Toyota Toyota Prius Insurance Rates
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UPDATED: Nov 29, 2021
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Want better insurance coverage rates for your Toyota Prius? Scraping up a payment for overpriced Toyota Prius insurance can drain your checking account and put a big crunch on your finances. Comparison shopping is a smart way to lower your monthly bill.
Many insurance companies vie for your insurance dollar, and because of this it can be hard to compare car insurance companies to find the lowest rate
You should take the time to compare rates once or twice a year because prices fluctuate regularly. If you had the lowest rates on Prius coverage a couple years back other companies may now be cheaper. So block out anything you think you know about insurance coverage because you’re going to get a crash course in the quickest way to find lower rates on insurance coverage.
How to Compare Auto Insurance Rates
To find the best auto insurance prices, there are several ways to compare quotes and find the best price. The simplest method to find the lowest 2003 Toyota Prius rates is to perform an online rate comparison. This can be done in several different ways.
- The recommended way consumers can analyze rates is to use a rate comparison form (click to open form in new window). This method eliminates the need for separate quotes for each company you want a rate for. Taking the time to complete one form gets rate comparisons direct from many companies.
- A more time consuming way to analyze rates is to manually visit the website for every company you want to comare and fill out their own quote form. For example, let’s say you want to compare rates from Progressive, State Farm and Farmers. You would have to go to every website and enter your information, which is why the first method is quicker. For a list of links to companies insuring cars in your area, click here.
- The least efficient way of getting rate comparisons is driving around to local insurance agencies. Buying insurance online can eliminate the need for a local agent unless you have a need for the professional advice of a licensed agent. However, consumers can compare online quotes but buy from a local insurance agent. We’ll cover that shortly.
It doesn’t matter which method you choose, just double check that you are using apples-to-apples coverage limits and deductibles on every quote you get. If you compare different deductibles then you won’t be able to determine the lowest rate for your Toyota Prius. Quoting even small variations in coverage limits may result in a large different in cost. Just remember that comparing a large number of companies gives you a better chance of getting the best rates.
Misconceptions in insurance advertisements
Insurance providers like Allstate, GEICO and Progressive regularly use ads on television and other media. They all have a common claim that you’ll save big if you move to them. How do they all say the same thing?
All companies have a certain “appetite” for the type of customer that is profitable for them. An example of a profitable customer might be a mature driver, a clean driving record, and drives less than 10,000 miles a year. A propective insured who fits that profile receives the best rates and as a result will probably pay quite a bit less when switching companies.
Consumers who do not match the “perfect” profile will be quoted higher prices which leads to the customer not buying. The ads say “customers who switch” not “everyone that quotes” save money. That is how companies can make those claims.
This emphasizes why you need to get as many quotes as possible. It’s not possible to predict which company will have the lowest Toyota Prius insurance rates.
Discounts are basically free money
Insurance can cost an arm and a leg, but discounts can save money and there are some available that can drop the cost substantially. Some trigger automatically at the time of quoting, but lesser-known reductions have to be requested specifically prior to getting the savings.
- Drive Less and Save – Keeping the miles down on your Toyota can qualify you for better rates on cars that stay parked.
- Student in College – Kids in college who are attending college and do not have access to a covered vehicle may qualify for this discount.
- Passive Restraints – Cars that have air bags or motorized seat belts can receive discounts up to 30%.
- Save over 55 – If you’re over the age of 55, you may receive better insurance rates on Prius coverage.
- Defensive Driving Course – Completing a course in driver safety could save 5% or more depending on where you live.
- Military Rewards – Having a family member in the military may qualify for rate reductions.
- Early Switch Discount – A few companies offer discounts for switching policies prior to your current policy expiration. It’s a savings of about 10%.
- Sign Online – Some insurance companies will give a small break for buying your policy over the internet.
- Government Employees – Being employed by or retired from a federal job could cut as much as 10% off on Prius coverage with certain companies.
As a disclaimer on discounts, most credits do not apply to the entire policy premium. A few only apply to individual premiums such as collision or personal injury protection. So even though it sounds like all those discounts means the company will pay you, insurance companies aren’t that generous. Any amount of discount will bring down your overall premium however.
Car insurance companies that may offer these benefits are:
- American Family
- 21st Century
- Farmers Insurance
It’s a good idea to ask all companies you are considering which discounts they offer. Savings might not be offered in every state.
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Which insurance is the “right” coverage?
When it comes to choosing the best insurance coverage coverage for your vehicles, there is no “perfect” insurance plan. Each situation is unique so your insurance needs to address that. These are some specific questions can help discover if your insurance needs would benefit from an agent’s advice.
- What if I total my 2003 Toyota Prius and owe more than it’s worth?
- Which companies will insure high-risk drivers?
- Can I afford low physical damage deductibles?
- How much liability coverage do I need in my state?
- Does insurance cover tools stolen from my truck?
- What are the best liability limits?
If it’s difficult to answer those questions, you might consider talking to an insurance agent. To find an agent in your area, simply complete this short form or go to this page to view a list of companies.
Car insurance coverages for a Toyota Prius
Having a good grasp of a insurance policy helps when choosing appropriate coverage for your vehicles. Insurance terms can be confusing and reading a policy is terribly boring. Listed below are typical coverage types offered by insurance companies.
This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things like hitting a bird, a broken windshield, fire damage, damage from flooding and damage from a tornado or hurricane. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
This pays for damage to your Prius resulting from a collision with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision coverage protects against things such as driving through your garage door, backing into a parked car, colliding with a tree and crashing into a ditch. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible in order to get cheaper collision rates.
Liability coverage protects you from damage or injury you incur to people or other property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 25/50/25 which stand for a limit of $25,000 per injured person, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Another option is one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.
Liability can pay for claims like structural damage, medical services and repair costs for stationary objects. How much coverage you buy is a personal decision, but you should buy as large an amount as possible.
Coverage for medical payments
Med pay and PIP coverage pay for bills like dental work, chiropractic care, surgery, ambulance fees and rehabilitation expenses. They can be utilized in addition to your health insurance program or if you lack health insurance entirely. They cover both the driver and occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states and may carry a deductible
Uninsured and underinsured coverage
Your UM/UIM coverage provides protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries to you and your family as well as damage to your Toyota Prius.
Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these limits are set the same as your liablity limits.
More effort can pay off
We just presented quite a bit of information on how to get a better price on 2003 Toyota Prius insurance. The most important thing to understand is the more rate comparisons you have, the higher the chance of saving money. You may be surprised to find that the best price on auto insurance is with a lesser-known regional company. Regional companies may only write in your state and offer lower rates compared to the large companies like Allstate and Progressive.
Low-cost insurance can be purchased on the web as well as from independent agents, and you should be comparing both to have the best selection. Some insurance providers don’t offer online price quotes and most of the time these small insurance companies sell through independent agents.
When shopping online for auto insurance, it’s very important that you do not skimp on coverage in order to save money. In many cases, an insured dropped liability limits or collision coverage and discovered at claim time that the few dollars in savings costed them thousands. Your goal should be to purchase a proper amount of coverage at the best price while still protecting your assets.
More tips and info about auto insurance can be read at these sites:
- Medical Payments Coverage (Liberty Mutual)
- A Tree Fell on Your Car: Now What? (Allstate)
- Parking Tips to Reduce Door Dings (State Farm)
- Five Tips to Save on Auto Insurance (Insurance Information Insitute)
- How Much Auto Coverage do I Need? (Insurance Information Insitute)
- Think You’re a Safe Driver? (State Farm)
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