Cheapest 2014 Toyota Tacoma Insurance Rates in 2023
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UPDATED: Jun 5, 2023
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Trying to find cheaper car insurance rates for your Toyota Tacoma? No one likes paying for car insurance, in particular when they are paying too much. Having so many choices of insurance companies, it is hard for the average consumer to find the cheapest insurance company.
It’s smart to compare prices every six months due to the fact that insurance rates are usually higher with each renewal. Despite the fact that you may have had the lowest rates for Tacoma insurance on your last policy you can probably find a lower rate today. Starting now, forget all the misinformation about car insurance because you’re going to get a crash course in the fastest and easiest way to remove unneeded coverages and save money.
Vehicle Insurance Comparison
All major car insurance companies like 21st Century, Allstate and State Farm allow you to get coverage price quotes on their websites. Obtaining pricing is fairly straightforward as you simply enter the coverages you want into a form. When complete, their rating system sends out for reports for credit and driving violations and gives you a price quote based on these factors. Quoting online streamlines rate comparisons, but having to visit several different sites and fill out multiple forms can get tiresome after awhile. Unfortunately, it is important to perform this step in order to get the lowest price.
Compare rates the easy way
An easier way to compare rates uses one form that analyzes rates from several companies at one time. The form is fast, eliminates repetitive work, and makes online shopping much more enjoyable and efficient. After sending your information, your coverage is rated with multiple companies and you can pick any of the pricing results.
If a lower price is quoted, you can click and sign and purchase the new policy. It takes 15 minutes at the most and can result in significant savings.
To quickly fill out one form to compare multiple rates now, click here and begin entering your coverage information. If you have a policy now, it’s recommended you copy deductibles and limits as shown on your current policy. This makes sure you will have a fair comparison for the exact same coverage.
Pay less for Toyota Tacoma insurance
Insuring your vehicles can cost a lot, but discounts can save money and there are some available to cut the cost considerably. Certain discounts will be applied at the time of purchase, but lesser-known reductions have to be specially asked for before they will apply. If you aren’t receiving every discount available, you are paying more than you should be.
- Service Members Pay Less – Having a deployed family member may qualify for rate reductions.
- Passive Restraints – Factory air bags or motorized seat belts can get savings of more than 20%.
- Drive Less and Save – Fewer annual miles on your Toyota can earn lower rates on the low mileage vehicles.
- College Student – Children living away from home attending college and don’t have a car can receive lower rates.
- Sign Online – A few companies will give a small break for buying a policy and signing up online.
- Government Employees – Employees or retirees of the government could cut as much as 10% off for Tacoma insurance with certain companies.
Keep in mind that many deductions do not apply the whole policy. Some only reduce 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 coverage companies aren’t that generous. But all discounts will bring down the amount you have to pay.
A partial list of companies that may offer some of the above discounts include:
Double check with every prospective company which discounts they offer. Discounts might not apply everywhere.
Toyota Tacoma rates are in the details
It’s important that you understand the rating factors that help determine the price you pay for insurance coverage. When you know what positively or negatively determines base rates enables informed choices that will entitle you to big savings.
- Having a spouse can save you money – Getting married can get you a discount on your policy. Having a significant other translates into being more responsible and statistics show being married results in fewer claims.
- Increase deductibles and save – Physical damage deductibles represent how much money you are willing to pay out-of-pocket in the event of a claim. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Some instances where coverage would apply could be colliding with a building, damage from fire, and burglary. The more expense you are required to pay out-of-pocket, the less your company will charge you for insurance for Tacoma insurance.
- Do you qualify for a multi-policy discount? – Some insurance coverage companies provide better rates to customers who consolidate policies with them, otherwise known as a multi-policy discount. Even though this discount sounds good, you still need to compare rates to verify if the discount is saving money.
- Pleasure use or commuting – The higher the mileage driven each year the more you will pay for insurance coverage. The majority of insurers charge to insure your cars based upon how you use the vehicle. Cars used primarily for pleasure use receive lower rates as compared to vehicles used primarily for driving to work. An improperly rated Tacoma may be costing you. Double check that your insurance coverage declarations sheet is showing the correct usage for each vehicle, because improper ratings can cost you money.
- Don’t cancel a policy without a new one in place – Driving your car without having proper coverage is against the law and your next policy will cost more because you let your insurance expire. And not only will your rates increase, failure to provide proof of insurance may earn you a revoked license or a big fine.
- Rural vs Urban Areas – Being located in a rural area can save you money when it comes to insurance coverage. Fewer drivers means reduced accidents as well as less vandalism and auto theft. Drivers who live in large cities have to deal with traffic congestion and a longer drive to work. More time on the road translates into higher accident risk.
- Older drivers save more – More mature drivers are viewed as being more responsible, file fewer claims and get fewer tickets. Teen drivers are statistically proven to be more careless when driving therefore insurance coverage rates are much higher.
Tailor your coverage to you
When choosing the best insurance coverage coverage for your vehicles, there is no cookie cutter policy. Your needs are not the same as everyone else’s and your policy should reflect that. These are some specific questions might point out whether or not you might need an agent’s assistance.
- Am I covered if hit by an uninsured driver?
- Which is better, split liability limits or combined limits?
- How much liability insurance is required?
- Will my vehicle be repaired with OEM or aftermarket parts?
- How high should deductibles be on a 2014 Toyota Tacoma?
- Should I have a commercial auto policy?
- Is business equipment covered while in my vehicle?
- Why do I need rental car insurance?
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to an agent.
Save $486 a year. For real?
Consumers get pounded daily by advertisements for cheaper car insurance by companies like 21st Century, Allstate and State Farm. All the companies have a common claim that you’ll save big if you switch to them.
But how can every company make the same claim? This is how they do it.
All companies have a certain “appetite” for the type of driver that earns them a profit. A good example of a driver they prefer could possibly be between the ages of 40 and 55, has no driving citations, and drives less than 7,500 miles a year. A customer getting a price quote who meets those qualifications will get the preferred rates and as a result will probably save quite a bit of money when switching.
Potential customers who don’t qualify for this ideal profile will be quoted higher premiums which leads to the driver buying from a lower-cost company. Company advertisements say “customers who switch” not “everyone that quotes” save that much. This is how insurance companies can confidently make those claims.
This emphasizes why it is so important to quote coverage with many companies. It’s impossible to know which insurance companies will have the lowest Toyota Tacoma insurance rates.
Insurance coverage specifics
Knowing the specifics of your insurance policy aids in choosing the right coverages at the best deductibles and correct limits. Insurance terms can be confusing and even agents have difficulty translating policy wording. Shown next are typical coverages found on the average insurance policy.
Comprehensive (Other than Collision)
Comprehensive insurance pays for damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things like hitting a bird, hail damage, a tree branch falling on your vehicle and damage from flooding. The most you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Medical expense insurance
Med pay and PIP coverage pay for bills for dental work, rehabilitation expenses, pain medications and funeral costs. They can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. Coverage applies to you and your occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states and may carry a deductible
Collision insurance pays for damage to your Tacoma resulting from colliding with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision coverage pays for things such as sustaining damage from a pot hole, driving through your garage door and damaging your car on a curb. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to choose a higher deductible to save money on collision insurance.
Protection from uninsured/underinsured drivers
This coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your Toyota Tacoma.
Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Normally your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
This protects you from damages or injuries you inflict on other people or property that is your fault. This coverage protects you against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount and claims can be made without the split limit restrictions.
Liability insurance covers things such as pain and suffering, attorney fees, bail bonds and loss of income. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.
Don’t throw your cash in the trash
We just showed you some good ideas how you can reduce 2014 Toyota Tacoma insurance prices online. It’s most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. You may even find the biggest savings come from a small mutual company. Smaller companies may often insure only within specific states and give getter rates than their larger competitors like Progressive and GEICO.
Cheaper insurance can be sourced from both online companies and also from your neighborhood agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance companies may not provide the ability to get a quote online and most of the time these regional insurance providers sell through independent agents.
Even more information is available in the articles below:
- Auto Theft Statistics (Insurance Information Insitute)
- What Auto Insurance is Cheapest for a Toyota Tacoma in Pittsburgh? (QuotePittsburgh.com)
- Distracted Driving (Insurance Information Insitute)
- How to Avoid Common Accidents (State Farm)
- If I File a Claim will My Insurance Go Up? (Insurance Information Insitute)
- Vehicle Insurance (Wikipedia)
Frequently Asked Questions
What factors affect the cost of insurance for a 2014 Toyota Tacoma?
Several factors can impact the cost of insurance for a 2014 Toyota Tacoma. Some key factors include the driver’s age, location, driving history, credit score, coverage options, deductible amount, and the level of insurance required by law.
Is the 2014 Toyota Tacoma generally expensive or affordable to insure?
The insurance cost for a 2014 Toyota Tacoma can vary depending on multiple factors. However, compared to some other vehicles in its class, the Tacoma is generally considered to have more affordable insurance rates due to factors like its reliability, safety features, and relatively lower theft rates.
What are some ways to potentially lower the insurance premiums for a 2014 Toyota Tacoma?
There are several strategies to help lower insurance premiums for a 2014 Toyota Tacoma. Consider the following:
- Maintaining a good driving record and avoiding accidents or traffic violations.
- Opting for higher deductibles, which can reduce monthly premiums.
- Bundling auto insurance with other policies like homeowner’s insurance.
- Inquiring about available discounts, such as safe driver discounts or multi-car discounts.
- Installing safety features like anti-theft devices or alarms.
Are there any specific safety features in the 2014 Toyota Tacoma that could lead to insurance discounts?
Yes, the 2014 Toyota Tacoma comes with several safety features that may help qualify for insurance discounts. These features include antilock brakes, stability control, traction control, front and side-impact airbags, and an anti-theft system. Be sure to consult with your insurance provider to see if they offer any discounts for these safety features.
Does the insurance cost for a 2014 Toyota Tacoma vary based on trim levels or optional features?
Yes, the insurance cost for a 2014 Toyota Tacoma can be influenced by the trim level and optional features. Higher trim levels or additional features like a more powerful engine or off-road capabilities may increase the insurance premiums as they can be more expensive to repair or replace in case of an accident.
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