Cheapest 2002 Toyota Camry Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 9, 2023

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Shopping for the most affordable auto insurance over the internet is impossible for beginners to shopping for insurance online. With dozens of choices, how can you effectively compare them all to find the best price?

Finding the best rates is not rocket science. Basically, everyone who buys insurance stands a good chance to be able to find better rates. Although car owners do need to understand the way companies market on the web and use this information to your advantage.

Save money by taking advantage of these discounts

Companies offering auto insurance don’t always advertise all available discounts very clearly, so we researched both well-publicized and the more hidden insurance coverage savings.

  • Passive Restraints and Air Bags – Vehicles equipped with air bags or automatic seat belts can receive discounts of up to 25% or more.
  • Early Signing – A few companies offer discounts for switching policies before your current policy expires. This can save 10% or more.
  • Braking Control Discount – Vehicles with anti-lock braking systems can reduce accidents and will save you 10% or more.
  • Driver’s Ed – Cut your cost by having your teen driver complete a driver education course in high school.
  • Discount for New Cars – Adding a new car to your policy can be considerably cheaper due to better safety requirements for new cars.
  • No Accidents – Drivers who don’t have accidents can earn big discounts when compared with accident-prone drivers.
  • Federal Employees – Active or retired federal employment may qualify you for a discount on Camry coverage depending on your company.

It’s important to understand that most credits do not apply to the entire policy premium. Some only reduce the price of certain insurance coverages like comp or med pay. Just because you may think it’s possible to get free car insurance, you won’t be that lucky.

When should I use an insurance agent?

When buying coverage for your personal vehicles, there really is not a best way to insure your cars. Each situation is unique.

For example, these questions might help in determining whether you might need professional guidance.

  • If I drive on a suspended license am I covered?
  • Is my ex-spouse still covered by my policy?
  • What happens if I owe more than my 2002 Toyota Camry is worth?
  • Can I afford to buy a different vehicle if my 2002 Toyota Camry is totaled?
  • How much liability do I need to cover my assets?
  • Does car insurance cover theft of personal property?
  • Can I drive in Mexico and have coverage?
  • Does insurance cover tools stolen from my truck?
  • What discounts do I qualify for?
  • Do I pay less for low miles?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed agent. If you don’t have a local agent, simply complete this short form.

Beware of misleading auto insurance ads

21st Century, Allstate and State Farm regularly use ads on television and other media. All the companies have a common claim that you’ll save big if you move to their company. How do they all claim to save you money? This is how they do it.

Insurance companies are able to cherry pick for the type of driver that is profitable for them. For instance, a driver they prefer might be profiled as between the ages of 30 and 50, a clean driving record, and drives newer vehicles. A customer getting a price quote who matches those parameters receives the best rates and most likely will save quite a bit of money when switching.

Drivers who don’t qualify for these standards will have to pay a higher premium which usually ends up with the driver buying from a lower-cost company. The ad wording is “people who switch” not “everybody who quotes” save money. That’s the way companies can truthfully advertise the way they do. Because of the profiling, you should compare as many rates as you can. Because you never know which company will fit your personal profile best.

Insurance coverages explained

Understanding the coverages of insurance can be of help when determining which coverages you need and the correct deductibles and limits. Insurance terms can be impossible to understand and coverage can change by endorsement.

Comprehensive insurance

This pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as theft, damage from getting keyed, fire damage and hitting a deer. The maximum amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. It can pay for injuries to you and your family and damage to your Toyota Camry.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Auto collision coverage

This pays for damage to your Camry from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims like colliding with a tree, crashing into a ditch, hitting a parking meter, sustaining damage from a pot hole and hitting a mailbox. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. You can also raise the deductible to get cheaper collision coverage.

Auto liability insurance

Liability coverage can cover damage or injury you incur to other’s property or people that is your fault. It protects YOU against claims from other people, and doesn’t 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. You might see policy limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability insurance covers claims like structural damage, bail bonds, emergency aid, funeral expenses and court costs. How much liability coverage do you need? That is a personal decision, but buy as high a limit as you can afford.

Coverage for medical expenses

Coverage for medical payments and/or PIP reimburse you for bills for funeral costs, chiropractic care, surgery, ambulance fees and rehabilitation expenses. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. 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 only offered in select states but can be used in place of medical payments coverage

Shop Smart and Save

Discount 2002 Toyota Camry insurance can be found on the web and with local insurance agents, and you need to comparison shop both in order to have the best price selection to choose from. Some insurance providers do not offer the ability to get a quote online and usually these regional insurance providers provide coverage only through local independent agents.

When you buy insurance online, it’s not a good idea to buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured dropped collision coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your focus should be to find the BEST coverage at a price you can afford.

Insureds switch companies for a number of reasons such as poor customer service, delays in paying claims, extreme rates for teen drivers and not issuing a premium refund. Whatever your reason, finding a new company can be pretty painless.

To read more, take a look at the following helpful articles:

Frequently Asked Questions

How can I find the cheapest auto insurance rates for my 2002 Toyota Camry in 2023?

To find the cheapest auto insurance rates for your 2002 Toyota Camry in 2023, you can use our free quote tool by entering your ZIP code. This tool will provide you with quotes from different insurance companies, allowing you to compare rates and choose the most affordable option.

Do all insurance companies offer discounts for auto insurance coverage?

Not all insurance companies advertise their discounts clearly, so it’s important to ask each insurance provider you’re considering what discounts you are eligible for. Note that while most discounts don’t apply to the entire policy premium, they can help reduce the price of specific coverages like comprehensive or medical payments coverage.

When should I consider using an insurance agent?

The need for an insurance agent depends on your specific situation. If you’re unsure about certain aspects of your coverage or have specific questions, consulting with a licensed agent can provide professional guidance.

How do insurance companies claim to save you money in their advertisements?

Insurance companies often claim to save you money by cherry-picking the type of driver that is profitable for them. They target drivers who meet specific criteria, such as being between the ages of 30 and 50, having a clean driving record, and driving newer vehicles.

By quoting those preferred drivers, the companies can offer the best rates and potential savings. It’s important to compare quotes from multiple companies to find the one that suits your personal profile best.

What are the different types of auto insurance coverages?

Auto insurance coverages can be confusing, but understanding them is essential when choosing the right coverage for your needs. Here are some common coverages:

  • Comprehensive insurance: This coverage pays for damages caused by events like theft, vandalism, and natural disasters. You will need to pay a deductible, and the insurance company will cover the remaining costs.
  • Uninsured or underinsured motorist insurance: This coverage protects you and your vehicle when you’re involved in an accident with a driver who is uninsured or doesn’t have enough coverage. It can help pay for injuries and damages.
  • Collision insurance: This pays for damages to your vehicle caused by colliding with another car or object. You will pay a deductible, and the insurance company will cover the rest.
  • Liability insurance: This coverage protects you against claims for damage or injury caused to others. It does not cover damages to your own vehicle. This coverage includes bodily injury and property damage limits.
  • Medical payments (MedPay) insurance: This coverage helps pay for medical expenses resulting from an accident, including funeral costs, surgery, and rehabilitation. It can be used in conjunction with health insurance or as a substitute when health insurance is not available.

Remember to assess your coverage needs and consider deductibles and limits when selecting the right auto insurance coverage for you.

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