Cheapest 2002 Toyota Highlander Insurance Rates in 2023
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UPDATED: Jun 5, 2023
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Consumers who are new to the process of shopping for insurance online will discover buying the lowest-priced car insurance quite difficult.
Compare Quotes for Insurance Coverage
There are a lot of ways you can shop for insurance coverage but some are more efficient than others. You can waste a few hours (or days) talking to agents in your area, or you can stay home and use the internet to get the quickest rates.
The majority of car insurance companies participate in an industry program that allows shoppers to only type in their quote data once, and each participating company then gives them pricing based on the submitted data. This saves time by eliminating form submissions to each company.
To enter your information into the quoting system, click to open in new window.
However you get your quotes, compare exactly the same coverage limits and deductibles for each price quote. If you compare higher or lower deductibles you can’t possibly determine the best price for your Toyota Highlander. Having just a slight variation in coverages can result in a big premium difference. Keep in mind that obtaining a wide range of quotes will increase your chances of finding a lower rate.
Do drivers who switch really save?
Auto insurance providers like Progressive, Allstate and GEICO regularly use ads on TV and radio. They all make the same claim that you’ll save big if you move to them. How do they all say the same thing?
Different companies are able to cherry pick for the right customer that makes them money. An example of a preferred risk might be between the ages of 40 and 55, a clean driving record, and has great credit. A customer getting a price quote who fits that profile is entitled to the best price and as a result will probably save a lot of money.
Consumers who fall outside these standards must pay a more expensive rate which leads to the driver buying from a lower-cost company. The ads say “drivers who switch” not “everybody who quotes” save that much money. That is how companies can truthfully claim big savings. This illustrates why you should get as many quotes as possible. It is impossible to predict which auto insurance company will provide you with the cheapest Toyota Highlander insurance rates.
Toyota Highlander insurance rates have many determining factors
An important part of buying insurance is that you know the rating factors that go into determining the price you pay for car insurance. Knowing what impacts premium levels empowers consumers to make smart changes that could result in lower car insurance prices.
Listed below are some of the factors used by your company to calculate premiums.
- Bad driving skills means higher rates – Drivers with clean records receive lower rates than people who have multiple driving citations. Only having one citation may increase your cost twenty percent or more. Drivers with severe tickets like hit and run, DWI or reckless driving convictions are required to file a SR-22 to the state department of motor vehicles in order to drive a vehicle legally.
- A lapse in coverage is a bad thing – Letting your insurance expire will be a fast way to trigger a rate increase. And not only will insurance be more expensive, but not being able to provide proof of insurance may earn you a revoked license or a big fine.You may then be required to submit proof of financial responsibility or a SR-22 with your state motor vehicle department.
- More claims means more premium – Auto insurance companies generally give better rates to people who do not file claims often. If you file claims often, you can look forward to higher rates. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
- Add-on coverages can add up – There are a lot of extra bells and whistles you can purchase if you aren’t careful. Coverages like roadside assistance, better glass coverage and motor club memberships may be costing you every month. They may seem like a good idea when you first buy your policy, but if you don’t need them get rid of them and save.
- Better credit scores mean better rates – A driver’s credit score is a important factor in determining your rates. Drivers with excellent credit tend to file fewer claims and have better driving records than those with lower credit scores. So if your credit score is low, you could save money insuring your 2002 Toyota Highlander by improving your rating.
- Lower rates come with age – Young drivers are known to get distracted easily when driving so car insurance rates are higher. Adding a teen driver to your policy can really hurt. More mature drivers are more responsible, tend to cause fewer accidents and receive fewer citations.
- Car features impact rates – Owning a car with an alarm system can get you a discount on your car insurance. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent car theft.
- Bump up deductibles to save – Physical damage coverage, also known as collision and other-than-collision, is used to repair damage to your Toyota. Some instances where coverage would apply would be collision with another vehicle, damage from fire, and windstorm damage. Your deductibles are how much you are required to spend out-of-pocket in the event of a claim. The more money you are required to pay out-of-pocket, the lower your rates will be on Highlander insurance.
Cut your car insurance rates with discounts
Companies offering auto insurance don’t list all their discounts in a way that’s easy to find, so we researched both the well known as well as the least known ways to save on car insurance.
- Seat Belts Save – Requiring all passengers to use their safety belts could cut 10% or more on the medical payments or PIP coverage costs.
- Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to complete a driver education course if offered at their school.
- Safe Driver Discount – Drivers who don’t get into accidents may receive a discount up to 45% less on Highlander insurance than drivers with accident claims.
- Auto/Life Discount – Companies who offer life insurance give lower rates if you buy auto and life insurance together.
- Service Members Pay Less – Being deployed with a military unit could be rewarded with lower premiums.
- Braking Control Discount – Vehicles with anti-lock braking systems can reduce accidents and earn discounts up to 10%.
