1992 Toyota Corolla Insurance Rates – 5 Tricks for Best Quotes

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: May 12, 2022

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Trying to find the cheapest insurance rates for your Toyota Corolla? Sick and tired of paying out the nose each month for car insurance? Your situation is no different than many other drivers. Multiple insurers compete for your insurance dollar, and because of this it can be hard to compare insurers to discover the definitive lowest rate possible.

If you are insured now or are just looking to switch companies, you can use these techniques to find the best rates while maintaining coverages. Choosing the best insurance company for you is not that difficult. Consumers only need to know the proper way to compare company rates online.

How to Compare Insurance Rates

Performing a rate comparison can be a daunting task if you don’t understand the best way to get rate quotes. You could waste time driving to insurance companies in your area, or you can utilize the web for quick rates.

Many companies participate in an industry program where prospective buyers only type in their quote data once, and each participating company can give them a price based on that information. This prevents consumers from doing quote forms to each company.

To find out how much you can save on insurance click here (opens in new window).

The one disadvantage to getting quotes like this is you cannot specify which carriers to receive prices from. So if you prefer to choose individual companies to request quotes from, we put together a list of low cost insurance companies in your area. Click here to view list.

Whichever way you use, make absolute certain that you use exactly the same coverage limits with each company. If you enter different deductibles it’s impossible to determine which rate is truly the best.

Save big with these five discounts

Auto insurance companies do not list all available discounts very clearly, so the following is a list of some of the best known and also the lesser-known ways to save on insurance coverage. If you’re not getting every credit possible, you’re just leaving money on the table.

  • Claim Free – Claim-free drivers can earn big discounts compared to accident-prone drivers.
  • E-sign – Some insurance companies will discount your bill up to fifty bucks just for signing your application online.
  • Passive Restraints and Air Bags – Factory air bags or motorized seat belts may earn rate discounts of more than 20%.
  • Drive Less and Save – Fewer annual miles on your Toyota can qualify you for a substantially lower rate.
  • One Accident Forgiven – Some insurance companies will forgive one accident before hitting you with a surcharge so long as you haven’t had any claims for a certain period of time.

Consumers should know that most credits do not apply to your bottom line cost. Most cut specific coverage prices like physical damage coverage or medical payments. So even though it sounds like you could get a free insurance coverage policy, you won’t be that lucky.

Companies that may have these discounts may include but are not limited to:

Before buying, ask every prospective company what discounts are available to you. Some discounts might not apply in your area.

But I don’t know anything about car insurance

When it comes to choosing proper insurance coverage for your vehicles, there really is no best way to insure your cars. Everyone’s situation is a little different and your policy should reflect that. These are some specific questions might help in determining whether you will benefit from professional help.

  • Can I drive in Mexico and have coverage?
  • Are rental cars covered under my policy?
  • Which is better, split liability limits or combined limits?
  • What is the minimum liability in my state?
  • What is an SR-22 filing?
  • Why do I need rental car insurance?
  • How can I find cheaper teen driver insurance?
  • Can I pay claims out-of-pocket if I buy high deductibles?

If you can’t answer these questions but one or more may apply to you, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form or click here for a list of insurance companies in your area. It is quick, free and can provide invaluable advice.

Information about specific coverages

Understanding the coverages of your policy aids in choosing the best coverages and proper limits and deductibles. Policy terminology can be difficult to understand and coverage can change by endorsement. These are the normal coverages found on the average insurance policy.

Auto collision coverage

This will pay to fix damage to your Corolla resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like crashing into a building, colliding with another moving vehicle and sideswiping another vehicle. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Drivers also have the option to raise the deductible to save money on collision insurance.

Comprehensive coverage

Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as falling objects, hitting a bird, damage from getting keyed, damage from a tornado or hurricane and hail damage. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured/Underinsured Motorist coverage

This coverage gives you protection 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 Corolla.

Since a lot of drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family.

Medical payments coverage and PIP

Med pay and PIP coverage provide coverage for bills for things like prosthetic devices, pain medications, ambulance fees, doctor visits and rehabilitation expenses. They are often used in conjunction with a health insurance program or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants in addition to if you are hit as a while walking down the street. PIP is only offered in select states and gives slightly broader coverage than med pay

Liability car insurance

Liability insurance can cover damage or injury you incur to other’s property or people that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 100/300/100 which means a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.

Liability can pay for claims like repair bills for other people’s vehicles, funeral expenses, repair costs for stationary objects, pain and suffering and bail bonds. The amount of liability coverage you purchase is up to you, but buy as large an amount as possible.

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