Cheap Insurance for a Toyota Camry in Massachusetts

Your odds of finding cheaper auto insurance for a Toyota Camry in Massachusetts is dependent upon a complex rating formula that takes into consideration things such as the mileage of your daily commute, if you have recent claims, and citations on your driving record. Massachusetts drivers pay on average $1,010 each year to buy Toyota Camry insurance, but that amount is based on a 50-year-old single male with comprehensive and collision coverage and $250 physical damage deductibles.

There is a good chance you are not 50 years old and maybe not even male, maybe you are married instead of single, or maybe your Camry is old enough that it doesn’t require full coverage. Having just a slight change in policy rating data could result in a significant change in the cost of insuring your Camry.

Not everyone needs the same coverages, so the best way to quote cheap car insurance rates for your Toyota is to regularly compare rates at renewal.

Your vehicle’s trim level tends to have a direct effect on price, so the price to insure a Camry LE model will be $174 cheaper than the cost to insure the fancier Camry Hybrid model, as demonstrated by the prices below.

Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Massachusetts minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Estimates do not factor in specific garaging location which can lower or raise prices significantly.

Determining which companies have the most affordable auto insurance rates for a Toyota Camry will involve a bit more effort than just comparing a company or two. Every insurance company has their own guidelines to set policy rates, so we’ll take a look at the auto insurance companies that tend to have lower prices in Massachusetts.

State Farm generally has some of the cheapest car insurance rates in Massachusetts at around $733 each year. National Grange Mutual, Commerce Group, GEICO, and OneBeacon also rank well as some of the cheapest Massachusetts insurance companies.

As the rates illustrate above, if you are currently insured with National Grange Mutual and switched to State Farm, you could see an annual savings of roughly $74. Customers with Commerce Group could save as much as $142 a year, and GEICO policyholders might reduce rates by $143 a year.

Remember that these rates are averaged across all drivers and vehicles in Massachusetts and are not factoring in a specific rate value for a Toyota Camry. So the company that is most affordable for your situation may not even be included in the list above. That is why you need to compare prices as often as possible using your own driver and vehicle profiles.

The diagram below shows how choosing a deductible can affect insurance prices when getting quotes for cheap insurance for a Toyota Camry. The premium estimates are based on a single male driver, comp and collision included, and no policy discounts are applied.

The chart above illustrates that a 30-year-old driver could lower their policy premium by $432 a year by changing from a $100 deductible up to a $500 deductible, or save $650 by using a $1,000 deductible. Younger drivers, like the age 20 example, could shave $1,266 every year just by choosing larger deductibles.

When using a larger deductible, it will be important to have plenty of money set aside to offset the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Are you paying too much for car insurance?

Massachusetts auto insurance rates are calculated based on many things which can substantially decrease or increase the price you have to pay. Simply getting older, moving to a new city, or having an accident can trigger rate changes that may make certain companies cheaper than competitors. In addition, companies file new rates every year or even multiple times each year in order to maintain liquidity for claims. A period of higher than normal claims may cause rate hikes, while a better loss history can produce cheaper Camry insurance rates.

As an example, the chart below shows which companies have the cheapest car insurance in Massachusetts for a 40-year-old female driver with no accidents, a clean driving record, and a decent credit rating. If we look at prices based on her current situation, State Farm might offer the best car insurance rates in Massachusetts at $719 a year. This is $516 less than the average policy premium paid by Massachusetts drivers of $1,235. National Grange Mutual, GEICO, Commerce Group, and OneBeacon are the remainder of the best Massachusetts auto insurance companies.

The chart below compares rates after we give the driver from above an accident claim, less-than-perfect credit, and a few blemishes on her driving record. Since every car insurance company uses a different method to set premium rates, comparing quotes could now result in a different list of the cheapest companies as shown below.

Arbella now has the lowest car insurance rate in Massachusetts with USAA, Norfolk and Dedham, Amica, and National Grange Mutual completing the list. This example shows why it is important to spend some time comparing rates when trying to get the best insurance quotes for a Toyota Camry. Insurance rates are made up of many risk factors and can change without notice, so the cheapest company when you last compared rates may now be quite expensive.