How Much Does 2012 Toyota Corolla Insurance Cost?

Searching for the cheapest insurance coverage rates for your Toyota Corolla? Cutting costs on insurance coverage can seem to be challenging for consumers new to comparing rates online. You have so many companies to choose from that it can easily become a ton of work to find the best price.

If you are paying for car insurance now, you will be able to cut costs considerably using this information. Finding the lowest cost insurance is easy if you know what you’re doing. Nevertheless, drivers can benefit from knowing the way companies market on the web and use this information to your advantage.

Auto Insurance Prices Online

There are several ways to compare rate quotes from local auto insurance companies. The recommended way to find the cheapest 2012 Toyota Corolla insurance rates is to use the internet to compare rates. This can be accomplished in several different ways.

  1. The easiest and least time consuming way to find low rates would be an industry-wide quote request form (click to open form in new window). This easy form keeps you from doing multiple quote forms for every auto insurance company. One simple form gets you price quotes from multiple companies. This is by far the quickest method.
  2. A harder way to compare rate quotes requires a visit to the website of each company and complete a new quote form. For sake of this example, we’ll assume you want to compare rates from Liberty Mutual, Esurance and Progressive. To get each rate you have to visit each site and enter your information, and that’s why the first method is more popular. For a list of links to companies insuring cars in your area, click here.
  3. The least efficient way to compare rates is to waste gas driving to different agent offices. Buying insurance online has reduced the need for local agents unless you have a need for the trained guidance only provided by licensed agents. Drivers can find lower rates online but buy from a local insurance agent and we’ll talk about that later.

It doesn’t matter which method you choose, just double check that you are using apples-to-apples coverage information on every quote. If you use different deductibles it will be very difficult to make a fair comparison for your Toyota Corolla. Just a small difference in insurance coverages could mean much higher rates. Just remember that quoting more helps you find the best rates.

These discounts can slash insurance coverage rates

Properly insuring your vehicles can get expensive, but you can get discounts to help offset the cost. Larger premium reductions will be automatically applied when you quote, but less common discounts must be inquired about prior to getting the savings.

  • Low Mileage Discounts – Fewer annual miles on your Toyota could be rewarded with lower rates on the low mileage vehicles.
  • New Vehicle Savings – Buying coverage on a new vehicle can be considerably cheaper due to better safety requirements for new cars.
  • One Accident Forgiven – A few companies permit an accident before raising your premiums if you are claim-free for a certain period of time.
  • Federal Employees – Simply working for the federal government can save as much as 8% on Corolla coverage with a few insurance coverage companies.
  • Theft Prevention System – Vehicles with anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
  • Good Student – This discount can get you a discount of up to 25%. The good student discount can last up to age 25.
  • Early Switch Discount – Some insurance companies reward drivers for switching policies before your current expiration date. It’s a savings of about 10%.
  • Pay Now and Pay Less – By paying your policy upfront rather than paying monthly you could save up to 5%.

Keep in mind that many deductions do not apply the the whole policy. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So despite the fact that it appears you can get free auto insurance, companies wouldn’t make money that way. Any amount of discount will help reduce the cost of coverage.

For a list of companies offering insurance coverage discounts, follow this link.

Pieces of the Toyota Corolla insurance rate puzzle

An important part of buying insurance is that you know some of the elements that help determine the rates you pay for insurance. When you know what positively or negatively controls the rates you pay allows you to make educated decisions that can help you get lower insurance prices.

