2014 Toyota Corolla Insurance Quotes – 6 Ways to Save

Looking for cheaper car insurance rates for your Toyota Corolla? I can’t think of anyone who likes having to buy car insurance, in particular when they are paying too much.

Companies like Progressive, Geico and Farmers Insurance all claim big savings with ads and it is challenging if not impossible to ignore the promise of big savings and take the time to shop coverage around.

If you are paying for car insurance now, you should be able to lower your premiums substantially using these tips. Finding affordable coverage is quite easy. Although drivers must learn how companies price online insurance and use this information to your advantage.

The quickest method to compare rate quotes is to take advantage of the fact all the major auto insurance companies will pay a fee to compare rate quotes. To get started, all you need to do is provide a small amount of information including coverage limits, if the car is leased, if your license is active, and if it has an alarm system. Your insurance information is submitted instantly to multiple different insurance companies and you will receive price estimates instantly.

Take advantage of discounts

Companies that sell car insurance do not advertise every available discount very well, so the following is a list of some of the best known as well as the least known ways to save on insurance coverage.

  • Paperless Signup – A few companies will discount your bill up to fifty bucks just for signing your application on their website.
  • Accident Waiver – Some insurance companies permit an accident before raising your premiums if your claims history is clear for a particular time prior to the accident.
  • Federal Employees – Employees or retirees of the government could cut as much as 10% off on Corolla insurance with a few insurance coverage companies.
  • Passive Restraints – Factory air bags or motorized seat belts can qualify for discounts of more than 20%.
  • Military Discounts – Having a family member in the military can result in better rates.
  • Discount for Swiching Early – A few companies offer discounts for signing up prior to your current policy expiration. The savings is around 10%.

Drivers should understand that most discounts do not apply to your bottom line cost. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. Just because it seems like all those discounts means the company will pay you, companies don’t profit that way.

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

Double check with each company how you can save money. Discounts may not apply in your area.

How to know if you need help

When buying proper insurance coverage for your vehicles, there really is no “best” method to buy coverage. Each situation is unique and a cookie cutter policy won’t apply. These are some specific questions might help in determining if you would benefit from an agent’s advice.

  • What exactly is covered by my policy?
  • If my 2014 Toyota Corolla is totaled, can I afford another vehicle?
  • Am I covered if hit by an uninsured driver?
  • Are my friends covered when driving my 2014 Toyota Corolla?
  • Do I benefit by insuring my home with the same company?
  • If I drive on a suspended license am I covered?
  • Is my custom paint covered by insurance?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Are my tools covered if they get stolen from my vehicle?
  • What if I don’t agree with a claim settlement offer?

If you don’t know the answers to these questions then you might want to talk to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies.

Parts of your auto insurance policy

Knowing the specifics of your policy can be of help when determining which coverages you need and the correct deductibles and limits. Auto insurance terms can be ambiguous and reading a policy is terribly boring. Listed below are typical coverages found on the average auto insurance policy.

Liability car insurance – This coverage protects you from injuries or damage you cause to other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 50/100/50 which means a $50,000 limit per person for injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.

Liability can pay for claims such as legal defense fees, emergency aid, attorney fees and bail bonds. How much coverage you buy is a personal decision, but buy higher limits if possible.

Comprehensive auto coverage – Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things like damage from getting keyed, hitting a bird and vandalism. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses such as pain medications, funeral costs and rehabilitation expenses. They are often used in conjunction with a health insurance program or if you lack health insurance entirely. It covers both the driver and occupants as well as any family member struck as a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay

UM/UIM (Uninsured/Underinsured Motorist) coverage – Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your Toyota Corolla.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family.

Collision coverage – Collision coverage pays for damage to your Corolla resulting from a collision with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like sustaining damage from a pot hole, colliding with a tree, backing into a parked car and crashing into a building. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to save money on collision insurance.

Coverage on a shoestring budget

Affordable 2014 Toyota Corolla insurance can be found online in addition to many insurance agents, so you should be comparing quotes from both to have the best selection. Some insurance companies do not provide the ability to get a quote online and usually these small insurance companies provide coverage only through local independent agents.

We covered a lot of information how to shop for insurance online. It’s most important to understand that the more you quote, the better chance you’ll have of finding lower rates. Consumers could even find that the lowest priced insurance comes from some of the lesser-known companies. Regional companies often have lower prices on specific markets than the large multi-state companies such as Allstate and Progressive.

Even more information is located at these sites: