2006 Toyota Corolla Insurance Rates
Average insurance rates for a 2006 Toyota Corolla are $1,042 a year for full coverage. Comprehensive costs around $170 each year, collision insurance costs $270, and liability costs around $450. Buying a liability-only policy costs as low as $496 a year, and high-risk insurance costs around $2,250. Teenage drivers receive the highest rates at up to $4,146 a year.
Annual premium for full coverage: $1,042
Rate estimates for 2006 Toyota Corolla Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2006 Toyota Corolla models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For the average driver, prices range range from as low as $496 for only liability insurance to a high rate of $2,250 for a driver that may need high-risk insurance.
These differences show why all drivers should compare prices for a specific zip code and risk profile, instead of making a decision based on average rates.
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Recommended Companies for Cheap 2006 Toyota Corolla Insurance
I can’t think of anyone who looks forward to paying for auto insurance, in particular when the price is too high.
Many insurers vie for your hard-earned dollar, so it’s not easy to compare every insurance company and get the definite lowest rate
You should take the time to do rate comparisons occasionally because prices go up and down regularly. Even if you got the best rates on Corolla insurance six months ago a different company probably has better rates today. Block out anything you think you know about auto insurance because we’re going to demonstrate how to quote online to properly buy coverages while reducing your premium.
If you have car insurance now, you should be able to reduce your rates substantially using these techniques. Choosing the best insurance company for you is not that difficult. But car owners should learn how the larger insurance companies sell insurance online and apply this information to your search.
Recommended Companies for the Best Insurance Rates
Discounts are basically free money
Companies offering auto insurance don’t list all their discounts very clearly, so we researched both the well known and the harder-to-find discounts you could be receiving.
- Theft Prevention System – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and earn discounts up to 10%.
- Passive Restraints and Air Bags – Vehicles equipped with air bags or automatic seat belts can receive discounts of 20% or more.
- Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes are safer to drive and qualify for as much as a 10% discount.
- Multi-car Discount – Buying coverage for more than one vehicle on the same insurance coverage policy could earn a price break for each car.
- Early Switch Discount – Some companies give discounts for buying a policy before your current policy expires. It’s a savings of about 10%.
- Safe Drivers – Safe drivers can pay as much as 50% less on Corolla insurance than their less cautious counterparts.
- New Car Discount – Buying coverage on a new vehicle is cheaper compared to insuring an older model.
- Drivers Education – Require your teen driver to enroll in driver’s education if it’s offered in school.
- No Charge for an Accident – Some insurance companies allow you one accident before your rates go up as long as you don’t have any claims for a certain period of time.
It’s important to understand that most credits do not apply to all coverage premiums. Most cut specific coverage prices like collision or personal injury protection. So when the math indicates it’s possible to get free car insurance, it just doesn’t work that way.
For a list of companies with discount insurance coverage rates, follow this link.
Free Quotes for Insurance Coverage
To find the best insurance coverage prices, there are several ways to compare rate quotes from local insurance coverage companies. One of the best ways to compare 2006 Toyota Corolla insurance prices consists of shopping online. This can be accomplished in several different ways.
- The most efficient way consumers can make multiple comparisons is a comparison rater form click here to open form in new window. This form eliminates the need for separate forms for every insurance coverage company. Just one form gets rate comparisons from many national carriers.
- A more time consuming way to shop for insurance coverage online consists of going to the website for each individual company to complete a price quote. For instance, let’s assume you want to compare Auto-Owners, Progressive and American Family. To find out each rate you need to take the time to go to each site and enter your information, which is why the first method is more popular.
For a handy list of car insurance company links in your area, click here.
- The least efficient method of comparing rate quotes is driving to different agent offices. The internet makes this process obsolete unless you prefer the trained guidance of a licensed agent. You can, however, price shop online but buy from a local insurance agent. We’ll cover that shortly.
It’s up to you which method you use, but make absolute certain that you use the exact same coverage limits and deductibles for each price quote. If the quotes have differing limits you will not be able to truly determine the lowest rate. Just a small difference in limits could mean much higher rates. And when comparison shopping, quoting more will improve the odds of getting lower pricing.
Which insurance is the “right” coverage?
When it comes to buying the right insurance coverage for your personal vehicles, there is no best way to insure your cars. Every situation is different and your policy should reflect that. For example, these questions might point out if your situation may require specific advice.
- Does medical payments coverage apply to all occupants?
- Does my insurance cover my expensive audio equipment?
- Do I get a pro-rated refund if I cancel my policy early?
- Do all my vehicles need collision coverage?
- Do I pay less for low miles?
- When should I remove comp and collision on my 2006 Toyota Corolla?
- Why am I required to buy liability insurance?
- What is medical payments coverage?
- What discounts do I qualify for?
- Can my teen driver be rated on a liability-only vehicle?
If you’re not sure about those questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, complete this form or go to this page to view a list of companies.
Car insurance policy coverages for a 2006 Toyota Corolla
Understanding the coverages of car insurance aids in choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and coverage can change by endorsement. Shown next are the normal coverages available from car insurance companies.
Comprehensive auto coverage
Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as vandalism, damage from getting keyed and a broken windshield. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Coverage for collisions
This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against things like crashing into a building, crashing into a ditch, damaging your car on a curb, rolling your car and sideswiping another vehicle. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible to bring the cost down.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries and also any damage incurred to your Toyota Corolla.
Since many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.
Liability insurance can cover injuries or damage you cause to people or other property by causing an accident. This insurance protects YOU from claims by other people. It does not cover your own vehicle damage or injuries.
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. You commonly see limits of 25/50/25 that translate to $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.
Liability can pay for claims such as repair bills for other people’s vehicles, loss of income, structural damage and attorney fees. How much coverage you buy is a personal decision, but consider buying as much as you can afford.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance pay for bills for hospital visits, X-ray expenses and funeral costs. They are often used in conjunction with a health insurance program or if you lack health insurance entirely. Coverage applies to you and your occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay
Summing up your auto insurance search
In this article, we presented some good ideas how you can shop for 2006 Toyota Corolla insurance online. The key concept to understand is the more rate quotes you have, the higher your chance of finding lower rates. You may even find the best price on auto insurance is with a company that doesn’t do a lot of advertising. Some small companies may often insure only within specific states and give getter rates as compared to the big name companies such as State Farm, GEICO and Nationwide.
When shopping online for auto insurance, do not buy lower coverage limits just to save a few bucks. There have been many situations where consumers will sacrifice liability coverage limits only to regret at claim time that it was a big error on their part. Your aim should be to purchase a proper amount of coverage at an affordable rate, not the least amount of coverage.
For more information, feel free to visit these articles:
- Frontal Crash Tests (iihs.org)
- Understanding Your Insurance Deductible (Insurance Information Insitute)
- Teen Driving Statistics (iihs.org)
- Auto Insurance Learning Center (State Farm)
- Protecting Teens from Drunk Driving (Insurance Information Insitute)
- Tread Depth and Tire Safety (State Farm)
Find the Cheapest Quotes in Your Area
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Rates by U.S. City
|New York City, NY||$2,028|
|Los Angeles, CA||$1,749|
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Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$67|
|5-yr Claim Free||$66|
|Paid in Full/EFT||$40|
Discounts are estimated and may not be available from every company or in every state.