Who Has the Cheapest Insurance for a Toyota Corolla in Arizona?
Enter your Arizona zip code below to view companies that have cheap auto insurance rates.
UPDATED: Nov 9, 2019
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Because the topic is car insurance, the words “cheap” or “affordable” really should not be used anywhere in the article to describe car insurance rates. Notwithstanding, cheap car insurance for a Toyota Corolla can be hard to find. We’ll try to make it up to you, because we will teach you how you can still get insurance that you can afford to pay for.
Finding the cheapest car insurance for a Toyota Corolla in Arizona is contingent on a very complex rating algorithm that uses multiple factors such as whether you are a homeower, the likelihood of vehicle theft, and physical damage deductibles. Drivers in Arizona pay around $880 per year to buy Toyota Corolla insurance, but that policy rate is that uses a 30-year-old married female that wants full coverage including both comprehensive and collision and $250 policy deductibles.
There is a good chance you are not 30 and maybe not even a female, single instead of married, or maybe you rent instead of own your home. Having different needs demonstrates why the best way to find cheap insurance rates for your Toyota is to make a habit of comparing rates at every renewal.
The specific model of Corolla will likely have an effect on price, so the price you will be charged to insure a Corolla LE model will be $30 lower than the price to insure the more well-appointed Corolla XRS trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Arizona minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rates do not factor in specific location which can impact rates substantially.
Finding out which company quotes the cheapest auto insurance rates for a Toyota Corolla will involve a bit more effort than just picking a company at random.
Each auto insurer uses their own formula to determine premium rates, so we need to take a look at the most affordable auto insurance companies in Arizona. It’s important that you understand Arizona auto insurance rates are influenced by many factors which can substantially decrease or increase the price of coverage. Getting older, buying higher coverage limits, or getting a driving violation can cause premium changes that can cause some rates to be affordable when they were higher priced.
|Rank||Company||Cost Per Year|
|12||Farm Bureau Mutual||$1,297|
|Get Personalized Rates Go|
The Hartford generally has some of the best car insurance rates in Arizona at around $836 each year. Safeco, Auto-Owners, Travelers, and USAA also are some of the best Arizona insurance companies.
In the above example, if you have coverage with Travelers and switched to The Hartford, you may see an annual savings of in the vicinity of $283. Customers with USAA may save as much as $288 a year, and Progressive insureds might realize rate reductions of up to $294 a year.
Remember that these prices are averages across all drivers and vehicles in Arizona and and are not calculated with a specific rating modification for a Toyota Corolla. So the car insurance company that can offer you the best rate may not even be included in the above list. That helps illustrate why you need to get quotes using your own specific driver information and vehicle.
Enter your zip code below to view companies that have cheap auto insurance rates.
The diagram below demonstrates how deductible levels can raise or lower insurance costs when getting quotes for cheap insurance for a Toyota Corolla. The prices are based on a married male driver, comp and collision included, and no additional discounts are factored in.
A 40-year-old driver could lower their car insurance rates by $282 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $424 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could drop their prices as much as $950 each year by choosing a higher deductible. When choosing a higher deductible, it is a good idea to have enough savings set aside to be able to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Full coverage or liability only
Finding the cheapest insurance for a Toyota Corolla in Arizona is probably important to the majority of people, and an effective way to buy cheap insurance is to only buy liability coverage. The chart below visualizes the comparison of insurance costs with and without full coverage. The premiums are based on no violations or accidents, $1,000 deductibles, single status, and no discounts are taken into consideration.
On average, physical damage insurance costs an extra $1,573 per year more than carrying just liability coverage. At some point, every insured wonders if buying full coverage is worth the money. There is no definitive guideline of when to exclude comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your vehicle’s replacement cost is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $6,000 after the policy deductible has been paid. If premiums are more than $600 annually to have full coverage, then you might consider buying liability only.
There are a few cases where removing full coverage is not a good plan. If you haven’t paid off your loan, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Which car insurance company is best?
If you’re looking for the cheapest insurance for a Corolla in Arizona, four of the best places to start are State Farm, Allstate, Progressive, and Geico. Each company has slightly different coverages and options that you can select from. The next table points out some of the different options you can buy with each company.
|Mechanical breakdown insurance||No||No||Yes||Yes|
|Uber and Lyft insurance||Yes||Yes||Yes||Yes|
|Emergency roadside service||Yes||Yes||Yes||Yes|
|New car replacement coverage||No||Yes||No||No|
|Available in Arizona||Yes||Yes||Yes||Yes|
|Types of agents used||State Farm-only agents||Can only buy from Allstate agents||Buy online or from an independent agent||Both online and from Geico agents|
|Number of agents||18,000+||11,000+||30,000+||150+|
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Tips for buying the cheapest car insurance for a Toyota Corolla
It’s not impossible to find cheaper rates, and here are some penny-pinching ideas that can help Arizona drivers quote more affordable coverage.
- Raise physical damage deductibles
- Accident-free drivers may qualify for discounts
- The safer your car, the less it costs to insure
- Keep your driving record clean
- Do not pay for full coverage if not needed
- Improve your credit score
- Compare rates regularly and switch companies to save money
The last tip is remarkably crucial, as was discussed in this write-up. Prices charged by auto insurers can change in a short period of time, so don’t be unwilling to change to a new company if a cheaper rate is available. Having a favorite company is great, but we do not recommend it if it’s costing you a lot of money. Now is a great time to shop around to find cheaper car insurance for a Toyota Corolla.
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