1997 Toyota Corolla Insurance Cost – 5 Savings Tips

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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 lower insurance coverage rates for your Toyota Corolla? Searching for low-cost insurance for your Toyota Corolla can turn out to be an all-consuming task, but you can follow our insurance coverage buying tips and make it easy.

There is a right way and a wrong way to compare insurance coverage rates so we’re going to tell you the best way to compare rates for your Toyota and find the best price possible.

You should make it a habit to compare rates on a regular basis because prices tend to go up over time. If you had the best deal on Corolla coverage a year ago the chances are good that you can find a lower rate today. Block out anything you think you know about insurance coverage because we’re going to demonstrate one of the best ways to lower your rates without sacrificing coverage.

If you have a policy now or need new coverage, you can use these techniques to get lower rates while maximizing coverage. Locating the lowest cost coverage is simple if you know the tricks. Drivers just need to learn how to shop for car insurance on the web.

Take these five discounts and save

Insuring your vehicles can cost a lot, but discounts can save money and there are some available to help bring down the price. A few discounts will automatically apply when you complete an application, but some may not be applied and must be requested specifically prior to getting the savings. If they aren’t giving you every credit possible, you are paying more than you should be.

  • Service Members Pay Less – Having a family member in the military may qualify for rate reductions.
  • Homeowners Savings – Being a homeowner may earn you a small savings because maintaining a house demonstrates responsibility.
  • Save with a New Car – Adding a new car to your policy can cost up to 25% less compared to insuring an older model.
  • Accident Waiver – Some insurance companies permit an accident before raising your premiums if you are claim-free prior to the accident.
  • Resident Student – Youth drivers who are attending college and do not have a car may be able to be covered for less.

It’s important to note that most of the big mark downs will not be given to the entire cost. Most only apply to specific coverage prices like liability, collision or medical payments. So despite the fact that it appears adding up those discounts means a free policy, you won’t be that lucky. Any qualifying discounts will help reduce your overall premium however.

For a list of providers offering car insurance discounts, follow this link.

Which policy gives me the best coverage?

When it comes to buying proper insurance coverage, there is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that may help highlight if your situation would benefit from professional advice.

  • Should I waive the damage coverage when renting a car?
  • Am I missing any policy discounts?
  • Am I covered when pulling a rental trailer?
  • Do I have newly-aquired coverage?
  • Do I need roadside assistance coverage?
  • What are the best liability limits?
  • Can I still get insurance after a DUI?
  • If my 1997 Toyota Corolla is totaled, can I afford another vehicle?
  • What if I don’t agree with a claim settlement offer?

If you’re not sure about those questions then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form. It’s fast, doesn’t cost anything and you can get the answers you need.

The insurance bait and switch

Consumers get pounded daily by advertisements that promise big savings by companies like Progressive, Allstate and GEICO. They all seem to make the same claim that you can save after switching to them.

But how can every company make the same claim? This is how they do it.

Different companies have a preferred profile for the type of driver that makes them money. For example, a desirable insured might be profiled as between 30 and 50, is a homeowner, and drives less than 7,500 miles a year. A propective insured who meets those qualifications will qualify for the lowest rates and most likely will save quite a bit of money when switching.

Consumers who don’t meet the “perfect” profile will be quoted higher prices which usually ends up with business not being written. Company advertisements say “customers who switch” but not “drivers who get quotes” save that kind of money. That is how insurance companies can make those claims.

This emphasizes why drivers must quote coverage with many companies. You cannot predict the company that will have the lowest Toyota Corolla insurance rates.

Insurance coverages 101

Learning about specific coverages of insurance can help you determine the best coverages and the correct deductibles and limits. Insurance terms can be confusing and coverage can change by endorsement.

Uninsured or underinsured coverage

Your UM/UIM coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Because many people 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 should not be overlooked. Most of the time these coverages are identical to your policy’s liability coverage.

Comprehensive protection

This will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as hail damage, rock chips in glass, damage from a tornado or hurricane and damage from flooding. The maximum payout your insurance company will pay is the ACV or 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 covers damage to your Corolla resulting from colliding with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like sustaining damage from a pot hole, rolling your car and hitting a mailbox. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Another option is to bump up the deductible to get cheaper collision coverage.

Medical expense coverage

Med pay and PIP coverage kick in for immediate expenses for surgery, nursing services, funeral costs and dental work. They are often used to fill the gap from your health insurance program or if you lack health insurance entirely. Coverage applies to all vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Liability car insurance

This coverage can cover damage or injury you incur to other’s property or people in an accident. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 50/100/50 which means a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged property. Some companies may use a combined limit that pays claims from the same limit without having the split limit caps.

Liability can pay for claims like loss of income, pain and suffering, emergency aid and court costs. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Shop around and save

When trying to cut insurance costs, never buy poor coverage just to save money. In too many instances, someone dropped collision coverage and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to buy the best coverage you can find for the lowest price while still protecting your assets.

Consumers change insurance companies for any number of reasons including policy non-renewal, policy cancellation, delays in paying claims or unfair underwriting practices. Whatever your reason, finding a new auto insurance company is pretty easy and you might even save some money in the process.

Lower-priced 1997 Toyota Corolla insurance is possible both online and with local insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. Some auto insurance companies do not offer you the ability to get quotes online and these regional insurance providers work with independent agents.

More information can be found below:

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