2014 Toyota Corolla Insurance Rates

Average insurance rates for a 2014 Toyota Corolla are $1,286 a year with full coverage. Comprehensive costs an estimated $250 a year, collision insurance costs $476, and liability insurance costs $408. Buying a liability-only policy costs as little as $462 a year, and high-risk insurance costs around $2,792. Teen drivers receive the highest rates at up to $4,878 a year.

Annual premium for full coverage: $1,286

Rate estimates for 2014 Toyota Corolla Insurance

Rate data is compiled from all 50 U.S. states and averaged for all 2014 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

View Chart as Image

These differences demonstrate why it is important for drivers to compare rates for a targeted area and risk profile, rather than relying on price averages.

Use the form below to get rates for your location.

I can’t think of anyone who likes having to buy insurance, especially when the cost is too high.

Having so many companies and agents to choose from, it’s nearly impossible to choose the cheapest provider.

It’s a good habit to do rate comparisons on a regular basis since rates are variable and change quite frequently. Despite the fact that you may have had the best rates on Corolla coverage two years ago other companies may now be cheaper. There is a lot of bad information regarding insurance on the internet, so I’m going to show you some excellent ideas to slash your insurance rates.

The purpose of this post is to instruct you on how car insurance quotes work and some tips to save money. If you are paying for car insurance now, you should be able to lower your premiums substantially using this information. Nevertheless, consumers must learn the way insurance companies determine prices and apply this information to your search.

Don’t miss these discounts

The price of auto insurance can be rather high, but you can get discounts that you may not even be aware of. Some trigger automatically at the time you complete a quote, but less common discounts must be asked about prior to receiving the credit.

• Safety Course Discount – Taking a course in driver safety could cut 5% off your bill if your company offers it.
• Multiple Vehicles – Buying coverage for multiple vehicles on the same auto insurance policy qualifies for this discount.
• Good Students Pay Less – A discount for being a good student can earn a discount of 20% or more. This discount can apply up to age 25.
• Air Bag Discount – Vehicles with factory air bags can receive discounts up to 30%.
• Resident Student – Any of your kids who are attending college and do not have access to a covered vehicle can be insured at a reduced rate.
• 55 and Retired – If you qualify as a senior citizen, you can possibly qualify for better auto insurance rates on Corolla coverage.
• Seat Belts Save more than Lives – Buckling up and requiring all passengers to use their safety belts could save 15% off your medical payments premium.
• Own a Home – Simply owning a home may trigger a auto insurance policy discount due to the fact that maintaining a home shows financial diligence.
• No Charge for an Accident – A few companies will forgive one accident without raising rates so long as you haven’t had any claims for a set time period.

A little note about advertised discounts, some of the credits will not apply the whole policy. Most only reduce the cost of specific coverages such as physical damage coverage or medical payments. Just because you may think you would end up receiving a 100% discount, companies don’t profit that way. But all discounts will help reduce the amount you have to pay.

A partial list of companies who might offer these benefits include:

• GEICO
• Auto-Owners Insurance
• American Family
• Esurance
• Progressive
• State Farm
• AAA

Before buying, ask each company which discounts you may be entitled to. Discounts may not be available in your area.

The easiest way to compare insurance rates in your area is to know the fact almost all companies pay for the opportunity to compare their rates. To begin a comparison, all you need to do is give the companies some data such as if it has an alarm system, whether you are single or married, if you require a SR-22, and deductibles desired. Your information is instantly submitted to many highly-rated insurers and they return cost estimate instantly.

When might I need help?

When it comes to choosing the best car insurance coverage for your vehicles, there really is no cookie cutter policy. Every insured’s situation is different so your insurance needs to address that. These are some specific questions might help in determining whether or not you may require specific advice.

• Are my friends covered when driving my car?
• What is the rate difference between pleasure use and commuting?
• Why am I required to buy high-risk coverage?
• What companies insure drivers after a DUI or DWI?
• Does my insurance cover my expensive audio equipment?
• Can I get a multi-policy discount?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier

Specifics of your auto insurance policy

Knowing the specifics of your policy aids in choosing appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be confusing and nobody wants to actually read their policy. Listed below are typical coverages found on most auto insurance policies.

Comprehensive coverages

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like fire damage, hitting a bird, damage from getting keyed, rock chips in glass and damage from flooding. The maximum payout your auto insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Coverage for collisions

Collision insurance covers damage to your Corolla caused by collision with an object or car. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for things such as crashing into a ditch, backing into a parked car, crashing into a building, driving through your garage door and sustaining damage from a pot hole. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. Another option is to increase the deductible to save money on collision insurance.

Coverage for medical payments

Coverage for medical payments and/or PIP pay for immediate expenses for things like rehabilitation expenses, EMT expenses and nursing services. They are used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

Liability car insurance

Liability coverage provides protection from damages or injuries you inflict on people or other property. This insurance protects YOU from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 100/300/100 which stand for a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Another option is a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as medical services, bail bonds, attorney fees, funeral expenses and emergency aid. How much coverage you buy is your choice, but consider buying as large an amount as possible.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Shop smart and save

Cheaper 2014 Toyota Corolla insurance is possible on the web in addition to many insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some companies do not provide you the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agents.

We covered many tips how you can compare insurance prices online. The most important thing to understand is the more price quotes you have, the better likelihood of reducing your rate. Consumers could even find that the biggest savings come from the smaller companies. Some small companies often have lower prices on specific markets than their larger competitors like State Farm and Allstate.

More tips and info about auto insurance can be found in these articles:

• Neck Injury FAQ (iihs.org)
• Information for Teen Drivers (GEICO)
• Auto Insurance 101 (About.com)
• Credit Impacts Car Insurance Rates (State Farm)