Cheap 2002 Toyota ECHO 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: May 12, 2022

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No one likes having to buy insurance coverage, in particular when their premiums are through the roof. Drivers have so many car insurance companies to pick from, and even though it’s nice to have a selection, too many choices makes it more difficult to find the lowest rates.

Buying car insurance is easy if you know what you’re doing. If you are insured now or are just looking to switch companies, you can follow these tips to find better prices while maintaining coverages. Drivers only need to know the proper way to compare rates over the internet.

Take discounts and save

Car insurance companies don’t list all available discounts in a way that’s easy to find, so here is a list some of the best known as well as the least known discounts you could be receiving. If you aren’t receiving every discount you qualify for, you’re paying more than you need to.

  • Resident Student – Youth drivers who are attending college and don’t have a car can be insured at a reduced rate.
  • New Vehicle Savings – Adding a new car to your policy is cheaper since new cars are generally safer.
  • Sign Early and Save – Select companies give a discount for switching to them prior to your current policy expiration. It can save you around 10%.
  • Driver Safety – Taking a driver safety course can save you 5% or more and easily recoup the cost of the course.
  • Lower Rates for Military – Being on active duty in the military could be rewarded with lower premiums.
  • Save over 55 – If you qualify as a senior citizen, you can possibly qualify for better insurance rates for ECHO coverage.
  • Payment Discounts – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
  • Safe Driver Discount – Drivers who don’t get into accidents may save up to 50% more for ECHO coverage than less cautious drivers.

It’s important to note that most discount credits are not given to all coverage premiums. A few only apply to specific coverage prices like physical damage coverage or medical payments. Just because it seems like you would end up receiving a 100% discount, you won’t be that lucky.

Insurance companies that may have these discounts may include but are not limited to:

It’s a good idea to ask each insurance company which discounts they offer. Savings may not be available in your state.

How to Compare Auto Insurance Costs

All major auto insurance companies give insurance quotes on the web. Getting quotes doesn’t take much effort as you just type in your coverage preferences as detailed in the form. After the form is submitted, their rating system pulls your driving record and credit report and returns pricing information based on these and other factors. Online quotes helps simplify price comparisons, but the time it takes to visit different websites and type in the same information is not the best way to spend an afternoon. But it’s very important to perform this step if you want to find the best price on auto insurance.

There is an easier way!

The quickest way to lower your auto insurance bill requires only one form that gets prices from more than one company. The form is fast, reduces the work, and makes price shopping online much more enjoyable. After sending the form, your coverage is rated and you are able to buy any one of the price quotes you receive. If a lower price is quoted, you simply finish the application and purchase the new policy. The entire process can be completed in less than 10 minutes and may save quite a bit of money.

In order to fill out one form to compare multiple rates now, click here to open in a new tab and complete the simple form. To compare your current rates, we recommend you duplicate deductibles and limits identical to your current policy. This ensures you will have comparison quotes using the same coverage and limits.

Impacting insurance rates for a Toyota ECHO

An important part of buying insurance is that you know the different types of things that help determine the price you pay for car insurance. Knowing what determines base rates allows you to make educated decisions that could result in big savings.

