2003 Toyota Prius Insurance Quotes

Want lower insurance rates for your Toyota Prius? Wish you could get out of overpriced insurance? You’re in good company because there are lots of residents who feel the same. There is such a variety of insurance companies to insure vehicles with, and though it is a good thing to have multiple companies, it makes it harder to compare rates and find the lowest cost insurance.

Why you might pay increased rates

Many factors are part of the equation when pricing auto insurance. Some are pretty understandable like your driving record, but other criteria are more transparent like where you live or your financial responsibility.

The factors shown below are a few of the things companies use to determine your rate level.

  • Maintain insurance coverage coverage – Going without insurance is a guaranteed way to increase your insurance coverage rates. Not only will you pay higher rates, getting caught without coverage can result in a steep fine or even jail time. You may have to submit proof of financial responsibility or a SR-22 with your state DMV.
  • Getting married is a good thing – Getting married may cut your premiums on your policy. Having a spouse means you’re less irresponsible and it’s statistically proven that married drivers tend to file fewer claims.
  • Pay more if you have a long commute – Choosing to live in less populated areas of the country is a good thing if you are looking for the lowest rates. Drivers in populated areas tend to have congested traffic and more severe claims. Less people living in that area means a lower chance of having an accident as well as less vandalism and auto theft.
  • Insurance coverage rates and your employer – Occupations like military generals, executives and stock brokers generally pay the highest average rates because of job stress and lots of time spent away from family. Conversely, jobs such as professors, historians and the unemployed get better rates on Prius insurance.
  • Liability insurance is cheap – Your insurance coverage policy’s liability coverage is the protection if you are found liable for damages caused by your negligence. Your policy’s liability insurance provides legal defense to defend your case. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so do not cut corners here.

The most recommended method to compare insurance rates in your area takes advantage of the fact most of the larger companies pay for the opportunity to give rate comparisons. To start a quote, the only thing you need to do is provide a small amount of information including an estimate of your credit level, if a SR-22 is required, how many miles driven, and your occupation. The rating information gets transmitted to multiple insurance coverage providers and they return quotes instantly.

Well known brands might not be cheapest

Consumers get pounded daily by advertisements for auto insurance savings from the likes of Progressive, Geico, Allstate and State Farm. They all seem to make the promise that drivers will save a bundle if you get a free car insurance quote and switch your coverage.

How is it plausible that every one can give you a lower rate? This is how they do it.

All companies are able to cherry pick for the type of insured that earns them the most money. A good example of a driver they prefer might have to be between the ages of 30 and 50, has a clear driving record, and drives newer vehicles. Anyone who matches that profile receive the lowest rate quotes and will also save when switching.

Drivers who do not meet those standards will be charged a more expensive rate which results in the customer buying from a different company. The ad wording is “people who switch” not “everybody who quotes” can save as much as they claim. This is how insurance companies can confidently make it sound like they have such great premium rates.

Because each company has a different risk profile, you really should do a rate comparison at every renewal. Because you never know which auto insurance company will have the best car insurance rates at this point in time.

Cheaper car insurance quotes with discounts

Some insurers don’t list all disounts very well, so here is a list some of the best known as well as some of the hidden credits that you can use to lower your rates.

  • Driver Training Discounts – Passing a course teaching safe driver skills can save you 5% or more if you qualify.
  • Telematics Discount – People who choose to allow companies to study driving habits by using a small device installed in their vehicle like Drivewise from Allstate or In-Drive from State Farm might see lower rates if they show good driving skills.
  • Accident Waiver – This one is not really a discount per se, but a handful of insurance companies may permit one accident without the usual rate increase with the catch being you have to be claim-free for a certain period of time.
  • Multi-Vehicle Discounts – Purchasing coverage when you have several vehicles with one company can get a discount for every vehicle.
  • Passive Restraints – Vehicles with factory air bags and/or automatic seat belt systems could see savings of 20 to 30 percent.
  • Include Life Insurance and Save – Select insurance companies reward you with a break if you buy a life policy as well.
  • E-sign – Some of the larger companies will give you a small discount for buying a policy and signing up on their website.
  • Early Signing – A few car insurance companies offer discounts for switching to them early. You could save around 10% when you buy car insurance online.

Just know that most credits do not apply to the entire cost. Most only apply to specific coverage prices like liability, collision or medical payments. Even though it appears adding up those discounts means a free policy, nobody gets a free ride. But all discounts will cut the cost of your policy.

To choose providers that offer many of these discounts, click here to view.

Tailor your insurance coverage coverage to you

When choosing the right insurance coverage, there really is not a perfect coverage plan. Each situation is unique and your policy should reflect that. For instance, these questions could help you determine if you could use an agent’s help.

  • Am I covered if my car is in a flood?
  • What is medical payments coverage?
  • Am I covered if I wreck a rental car?
  • Should I have combined single limit or split liability limits?
  • Why do I need rental car insurance?
  • How do I file an SR-22 for a DUI in my state?
  • Will my rates increase for filing one claim?
  • Am I covered by my spouse’s policy after a separation?
  • Is upholstery damage covered by car insurance?
  • Does my policy cover me when driving someone else’s vehicle?

If you don’t know the answers to these questions but a few of them apply, you may need to chat with 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. It’s fast, free and can help protect your family.

Insurance coverage specifics

Learning about specific coverages of a insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. Insurance terms can be impossible to understand and reading a policy is terribly boring. These are the usual coverages available from insurance companies.

Liability car insurance

This coverage will cover damage that occurs to a person or their property that is your fault. It protects you against claims from other people, and does not provide coverage for damage to your own property or vehicle.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Another option is one number which is a combined single limit which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage pays for things such as emergency aid, funeral expenses, structural damage and legal defense fees. How much liability should you purchase? That is up to you, but buy as large an amount as possible.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage pay for expenses like surgery, chiropractic care, X-ray expenses and hospital visits. They can be used in conjunction with a health insurance program or if you are not covered by health insurance. It covers both the driver and occupants and also covers getting struck while a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked. Usually the UM/UIM limits are identical to your policy’s liability coverage.

Collision insurance

Collision insurance pays for damage to your Prius caused by collision with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision coverage pays for things like hitting a mailbox, driving through your garage door, rolling your car and colliding with a tree. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

Comprehensive auto coverage

Comprehensive insurance covers damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as falling objects, hitting a deer, a tree branch falling on your vehicle and damage from a tornado or hurricane. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Saving money makes a lot of cents

In this article, we covered a lot of techniques to save on 2003 Toyota Prius insurance. It’s most important to understand that the more price quotes you have, the higher the chance of saving money. Drivers may discover the lowest rates come from the least-expected company. Some small companies may often insure only within specific states and give getter rates than their larger competitors like Allstate and Progressive.

When getting car insurance quotes online, it’s very important that you do not reduce needed coverages to save money. There have been many cases where drivers have reduced liability limits or collision coverage and found out when filing a claim that they should have had better coverage. Your strategy should be to purchase a proper amount of coverage at the best cost, but do not sacrifice coverage to save money.

Much more information about insurance is available at the links below