2008 Toyota Tacoma Insurance Cost – 5 Tricks for Best Prices

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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: Dec 3, 2021

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Looking for lower insurance rates for your Toyota Tacoma? Are you a victim of high-priced insurance? Trust us, there are a lot of people just like you who feel imprisoned by their insurance policy.

There is such a variety of insurance companies to buy insurance from, and although it’s a good thing to have multiple companies, lots of choices makes it harder to compare rates and cut insurance costs.

Take these five discounts and save

Car insurance is not cheap, but companies offer discounts that can drop the cost substantially. Certain discounts will be applied when you purchase, but some may not be applied and must be asked about before you will receive the discount.

  • Seat Belts Save – Requiring all passengers to wear their seat belts can save 10% or more off your PIP or medical payments premium.
  • Service Members Pay Less – Having a deployed family member can result in better rates.
  • Resident Student – Any of your kids who attend school more than 100 miles from home and don’t have a car may be able to be covered for less.
  • Multiple Vehicles – Buying insurance for multiple vehicles with the same company qualifies for this discount.
  • Drive Safe and Save – Drivers who don’t get into accidents can pay as much as 50% less for Tacoma insurance than less cautious drivers.

It’s important to note that some of the credits will not apply to your bottom line cost. Most only apply to specific coverage prices like comp or med pay. So even though they make it sound like all those discounts means the company will pay you, it doesn’t quite work that way. But all discounts will reduce your premiums.

Companies who might offer these money-saving discounts may include but are not limited to:

  • State Farm
  • Esurance
  • Progressive
  • Liberty Mutual
  • Auto-Owners Insurance
  • GEICO

Double check with every prospective company which discounts you may be entitled to. Some discounts might not apply in your state.

Which policy gives me the best coverage?

When buying the right insurance coverage for your vehicles, there really is not a cookie cutter policy. Everyone’s situation is unique and your policy should reflect that. These are some specific questions might point out if your insurance needs could use an agent’s help.

  • What is UM/UIM insurance?
  • What is roadside assistance coverage?
  • Does my policy cover my teen driver if they drive my company car?
  • Are my tools covered if they get stolen from my vehicle?
  • Should I have a commercial auto policy?
  • Does medical payments coverage apply to all occupants?
  • Is there coverage for injuries to my pets?
  • When would I need rental car insurance?
  • Is my ex-spouse still covered by my policy?

How can Progressive, GEICO, Allstate and State Farm save drivers who switch?

Progressive, GEICO, Allstate and State Farm constantly bombard you with ads on TV and radio. All the companies say the same thing that you’ll save big if you switch to their company. How does each company claim to save you money? It’s all in the numbers.

All companies can use profiling for the type of customer that earns them a profit. An example of a driver they prefer could be between the ages of 40 and 55, has no driving citations, and drives newer vehicles. A driver who meets those qualifications gets the lowest rates and most likely will cut their rates substantially.

Potential customers who don’t meet this ideal profile must pay higher rates which usually ends up with the customer not buying. The ad wording is “drivers who switch” not “people who quote” save that much money. This is how companies can state the savings.

This illustrates why you absolutely need to compare many company’s rates. It’s impossible to know which auto insurance company will provide you with the cheapest Toyota Tacoma insurance rates.

What car insurance coverages do you need?

Knowing the specifics of car insurance can be of help when determining the right coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Below you’ll find typical coverages found on the average car insurance policy.

Auto collision coverage

Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things such as rolling your car, hitting a mailbox, crashing into a building, damaging your car on a curb and colliding with a tree. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible to save money on collision insurance.

Comprehensive protection

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like damage from a tornado or hurricane, hail damage, falling objects, damage from getting keyed and a broken windshield. The most your car insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Medical expense coverage

Coverage for medical payments and/or PIP kick in for short-term medical expenses for surgery, ambulance fees, dental work, funeral costs and X-ray expenses. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. Coverage applies to you and your occupants as well as getting struck while a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Uninsured or underinsured coverage

This protects you and your vehicle from other drivers when they do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Toyota Tacoma.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Coverage for liability

This coverage protects you from damages or injuries you inflict on a person or their property by causing an accident. It protects you from legal claims by others, and doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see values of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and $100,000 of coverage for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.

Liability coverage pays for things such as attorney fees, court costs, pain and suffering and medical expenses. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as high a limit as you can afford.

Stretch your dollar

As you restructure your insurance plan, never skimp on coverage in order to save money. There have been many situations where consumers will sacrifice physical damage coverage only to find out that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy enough coverage at an affordable rate while not skimping on critical coverages.

You just learned some good ideas how you can lower your 2008 Toyota Tacoma insurance rates. The key thing to remember is the more providers you compare, the better chance you’ll have of finding lower rates. Drivers may discover the best price on insurance coverage is with a company that doesn’t do a lot of advertising. These companies can often insure niche markets at a lower cost as compared to the big name companies such as Allstate or State Farm.

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