  • Do you have a high stress job? – Jobs such as judges, executives and accountants tend to pay higher rates than average due to job stress and lots of time spent at work. On the flip side, occupations such as actors, athletes and retirees have the lowest average rates for ECHO coverage.
  • Increase deductibles and save – Deductibles for physical damage define the amount you are required to spend out-of-pocket before your car insurance pays a claim. Physical damage coverage, also known as collision and other-than-collision, protects your car from damage. Some instances where coverage would apply are running into the backend of another car, vandalism, and windstorm damage. The more money you are required to pay out-of-pocket, the lower your rates will be for ECHO coverage.
  • The more you drive the more you pay – Driving more miles each year the higher your rate. Almost all companies rate vehicles based on how the vehicle is used. Cars and trucks left parked in the garage can get a lower rate as compared to vehicles used primarily for driving to work. Make sure your car insurance coverage is showing the proper vehicle usage, because it can save money. If your policy improperly rates your ECHO may be costing you.
  • Younger drivers pay higher rates – Older drivers are more cautious drivers, file fewer claims and are safer drivers. Teenage drivers are known to get distracted easily behind the wheel therefore car insurance rates are much higher.
  • Multi-policy discounts can save money – Most insurers give discounts to insureds who consolidate policies with them such as combining an auto and homeowners policy. Discounts can be five, ten or even twenty percent. If you currently are using one company, you may still want to shop around to ensure the best deal.
  • Extra coverages can waste money – There are quite a few additional coverages you can purchase on your ECHO policy. Insurance for roadside assistance, better glass coverage and additional equipment coverage may be wasting your money. They may seem good initially, but now you might not need them so eliminate the coverages to reduce your premium.
  • Cautious drivers pay less – Even one ticket may increase your cost by as much as thirty percent. Drivers with clean records have lower premiums compared to drivers with tickets. If you have flagrant violations such as hit and run, DWI or reckless driving convictions may find they need to file a proof of financial responsibility form (SR-22) with their state DMV in order to keep their license.

Which policy gives me the best coverage?

When buying the best insurance coverage coverage for your vehicles, there really is no perfect coverage plan. Each situation is unique so your insurance should reflect that These are some specific questions can help discover if your insurance needs could use an agent’s help.

  • Do I pay less if my vehicle is kept in my garage?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Where can I find high-risk insurance?
  • Should I get collision insurance on every vehicle?
  • What is an SR-22 filing?
  • Is my custom paint covered by insurance?

If you’re not sure about those questions, you may need to chat with an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and may give you better protection.

Misconceptions in auto insurance advertisements

Consumers can’t ignore all the ads for car insurance savings from companies such as Allstate, GEICO and Progressive. All the ads make the same claim that you can save if you switch your policy.

But how can every company make the same claim?

Different companies are able to cherry pick for the driver they prefer to insure. For example, a profitable customer might be profiled as over the age of 50, owns a home, and has great credit. Any driver who fits that profile will get the preferred rates and most likely will save a lot of money.

Consumers who fall outside these standards must pay higher rates and ends up with the driver buying from a lower-cost company. Company advertisements say “customers who switch” but not “drivers who get quotes” save money. That is how insurance companies can confidently claim big savings. This illustrates why it’s extremely important to compare many company’s rates. It’s just too difficult to predict which company will have the lowest Toyota ECHO insurance rates.

Specific coverages for a Toyota ECHO

Knowing the specifics of your policy aids in choosing the right coverages and the correct deductibles and limits. Insurance terms can be confusing and nobody wants to actually read their policy. Shown next are typical coverages available from insurance companies.

Auto collision coverage

This coverage covers damage to your ECHO from colliding with an object or car. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for things like colliding with a tree, crashing into a ditch, damaging your car on a curb and backing into a parked car. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to increase the deductible to get cheaper collision coverage.

Uninsured and underinsured coverage

This gives you protection when the “other guys” either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Toyota ECHO.

Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.

Comprehensive coverages

This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like a broken windshield, hail damage, damage from a tornado or hurricane, falling objects and damage from flooding. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Coverage for medical payments

Coverage for medical payments and/or PIP kick in for immediate expenses for things like surgery, hospital visits and funeral costs. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not universally available but can be used in place of medical payments coverage

Liability insurance

Liability coverage can cover damages or injuries you inflict on other people or property in an accident. It protects you against other people’s claims. It does not cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 50/100/50 which stand for $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability coverage pays for things such as medical services, bail bonds and funeral expenses. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

A tidy conclusion

When shopping online for insurance coverage, never buy poor coverage just to save money. There have been many cases where an insured cut liability limits or collision coverage only to regret at claim time that they should have had better coverage. Your strategy should be to find the BEST coverage at a price you can afford.

Throughout this article, we presented a lot of ways to get a better price on 2002 Toyota ECHO insurance. It’s most important to understand that the more you quote, the higher your chance of finding lower rates. Consumers may even find the best price on insurance coverage is with the smaller companies. Some small companies can often provide lower rates in certain areas compared to the large companies like State Farm, GEICO and Nationwide.

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