How Much Does 2016 Toyota Prius Insurance Cost?

Trying to find better auto insurance rates for your Toyota Prius? Having to pay for overpriced auto insurance can empty your personal savings and force you to prioritize other expenses. Shopping your coverage around is a smart way to slash your bill and have more diposable income. Online insurance companies like Progressive, Geico and Farmers Insurance all claim big savings, bombarding you with ads and it can be hard to avoid their marketing magic and do the work needed to find the best deal.

It’s a good idea to take a look at other company’s rates at least once a year since rates change regularly. Just because you had the best price on Prius insurance last year there is a good chance you can find better rates now. Forget all the misinformation about auto insurance because you’re about to find out the fastest and easiest way to save money, get proper deductibles and limits, all at the lowest rate.

Toyota Prius premiums are determined by many factors

Smart consumers have a good feel for some of the elements that help determine the rates you pay for insurance. When you know what positively or negatively impacts premium levels empowers consumers to make smart changes that could result in lower insurance prices.

  • Poor driving leads to higher costs – Your driving record has a lot to do with how much you pay for insurance. Even a single moving violation may increase your cost by twenty percent. Drivers with clean records have lower premiums than people who have multiple driving citations. Drivers who get severe violations like hit and run, DWI or reckless driving convictions may be required to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to drive a vehicle legally.
  • Your age impacts your rates – More mature drivers are more responsible, statistically cause fewer accidents and get fewer tickets. Teen drivers have a tendency to be more careless when driving therefore insurance rates are much higher.
  • Battle of the sexes – Statistics demonstrate women tend to be less risk to insure than men. That doesn’t necessarily mean that men are WORSE drivers than women. Both sexes have accidents in similar percentages, but the men cause more damage. Men also statistically receive more costly citations like reckless driving and DUI. Male drivers age 16 to 19 are the most expensive to insure and are penalized with high insurance rates.
  • Allowing your policy to lapse raises rates – Driving with no insurance is illegal and your next policy will cost more because you let your coverage lapse. Not only will you pay more, failure to provide proof of insurance might get you a hefty fine and possibly a revoked license.
  • More than one policy can earn a discount – Most insurance companies provide better rates to customers who have multiple policies with them such as combining an auto and homeowners policy. Discounts can add up to ten or even up to twenty percent in some cases. If you currently are using one company, you may still want to shop around to ensure the best deal.
  • How credit affects insurance rates – A driver’s credit score is a huge factor in determining what you pay for insurance. People with high credit ratings tend to be more responsible than those with lower credit ratings. Therefore, if your credit history is low, you could potentially save money when insuring your 2016 Toyota Prius by repairing your credit.
  • Marriage pays dividends – Having a spouse helps lower the price when buying insurance. Marriage means you’re more mature and it’s proven that married drivers get in fewer accidents.

Insurance Coverage Prices Online

Comparing insurance coverage rates can take time and effort if you aren’t aware of the most efficient way. You could waste a few hours talking to local insurance agents in your area, or you can utilize online quotes to accomplish the same thing much quicker.

Many companies belong to an insurance system that enables customers to submit their information once, and each company then returns a price quote determined by their information. This saves time by eliminating repetitive form submissions for every insurance coverage company.

To find out how much you’re overpaying now click here to open in new window.

The only downside to doing it this way is you are unable to specify the providers you want to price. If you would rather choose from a list of companies to compare rates, we have a listing of low cost insurance coverage companies in your area. Click here to view list.

It’s up to you how you get prices quotes, just make sure you use apples-to-apples coverages and limits for each comparison quote. If you enter differing limits you will not be able to make an equal comparison.

Discounts mean cheaper 2016 Toyota Prius insurance rates

Companies don’t necessarily list every available discount very well, so we break down both well-publicized and the harder-to-find insurance coverage savings. If you don’t get every credit you qualify for, you are throwing money away.

  • Lower Rates for Military – Being on active duty in the military could mean lower rates.
  • Pay Upfront and Save – If paying your policy premium upfront instead of monthly or quarterly installments you could save 5% or more.
  • More Vehicles More Savings – Having multiple cars or trucks with the same company could earn a price break for each car.
  • Good Student – Performing well in school can earn a discount of 20% or more. This discount can apply well after school through age 25.
  • Senior Discount – Mature drivers can possibly qualify for better insurance coverage rates on Prius insurance.
  • Government Employees – Being employed by or retired from a federal job may qualify you for a discount on Prius insurance with a few insurance coverage companies.

It’s important to note that some of the credits will not apply to the entire cost. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like you could get a free insurance coverage policy, you won’t be that lucky.

A partial list of companies that may offer these benefits are:

Double check with each insurance company which discounts you may be entitled to. Savings might not apply everywhere.

Tailor your coverage to you

When it comes to buying the right insurance coverage, there really is not a “best” method to buy coverage. Your needs are not the same as everyone else’s so your insurance needs to address that. For instance, these questions might point out whether your personal situation will benefit from professional help.

  • Is my nanny covered when driving my vehicle?
  • Should I buy full coverage?
  • Does car insurance cover theft of personal property?
  • How can I get high-risk coverage after a DUI?
  • How high should my uninsured/underinsured coverage be in my state?
  • Should I drop comprehensive coverage on older vehicles?

If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier It only takes a few minutes and can help protect your family.

Insurance coverage breakdown

Learning about specific coverages of a insurance policy can be of help when determining the right coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Listed below are the usual coverages available from insurance companies.

Medical expense coverage

Coverage for medical payments and/or PIP pay for immediate expenses like rehabilitation expenses, funeral costs, nursing services and ambulance fees. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. They cover you and your occupants as well as getting struck while a pedestrian. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Coverage for liability

This coverage protects you from damage that occurs to people or other property that is your fault. It protects you from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 100/300/100 that means you have a $100,000 limit per person for injuries, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.

Liability coverage pays for things like legal defense fees, court costs and attorney fees. The amount of liability coverage you purchase is a personal decision, but consider buying higher limits if possible.

Collision protection

Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims such as sideswiping another vehicle, backing into a parked car, colliding with a tree, sustaining damage from a pot hole and crashing into a building. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Comprehensive protection

Comprehensive insurance will pay to fix 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 protects against things such as damage from flooding, hitting a bird, rock chips in glass and a broken windshield. The maximum amount a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured or underinsured coverage

This provides protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.

Shop around and save

We just showed you quite a bit of information on how to lower your 2016 Toyota Prius insurance rates. It’s most important to understand that the more quotes you get, the better your chances of lowering your rates. Consumers may even find the best prices are with a smaller regional carrier. These companies may have significantly lower rates on certain market segments than the large multi-state companies such as Geico and State Farm.

As you prepare to switch companies, do not buy less coverage just to save a little money. There are many occasions where someone dropped full coverage and learned later that their decision to reduce coverage ended up costing them more. Your goal should be to get the best coverage possible for the lowest price, not the least amount of coverage.

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