2001 Toyota RAV4 Car Insurance Cost – 6 Tips to Save

Looking for cheaper insurance rates for your Toyota RAV4? Consumers fed up with high insurance rates and are new to comparing rates online will discover buying low cost insurance is harder than they anticipated.

It’s smart to do price comparisons as often as possible since insurance prices trend upward over time. Even if you got the best deal on RAV4 insurance a few years ago you will most likely find a better rate quote today. You can find a lot of wrong information about insurance on the internet, but we’re going to give you some guaranteed methods to reduce your insurance bill.

Drivers save money with these six discounts

Companies that sell car insurance do not list all their discounts very clearly, so here is a list a few of the more common and also the more inconspicuous ways to save on insurance. If you do not double check each discount available, it’s possible you qualify for a lower rate.

  • Resident Student – Children who attend college more than 100 miles from home and do not have access to a covered vehicle can be insured at a reduced rate.
  • One Accident Forgiven – This isn’t a discount exactly, but companies like Progressive, Allstate, and Liberty Mutual may permit one accident before raising your premiums if your claims history is clear for a specific time period.
  • Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle their seat belts may be able to save a few bucks off the PIP or medical payment premium.
  • ABS Braking Discount – Cars and trucks with anti-lock braking systems can stop better under adverse conditions and qualify for as much as a 10% discount.
  • Memberships – Having an affiliation with a professional or civic organization could qualify you for a break on your next renewal.
  • Multi-Vehicle Discounts – Insuring multiple cars on a single policy can reduce rates for all insured vehicles.

Policy discounts save money, but most discount credits are not given to your bottom line cost. Most cut the price of certain insurance coverages like comprehensive or collision. If you do the math and it seems like you can get free auto insurance, companies wouldn’t make money that way.

Larger insurance companies and a partial list of their discounts are outlined below.

  • Geico may include discounts for anti-lock brakes, military active duty, multi-policy, federal employee, emergency military deployment, seat belt use, and driver training.
  • Travelers has discounts for save driver, continuous insurance, new car, driver training, early quote, home ownership, and IntelliDrive.
  • Farm Bureau discounts include renewal discount, good student, safe driver, multi-policy, and 55 and retired.
  • Liberty Mutual may offer discounts for preferred payment discount, multi-policy, safety features, new graduate, good student, and new vehicle discount.
  • American Family includes discounts for good driver, TimeAway discount, early bird, multi-vehicle, defensive driver, accident-free, and mySafetyValet.
  • Progressive offers premium reductions for good student, online quote discount, continuous coverage, multi-policy, and homeowner.

When getting a coverage quote, ask every insurance company how many discounts you can get. Some of the discounts discussed earlier might not be offered in your area. To view companies who offer insurance discounts, click here.

Special considerations

When it comes to buying the best insurance coverage coverage, there really is no single plan that fits everyone. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that may help you determine if your situation may require specific advice.

  • Exactly who is provided coverage by my policy?
  • What is an SR-22 filing?
  • What is the minimum liability in my state?
  • Am I covered when using my vehicle for business?
  • Can I rate high risk drivers on liability-only vehicles?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • I have health insurance so do I need medical payments coverage?
  • Is business equipment covered while in my vehicle?
  • Should I file a claim if it’s only slightly more than my deductible?

If you’re not sure about those questions but one or more may apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, complete this form.

The car insurance bait and switch

Car insurance providers like State Farm, Allstate and Geico consistently run ads on TV and radio. All the ads try to convey promises that people will save if you switch your policy. Is it even possible that every company can offer you a better deal? It’s all in the wording.

Car insurance companies have underwriting criteria for the type of customer that earns them a profit. A good example of a profitable insured might be described as a female over age 40, has never had a claim, and has great credit. Any new insured who matches that profile will get a cheap rate quote and will save money with a new company.

People who don’t measure up to those criteria will be charged higher premium rates and this can result in the prospect going elsewhere. If you listen closely, the ads state “people that switch” not “everyone that quotes” save money. This is how insurance companies can confidently make those claims.

Because of these techniques, you really need to compare many company’s rates. It is impossible to predict which car insurance company will fit your personal profile best.

Insurance coverages 101

Knowing the specifics of your insurance policy helps when choosing the best coverages at the best deductibles and correct limits. Insurance terms can be confusing and nobody wants to actually read their policy.

Liability coverages

This provides protection from injuries or damage you cause to other’s property or people by causing an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 50/100/50 that translate to $50,000 bodily injury coverage, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as attorney fees, medical services and legal defense fees. How much liability coverage do you need? That is your choice, but you should buy higher limits if possible.

Uninsured or underinsured coverage

This protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered claims include injuries to you and your family and also any damage incurred to your Toyota RAV4.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently the UM/UIM limits are similar to your liability insurance amounts.

Coverage for collisions

Collision insurance will pay to fix damage to your RAV4 resulting from colliding with another car or object. A deductible applies and then insurance will cover the remainder.

Collision insurance covers things like crashing into a ditch, crashing into a building and hitting a parking meter. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to bring the cost down.

Comprehensive protection

This coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims such as falling objects, theft, damage from a tornado or hurricane and a tree branch falling on your vehicle. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Medical expense coverage

Medical payments and Personal Injury Protection insurance kick in for expenses for things like ambulance fees, EMT expenses, hospital visits and funeral costs. They can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. Coverage applies to you and your occupants as well as getting struck while a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

In Summary

As you restructure your insurance plan, never skimp on coverage in order to save money. In many instances, drivers have reduced comprehensive coverage or liability limits only to regret at claim time they didn’t have enough coverage. Your goal should be to find the BEST coverage at a price you can afford, not the least amount of coverage.

Throughout this article, we presented a lot of information how to shop for 2001 Toyota RAV4 insurance online. The key thing to remember is the more companies you get rates for, the better your chances of lowering your rates. You may be surprised to find that the best prices are with some of the lesser-known companies.

Insureds switch companies for a number of reasons such as high prices, delays in paying claims, denial of a claim or high rates after DUI convictions. Whatever your reason, choosing a new company is not as hard as you think.

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