Toyota Toyota Prius Insurance Rates
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UPDATED: Nov 29, 2021
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Have you fallen victim to an overpriced insurance coverage policy? Trust us, you’re not the only one.
Consumers have many insurers to insure vehicles with, and even though it’s nice to have a selection, lots of choices makes it harder to locate the cheapest rates.
You need to price shop coverage occasionally because prices are usually higher with each renewal. Even if you think you had the best price for Prius insurance a year ago the chances are good that you can find a lower rate today. Ignore everything you know about insurance coverage because we’re going to demonstrate how to quote online to buy cheaper insurance coverage.
This article will tell you how to get online quotes. If you currently have car insurance, you stand a good chance to be able to cut costs considerably using this strategy. Although vehicle owners do need to know how big insurance companies price insurance differently and use this information to your advantage.
Discounts mean cheaper Toyota Prius insurance rates
The price of auto insurance can be rather high, but there could be available discounts to help bring down the price. Certain discounts will be applied when you complete an application, but a few need to be specifically requested before you get the savings.
- Passive Restraints and Air Bags – Cars that have air bags and/or automatic seat belt systems can get savings of 20% or more.
- Club Memberships – Belonging to a qualifying organization could qualify you for a break on your policy for Prius insurance.
- Pay Upfront and Save – If paying your policy premium upfront instead of monthly or quarterly installments you may reduce your total bill.
- Lower Rates for Military – Being deployed with a military unit could mean lower rates.
- Life Insurance Discount – Some companies give a discount if you purchase life insurance from them.
- New Vehicle Savings – Adding a new car to your policy is cheaper since new cars are generally safer.
- Seat Belt Usage – Using a seat belt and requiring all passengers to wear their seat belts can save 10% or more on the medical payments or PIP coverage costs.
- Anti-theft System – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
- Accident Waiver – A handful of insurance companies allow you one accident before hitting you with a surcharge if your claims history is clear for a particular time prior to the accident.
- Anti-lock Brake System – Cars that have steering control and anti-lock brakes are safer to drive and will save you 10% or more.
Consumers should know that some credits don’t apply the whole policy. A few only apply to the cost of specific coverages such as comprehensive or collision. So even though they make it sound like having all the discounts means you get insurance for free, you won’t be that lucky. But all discounts will bring down your premiums.
To see a list of providers with discount car insurance rates, click here.
Tailor your coverage to you
When it comes to choosing adequate coverage for your personal vehicles, there really is not a best way to insure your cars. Your needs are not the same as everyone else’s and your policy should reflect that. For example, these questions may help highlight whether your personal situation could use an agent’s help.
- Why does it cost so much to insure a teen driver?
- I have good health insurance, so how much medical payments coverage do I need?
- When can I cancel my policy?
- Am I missing any policy discounts?
- How much liability do I need to cover my assets?
- Am I covered when driving a rental car?
- When should I drop full coverage on my 2004 Toyota Prius?
- Is my dog or cat covered if injured in an accident?
- Will my rates increase for filing one claim?
- What is PIP insurance?
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If it’s difficult to answer those questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.
Drivers who switch save $394 a year? Really?
Companies like State Farm and Allstate constantly bombard you with ads on television and other media. All the ads say the same thing that you’ll save big if you switch to them. How do they all make the same claim? This is how they do it.
All companies have a certain “appetite” for the right customer that earns them a profit. A good example of a driver they prefer could possibly be over the age of 50, has no driving citations, and has great credit. A propective insured that hits that “sweet spot” will get the preferred rates and therefore will save when they switch companies.
Drivers who don’t meet the requirements must pay a higher premium which leads to business going elsewhere. The ads state “people who switch” but not “drivers who get quotes” save money. That’s the way companies can truthfully make the claims of big savings.
This illustrates why you should quote coverage with many companies. It’s impossible to know which company will fit your personal profile best.
Car insurance 101
Knowing the specifics of your insurance policy can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Listed below are typical coverages available from insurance companies.
Uninsured/Underinsured Motorist coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your Toyota Prius.
Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Usually the UM/UIM limits do not exceed the liability coverage limits.
Comprehensive insurance pays for damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like hitting a bird, hail damage, vandalism and fire damage. The most your insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Medical payments coverage and PIP
Personal Injury Protection (PIP) and medical payments coverage pay for bills for doctor visits, funeral costs, dental work and EMT expenses. They can be used in conjunction with a health insurance program or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is only offered in select states and may carry a deductible
Liability car insurance
This can cover injuries or damage you cause to a person or their property that is your fault. This coverage protects you against claims from other people. It does not cover 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. As an example, you may have liability limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability insurance covers claims such as medical services, structural damage, repair bills for other people’s vehicles and emergency aid. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as much as you can afford.
Auto collision coverage
Collision coverage will pay to fix damage to your Prius caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things like hitting a parking meter, damaging your car on a curb, sideswiping another vehicle and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to bring the cost down.
Shop around and save
We just covered many ways to reduce 2004 Toyota Prius insurance prices online. It’s most important to understand that the more you quote, the better your comparison will be. You may even find the lowest rates come from a small local company. They often have lower prices on specific markets as compared to the big name companies such as State Farm or Progressive.
The cheapest insurance is definitely available on the web and with local insurance agents, so you should compare both to have the best selection. Some companies do not offer online price quotes and usually these smaller companies provide coverage only through local independent agents.
Additional information is available on the following sites:
- Choosing a Car for Your Teen (State Farm)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Collision Coverage (Liberty Mutual)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)
- Older Drivers FAQ (iihs.org)
- Uninsured Motorist Statistics (Insurance Information Insitute)
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