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2014 Scion iQ Insurance Rates

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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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UPDATED: Nov 23, 2017

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No one in their right mind enjoys paying for insurance coverage, especially when the cost is way too high.

There is such a variety of auto insurance companies to purchase coverage from, and though it is a good thing to have a choice, too many choices makes it more difficult to compare rates and cut insurance costs.

It’s a good idea to compare prices at least once a year due to the fact that insurance rates go up and down regularly. If you had the best rates on iQ insurance last year you can probably find a better price now. Starting right now, block out anything you think you know about insurance coverage because I’m going to teach you how to quote online to save on insurance coverage.

Finding the best rates is not that difficult. In a nutshell, everyone who shops for insurance coverage will most likely be able to reduce their rates. But consumers must understand the way companies price insurance differently and use this information to your advantage.

Complexity of Scion iQ insurance rates

It’s important that you understand the rating factors that help determine your insurance coverage rates. Understanding what impacts premium levels allows you to make educated decisions that will entitle you to better insurance coverage rates.

  • Careful drivers pay lower rates – A bad driving record has a big impact on rates. Drivers who don’t get tickets tend to pay less for car insurance compared to drivers with tickets. Even one ticket can bump up the cost by twenty percent. If you have flagrant violations such as DUI or reckless driving may find they need to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to keep their license.
  • More claims means more premium – Auto insurance companies provide discounts to drivers who do not rely on their insurance for small claims. If you are a frequent claim filer, you can expect either higher rates or even cancellation. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
  • Poor credit can mean higher rates – Having a bad credit score is a huge factor in your rate calculation. Drivers with excellent credit tend to file fewer claims and have better driving records as compared to drivers with lower ratings. If your credit score is low, you could potentially save money when insuring your 2014 Scion iQ by improving your rating.
  • Low deductibles can be expensive – The deductibles define the amount you are required to spend out-of-pocket before a claim is paid by your company. Coverage for physical damage, termed comprehensive and collision coverage on your policy, insures against damage to your car. Some examples of claims that would be covered are running into the backend of another car, vandalism, and rolling your vehicle. The higher the amount the insured has to pay upfront, the less your company will charge you for insurance on iQ insurance.
  • Rates may be higher depending on your occupation – Occupations such as lawyers, social workers and accountants are shown to have higher rates than average in part from stressful work requirements and lengthy work days. On the flip side, occupations such as scientists, athletes and retirees pay the least on iQ insurance.
  • Optional equipment can affect rates – Purchasing a vehicle with a theft deterrent system can get you a discount on your insurance coverage. Anti-theft devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your vehicle from being stolen.
  • Your location affects your rates – Choosing to live in small towns and rural areas can be a good thing when buying insurance coverage. City drivers tend to have much more traffic and longer commute times. Fewer people means fewer accidents and a lower car theft rate.
  • Being married is a good thing – Getting married helps lower the price on your insurance coverage policy. Having a significant other is viewed as being more responsible and statistics show being married results in fewer claims.

How to reduce Scion iQ insurance rates

Companies do not list all available discounts in a way that’s easy to find, so the following is a list of both well-publicized and the more hidden insurance savings.

  • Student in College – Children living away from home attending college and do not have access to a covered vehicle can be insured at a reduced rate.
  • Anti-theft Discount – Vehicles with anti-theft systems are stolen less frequently and earn discounts up to 10%.
  • Good Students Pay Less – Performing well in school can save 20 to 25%. Earning this discount can benefit you up to age 25.
  • Multiple Policy Discount – If you have multiple policies with one company you may earn 10% to 20% off each policy.
  • Lower Rates for Military – Being deployed with a military unit could mean lower rates.
  • Save over 55 – If you qualify as a senior citizen, you may qualify for better insurance rates on iQ insurance.
  • Seat Belts Save – Drivers who require all occupants to buckle their seat belts can save 10% or more off your medical payments premium.
  • Safety Course Discount – Taking a course teaching defensive driving skills can save you 5% or more and easily recoup the cost of the course.
  • Drive Safe and Save – Safe drivers may receive a discount up to 45% less on iQ insurance than drivers with accident claims.

Drivers should understand that most discounts do not apply to the entire policy premium. A few only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like all the discounts add up to a free policy, insurance companies aren’t that generous.

For a list of insurers who offer insurance discounts, follow this link.

Tailor your coverage to you

When it comes to choosing proper insurance coverage, there is no best way to insure your cars. Everyone’s situation is a little different and your policy should reflect that. Here are some questions about coverages that can help discover if your situation will benefit from professional help.

  • Does my policy cover me when driving someone else’s vehicle?
  • Should I put collision coverage on all my vehicles?
  • Does coverage extend to a rental car in a foreign country?
  • What is covered by UM/UIM coverage?
  • Do I have coverage if my license is suspended?
  • Do I need added coverage for expensive stereo equipment?
  • Does my car insurance cover rental cars?
  • Will filing a claim cost me more?
  • Do I need an umbrella policy?
  • Does my liability insurance cover pulling a trailer or camper?

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an agent. If you don’t have a local agent, simply complete this short form or click here for a list of insurance companies in your area.

Specifics of your car insurance policy

Learning about specific coverages of a car insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. These are the usual coverages available from car insurance companies.

Uninsured Motorist or Underinsured Motorist insurance

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.

Collision protection

This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims such as sideswiping another vehicle, hitting a parking meter, scraping a guard rail and crashing into a building. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. You can also choose a higher deductible to save money on collision insurance.

Insurance for medical payments

Med pay and PIP coverage reimburse you for bills for hospital visits, surgery and nursing services. The coverages can be used to fill the gap from your health insurance plan or if you do not have health coverage. Coverage applies to all vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive coverage (or Other than Collision)

Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things like hail damage, damage from flooding, vandalism and theft. The most you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Liability car insurance

Liability insurance provides protection from damage or injury you incur to people or other property. It protects you from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/25 that means you have a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability can pay for claims like medical expenses, pain and suffering, repair bills for other people’s vehicles, structural damage and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but buy as large an amount as possible.

What is YOUR best insurance company?

Discount 2014 Scion iQ insurance is attainable on the web as well as from independent agents, so compare prices from both to have the best chance of lowering rates. There are still a few companies who don’t offer you the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agents.

We just covered a lot of techniques to get a better price on insurance. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. You may be surprised to find that the most savings is with a company that doesn’t do a lot of advertising. Regional companies can often provide lower rates in certain areas compared to the large companies like Progressive and GEICO.

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