2016 Toyota Yaris Insurance Cost in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 12, 2024

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Have you finally had enough of paying out the nose to pay insurance coverage each month? You are no different than many other consumers.

Big-name insurance companies like GEICO and Progressive constantly blast consumers with ad campaigns and it can be hard to ignore the flying pigs and cute green geckos and find the best price available.

Consumers should take time to get comparison quotes once or twice a year because insurance prices change frequently. Just because you had the lowest price on Yaris insurance at your last renewal there may be better deals available now. Forget anything you know (or think you know) about insurance coverage because you’re about to learn the fastest way to get good coverage at a lower rate.

The Toyota Yaris insurance rate equation

Many things are part of the equation when premium rates are determined. Some are pretty understandable like your driving record, but some are not quite as obvious like your continuous coverage or how financially stable you are. A large part of saving on car insurance is knowing the rating factors that play a part in calculating the price you pay for car insurance. If you have some idea of what determines base rates, this enables you to make decisions that can help you get big savings.

The itemized list below are some of the items that factor into prices.

  • Liability is important – A critical coverage on your policy, liability insurance kicks in in the event that you are determined to be liable for personal injury or accident damage. It will provide legal defense coverage starting from day one. Liability insurance is pretty cheap compared to comp and collision, so do not cut corners here.
  • Rates impacted by vehicle usage – The more you drive every year the higher your rates will be. A lot of companies charge to insure your cars partially by how you use the vehicle. Vehicles that have low annual miles cost less to insure than cars that get driven a lot. An improperly rated Yaris can result in significantly higher rates. Verify your vehicle rating states the right rating data, because improper ratings can cost you money.
  • Be proud to be claim-free – Car insurance companies give the lowest premiums to people who do not file claims often. If you tend to file frequent claims, you can pretty much guarantee higher rates. Insurance coverage is meant to be used in the event of larger claims.
  • Females tend to cost less – Over the last 30 years, statistics show that women are safer drivers than men. It does not mean females are better drivers. Both sexes are in accidents in similar percentages, but males have accidents that have higher claims. Not only are claims higher, but men get higher numbers of serious violations such as driving while intoxicated (DWI) or driving recklessly.
  • Accidents increase rates – How you drive influences premium rates substantially. Having a single chargeable violation could increase your next policy renewal forty percent or more. Good drivers pay less for auto insurance than people who have multiple driving citations. Drivers who get serious tickets like reckless driving or DUI may find that they have to to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to continue driving.
  • Rural areas have lower rates – Having an address in less populated areas is a positive aspect if you are looking for the lowest rates. Drivers who live in large cities have to deal with more auto accidents and longer commute times. Fewer drivers and short commutes means reduced accidents and a lower car theft rate.

Buy car insurance online

When shopping for car insurance there are multiple ways to obtain and compare prices from lots of car insurance companies. The easiest way by far to find competitive Toyota Yaris insurance rates is simply to get online rate quotes. It is quite easy and can be accomplished in a couple of different ways.

  • The single most time-saving way to get quotes for comparison would be an industry-wide quote request form. This quick form prevents you from having to do a different quote for each company. A single, simple form will get you rate comparisons from multiple low-cost companies.
  • A different way to shop for car insurance online consists of going to the website for each individual company and fill out their own quote form. For sake of this example, we’ll assume you are doing a rate comparison from GEICO, Esurance and Liberty Mutual. You would be required to go to every website to enter the same coverage data repeatedly, and that’s why the first method is more popular.

You can choose any of those ways to find more affordable coverage, but try to use equivalent coverages with each company. If you use differing limits you will not be able to determine the lowest rate for your Toyota Yaris. Slightly different limits could skew the results. And when comparison shopping, making a lot of price comparisons gives you a better chance of getting more affordable rates.

Get lower-cost rates by taking advantage of discounts

Car insurance is not cheap, but you might already qualify for some discounts that could drop your premiums quite a bit. Many discounts should be triggered at the time of purchase, but less common discounts must be asked about before you will receive the discount.

