How Much Does 2008 Toyota Corolla Insurance Cost?

Finding cheap insurance might seem overwhelming for people new to quoting and comparing and buying insurance online. Since there are so many companies in the marketplace, how are people expected to have time to compare the different rates to find the cheapest rates?

It’s a great practice to quote other rates as often as possible since prices change regularly. Even if you think you had the lowest quotes for Corolla coverage a few years ago there is a good chance you can find better rates now. Forget all the misinformation about insurance because it’s time to teach you the proper way to remove unneeded coverages and save money.

This information will help you learn the best way to quote coverages. If you currently have a car insurance policy, you stand a good chance to be able to reduce your rates substantially using these tips. Nevertheless, vehicle owners do need to know the way insurance companies compete online and use this information to your advantage.

Finding insurance coverage

To get the cheapest auto insurance quotes, there a variety of ways to compare quotes from many different insurance companies. The best way to do a complete rate comparison is simply to get online rate quotes. It is quite easy and can be accomplished in several different ways.

  1. The most recommended method consumers can make multiple comparisons is an all-inclusive rate comparison like this one (opens in new window). This form prevents you from having to do a different quote for each price estimate. A single, simple form gets you coverage quotes from insurance coverage companies with the best prices. Just one form and you’re done.
  2. A harder way to find lower rates is to manually visit the website of each company and repeat the quote process. For examples sake, let’s assume you want to compare State Farm, Safeco and Travelers. To find out each rate you need to visit each site and repeatedly enter your information, which can be really labor intensive. For a handy list of car insurance company links in your area, click here.

Whichever way you choose to compare rates, make absolute certain that you use nearly identical coverages on every quote you get. If you are comparing higher or lower deductibles it’s impossible to make a fair comparison for your Toyota Corolla. Just a small difference in insurance coverages or limits may result in large price differences. And when comparison shopping, comparing a wide range of rates provides better odds of finding a lower rate than you’re paying now. Some companies don’t provide price estimates online, so it’s necessary to compare prices on coverage from those companies, too.

Get lower rates with these discounts

Insuring your vehicles can cost a lot, but companies offer discounts that many people don’t even know exist. Many of these discounts will be applied automatically when you complete an application, but some may not be applied and must be specially asked for prior to getting the savings.

  • Waiver for an Accident – Not necessarily a discount, but some insurance companies will allow you to have one accident before raising your premiums if your claims history is clear for a certain period of time.
  • Anti-lock Brake System – Cars, trucks, and SUVs that have steering control and anti-lock brakes prevent accidents and therefore earn up to a 10% discount.
  • Low Miles Discount – Fewer annual miles on your Toyota may allow you to get discounted prices on garaged vehicles.
  • Good Student Discount – Getting good grades can get you a discount of up to 25%. Most companies allow this discount up to age 25.
  • Pay Now and Pay Less – By paying your policy upfront instead of paying each month you may reduce your total bill.
  • Online Discount – Many insurance companies will give a small break for buying your policy over the internet.
  • Homeowners Discount – Owning a house can save you money due to the fact that maintaining a home means you have a higher level of financial diligence.
  • Multi-car Discount – Drivers who insure all your vehicles with the same auto insurance company may reduce the rate for each vehicle.
  • Organization Discounts – Participating in a civic or occupational organization could trigger savings on your next auto insurance statement.

As a footnote on discounts, most of the big mark downs will not be given to the entire policy premium. Most only apply to the price of certain insurance coverages like collision or personal injury protection. Just because it seems like it’s possible to get free car insurance, you aren’t that lucky. But all discounts should definitely cut the amount you pay for coverage.

A few popular companies and their offered discounts can be read below.

  • Geico may have discounts that include five-year accident-free, multi-policy, good student, anti-theft, daytime running lights, emergency military deployment, and membership and employees.
  • MetLife may include discounts for defensive driver, claim-free, accident-free, good driver, and multi-policy.
  • State Farm discounts include good driver, driver’s education, Steer Clear safe driver discount, safe vehicle, and accident-free.
  • Progressive may offer discounts for homeowner, good student, online signing, multi-policy, continuous coverage, and multi-vehicle.
  • Mercury Insurance has discounts for ease of repair, location of vehicle, multi-policy, annual mileage, and accident-free.
  • 21st Century has savings for good student, driver training, homeowners, 55 and older, anti-lock brakes, and early bird.
  • Allstate includes discounts for multi-policy, senior citizen, utility vehicle, defensive driver, and farm vehicle.

