How Much Does 1992 Toyota MR2 Car Insurance Cost?

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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: Aug 24, 2022

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Looking for better insurance rates for your Toyota MR2? Overpriced Toyota MR2 insurance can drain your bank account and put the squeeze on your family’s finances. Comparing price quotes is free, only takes a few minutes, and is a good way to reduce premiums and put more money in your pocket. With consumers having so many choices, it can be hard to find the best insurer.

Finding affordable coverage is not that difficult. If you are paying for car insurance now, you stand a good chance to be able to cut costs considerably using these methods. Drivers only need an understanding of the best way to buy auto insurance online.

How to Lower Your Car Insurance Cost

All major car insurance companies like Progressive, GEICO, Allstate and State Farm give prices for coverage on their websites. Getting online rates is fairly simple as you simply enter your coverage preferences into a form. After you complete the form, their system gets your driving and credit reports and generates pricing information based on these factors. Online price quotes streamlines rate comparisons, but having to visit a lot of sites and enter the same data into a form can be a bit tiresome and repetitive. But it is imperative to perform this step in order to find a lower rate.

The quickest way to find better car insurance pricing makes use of a single form to return rates from multiple companies. It’s a real time-saver, requires much less work on your part, and makes rate comparisons much simpler. Immediately after you send the form, it is rated and you can select any one of the pricing results. If you find a better price you simply finish the application and buy the new coverage. This process takes 15 minutes at the most and may save quite a bit of money.

In order to find out what other companies charge, click here to open in new window and enter your information. To compare your current rates, we recommend you input the insurance coverages as shown on your current policy. Doing this assures you will get an apples-to-apples comparison based on similar coverages.

You probably qualify for some discounts

Car insurance companies don’t always publicize all available discounts very well, so we researched some of the more common and the harder-to-find car insurance savings. If you don’t get every credit you qualify for, you’re paying more than you need to.

  • Paperless Signup – A few companies will give a small break just for signing your application on their website.
  • Theft Prevention System – Anti-theft and alarm systems prevent vehicle theft and earn discounts up to 10%.
  • Good Student Discount – This discount can be rewarded with saving of up to 25%. Earning this discount can benefit you well after school through age 25.
  • Auto/Home Discount – If you insure your home and vehicles with the same insurance company you could get a discount of up to 20% off your total premium.
  • Defensive Driver – Successfully completing a driver safety course could possibly earn you a 5% discount if your company offers it.

A little note about advertised discounts, some of the credits will not apply to the entire policy premium. Most only cut the price of certain insurance coverages 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.

Insurance companies that possibly offer these money-saving discounts include:

It’s a good idea to ask every prospective company which discounts they offer. Savings might not apply everywhere.

There’s no such thing as the perfect policy

When buying the right insurance coverage for your personal vehicles, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs so your insurance needs to address that. For example, these questions may help you determine whether you would benefit from professional advice.

  • Do I have coverage for damage caused while driving under the influence?
  • Do all my vehicles need collision coverage?
  • Is other people’s property covered if stolen from my vehicle?
  • Does my insurance cover a custom paint job?
  • Why am I required to buy high-risk coverage?
  • When should I remove comp and collision on my 1992 Toyota MR2?
  • How do I buy GAP insurance?
  • Does insurance cover tools stolen from my truck?
  • Should I buy additional glass protection?

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If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier It’s fast, free and can help protect your family.

The coverage is in the details

Understanding the coverages of a insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. These are the normal coverages found on the average insurance policy.

Liability – Liability coverage can cover damage that occurs to a person or their property by causing an accident. It protects YOU against claims from other people, and doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability insurance covers things like bail bonds, pain and suffering and attorney fees. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as high a limit as you can afford.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your Toyota MR2.

Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Comprehensive coverages – This pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like theft, damage from flooding and falling objects. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Collision coverage – This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against claims like sideswiping another vehicle, driving through your garage door and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Drivers also have the option to bump up the deductible to get cheaper collision coverage.

Coverage for medical payments – Coverage for medical payments and/or PIP reimburse you for immediate expenses for nursing services, chiropractic care, EMT expenses, prosthetic devices and surgery. The coverages can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage

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