  • Federal Employees – Active or former government employment can save as much as 8% on Yaris insurance but check with your company.
  • Telematics Data – Drivers who elect to allow their company to scrutinize driving manner by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm could see a rate decrease if they exhibit good driving behavior.
  • Discount for Low Mileage – Maintaining low annual mileage could earn lower insurance rates due to less chance of an accident.
  • Paper-free Discount – A handful of insurance companies will give you a small discount for buying your policy on your computer.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags or automatic seat belts can qualify for discounts as much as 30%.
  • ABS Brakes – Cars and trucks with anti-lock braking systems have fewer accidents so you can save 10 percent or more.
  • Seat Belt Usage – Forcing all vehicle occupants to fasten their seat belts may be able to save a few bucks on the medical payments or PIP coverage costs.
  • Good Student – Performing well in school can earn a discount of 20% or more. The discount lasts until age 25.

It’s important to note that most discount credits are not given to the entire cost. Some only reduce individual premiums such as collision or personal injury protection. Even though it appears you can get free auto insurance, you aren’t that lucky. But all discounts should definitely cut your premiums.

Large insurance companies and some of the premium reductions they offer include:

  • State Farm may have discounts that include defensive driving training, multiple autos, safe vehicle, student away at school, Drive Safe & Save, good student, and driver’s education.
  • Liberty Mutual offers discounts for new move discount, teen driver discount, hybrid vehicle, safety features, and good student.
  • American Family discounts include good driver, good student, air bags, bundled insurance, and TimeAway discount.
  • Progressive policyholders can earn discounts including multi-vehicle, good student, online signing, online quote discount, and continuous coverage.
  • Farmers Insurance offers premium reductions for teen driver, homeowner, distant student, early shopping, alternative fuel, and good student.
  • Auto-Owners Insurance has savings for good student, multiple vehicles, anti-theft, student away at school, paid in full, group or association, and anti-lock brakes.
  • SAFECO may offer discounts for drive less, multi-car, safe driver, bundle discounts, accident prevention training, anti-lock brakes, and homeowner.

It’s a good idea to ask all the companies which discounts can lower your rates. A few discounts might not be available to policyholders in every state.

How much auto insurance do I need?

When choosing the best auto insurance coverage for your vehicles, there is no best way to insure your cars. Every insured’s situation is different so your insurance needs to address that. These are some specific questions may help you determine whether your personal situation could use an agent’s help.

  • When should I remove comp and collision on my 2016 Toyota Yaris?
  • How much underlying liability do I need for an umbrella policy?
  • Should I put collision coverage on all my vehicles?
  • Does coverage extend to Mexico or Canada?
  • Do I need special endorsements for business use of my vehicle?
  • Can I make deliveries for my home business?
  • I have a DUI can I still get coverage?
  • Is business equipment covered while in my vehicle?
  • Which companies will insure high-risk drivers?
  • Should I buy more coverage than the required minimum liability coverage?

If you don’t know the answers to these questions but a few of them apply, you might consider talking to a licensed agent. To find lower rates from a local agent, simply complete your zip code.

Educate yourself about insurance coverages

Having a good grasp of insurance can be of help when determining appropriate coverage and proper limits and deductibles. The terms used in a policy can be impossible to understand and coverage can change by endorsement. Below you’ll find typical coverages available from insurance companies.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as chiropractic care, prosthetic devices and nursing services. They can be utilized in addition to your health insurance program or if you are not covered by health insurance. Coverage applies to you and your occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Auto liability insurance – This coverage protects you from damage that occurs to other people or property that is your fault. This insurance protects YOU from claims by other people. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.

Liability coverage pays for things like medical expenses, legal defense fees, emergency aid and structural damage. How much coverage you buy is your choice, but consider buying as much as you can afford.

Collision coverage – Collision coverage pays to fix your vehicle from damage caused by collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as colliding with another moving vehicle, rolling your car, backing into a parked car, scraping a guard rail and hitting a parking meter. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

Comprehensive insurance – This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims such as a broken windshield, vandalism and hitting a deer. The most you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered losses include hospital bills for your injuries and damage to your Toyota Yaris.

Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked.

In any little way, save everyday

As you go through the steps to switch your coverage, make sure you don’t sacrifice coverage to reduce premiums. There have been many cases where an insured cut collision coverage and discovered at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to get the best coverage possible for the lowest cost, but do not skimp to save money.

Affordable 2016 Toyota Yaris insurance is possible both online and with local insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some insurance providers don’t offer rates over the internet and most of the time these regional carriers only sell coverage through independent agents.

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