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Cheapest Insurance Quotes for a Toyota Corolla in New York

Our content editors always give us grief that when writing about auto insurance, the word cheap shouldn’t be used as a descriptor for car insurance rates. Forgive the oxymoron, but cheap car insurance for a Toyota Corolla is not always easy to find. Don’t let that bother you, though, because we will teach you how you can still find and buy coverage that may not be cheap, but it is affordable.

Whether or not you can find cheaper auto insurance for a Toyota Corolla in New York relies on a lot of different factors such as whether you are married, your occupation, and physical damage deductibles. Drivers will pay on average $890 each year to buy insurance for a Toyota Corolla, but that rate is an estimation using rating data for a 30-year-old single male driver with full coverage including both comprehensive and collision and $250 deductibles.

There is a good probability you may not be 30 years old (or even male), you might be married instead of single, or you just prefer to insure for liability only. Each driver’s needs are different, and that demonstrates why your best chance at finding the cheapest coverage for your Toyota is to compare rates from as many companies as possible. Quotes are always free and you will get price quotes from some of the best companies that offer coverage in New York.

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The specific trim level will have an impact the coverage cost, so the price to insure a Corolla LE trim level will be $30 less than the insurance cost for the fancier Corolla XRS trim level, as demonstrated by the prices below.

Toyota Corolla Insurance Rates in New York
ModelCompCollisionLiabilityMedicalUM/UIMAnnual PremiumMonthly Premium
Corolla LE$234$406$346$20$104$1,110$93
Corolla S$234$406$346$20$104$1,110$93
Corolla XLE$234$406$346$20$104$1,110$93
Corolla XRS$264$406$346$20$104$1,140$95
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Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New York minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Rate quotes do not factor in specific New York garaging location which can revise rates considerably.

Locating low-cost insurance is not always easy, and deciding which companies have the cheapest auto insurance rates for a Toyota Corolla requires even more perseverance. Every car insurance company has a proprietary method to set their prices, so first let’s look at the rankings for the auto insurance companies with the overall best prices in New York.

It’s important to know that New York auto insurance rates are determined by lots of factors which can significantly increase or decrease your annual premium. Price variation is why New York drivers need to compare many different companies when trying to get the lowest insurance rates for a Toyota Corolla. Insurance prices are made up of many different factors and can change without notice, so the most affordable company six months ago may now be costing you a lot of money.

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Cheapest insurance companies in New York
RankCompanyCost Per Year
1USAA$1,152
2Erie$1,242
3Utica National$1,489
4Progressive$1,496
5Allstate$1,556
6Travelers$1,575
7MetLife$1,620
8Amica$1,644
9Preferred Mutual$1,703
10New York Central Mutual$1,836
11GEICO$1,850
12Safeco$1,946
13State Farm$1,962
14Liberty Mutual$2,005
15Central Mutual$2,028
16Hanover$2,323
17Encompass$2,662
18Nationwide$3,147
19Mercury$3,965
2021st Century$4,455
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USAA normally has some of the lowest car insurance rates in New York at around $1,152 each year. Erie, Utica National, Progressive, and Allstate would also make the list of some of the most economical New York insurance companies.

As shown above, if you are insured with Progressive and switched to Erie, you may realize annual savings of in the neighborhood of $254. Policyholders with Allstate might save as much as $314 a year, and Travelers customers might lower prices by $333 a year.

If you want to find out if you’re overpaying, click here to start your custom quote or quote rates from the companies below.

These premiums are averaged for all types of drivers and the different vehicles they drive and are not factoring in a specific rate value for a Toyota Corolla. So the company that fits you best may not even be included in the company chart above. That helps illustrate why you need to compare rates from multiple companies using your own individual information.

Safe drivers pay less for auto insurance

The ideal way to score low auto insurance premiums for a Corolla is to drive cautiously and not get tickets or have accidents. The diagram below shows how traffic citations and accidents can drive up insurance costs for different age groups. The costs are based on a married male driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.

In the previous chart, the average cost of car insurance in New York per year with a clean driving record and no accidents is $1,508. Receive two speeding tickets and the average cost rises to $2,085, an increase of $576 each year. Then include one accident along with the two speeding tickets and the 12-month cost of auto insurance for a Toyota Corolla goes up to an average of $2,672. That’s an increase of $1,163, or $97 per month, just for not driving carefully!

