Toyota Toyota Prius Insurance Rates
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UPDATED: May 11, 2022
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Trying to find the cheapest insurance for a Toyota Prius could be an all-consuming task, but you can follow our auto insurance buying tips to make it easier. There is a right way and a wrong way to find auto insurance online and you need to know the absolute fastest way to price shop coverage for your Toyota and obtain the lowest possible price.
It’s smart to do rate comparisons yearly since rates are constantly changing. Despite the fact that you may have had the best price on Prius insurance two years ago there is a good chance you can find better rates now. Forget all the misinformation about auto insurance because you’re about to find out one of the easiest ways to find the best coverage while lowering your premiums.
If you have insurance now or are just looking to switch companies, you can follow these tips to cut your premiums and possibly find even better coverage. Shopping for the lowest cost insurance can be fairly easy. Vehicle owners just need to know the most efficient way to compare price quotes online.
Pay less for Toyota Prius insurance
Companies don’t always advertise all their discounts very well, so we took the time to find both the well known and also the lesser-known ways to save on car insurance. If you don’t get every credit possible, you are throwing money away.
- No Charge for an Accident – A handful of insurance companies will forgive one accident before raising your premiums if your claims history is clear for a particular time prior to the accident.
- Braking Control Discount – Cars that have steering control and anti-lock brakes prevent accidents and earn discounts up to 10%.
- New Vehicle Savings – Putting insurance coverage on a new car can save up to 30% compared to insuring an older model.
- Drive Safe and Save – Insureds without accidents may receive a discount up to 45% less on Prius insurance than drivers with accident claims.
- Multiple Vehicles – Having multiple vehicles on one policy qualifies for this discount.
- Early Switch Discount – A few companies offer discounts for signing up prior to your current policy expiring. It’s a savings of about 10%.
- Military Discounts – Having a family member in the military may qualify for rate reductions.
- Pay Now and Pay Less – If you pay your bill all at once instead of monthly or quarterly installments you can actually save on your bill.
- Passive Restraint Discount – Vehicles with factory air bags or motorized seat belts can qualify for discounts of 20% or more.
It’s important to note that most discounts do not apply the whole policy. A few only apply to specific coverage prices like comprehensive or collision. So even though they make it sound like adding up those discounts means a free policy, companies don’t profit that way.
Insurance companies that possibly offer these benefits are:
- State Farm
- 21st Century
- American Family
- The Hartford
It’s a good idea to ask each company which discounts you may be entitled to. All car insurance discounts might not be offered in your state.
Toyota Prius rates influenced by many factors
It’s important that you understand the rating factors that go into determining your car insurance rates. When you know what positively or negatively impacts premium levels helps enable you to make changes that can help you get big savings.
- Discounts for multiple policies – Most insurance companies will give a discount to people who carry more than one policy in the form of a multi-policy discount. If you currently are using one company, you may still want to compare rates to verify if the discount is saving money. You may still be able to find better rates by buying car insurance from a different company.
- Policy add-ons can waste money – There are a ton of extra coverages you can purchase when buying car insurance. Coverages like personal injury protection, better glass coverage and additional equipment coverage may be wasting your money. They may seem good when talking to your agent, but now you might not need them so get rid of them and save.
- Keep rates low by being claim-free – Insurance companies give better rates to policyholders who do not file claims often. If you frequently file small claims, you can pretty much guarantee either a policy non-renewal or much higher rates. Car insurance is designed for larger claims.
- Your age impacts your rates – Young drivers tend to be more careless when driving so they pay higher car insurance rates. If you’ve ever had to add a youthful driver onto your car insurance can really hurt. More mature drivers are viewed as being more responsible, tend to cause fewer accidents and tend to be better behind the wheel.
- Do you know your deductibles? – Deductibles for physical damage represent how much money you are required to spend before a claim is paid by your company. Coverage for physical damage, also known as collision and other-than-collision, insures against damage to your car. Some instances where coverage would apply are colliding with a building, damage caused by hail, and windstorm damage. The higher the amount you are required to pay out-of-pocket, the lower your rates will be on Prius insurance.
- Bad driving skills means higher rates – Whether or not you get tickets impacts your car insurance rates tremendously. Only having one citation can increase rates forty percent or more. Good drivers have lower premiums than people who have multiple driving citations. Drivers with severe tickets like DWI, reckless driving or hit and run convictions are required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to drive a vehicle legally.
- Safer cars are cheaper to insure – Vehicles with high crash test scores get lower rates. Safer cars reduce injuries and any reduction in injury severity means less money paid by your insurance company passed on to you as lower rates. If your Toyota is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it may be receiving lower rates.
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Tailor your coverage to you
When buying coverage, there really is not a single plan that fits everyone. Coverage needs to be tailored to your specific needs.
Here are some questions about coverages that may help highlight whether your personal situation would benefit from professional advice.
- Is my dog or cat covered if injured in an accident?
- Is my ex-spouse still covered by my policy?
- Do I need higher collision deductibles?
- Are my tools covered if they get stolen from my vehicle?
- Should I rate my 2001 Toyota Prius as pleasure use or commute?
- Do I need more liability coverage?
- Do I have coverage when pulling a U-Haul trailer?
- Does coverage extend to Mexico or Canada?
- Why am I required to buy liability insurance?
If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with an insurance agent. To find an agent in your area, simply complete this short form. It’s fast, doesn’t cost anything and can help protect your family.
Auto insurance coverage considerations
Knowing the specifics of your auto insurance policy aids in choosing appropriate coverage and proper limits and deductibles. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.
This coverage will pay to fix damage to your Prius caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision coverage protects against things such as crashing into a ditch, colliding with another moving vehicle, hitting a parking meter and rolling your car. This coverage can be expensive, so consider dropping it from lower value vehicles. Drivers also have the option to choose a higher deductible to bring the cost down.
Liability auto insurance
Liability coverage can cover injuries or damage you cause to other’s property or people in an accident. This insurance protects YOU against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 25/50/25 which means a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.
Liability coverage pays for claims such as repair bills for other people’s vehicles, loss of income and medical services. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.
Comprehensive auto coverage
Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as hitting a bird, falling objects, fire damage and theft. The maximum amount a auto insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Medical payments and PIP coverage
Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses like EMT expenses, X-ray expenses and dental work. They are often utilized in addition to your health insurance policy or if you do not have health coverage. They cover you and your occupants in addition to being hit by a car walking across the street. PIP is not universally available and gives slightly broader coverage than med pay
Affordable insurance is out there
When trying to cut insurance costs, don’t be tempted to sacrifice coverage to reduce premiums. Too many times, drivers have reduced liability limits or collision coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. The proper strategy is to buy enough coverage at an affordable rate, not the least amount of coverage.
In this article, we covered some good ideas how to reduce 2001 Toyota Prius insurance prices online. The most important thing to understand is the more quotes you get, the better chance you’ll have of finding lower rates. Consumers may even find the lowest rates come from a small mutual company.
Consumers change insurance companies for many reasons like delays in responding to claim requests, denial of a claim, questionable increases in premium and high prices. Regardless of your reason, finding a new company is less work than it seems.
Additional detailed information can be found at these sites:
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)
- Coverage Information (Progressive Insurance)
- Distracted Driving Statistics (Insurance Information Insitute)
- Vehicle Size and Weight FAQ (iihs.org)
- Credit Impacts Car Insurance Rates (State Farm)
- Comprehensive Coverage (Liberty Mutual)
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