2011 Toyota Corolla Insurance Rates
Average insurance rates for a 2011 Toyota Corolla are $1,218 a year for full coverage insurance. Comprehensive insurance costs around $220, collision costs $380, and liability costs around $460. Buying a liability-only policy costs as low as $510 a year, with high-risk insurance costing $2,638 or more. Teenage drivers receive the highest rates at $4,740 a year or more.
Annual premium for full coverage: $1,218
Rate estimates for 2011 Toyota Corolla Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2011 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 a middle-aged driver, prices range go from as low as $510 for just liability insurance to a much higher rate of $2,638 for a high risk driver.
These differences illustrate why anyone shopping for car insurance 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 2011 Toyota Corolla Insurance
Want the cheapest insurance coverage rates for your Toyota Corolla? Have you had enough of trying to scrape together enough money to pay your car insurance bill each month? Your situation is no different than many other consumers.
Drivers have multiple car insurance companies to purchase coverage from, and although it’s nice to have a choice, lots of choices makes it harder to locate the cheapest rates.
How to Compare Auto Insurance Quotes
To find the best auto insurance prices, there are several ways to compare quotes and find the best price. One of the best ways to compare 2011 Toyota Corolla insurance prices is to get quotes online. This is very easy and can be done in just a few minutes using one of these methods.
- The easiest and least time consuming way to get the best comparison quotes is an all-inclusive rate comparison click here to open form in new window. This type of form keeps you from doing separate quotation requests for each company you want a rate for. One quote request gets rate comparisons from several companies.
- A harder way to shop for auto insurance online consists of visiting the website for each individual company to complete their respective quote request forms. For instance, we’ll assume you want to compare Liberty Mutual, State Farm and Farmers. To get each rate you have to take the time to go to each site and enter your policy data, which is why the first method is more popular.
For a list of links to companies insuring cars in your area, click here.
- The hardest way to get comparison rates is to waste gas driving to and from local insurance agencies. Buying insurance online has reduced the need for local agents unless you have a need for the professional advice only provided by licensed agents. It is possible to get prices online and get advice from an agent in your area and we’ll cover that in a bit.
It’s up to you how you get prices quotes, just make absolute certain that you use apples-to-apples coverages on every quote you get. If each company quotes unequal deductibles or liability limits then you won’t be able to determine which rate is truly the best. Just a small difference in coverage limits can result in a big premium difference. And when comparing auto insurance rates, know that obtaining a wide range of quotes helps locate lower pricing.
Recommended Companies for the Best Insurance Rates
Discounts are basically free money
Companies offering auto insurance don’t list every discount very well, so we break down some of the best known and also the lesser-known discounts you could be receiving.
- Student in College – Children who attend school more than 100 miles from home and do not have a car can receive lower rates.
- Air Bag Discount – Vehicles equipped with air bags or motorized seat belts can qualify for discounts up to 30%.
- Multiple Policy Discount – When you combine your home and auto insurance with one insurance company you may save 10% to 20% off each policy.
- Anti-theft Discount – Vehicles with anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
- Multi-car Discount – Buying insurance for more than one vehicle on one policy can get a discount on all vehicles.
- Auto/Life Discount – Select insurance companies reward you with a break if you buy a life insurance policy as well.
- Save over 55 – Older drivers may be able to get better insurance coverage rates on Corolla coverage.
- Safety Course Discount – Taking part in a course teaching defensive driving skills can save you 5% or more if your company offers it.
Consumers should know that some credits don’t apply to the entire policy premium. Most only apply to individual premiums such as physical damage coverage or medical payments. Even though it may seem like you can get free auto insurance, it doesn’t quite work that way.
For a list of insurers who offer insurance coverage discounts, click this link.
Why you might be paying too much to insure your Toyota Corolla
Consumers need to have an understanding of the rating factors that go into determining your insurance rates. Having a good understanding of what controls the rates you pay enables informed choices that can help you get lower insurance prices.
Listed below are some of the items insurance companies consider when setting your rates.
- Bump up deductibles to save – Physical damage coverage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your Toyota. A few examples of covered claims are colliding with a building, collision with an animal, and burglary. The deductibles are how much you are willing to pay in the event of a claim. The more expense you have to pay, the less your insurance will be on Corolla coverage.
- Men are more aggressive – Statistics demonstrate that women are safer drivers than men. However, don’t assume that women are BETTER drivers than men. Both sexes cause accidents at about the same rate, but the male of the species cause more damage and cost insurance companies more money. Men also tend to get more serious tickets like reckless driving and DUI.
- Frequent insurance claims increase rates – If you frequently file small claims, you can expect either policy cancellation or increased premiums. Car insurance companies give discounts to people who do not file claims often. Your insurance policy is intended for the bigger claims that can’t be paid out-of-pocket.
- A lapse in coverage is a bad thing – Driving with no insurance is a misdemeanor and you will pay a penalty because you let your coverage lapse. Not only will rates go up, but not being able to provide proof of insurance will get you a steep fine or even jail time.
