How Much Does 1998 Toyota Supra 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: May 12, 2022

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Expensive auto insurance can overdraw your personal savings and make it hard to pay other bills. Comparing price quotes is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income.

Insurance companies such as GEICO, Progressive and Allstate increase brand awareness with ad campaigns and it is difficult to ignore the promise of big savings and do the work needed to find the best deal.

Why your Toyota Supra insurance rates may be high

Consumers need to have an understanding of the rating factors that come into play when calculating insurance coverage rates. Understanding what influences your rates allows you to make educated decisions that could result in lower insurance coverage prices.

  • Do you have a high stress job? – Occupations like judges, executives and accountants are shown to have higher rates than average due to job stress and lots of time spent at work. On the flip side, occupations such as scientists, athletes and retirees pay the least for Supra insurance.
  • Do you need those extra coverages? – There are a lot of additional coverages that you can buy when buying insurance coverage. Things like personal injury protection, towing coverage and membership fees are some examples. They may seem like a good idea at first, but your needs may have changed so remove them from your policy.
  • Adjust deductibles and save – The deductibles represent how much money you are required to spend out-of-pocket if you file a covered claim. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Examples of covered claims are colliding with a building, vandalism, and windstorm damage. The higher the amount you’re willing to pay, the bigger discount you will receive for Supra insurance.
  • Save money with special equipment – Choosing a vehicle with anti-theft technology or alarm system can help bring down rates. Anti-theft devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can thwart your vehicle from being stolen.
  • Rate your vehicle for proper use – The more miles you rack up on your Toyota each year the higher your rate. The majority of insurers rate vehicles based upon how you use the vehicle. Cars used primarily for pleasure use receive lower rates than vehicles that are driven to work every day. Double check that your insurance coverage policy shows how each vehicle is driven, because improper ratings can cost you money. If your policy improperly rates your Supra can cost quite a bit.

Which Auto Insurance is Cheapest?

Shopping for lower auto insurance rates can be challenging if you don’t understand the best way to get rate quotes. You could waste time talking about coverages with agents in your area, or you could save time and use the internet to accomplish the same thing much quicker.

Most of the larger companies belong to an insurance system where insurance shoppers send in one quote, and every company returns a rated price. This saves time by eliminating quotation requests to each individual auto insurance company.

To compare 1998 Toyota Supra rates using this form now click here to start a free quote.

The one disadvantage to using this type of form is you don’t know exactly which carriers to receive prices from. So if you want to select specific providers to compare prices, we have assembled a list of the cheapest auto insurance companies in your area. Click here to view list.

Whichever method you choose, be sure to compare the exact same coverage limits with every price quote. If you compare higher or lower deductibles then you won’t be able to truly determine the lowest rate. Having just a slight variation in limits can result in a big premium difference. It’s important to know that having more price comparisons provides better odds of finding the best rates.

Save money by taking advantage of these discounts

The cost of insuring your cars can be expensive, but discounts can save money and there are some available to help offset the cost. Some discounts apply automatically at the time of purchase, but less common discounts must be asked about prior to getting the savings.

  • No Charge for an Accident – A few companies will forgive one accident before your rates go up so long as you haven’t had any claims for a certain period of time.
  • No Accidents – Good drivers with no accidents pay much less compared to drivers who are more careless.
  • Anti-theft Discount – Anti-theft and alarm systems can help prevent theft and therefore earn up to a 10% discount.
  • Discount for New Cars – Putting insurance coverage on a new car can be considerably cheaper because new vehicles have to meet stringent safety requirements.
  • Life Insurance – Select insurance companies reward you with lower rates if you buy life insurance.
  • Braking Control Discount – Anti-lock brake equipped vehicles prevent accidents and qualify for as much as a 10% discount.
  • Safety Course Discount – Successfully completing a course in driver safety could cut 5% off your bill depending on where you live.
  • Student in College – Kids in college who live away from home without a vehicle on campus can receive lower rates.
  • Service Members Pay Less – Being deployed with a military unit could be rewarded with lower premiums.

Drivers should understand that some of the credits will not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as comp or med pay. Just because you may think all the discounts add up to a free policy, you’re out of luck. Any amount of discount will bring down your overall premium however.

For a list of insurance companies offering insurance coverage discounts, click here.

When should I use an insurance agent?

When it comes to buying coverage, there really is no best way to insure your cars. Your needs are not the same as everyone else’s and your policy should reflect that. Here are some questions about coverages that may help you determine whether or not you might need professional guidance.

  • How high should my medical payments coverage be?
  • Who is covered when they drive my 1998 Toyota Supra?
  • When would I need additional glass coverage?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Does insurance cover damages from a DUI accident?
  • What is an SR-22 filing?
  • What is the ISO rating for a 1998 Toyota Supra?
  • Am I covered when delivering products for my home-based business?

If you don’t know the answers to these questions but a few of them apply, you might consider talking to a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area.

Insurance policy coverages for a Toyota Supra

Having a good grasp of a insurance policy can help you determine the best coverages and proper limits and deductibles. Insurance terms can be confusing and reading a policy is terribly boring. These are typical coverage types available from insurance companies.

Medical expense insurance

Coverage for medical payments and/or PIP pay for bills like prosthetic devices, EMT expenses and chiropractic care. They are often used in conjunction with a health insurance program or if you do not have health coverage. They cover all vehicle occupants in addition to getting struck while a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Liability coverage

This provides protection from injuries or damage you cause to a person or their property. It protects YOU from legal claims by others. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 50/100/50 that means you have $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. Some companies may use a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.

Liability coverage pays for claims such as medical expenses, repair costs for stationary objects, funeral expenses, pain and suffering and loss of income. How much liability coverage do you need? That is up to you, but consider buying as much as you can afford.

Coverage for collisions

This coverage pays for damage to your Supra resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers things like driving through your garage door, colliding with another moving vehicle, hitting a mailbox, crashing into a ditch and rolling your car. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. You can also bump up the deductible to save money on collision insurance.

Comprehensive (Other than Collision)

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as vandalism, hail damage, damage from flooding and hitting a deer. The most your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Protection from uninsured/underinsured drivers

This protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Toyota Supra.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea. Frequently your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Don’t break the bank

When trying to cut insurance costs, do not skimp on critical coverages to save a buck or two. There are too many instances where an insured cut liability limits or collision coverage and discovered at claim time that it was a big mistake. Your aim should be to buy a smart amount of coverage for the lowest price, not the least amount of coverage.

We just covered a lot of tips how to get a better price on 1998 Toyota Supra insurance. It’s most important to understand that the more companies you get rates for, the higher your chance of finding lower rates. Drivers may discover the lowest rates come from some of the lesser-known companies. Some small companies may only write in your state and offer lower rates than the large multi-state companies such as State Farm and Allstate.

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