explore your options.

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