- How many coverages with the same company – Some insurers will award you with lower prices to policyholders who consolidate policies with them in the form of a multi-policy discount. Even if you’re getting this discount you may still want to comparison shop to make sure you are getting the best deal.
- Tickets mean higher rates – Even a single speeding ticket can boost insurance rates by as much as thirty percent. Careful drivers tend to pay less for car insurance than bad drivers. Drivers who get serious violations such as reckless driving, hit and run or driving under the influence may be required to file a proof of financial responsibility form (SR-22) with their state DMV in order to continue driving.
- Better credit scores mean better rates – Your credit rating is a large factor in determining your rates. Drivers who have good credit tend to be better drivers and file fewer claims than those with lower ratings. If your credit rating can use some improvement, you could be paying less to insure your 2011 Toyota Corolla by improving your credit score.
- Liability insurance protects assets – Liability coverage is the coverage that protects you when a court rules you are at fault for personal injury or accident damage. It will provide legal defense coverage starting from day one. Liability insurance is quite affordable when compared with rates for comp and collision, so buy as much as you can afford.
Which insurance is the “right” coverage?
When it comes to choosing proper insurance coverage, there isn’t really a single plan that fits everyone. Everyone’s situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that may help highlight if your insurance needs might need an agent’s assistance.
- What is the rate difference between pleasure use and commuting?
- Am I insured when driving a different vehicle?
- What is the minimum liability in my state?
- Am I covered if I hit a deer?
- Can I rate high risk drivers on liability-only vehicles?
- Can my teen drive my company car?
- Does coverage extend to Mexico or Canada?
- What discounts do I qualify for?
- Can I rent a car in Mexico?
- Do I need medical payments coverage since I have good health insurance?
If you’re not sure about those questions, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.
Don’t listen to company ads
GEICO, State Farm and Progressive consistently run ads on TV and radio. All the companies have a common claim that you’ll save big if you change your coverage to them. How do they all make the same claim?
Different companies can use profiling for the right customer that earns them a profit. A good example of a preferred risk could possibly be over the age of 50, insures multiple vehicles, and has a high credit rating. A customer that hits that “sweet spot” will qualify for the lowest rates and as a result will probably save when switching.
Drivers who don’t meet the requirements will be charged a more expensive rate which leads to business going elsewhere. The ads say “customers who switch” but not “drivers who get quotes” save that much. That’s the way companies can advertise the savings. That is why drivers should quote coverage with many companies. It is impossible to predict which insurance companies will have the lowest Toyota Corolla insurance rates.
The coverage is in the details
Knowing the specifics of auto insurance can help you determine which coverages you need at the best deductibles and correct limits. Auto insurance terms can be ambiguous and coverage can change by endorsement. Below you’ll find typical coverages found on most auto insurance policies.
Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills for doctor visits, funeral costs, dental work, hospital visits and EMT expenses. The coverages can be used to fill the gap from your health insurance program or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Uninsured and underinsured coverage – This protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.
Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Collision coverage – Collision insurance pays for damage to your Corolla resulting from colliding with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims like colliding with another moving vehicle, crashing into a building, rolling your car and driving through your garage door. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Another option is to bump up the deductible to get cheaper collision coverage.
Comprehensive coverages – This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like rock chips in glass, theft and a broken windshield. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Liability insurance – This will cover damage or injury you incur to a person or their property by causing an accident. It protects you against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.
Liability can pay for claims like court costs, medical services, repair costs for stationary objects, loss of income and pain and suffering. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase higher limits if possible.
Take this to the bank
Lower-priced 2011 Toyota Corolla insurance is definitely available online and also from your neighborhood agents, and you need to price shop both so you have a total pricing picture. Some companies may not provide online quoting and usually these smaller companies provide coverage only through local independent agents.
As you restructure your insurance plan, it’s a bad idea to skimp on critical coverages to save a buck or two. In many cases, drivers have reduced physical damage coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to buy the best coverage you can find at an affordable rate, not the least amount of coverage.
We just showed you a lot of tips how to shop for insurance online. The most important thing to understand is the more rate comparisons you have, the better chance you’ll have of finding lower rates. You may even discover the biggest savings come from a lesser-known regional company. They may only write in your state and offer lower rates compared to the large companies like GEICO and State Farm.
To learn more, link through to the articles below:
- Understanding Rental Car Insurance (Insurance Information Insitute)
- What Auto Insurance is Cheapest for a Toyota Corolla in Philadelphia? (PhillyQuotes.com)
- Coverage Information (Progressive Insurance)
- Information for Teen Drivers (GEICO)
- Neck Injury FAQ (iihs.org)
Find the Cheapest Quotes in Your Area
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Rates by U.S. City
|New York City, NY||$1,926|
|Los Angeles, CA||$2,079|
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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||$84|
|5-yr Claim Free||$78|
|Paid in Full/EFT||$51|
Discounts are estimated and may not be available from every company or in every state.