When getting free auto insurance quotes, it’s a good idea to each insurance company which discounts they offer. Some discounts may not be offered everywhere. If you would like to view insurance companies that have a full spectrum of discounts, click here to view.

How your Corolla insurance premiums are determined

When buying auto insurance it’s important to understand the rating factors that help calculate your auto insurance rates. When you understand what positively or negatively impacts your premiums, this enables informed choices that could result in big savings. Lots of things are considered when pricing auto insurance. Some are pretty understandable like an MVR report, although some other factors are more obscure such as your marital status or your commute time.

  • Does insurance coverage cost less for females? – Statistics have proven women tend to be less risk to insure than men. That doesn’t necessarily mean that women are better drivers. Men and women are responsible for auto accidents at a similar rate, but males tend to have higher claims. Not only are claims higher, but men have more aggressive citations like DWI (DUI) or reckless driving.
  • Premiums may be higher where you live – Choosing to live in areas with lower population has it’s advantages when shopping for auto insurance. Fewer drivers means less chance of accidents and also fewer theft and vandalism claims. Residents of big cities tend to have more traffic problems and much longer commute distances. Higher commute times means higher likelihood of an accident.
  • Always keep your auto insurance policy in place – Having a lapse in insurance coverage will be a sure-fire way to drive up your policy premiums. And not only will your rates increase, the inability to provide proof of insurance may earn you a fine, jail time, or a revoked license. You may then be required to file a SR-22 with your state department of motor vehicles.
  • Expect high rates for teens – Young drivers are statistically shown to be less responsible when driving so auto insurance rates are higher. Older, more experienced drivers have been proven to be more responsible, tend to cause fewer accidents .

Auto insurance can be complex

When buying the right insurance coverage, there isn’t really a one size fits all plan. Everyone’s situation is a little different.

Here are some questions about coverages that might point out whether your personal situation could use an agent’s help.

  • Can my teen driver be rated on a liability-only vehicle?
  • Do I pay less for low miles?
  • How can I find cheaper teen driver insurance?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Which is better, split liability limits or combined limits?
  • Should I put collision coverage on all my vehicles?
  • Will my rates increase for filing one claim?
  • Do I need an umbrella policy?

If it’s difficult to answer those questions, you may need to chat with an insurance agent. To find an agent in your area, fill out this quick form.

Auto insurance 101

Learning about specific coverages of your car insurance policy can be of help when determining the best coverages for your vehicles. Car insurance terms can be ambiguous and even agents have difficulty translating policy wording.

Medical expense coverage

Coverage for medical payments and/or PIP provide coverage for bills for prosthetic devices, pain medications, funeral costs and rehabilitation expenses. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants and also covers any family member struck as a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

Coverage for collisions

This pays for damage to your Corolla from colliding with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like colliding with another moving vehicle, crashing into a building, scraping a guard rail and rolling your car. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. It’s also possible to bump up the deductible to get cheaper collision coverage.

Comprehensive protection

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive can pay for claims such as a broken windshield, falling objects and hitting a bird. The maximum payout you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family as well as damage to your Toyota Corolla.

Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently these limits are identical to your policy’s liability coverage.

Liability auto insurance

Liability insurance can cover damage that occurs to people or other property by causing an accident. It protects YOU from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 100/300/100 that means you have a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Some companies may use a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability insurance covers claims such as bail bonds, court costs, repair bills for other people’s vehicles and legal defense fees. How much coverage you buy is your choice, but you should buy as high a limit as you can afford.

More quotes. Lower rates.

As you shop your coverage around, do not buy lower coverage limits just to save a few bucks. In many instances, consumers will sacrifice full coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your focus should be to get the best coverage possible at the lowest possible cost but still have enough coverage for asset protection.

Consumers switch companies for many reasons like being labeled a high risk driver, policy cancellation, lack of trust in their agent or delays in paying claims. No matter why you want to switch, finding a new auto insurance company can be easy and end up saving you some money.

Affordable 2008 Toyota Corolla insurance is definitely available from both online companies and from local agencies, and you should compare rates from both to have the best selection. Some insurance providers may not provide online quoting and these small, regional companies provide coverage only through independent agencies.

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