Cheaper 1998 Toyota Camry Insurance Rates

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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: Nov 24, 2017

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Looking for lower auto insurance rates for your Toyota Camry? Are you confused by the crazy number of auto insurance company choices? You’re not alone. Drivers have so many companies to choose from that it can be a ton of work to compare prices.

Smart consumers take time to get comparison quotes every six months since insurance rates go up and down regularly. Despite the fact that you may have had the lowest price for Camry insurance a few years ago other companies may now be cheaper. Ignore everything you know about auto insurance because I’m going to let you in on the secrets to the quickest way to properly buy coverages while reducing your premium.

If you are paying for car insurance now, you stand a good chance to be able to cut costs considerably using these tips. Finding affordable car insurance is easy if you know what you’re doing. Although consumers do need to know how the larger insurance companies market on the web and take advantage of how the system works.

Save money by taking advantage of these discounts

Companies don’t necessarily list every available discount in an easy-to-find place, so here is a list some of the more common as well as the least known auto insurance savings.

  • Own a Home – Being a homeowner may trigger a auto insurance policy discount because of the fact that having a home requires personal responsibility.
  • Claim Free – Drivers who don’t have accidents can earn big discounts compared to bad drivers.
  • Sign Online – Some insurance companies will give a small break simply for signing over the internet.
  • Use Seat Belts – Using a seat belt and requiring all passengers to buckle their seat belts could save 15% off the personal injury premium cost.
  • Military Rewards – Having a family member in the military could be rewarded with lower premiums.
  • Distant Student – Youth drivers who live away from home and don’t have a car may qualify for this discount.
  • More Vehicles More Savings – Insuring multiple cars or trucks with the same company may reduce the rate for each vehicle.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Toyota can qualify you for lower rates on the low mileage vehicles.
  • Sign Early and Save – A few companies offer discounts for buying a policy prior to your current policy expiration. It can save you around 10%.

Keep in mind that most discounts do not apply to the overall cost of the policy. Most only apply to individual premiums such as physical damage coverage or medical payments. So even though they make it sound like adding up those discounts means a free policy, auto insurance companies aren’t that generous.

Companies that may offer some of the above discounts include:

It’s a good idea to ask every prospective company what discounts are available to you. Discounts may not apply in your area.

Toyota Camry insurance premiums are calculated by many factors

An important part of buying insurance is that you know some of the elements that play a part in calculating auto insurance rates. Having a good understanding of what controls the rates you pay helps enable you to make changes that will entitle you to better auto insurance rates.

  • Men are more aggressive – The statistics show that men are more aggressive behind the wheel. However, this does not mean men are WORSE drivers than women. Men and women tend to get into accidents at about the same rate, but the men have costlier accidents. Men also statistically have more aggressive citations such as reckless driving. Young males are most likely to cause an accident and thus pay the highest rates.
  • Mature drivers pay less – Young drivers tend to be careless and easily distracted behind the wheel so they pay higher auto insurance rates. Adding a youthful driver onto a policy can be quite pricey. Older drivers are more cautious drivers, file fewer claims and receive fewer citations.
  • Traffic citations inflate rates – Your driving record impacts your car insurance rates tremendously. Careful drivers get better rates than bad drivers. Only having one ticket can boost insurance rates forty percent or more. Drivers who get serious violations like reckless driving, hit and run or driving under the influence may be required to submit a SR-22 form with their state motor vehicle department in order to continue driving.
  • Liability coverage protects you – Your policy’s liability coverage will protect you in the event that a jury decides you are liable for causing damage or personal injury in an accident. It will provide for a legal defense which can cost thousands of dollars. Liability is cheap as compared to coverage for physical damage, so do not skimp.
  • Pleasure use saves money – The more you drive in a year’s time the higher your rate. Almost all companies price each vehicle’s coverage based on their usage. Cars not used for work or commuting get more affordable rates than those used for commuting. Ask your agent if your auto insurance policy is showing the correct driver usage. If your policy improperly rates your Camry can cost quite a bit.
  • Big city or small town – Residing in a small town can save you money when buying auto insurance. Fewer drivers translates into fewer accidents and also fewer theft and vandalism claims. City drivers tend to have traffic congestion and a longer drive to work. Longer commute distances can result in more accidents.

When should I use an insurance agent?

When choosing coverage for your vehicles, there really is no best way to insure your cars. Your needs are not the same as everyone else’s.

These are some specific questions might point out whether your personal situation might need professional guidance.

  • Am I covered if I crash into my own garage door?
  • Am I covered when driving on a suspended license?
  • How much underlying liability do I need for an umbrella policy?
  • Is business property covered if stolen from my car?
  • Do I need replacement cost coverage?
  • Does my 1998 Toyota Camry qualify for pleasure use?
  • Should I drop comprehensive coverage on older vehicles?
  • How do I buy GAP insurance?
  • What can I do if my company won’t pay a claim?

If you don’t know the answers to these questions, then you may want to think about talking to an insurance agent. To find an agent in your area, complete this form.

Drivers who switch save $485 a year? Really?

Insurance coverage providers like Allstate and Progressive regularly use television and radio advertisements. They all say the same thing about savings if you move to them. How does each company say the same thing?

Insurance companies are able to cherry pick for the type of customer that earns them a profit. An example of a preferred risk might be over the age of 50, has no prior claims, and has a high credit rating. A customer who fits that profile gets the lowest rates and most likely will save a lot of money.

Potential customers who don’t qualify for the requirements will be quoted a more expensive rate which usually ends up with business not being written. The ads state “people who switch” not “everybody who quotes” save that kind of money. This is how companies can advertise the savings. This emphasizes why it’s extremely important to get as many comparisons as possible. It is impossible to predict the company that will fit your personal profile best.

Coverages available on your policy

Learning about specific coverages of your car insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. Car insurance terms can be impossible to understand and nobody wants to actually read their policy.

Coverage for liability – This provides protection from damage or injury you incur to a person or their property that is your fault. This insurance protects YOU against other people’s claims. It does not cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability can pay for claims like repair costs for stationary objects, loss of income and medical expenses. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Collision coverages – This coverage will pay to fix damage to your Camry caused by 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 insurance covers claims like scraping a guard rail, sustaining damage from a pot hole, backing into a parked car and driving through your garage door. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. You can also raise the deductible to bring the cost down.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your Toyota Camry.

Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Comprehensive coverage – Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as falling objects, fire damage, a tree branch falling on your vehicle and hitting a bird. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses for things like surgery, ambulance fees, doctor visits and rehabilitation expenses. They are used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Smart consumers save more

Insureds change insurance companies for a variety of reasons including not issuing a premium refund, questionable increases in premium, an unsatisfactory settlement offer or even being labeled a high risk driver. Regardless of your reason for switching companies, choosing a new company can be easier than you think.

Cheap 1998 Toyota Camry insurance is possible both online and also from your neighborhood agents, and you need to price shop both in order to have the best chance of saving money. Some auto insurance companies may not provide the ability to get a quote online and these smaller companies work with independent agents.

You just learned many tips how you can get a better price on insurance. It’s most important to understand that the more companies you get rates for, the better your chances of lowering your rates. Consumers could even find that the most savings is with a small local company.

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