Toyota Corolla insurance image courtesy of QuoteInspector.com
Finding cheap coverage for a Toyota Corolla in Texas is pretty easy to do, but it hinges on a large number of rating criteria such as whether you use your Corolla for business use, whether you are claim-free, and citations on your driving record. Drivers pay around $966 each year to insure their Corolla, but that cost is an approximation based upon a 50-year-old married female driver with full coverage and $250 deductibles.
There's a good chance you are not 50 and maybe not even a female, possibly single instead of married, or maybe you don't qualify for the same discounts. Having the smallest difference in rating criteria or coverage limits can result in a massive change in how much insurance for a Toyota Corolla costs.
Everone's needs are different, and this illustrates why the best way to find the most affordable coverage for your Toyota is to compare as many rates as you can. In less than five minutes you will receive price comparisons from some of the best companies that offer coverage in Texas.
The trim level of your Toyota tends to have a direct effect on the cost of coverage, so the price to insure a Corolla LE trim level will be $30 cheaper than the insurance cost for the more well-appointed Corolla XRS model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rate quotes do not factor in specific location which can modify prices considerably.
Selecting a good quality insurance company can be challenging considering how many different insurance companies sell coverage in Texas. The ranking information shown below can help you decide which companies to look at when insurance shopping for a Toyota Corolla.
The ratings below are only made up of insurance companies that insure vehicles in the majority of U.S. states, so companies with more of a regional focus are not included in this list. If you wish to compare rates from these top insurers and more, click this link.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
How much more does full coverage cost in San Antonio?
Saving money when shopping for car insurance should be important to most people, and one of the best ways to find cheaper insurance for a Toyota Corolla is to not pay for full coverage. The information below visualizes the comparison of auto insurance costs when comparing full coverage to liability only. The premium estimates are based on no violations or accidents, $100 deductibles, single status, and no other discounts are factored in.
If we average all the age groups together, physical damage coverage costs an additional $2,785 per year more than just buying liability only. Many drivers will wonder if paying for full coverage is a waste of money. There is no set guideline of when to drop physical damage insurance, but there is a general guideline. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let's assume your vehicle's replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after paying your deductible. If it's costing you more than $500 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some conditions where removing full coverage is not recommended. If you haven't satisfied your loan, you have to maintain full coverage in order to keep the loan. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage on your policy.
Discounts on San Antonio insurance
Car insurance companies that sell policies for a Toyota Corolla may have discounts that could lower prices by 35% or more if you meet specific eligibility requirements. A list of car insurance companies and a selection of discounts can be read below.
- State Farm has savings for multiple policy, accident-free, passive restraint, good driver, defensive driving training, and multiple autos.
- Farmers Insurance offers discounts including switch companies, alternative fuel, pay in full, business and professional, good student, multi-car, and mature driver.
- Progressive may offer discounts for good student, multi-vehicle, online quote discount, online signing, continuous coverage, multi-policy, and homeowner.
- GEICO includes discounts for multi-policy, good student, five-year accident-free, air bags, and anti-lock brakes.
- Auto-Owners Insurance may have discounts that include mature driver, paperless, paid in full, multi-policy, company car, and good student.
- The Hartford offers premium reductions for good student, anti-theft, air bag, driver training, and defensive driver.
- Farm Bureau discounts include multi-policy, good student, renewal discount, multi-vehicle, safe driver, and youthful driver.
- USAA offers discounts for new vehicle, driver training, family discount, multi-policy, multi-vehicle, and good student.
The chart below compares insurance premiums with and without discounts applied to the policy premium. The rates are based on a female driver, no violations or accidents, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with passive restraint, multiple vehicle, safe-driver, multiple policy, homeowner, and accident-free discounts applied. When drivers take advantage of discounts, theamount saved on car insurance for a Toyota Corolla is 28% or $532.
The importance of shopping around for Corolla insurance
San Antonio, TX car insurance rates are calculated based on many things that control your annual premium. Simply having another birthday, having a teenage driver, or getting a speeding ticket can trigger price changes that can now make some companies cheaper than before. In addition to those changes, insurers change their prices as needed to ensure their profitability. Heavier than normal losses may result in higher priced premiums, while profitable underwriting may result in more affordable Corolla insurance rates.
As an example, the graph below shows which company has the cheapest car insurance in San Antonio, TX for a 30-year-old female driver with no violations or accidents, and a good credit history. If we compare prices based on her current risk factors, Travelers might offer the most affordable car insurance rates in San Antonio at $1,193 each year. This is $711 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the list of the best San Antonio, TX auto insurance companies.
The chart below compares rates after we give the driver in the first example an at-fault accident, a lower credit score, and a stop sign violation. Because each insurer uses their own calculation for setting rates, comparing prices may now result in a completely different list of the cheapest San Antonio car insurance companies as shown below.
Mercury now has the best auto insurance rate in San Antonio with State Farm, Nationwide, Safe Auto, and USAA also being competitive. This example shows why drivers need to shop around with many companies when trying to find the lowest car insurance rates for a Toyota Corolla.
Insurance prices are calculated by many things and can change substantially, so the most affordable company six months ago may now be one of the higher cost companies.
How to find cheaper car insurance for a Toyota Corolla
The list below summarizes many money-saving solutions that can help Texas drivers find cheaper car insurance.
- Save money by staying claim-free
- Bundle home and auto and save
- Pay lower rates with good credit
- Save money by insuring older vehicles for liability only
- Higher comprehensive and collision coverage deductibles will save money
- Choose a safer vehicle and pay lower rates
- Compare rates regularly to ensure the best deal
The final tip is highly critical, as was discussed in this write-up. Auto insurance rates in San Antonio go up and down frequently, so don't hesitate to switch companies if a more affordable price is available. Brand loyalty is not necessarily bad, but is isn't recommended if that faithfulness ends up costing you money that could be spent on other things. If you have a few minutes, now is a great time to compare rates and find cheaper insurance for a Toyota Corolla.
The San Antonio auto insurance agencies shown below can most likely help you decide which policy fits your needs best, as lots of people like to get some guidance when buying car insurance for a Corolla. It's not always simple to find coverage yourself, so agents can bring satisfaction knowing you have adequate protection. To find an auto insurance agency close to you, click the link after the list.
- Norma Lopez Petre - State Farm Insurance Agent
3227 SW Military Dr #103 - San Antonio, TX 78211 - (210) 928-3276
- B J Kohutek Jr - State Farm Insurance Agent
7863 Callaghan Rd #105 - San Antonio, TX 78229 - (210) 616-0662
- Ellis Insurance Agency
15335 San Pedro Ave - San Antonio, TX 78232 - (210) 979-9000
- Mary Ellen Jablonski - State Farm Insurance Agent
2606 TPC Pkwy #107 - San Antonio, TX 78259 - (210) 829-1778
- Diana Ybarra - State Farm Insurance Agent
420 Jackson Keller Rd - San Antonio, TX 78216 - (210) 366-0086