It’s important to note that most credits do not apply the whole policy. Most cut the cost of specific coverages such as comp or med pay. So despite the fact that it appears having all the discounts means you get insurance for free, it doesn’t quite work that way.
Car insurance companies that possibly offer some of the above discounts include:
- State Farm
It’s a good idea to ask all companies you are considering which discounts you may be entitled to. All car insurance discounts may not apply in every state.
You are unique and your auto insurance should be too
When choosing the right insurance coverage, there really is no “perfect” insurance plan. Every situation is different.
Here are some questions about coverages that may help you determine whether your personal situation may require specific advice.
- Am I covered when driving a rental car?
- Do I need rental car coverage?
- Is my teen driver covered when they drive my company car?
- Will filing a claim cost me more?
- Am I covered when pulling a rental trailer?
- Is my nanny covered when driving my vehicle?
- What is UM/UIM insurance?
- Am I covered if I wreck a rental car?
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, complete this form.
Coverages available on your policy
Learning about specific coverages of your insurance policy can be of help when determining the right coverages for your vehicles. The terms used in a policy can be ambiguous and reading a policy is terribly boring.
Collision insurance pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.
Collision can pay for claims like hitting a parking meter, crashing into a ditch, colliding with a tree and driving through your garage door. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to get cheaper collision coverage.
Medical expense coverage
Medical payments and Personal Injury Protection insurance provide coverage for expenses such as ambulance fees, nursing services and prosthetic devices. They are often used to fill the gap from your health insurance program or if you lack health insurance entirely. It covers you and your occupants as well as any family member struck as a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay
Uninsured or underinsured coverage
Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Toyota Highlander.
Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
Liability coverage protects you from injuries or damage you cause to other’s property or people that is your fault. It protects YOU against other people’s claims, and does not provide coverage for damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 50/100/50 which stand for a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.
Liability can pay for claims such as legal defense fees, repair bills for other people’s vehicles and medical expenses. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible.
Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things such as damage from getting keyed, a broken windshield, hitting a deer and a tree branch falling on your vehicle. The highest amount you can receive from a comprehensive claim 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.
A penny saved is a penny earned
As you prepare to switch companies, don’t be tempted to skimp on critical coverages to save a buck or two. There are many occasions where someone sacrificed uninsured motorist or liability limits only to regret that their decision to reduce coverage ended up costing them more. The aim is to purchase a proper amount of coverage at an affordable rate while still protecting your assets.
Cost effective 2002 Toyota Highlander insurance is available from both online companies and with local insurance agents, and you should compare price quotes from both to have the best rate selection. Some insurance providers do not offer online price quotes and these small, regional companies work with independent agents.
We just covered some good ideas how to save on insurance. It’s most important to understand that the more price quotes you have, the more likely it is that you will get a better rate. Consumers may even find the best price on insurance coverage is with a small mutual company.
To learn more, feel free to browse the following helpful articles:
- Teen Driver Statistics (Insurance Information Insitute)
- Rollover Crash FAQ (iihs.org)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Where can I buy Insurance? (Insurance Information Insitute)
- All About Airbag Safety (State Farm)
Frequently Asked Questions
How can I find the cheapest auto insurance rates for a 2002 Toyota Highlander in 2023?
To find the cheapest auto insurance rates for a 2002 Toyota Highlander in 2023, you can enter your ZIP code below to view companies that offer cheap auto insurance rates. By comparing quotes from different companies, you increase your chances of finding a lower rate.
Do drivers really save money when they switch auto insurance providers?
Auto insurance providers often advertise savings for drivers who switch to their company. However, these savings are not guaranteed for everyone. Different companies have different criteria for determining the best rates. Preferred risks, such as drivers with a clean record, good credit, and certain age groups, may receive the best prices. It’s important to get multiple quotes from different companies to determine which one can offer you the cheapest insurance rates.
What factors affect the insurance rates for a Toyota Highlander?
Several factors are considered when calculating insurance rates for a Toyota Highlander. These factors may include your age, driving record, credit history, location, coverage limits, deductibles, and more. It’s important to understand these rating factors as they can help you make informed decisions to potentially lower your insurance premiums.
Are there any discounts available to reduce car insurance rates?
Yes, many car insurance companies offer various discounts that can help reduce your insurance rates. These discounts can include safe driver discounts, multi-policy discounts, good student discounts, low-mileage discounts, and more. It’s recommended to inquire with each insurance company you’re considering to find out which discounts you may be eligible for.
What are the different coverages available for my auto insurance policy?
Auto insurance policies offer a range of coverages, including:
- Collision protection: Pays for damages resulting from colliding with another object or vehicle.
- Medical expense coverage: Helps cover medical expenses for injuries.
- Uninsured or underinsured coverage: Protects you when the at-fault party is uninsured or underinsured.
- Liability coverage: Protects you against damage or injuries you cause to others.
- Comprehensive protection: Covers damages from non-collision events such as theft, vandalism, and natural disasters.
It’s important to understand these coverages and choose the ones that suit your needs.
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