2004 Toyota Corolla Insurance Rates – 10 Policy Discounts

Tired of not being able to afford to insure your Toyota every month? Your situation is no different than millions of other consumers.

Online insurance companies like Progressive, State Farm and Geico persitently shower you with fancy advertisements and consumers find it hard to see past the corporate glitz and effectively compare rates to find the best deal.

It’s smart to price shop coverage quite often since rates tend to go up over time. Even if you got the best deal on Corolla insurance a couple years back other companies may now be cheaper. Starting now, ignore everything you know about insurance coverage because it’s time to teach you one of the quickest ways to save on insurance coverage.

If you currently have a car insurance policy, you will most likely be able to lower your premiums substantially using these tips. Finding the best rates is easy if you know what you’re doing. Although vehicle owners can benefit by having an understanding of how companies price online insurance and take advantage of how the system works.

Fast and Easy Auto Insurance Quotes

All major auto insurance companies such as Progressive, Geico, Allstate and State Farm quote pricing on their websites. Obtaining pricing is fairly straightforward as you simply type in your personal and coverage information as detailed in the form. When complete, the company’s rating system automatically retrieves your credit score and driving record and generates pricing information based on these factors. Quoting online makes it a lot easier to compare rates but the work required to visit a lot of sites and complete many quote forms can get tiresome after awhile. Unfortunately, it is important to do this if you want to find better auto insurance pricing.

There is an easier way!

A quicker way to locate the lowest prices uses one form that gets price quotes from a lot of companies. This type of form saves time, reduces the work, and makes price shopping online much more efficient. After sending the form, it is quoted and you can select any or none of the price quotes you receive.

If you find a better price you simply finish the application and buy the policy. It takes just a few minutes to complete and can result in significant savings.

In order to get comparison pricing now, simply click here to open in new window and input your coverage information. To compare your current rates, we recommend you replicate the insurance coverages exactly as shown on your declarations page. This guarantees you’re receiving comparison quotes based on identical coverages.

Is there deception in advertising?

Insurance coverage companies such as Progressive, Geico, Allstate and State Farm regularly use ads on television and other media. They all seem to make an identical promise that you’ll save big if you move your coverage to them. How can each company make the same claim?

Insurance companies can use profiling for the right customer they prefer to insure. A good example of a profitable customer might be profiled as between 30 and 50, a clean driving record, and has great credit. Any driver who fits that profile will qualify for the lowest rates and most likely will save when they switch companies.

Drivers who fall outside the “perfect” profile will be charged higher rates which usually ends up with business going elsewhere. The ads state “customers that switch” but not “drivers who get quotes” save that much money. That’s the way insurance companies can make the claims of big savings.

That is why drivers must compare as many rates as you can. You cannot predict which insurance coverage company will give you the biggest savings on Toyota Corolla insurance.

Don’t overlook these ten discounts

Properly insuring your vehicles can get expensive, but there could be available discounts that can drop the cost substantially. A few discounts will automatically apply when you quote, but lesser-known reductions have to be specially asked for before being credited.

  • Senior Citizens – If you’re over the age of 55, you can possibly qualify for reduced rates on Corolla insurance.
  • Homeowners Pay Less – Owning a house may trigger a auto insurance policy discount because maintaining a house is proof that your finances are in order.
  • Drivers Ed for Students – Require your teen driver to complete a driver education course if offered at their school.
  • Drive Less and Save – Fewer annual miles on your Toyota could be rewarded with better rates on cars that stay parked.
  • Sign Early and Save – Some insurance companies reward drivers for switching to them prior to your current policy expiration. It can save you around 10%.
  • Passive Restraint Discount – Factory air bags and/or automatic seat belt systems can receive discounts of more than 20%.
  • Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and will save you 10% or more.
  • Defensive Driving Course – Successfully completing a course teaching defensive driving skills can save you 5% or more and easily recoup the cost of the course.
  • Accident Forgiveness – Some insurance companies will allow you to have one accident without raising rates if you are claim-free for a particular time prior to the accident.
  • Life Insurance – Larger companies have a break if you buy auto and life insurance together.

As a disclaimer on discounts, most of the big mark downs will not be given to the entire cost. Most only cut the price of certain insurance coverages like comprehensive or collision. Even though it may seem like having all the discounts means you get insurance for free, auto insurance companies aren’t that generous. But all discounts will cut your overall premium however.

Companies that may have some of the above discounts may include but are not limited to:

Before buying, ask each company what discounts are available to you. Some discounts may not be available in every state.

Is my situation unique?

When it comes to buying coverage for your personal vehicles, there really is not a single plan that fits everyone. Every situation is different so your insurance should reflect that For example, these questions may help highlight whether you could use an agent’s help.

  • How many claims can I have before being cancelled?
  • Are my friends covered when driving my car?
  • Can I rate high risk drivers on liability-only vehicles?
  • Should I buy more coverage than the required minimum liability coverage?
  • Is my cargo covered for damage or theft?
  • Do I pay less for low miles?
  • Should I get collision insurance on every vehicle?

If you don’t know the answers to these questions, you might consider talking to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.

Parts of your insurance policy

Knowing the specifics of your policy can help you determine the best coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. These are typical coverages found on the average insurance policy.

Collision – Collision coverage pays for damage to your Corolla caused by collision with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like backing into a parked car, sideswiping another vehicle, hitting a parking meter, driving through your garage door and crashing into a building. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to bring the cost down.

Comprehensive coverages – This coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as hail damage, a tree branch falling on your vehicle and hitting a bird. The highest amount a insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured and underinsured coverage – This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses like prosthetic devices, dental work, surgery and X-ray expenses. They are used to fill the gap from your health insurance policy or if you do not have health coverage. They cover you and your occupants in addition to being hit by a car walking across the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Coverage for liability – Liability insurance protects you from injuries or damage you cause to a person or their property. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 50/100/50 that translate to a limit of $50,000 per injured person, $100,000 for the entire accident, and property damage coverage for $50,000. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount with no separate limits for injury or property damage.

Liability insurance covers claims such as loss of income, medical services, medical expenses and structural damage. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Quote often and quote early

As you shop your coverage around, do not skimp on critical coverages to save a buck or two. There are a lot of situations where drivers have reduced liability coverage limits to discover at claim time they didn’t have enough coverage. The aim is to find the BEST coverage at an affordable rate while not skimping on critical coverages.

You just learned a lot of tips how to save on 2004 Toyota Corolla insurance. It’s most important to understand that the more times you quote, the better likelihood of reducing your rate. You may be surprised to find that the lowest priced insurance coverage comes from some of the smallest insurance companies. These smaller insurers can often provide lower rates in certain areas than their larger competitors like State Farm and Allstate.

More tips and info about insurance coverage is located in these articles: