Auto Insurance Quotes for a Toyota Corolla in San Antonio

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Purchasing cheaper San Antonio Toyota Corolla insurance quotes can appear to be intimidating for beginners to comparing rates on the web. With so many insurance agents and insurance companies available, how can anyone have the ability to compare each option to find cheaper auto insurance prices?

Insurance rates Toyota Corolla in San AntonioAmazingly, a recent NerdWallet.com study showed that over 70% of drivers have stayed with the same insurance company for four years or more, and practically 40% of auto insurance customers have never quoted rates to find lower-cost coverage. Drivers in San Antonio could save approximately 70% every year by just shopping around, but they think it's difficult to find lower-cost auto insurance rates.

There are several ways to compare quotes from local San Antonio auto insurance companies. The best way to lower the rate you pay for Toyota Corolla insurance is simply to get online rate quotes.

When quoting auto insurance, remember that comparing all the rates in your area increases your odds of finding the best offered rates.

The companies in the list below offer price comparisons in Texas. If multiple companies are shown, we recommend you compare several of them to get the lowest price.

Insurance statistics and figures

The premium table below highlights a range of prices for Toyota Corolla models. Understanding how insurance policy rates are calculated can help guide drivers when making smart choices when selecting a coverage provider.

Toyota Corolla Insurance Rates in San Antonio, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $282 $684 $400 $24 $120 $1,510 $126
Corolla S $282 $684 $400 $24 $120 $1,510 $126
Corolla XLE $282 $684 $400 $24 $120 $1,510 $126
Corolla XRS $318 $684 $400 $24 $120 $1,546 $129
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Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Price information does not factor in specific garaging location which can affect rates noticeably.

Insurance deductibles

One of the most common insurance questions is how high should your deductibles be. The figures shown below can help you understand the premium difference when you buy lower versus higher coverage deductibles. The first rate quote example uses a $100 physical damage coverage deductible and the second pricing table uses a $500 deductible.

Toyota Corolla insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $328 $698 $382 $22 $114 $1,569 $131
Corolla S $328 $698 $382 $22 $114 $1,569 $131
Corolla XLE $328 $698 $382 $22 $114 $1,569 $131
Corolla XRS $370 $698 $382 $22 $114 $1,611 $134
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Toyota Corolla insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $240 $472 $382 $22 $114 $1,230 $103
Corolla S $240 $472 $382 $22 $114 $1,230 $103
Corolla XLE $240 $472 $382 $22 $114 $1,230 $103
Corolla XRS $270 $472 $382 $22 $114 $1,260 $105
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Premium costs do not factor in specific San Antonio garaging location which can increase or decrease rates noticeably.

Using the premium rates above, we can conclude that using a $100 deductible will cost you roughly $28 more each month or $336 annually than opting for the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally go at a minimum 14 months between claim filings, you would probably save some money if you decide on a higher deductible.

How to calculate deductible break even period

Average monthly premium for $100 deductibles: $132
Average monthly premium for $500 deductibles (subtract): - $104
Monthly savings from raising deductible: $28
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $28
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One thing to note is that raising deductibles to save money results in a higher out-of-pocket expense when you have a physical damage claim. That will require enough savings in the event you have to pay more for the deductible.

The example below demonstrates how choosing different deductibles and can change Toyota Corolla premium costs for different insured age categories. The prices are based on a married male driver, full physical damage coverage, and no discounts are applied.

Insurance rates are higher with tickets and accidents

The illustration below illustrates how traffic citations and at-fault accidents can affect Toyota Corolla insurance costs for different age categories. The price estimates are based on a single female driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.

Toyota Corolla insurance rates by gender in San Antonio

The information below compares Toyota Corolla auto insurance costs for male and female drivers. The data is based on a clean driving record, no claims, full coverage, $100 deductibles, single marital status, and no discounts are factored in.

Three good reasons to insure your Toyota vehicle

Despite the high cost of buying insurance for a Toyota Corolla in San Antonio, insurance is not optional due to several reasons.

  • The majority of states have minimum mandated liability insurance limits which means you are required to carry a minimum amount of liability protection in order to drive the car legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If your vehicle has a loan, more than likely the lender will make it a condition of the loan that you have physical damage coverage to guarantee payment of the loan. If the policy lapses, the lender will be forced to insure your Toyota at a more expensive rate and require you to reimburse them for it.
  • Auto insurance protects both your Toyota Corolla and your personal assets. It will also pay for medical bills incurred in an accident. Liability insurance also pays for attorney fees and expenses if you are sued as the result of an accident. If your Toyota gets damaged, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.

The benefits of buying auto insurance definitely exceed the price paid, especially for larger claims. Despite what companies tell you, the average driver overpays as much as $700 annually so we recommend shopping around every year to ensure rates are competitive.

Smart Consumers Can Reduce Insurance Rates

A large part of saving on insurance is knowing some of the elements that play a part in calculating the price you pay for insurance. If you understand what positively or negatively impacts your premiums, this helps enable you to make changes that will entitle you to big savings.

  • How many coverages with the same company - Most major companies provide lower prices to people who carry more than one policy. It's known as a multi-policy discount. Even with this discount applied, consumers should still compare other San Antonio Corolla insurance rates to confirm you are receiving the best rates possible. It's possible to still save money by buying from different companies
  • Don't skimp on liability insurance - The liability section of your policy kicks in when you are found liable for damages from an accident. Liability insurance provides you with a defense in court to attempt to prove you were not liable. This coverage is very inexpensive compared to physical damage coverage, so insureds should have plenty of protection for their assets.
  • Too many policy claims will drive rates up - If you are the type of insured that files lots of claims you can definitely plan on much higher rates or policy non-renewal. Insurance companies in Texas award the lowest premiums to drivers who are not frequent claim filers. Auto insurance is meant to be used in the event of major claims that would cause financial hardship.
  • Teenage drivers pay more - Older drivers are more responsible, statistically cause fewer accidents, and are generally more financially stable. Inexperience drivers have been known to be easily distracted when driving and because of this, their insurance rates are much higher.

    The next chart assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.

  • Claims statistics for a Toyota Corolla - Insurance companies use statistical claims data as a way to help calculate a profitable premium rate. Vehicles that the data shows to have higher losses will have higher premium rates.

    The information below illustrates the historical insurance loss data for Toyota Corolla vehicles. For each insurance policy coverage type, the loss probability for all vehicles combined as an average is considered to be 100. Numbers below 100 suggest losses that are better than average, while values that are above 100 show a trend for more claims or an increased chance of a larger loss.

    Auto Insurance Loss Data for Toyota Corolla Models
    Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Toyota Corolla 133 111 94 156 158 128
    BETTER
    AVERAGE
    WORSE

    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Smart consumers save more

As you go through the steps to switch your coverage, never buy poor coverage just to save money. There have been many cases where someone dropped liability limits or collision coverage and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal should be to get the best coverage possible for the lowest price, but do not sacrifice coverage to save money.

Insureds switch companies for a number of reasons such as questionable increases in premium, denial of a claim, lack of trust in their agent and even policy cancellation. Regardless of your reason, switching auto insurance companies is actually quite simple.

We've covered a lot of ways to lower your Toyota Corolla insurance car insurance rates in San Antonio. The most important thing to understand is the more quotes you get, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest priced auto insurance comes from a small local company.

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