  • Older drivers save more – Older insureds are more responsible, statistically cause fewer accidents and are safer drivers. Teen drivers tend to get distracted easily when behind the wheel therefore insurance rates are much higher.
  • Clean credit earns discounts – A driver’s credit score is a important factor in determining what you pay for insurance. Consumers who have high credit ratings tend to be less risk to insure than those with lower credit scores. Therefore, if your credit score is low, you could pay less to insure your 2012 Toyota Corolla by spending a little time repairing your credit.
  • Pleasure use or commuting – Driving more miles each year the higher your rate. Most insurance companies price each vehicle’s coverage based on their usage. Cars and trucks left parked in the garage can get a lower rate than vehicles that are driven to work every day. Make sure your insurance coverage is rated on the proper vehicle usage, because it can save money. If your policy improperly rates your Corolla may be costing you.
  • A clean driving record saves money – Your driving citation history has a huge affect on how much you pay. Careful drivers receive lower rates than their less careful counterparts. Just one speeding ticket can boost insurance rates forty percent or more. Drivers who have dangerous citations such as reckless driving, hit and run or driving under the influence may need to submit a SR-22 form to the state department of motor vehicles in order to prevent a license revocation.
  • Men pay higher rates – Statistics have proven women tend to be less risk to insure than men. However, don’t assume that women are better drivers. They both cause accidents in similar numbers, but men cause more damage and cost insurance companies more money. Men also receive more costly citations such as reckless driving.
  • Policy add-ons can waste money – There are many extra bells and whistles you can purchase when buying insurance. Coverages for vanishing deductibles, better glass coverage and motor club memberships are examples of these. These coverages may sound good initially, but if you don’t need them eliminate them to save money.
  • Pay less if you’re married – Having a wife or husband can actually save you money on insurance. Having a spouse usually means you are more mature than a single person and it’s proven that drivers who are married are more cautious.
  • Liability coverage is peace of mind – Your policy’s liability coverage is the protection if a court rules you are at fault for causing damage or personal injury in an accident. It will provide you with a defense in court starting from day one. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so drivers should carry high limits.

When might I need the advice of an agent?

When choosing proper insurance coverage for your vehicles, there really is no single plan that fits everyone. Your needs are not the same as everyone else’s.

These are some specific questions might point out whether you would benefit from professional advice.

  • What if I total my 2012 Toyota Corolla and owe more than it’s worth?
  • Does insurance cover tools stolen from my truck?
  • Does coverage extend to my business vehicle?
  • Am I better off with higher deductibles on my 2012 Toyota Corolla?
  • Does car insurance cover theft of personal property?
  • Where can I find DUI or SR-22 insurance?
  • Can I afford low physical damage deductibles?
  • Am I covered if I break a side mirror?
  • How much liability coverage do I need in my state?
  • What is roadside assistance coverage?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed agent. If you don’t have a local agent, complete this form.

Auto insurance coverage information

Learning about specific coverages of a car insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. Policy terminology can be ambiguous and coverage can change by endorsement.

Collision coverage – This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for claims such as crashing into a building, damaging your car on a curb, crashing into a ditch, hitting a mailbox and rolling your car. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. It’s also possible to bump up the deductible to bring the cost down.

UM/UIM (Uninsured/Underinsured Motorist) coverage – Your UM/UIM coverage provides protection when other motorists do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Toyota Corolla.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Most of the time these limits are set the same as your liablity limits.

Coverage for liability – Liability insurance provides protection from damage or injury you incur to a person or their property that is your fault. This insurance protects YOU against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 50/100/50 which stand for a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Another option is a combined single limit or CSL that pays claims from the same limit with no separate limits for injury or property damage.

Liability coverage protects against claims like pain and suffering, repair costs for stationary objects, medical expenses, medical services and court costs. How much coverage you buy is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive auto coverage – Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like hail damage, damage from flooding, rock chips in glass and hitting a deer. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance pay for bills for surgery, rehabilitation expenses and X-ray expenses. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Don’t be a big spender

Consumers leave their current company for many reasons like high prices, unfair underwriting practices, poor customer service and not issuing a premium refund. It doesn’t matter what your reason, finding a new auto insurance company can be less work than you think.

While you’re price shopping online, never buy poor coverage just to save money. In too many instances, consumers will sacrifice liability limits or collision coverage to discover at claim time that it was a big error on their part. Your focus should be to purchase a proper amount of coverage for the lowest price.

In this article, we presented a lot of information how to get a better price on 2012 Toyota Corolla insurance. The most important thing to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. You may even find the biggest savings come from a lesser-known regional company.

Much more information about auto insurance is available at the links below