Cheapest 2012 Toyota Yaris Insurance Rates in 2023
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UPDATED: Jun 5, 2023
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Comparing car insurance rates is not a task consumers look forward to, but it’s required in every state to legally drive.
You need to price shop coverage quite often because insurance rates are rarely the same from one policy term to another. Even if you think you had the best rates for Yaris insurance last year you will most likely find a better rate today. Don’t believe everything you read about auto insurance online, so with this article, you’re going to get some excellent ideas to find affordable auto insurance.
More discounts equal less premium
Car insurance is not cheap, buy you may qualify for discounts to reduce the price significantly. A few discounts will automatically apply at the time of purchase, but some must be requested specifically prior to getting the savings.
- E-sign – A few companies will give a small break for buying your policy on their website.
- Homeowners Discount – Owning a house may trigger a insurance policy discount due to the fact that maintaining a home requires personal responsibility.
- Low Mileage Discounts – Low mileage vehicles could be rewarded with discounted rates on garaged vehicles.
- Payment Discounts – By paying your policy upfront instead of paying each month you could save up to 5%.
- No Accidents – Drivers who don’t have accidents pay much less compared to accident-prone drivers.
- Drivers Ed for Students – Require your teen driver to successfully complete driver’s ed class if offered at their school.
- Save with a New Car – Insuring a new car is cheaper due to better safety requirements for new cars.
A little note about advertised discounts, some of the credits will not apply to the entire cost. The majority will only reduce specific coverage prices like comp or med pay. So even though they make it sound like you can get free auto insurance, you won’t be that lucky. But all discounts will reduce the cost of coverage.
For a list of insurance companies who offer insurance discounts, click here.
Factors that can influence insurance rates for a Toyota Yaris
It’s important that you understand the factors that come into play when calculating the price you pay for insurance coverage. Knowing what impacts premium levels empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.
- Occupation reflects on rates – Jobs such as judges, business owners and accountants have higher rates than average due to job stress and lengthy work days. On the flip side, occupations like pilots, athletes and the unemployed get better rates for Yaris insurance.
- An active claims history can cost you – Insurance companies provide lower rates to policyholders who file claims infrequently. If you file claims often, you can definitely plan on either a policy non-renewal or much higher rates. Your insurance policy is intended to be relied upon for larger claims.
- Don’t sacrifice liability coverage – Your policy’s liability coverage provides coverage if a jury decides you are liable for causing damage or personal injury in an accident. Liability insurance provides for a legal defense which can be incredibly expensive. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so buy as much as you can afford.
- Your location is important – Being located in a small town is a positive aspect when talking about insurance coverage. Fewer drivers means reduced accidents. Drivers who live in large cities have more traffic problems and much longer commute distances. More time commuting can result in more accidents.
It’s not one size fits all
When it comes to buying the best auto insurance coverage for your personal vehicles, there really is no best way to insure your cars. Everyone’s needs are different.
For example, these questions might point out whether you could use an agent’s help.
- Do I have coverage for damage caused while driving under the influence?
- Do I need added coverage for expensive stereo equipment?
- Can my babysitter drive my car?
- What are the financial responsibility laws in my state?
- Should I rate my 2012 Toyota Yaris as pleasure use or commute?
- When does my teenage driver need to be added to my policy?
- Can I pay claims out-of-pocket if I buy high deductibles?
- Does medical payments coverage apply to all occupants?
If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an insurance agent. If you don’t have a local agent, fill out this quick form.
Don’t listen to company ads
Insurance coverage providers like GEICO, State Farm and Progressive consistently run ads in print and on television. They all make an identical promise about savings if you change to their company. How do they all make almost identical claims? This is how they do it.
All companies have a certain “appetite” for the driver that makes them money. For instance, a profitable customer might be over the age of 50, a clean driving record, and has great credit. A propective insured that hits that “sweet spot” receives the best rates and most likely will save quite a bit of money when switching.
Drivers who don’t measure up to these standards will be quoted a higher premium and this can result in the driver buying from a lower-cost company. The ad wording is “customers that switch” but not “drivers who get quotes” save that much money. That’s the way companies can truthfully make those claims.
This emphasizes why you need to get as many comparisons as possible. It’s impossible to know which insurance coverage company will give you the biggest savings on Toyota Yaris insurance.
Auto insurance 101
Knowing the specifics of a insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. Policy terminology can be confusing and nobody wants to actually read their policy.
Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses like pain medications, rehabilitation expenses, X-ray expenses, surgery and doctor visits. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants as well as being hit by a car walking across the street. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage
UM/UIM Coverage – This coverage gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Toyota Yaris.
Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage is a good idea. Normally these coverages do not exceed the liability coverage limits.
Comprehensive or Other Than Collision – This covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive can pay for claims such as fire damage, a broken windshield and hitting a deer. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.
Auto liability – This coverage can cover injuries or damage you cause to other’s property or people by causing an accident. It protects you against claims from 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. Your policy might show values of 100/300/100 that translate to $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged property. Alternatively, you may have a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability can pay for claims such as loss of income, bail bonds, attorney fees and pain and suffering. The amount of liability coverage you purchase is a personal decision, but you should buy as much as you can afford.
Collision coverage – This pays for damage to your Yaris from colliding with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage pays for claims such as crashing into a building, damaging your car on a curb, rolling your car and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. Another option is to bump up the deductible to save money on collision insurance.
Don’t break the bank
You just read a lot of ways to save on 2012 Toyota Yaris insurance. It’s most important to understand that the more you quote, the better likelihood of reducing your rate. You may even find the best price on insurance is with a company that doesn’t do a lot of advertising.
Insureds leave their current company for any number of reasons including policy non-renewal, delays in paying claims, policy cancellation or even lack of trust in their agent. No matter why you want to switch, switching insurance companies is actually quite simple.
As you restructure your insurance plan, don’t be tempted to reduce coverage to reduce premium. In too many instances, someone sacrificed liability coverage limits to discover at claim time they didn’t purchase enough coverage. Your focus should be to buy the best coverage you can find at an affordable rate, not the least amount of coverage.
More detailed insurance information is located by following these links:
- Teen Driver Statistics (Insurance Information Insitute)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Insitute)
- Teen Driving Statistics (GEICO)
- What Does No-Fault Insurance Cover? (Allstate)
- Safety Features for Your New Car (State Farm)
- Where can I buy Insurance? (Insurance Information Insitute)
Frequently Asked Questions
How often should I shop for auto insurance rates for my 2012 Toyota Yaris?
It’s recommended to shop for auto insurance rates regularly because rates can vary from one policy term to another. Even if you had the best rates for Yaris insurance last year, you might find a better rate today. Reviewing and comparing rates every six months to a year can help ensure you’re getting the most affordable coverage.
How can I find insurance companies that offer discounts for my 2012 Toyota Yaris?
To find insurance companies that offer discounts for your 2012 Toyota Yaris, you can use online resources that provide a list of companies offering insurance discounts. These resources can help you identify companies that provide specific discounts, such as e-sign discounts, homeowners discounts, low mileage discounts, payment discounts, no accident discounts, drivers ed for students discounts, and new car discounts.
Is it worth paying my auto insurance policy upfront instead of monthly?
Paying your auto insurance policy upfront instead of monthly can save you money. Many insurance companies offer payment discounts to policyholders who pay their entire policy premium in one lump sum. By taking advantage of this discount, you can potentially save up to 5% on your overall premium.
Does the location where I live affect my insurance rates for a 2012 Toyota Yaris?
Yes, your location can impact your insurance rates for a 2012 Toyota Yaris. Living in a small town with fewer drivers and less traffic congestion generally results in lower accident rates, which can lead to lower insurance rates. Conversely, living in a large city with more traffic problems and higher accident rates may result in higher insurance premiums.
Should I choose higher deductibles to save money on my 2012 Toyota Yaris insurance?
Choosing higher deductibles can potentially help you save money on your 2012 Toyota Yaris insurance. Higher deductibles mean you’ll pay more out of pocket in the event of a claim, but they also typically lead to lower premium costs. Consider your financial situation and weigh the potential savings against the amount you can comfortably afford to pay if you need to file a claim.
Can someone other than me, like a babysitter, drive my 2012 Toyota Yaris and be covered by my insurance policy?
In most cases, insurance policies provide coverage for occasional drivers who have your permission to operate your vehicle. This typically includes situations where a babysitter or a friend borrows your car with your consent. However, it’s important to check the specific terms and conditions of your insurance policy to ensure coverage extends to other drivers. If you frequently have additional drivers using your vehicle, you may need to add them as named drivers on your policy.
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