Discounts on the cheapest insurance for a Toyota Corolla in New York

Auto insurance for a Corolla in New YorkAuto insurance companies that provide policies for a Toyota Corolla may provide premium discounts that can lower rates by as much as 35% if you are eligible for them. Popular auto insurance companies and some of their more popular discounts include:

  • State Farm has discounts for student away at school, Drive Safe & Save, safe vehicle, multiple autos, good driver, and good student.
  • Farmers Insurance may offer discounts for business and professional, electronic funds transfer, mature driver, alternative fuel, teen driver, and early shopping.
  • Progressive offers discounts including multi-vehicle, online signing, homeowner, continuous coverage, and online quote discount.
  • GEICO policyholders can earn discounts including air bags, daytime running lights, five-year accident-free, seat belt use, anti-theft, and driver training.
  • Auto-Owners Insurance may include discounts for anti-theft, multi-policy, paperless, student away at school, multiple vehicles, air bags, and safe driver.
  • The Hartford offers premium reductions for defensive driver, anti-theft, good student, driver training, bundle, vehicle fuel type, and air bag.
  • Farm Bureau includes discounts for good student, multi-policy, driver training, safe driver, renewal discount, and 55 and retired.
  • USAA may have discounts that include new vehicle, safe driver, good student, loyalty savings, multi-policy, and military installation.

The diagram below illustrates the comparison of yearly insurance costs with and without discounts applied to the policy premium. Data assumes a female driver, no claims, a clean driving record, New York state minimum liability limits, full physical damage coverage, and $1,000 deductibles.

The first bar for each age group shows the price with no discounts. The second bar shows the rates with multiple vehicle, vehicle safety, safe-driver, defensive driving course, homeowner, and passive restraint discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on auto insurance for a Toyota Corolla is 28% or $368.

The benefit of shopping around

New York auto insurance rates are impacted by many things that will increase or decrease your annual premium. Turning one year older, moving across town, or having an accident can cause premium changes that can make some companies cheaper than others. Not only may your risk profile change, but car insurance companies change premium rates as often as every quarter in order to be able to pay unexpected claims. Heavier than normal losses can cause additional premium costs, while long-term profits can produce lower-cost Corolla insurance rates.

As an example, the data below shows the companies that have the cheapest car insurance in New York for a 40-year-old male driver with a clean driving record, no accidents, and a good credit history. When quoting prices based on his current risk factors, USAA might offer the most affordable car insurance rates in New York at $3,383 a year. This is $1,308 more than the average rate paid by New York drivers of $2,075. Erie, Progressive, Utica National, and Allstate round out the rest of the cheapest New York auto insurance companies.

In the next rate comparison, we’ll give the driver from the first rate comparison a claim, poor credit, and an imperfect driving record. Since each company has a unique formula to set policy rates, analyzing rate quotes will most likely result in a completely different list of cheap New York auto insurance companies as shown below.

MetLife now has the lowest price in New York with Amica, Preferred Mutual, Erie, and USAA also having competitive pricing. This example illustrates why it is critical to compare many different companies to get the cheapest auto insurance quotes for a Toyota Corolla. Car insurance prices are influenced by many risk factors and can change without notice, so the best option the last time you shopped around may now be quite expensive.

Best cheap Toyota Corolla insurance quotes

You have many ways to shop around for auto insurance in New York, but the most common are through an exlusive agent such as Liberty Mutual or State Farm, an independent insurance agent, or from a direct company like Geico. You can use whichever you prefer, but they differ slightly in how they give price quotes.

Independent agents write business for many companies and can get policy pricing from each one. These types of agents have the ability to get prices from more than one company, which may provide you with the best chance of finding a lower price. If they quote lower rates, it’s easy for the agent to move the policy without having to get a different agent.

A captive or exclusive agent is limited to one company, for example State Farm and Allstate agents. These agents normally cannot provide other companys’ prices, which will not provide a complete price comparison.

If you buy direct, you do not use either of the other two types of agents and instead buy direct either online or via phone. Buying direct may be a decent choice people who do not need advice for asset protection and know what coverages they need.

So comparing independent agents, exclusive agents, and direct, which one works best to buy the cheapest insurance for a Toyota Corolla in New York? We’d like to say shopping direct results in the cheapest rates since that eliminates agent commissions, but that does not always hold true. An argument could also be made that buying from an independent agent can save the most money due to having more companies to select from, but that assumption is also not necessarily accurate. In the right set of circumstances, exclusive agencies may have very competitive prices that cannot be met by either independent or direct companies.

Because it’s impossible to say who has the best auto insurance rates, the only true way to get the lowest rate is to compare lots of quotes. If you want to save money, get rate quotes from all three in order to find the best price. To see some of the cheapest online companies available, click here to view.

How to find more affordable car insurance for a Toyota Corolla

Below you’ll find some money-saving suggestions that can help New York drivers find cheap auto insurance.

  • Claim-free drivers earn discounts
  • Buy a safer vehicle
  • Assess whether full coverage is needed
  • Good credit can help you save money
  • Insure your home and auto with the same company
  • Higher comprehensive and collision coverage deductibles will save money
  • Compare price quotes at least once a year

That last idea is especially valuable, as was affirmed in this write-up. Prices charged by companies can be modified anytime, so don’t be afraid to switch to a new company if you find a better deal. Many drivers have brand loyalty and that’s fine, but it’s not recommended if that faithfulness ends up costing you several hundred dollars every year. In less than five minutes you could compare rates and find cheaper car insurance for a Toyota Corolla.

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