Compare 2004 Toyota MR2 Spyder Insurance Rates

Did a good deal turn out to be overpriced insurance? It’s a common feeling and you are not the only one feeling buyer’s remorse.

Companies like Allstate, Liberty Mutual and State Farm continually bombard you with ads and it is challenging if not impossible to separate fact from fiction and do the work needed to find the best deal.

It’s important to price shop coverage once or twice a year because prices trend upward over time. Just because you found the lowest rates on MR2 Spyder insurance last year you can probably find a lower rate today. Block out anything you think you know about insurance because we’re going to show you one of the quickest ways to reduce your cost while increasing coverage.

If you currently have a car insurance policy, you will most likely be able to reduce your rates substantially using these techniques. Buying car insurance is quite easy. But drivers must know how big insurance companies compete online because it can help you find the best coverage.

How to lower your insurance coverage cost

When shopping for insurance coverage there are multiple ways of comparing price quotes from different companies. The best way to find the cheapest Toyota MR2 Spyder insurance rates is simply to get online rate quotes. This is quite simple and can be completed using a couple different methods.

  • Without a doubt, the easiest way to get quotes for comparison is an all-inclusive rate comparison like this one (opens in new window). This type of form prevents you from having to do repetitive form submissions for every prospective company. Filling out one form gets insurance cost estimates from multiple low-cost companies.
  • Another way to find lower rates is to manually visit each individual company website and repeat the quote process. For examples sake, we’ll pretend you want to compare Allstate, 21st Century and Progressive. To find out each rate you need to visit each site and enter your information, which can get rather old.

    To view a list of companies in your area, click here.

  • The final way to do your price quoting is going to all the different insurance agencies. The ability to buy insurance online can eliminate the need for a local agent unless you require the extra assistance of an agent trained in personal lines coverage. You can, however, compare the best prices online but still have the advice of a local agent.

The approach you take is up to you, just try to keep nearly identical information on every quote you get. If you are comparing different deductibles it will be next to impossible to determine which company has the best rates. Slightly different limits may result in a large different in cost. Just remember that obtaining a wide range of quotes gives you a better chance of getting lower pricing. Some insurance companies are not set up to provide prices over the internet, so it’s important to compare prices from them as well.

Discount insurance rates

Insurance is not inexpensive, but companies offer discounts that can drop the cost substantially. Some of these disounts will be visible at the time you complete a quote, but lesser-known reductions have to be requested specifically before you get the savings.

  • Full Payment Discount – By making one initial payment instead of making monthly payments you could save up to 5%.
  • ABS and Traction Control Discounts – Vehicles equipped with ABS or steering control can stop better under adverse conditions so you can save 10 percent or more.
  • Driver Training Discounts – Completing a defensive driving course could cut 5% off your bill if your company offers it.
  • More Vehicles More Savings – Drivers who insure primary and secondary vehicles with the same insurance company can get a discount on all vehicles.
  • Theft Deterent System – Cars and trucks optioned with advanced anti-theft systems are less likely to be stolen and can earn a small discount on your policy.
  • Good Student – Excelling in school can earn a discount of 20% or more. Most companies allow this discount well after school through age 25.

It’s important to understand that some credits don’t apply the the whole policy. Most only apply to individual premiums such as medical payments or collision. Just because you may think all the discounts add up to a free policy, companies don’t profit that way.

To see a list of insurers offering insurance discounts, click this link.

Tailor your insurance coverage coverage to you

When it comes to choosing the right insurance coverage, there isn’t really a best way to insure your cars. Coverage needs to be tailored to your specific needs and your policy should reflect that. Here are some questions about coverages that could help you determine if your insurance needs would benefit from an agent’s advice.

  • How high should my medical payments coverage be?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Who is covered when they drive my 2004 Toyota MR2 Spyder?
  • How do I file an SR-22 for a DUI in my state?
  • Exactly who is provided coverage by my policy?
  • Is a blown tire covered by insurance?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Does my policy cover my teen driver if they drive my company car?
  • Am I covered if I break a side mirror?
  • Does my policy cover me when driving someone else’s vehicle?

If you’re not sure about those questions but a few of them apply, you may need to chat with a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area.

How to lower your insurance costs

One of the most helpful ways to save on car insurance is to to have a grasp of some of the elements that play a part in calculating the price you pay for car insurance. When consumers understand what determines base rates, this enables you to make decisions that may result in big savings. Many factors are considered when you get your auto insurance bill. Some are pretty understandable like a motor vehicle report, but other factors are more transparent such as your marital status or how safe your car is.

  • Don’t cancel your car insurance without a new one in place – Having a gap between insurance policy dates can be a guaranteed way to trigger a rate increase. Not only will rates go up, the inability to provide proof of insurance could earn you a steep fine or even jail time. You may need to submit proof of financial responsibility or a SR-22 with your state motor vehicle department.
  • Low coverage deductibles can be expensive – The deductibles are the amount of money you are willing to pay before a claim is paid by your company. Protection for physical damage, also called ‘full coverage’, is used to repair damage to your car. Examples of covered claims would be a windshield broken by a bird, collision with a deer, and having a roll-over accident. The more of the claim the insured is willing to pay, the lower your rates will be on MR2 Spyder insurance.
  • Tickets hurt – Being a careful driver impacts your car insurance rates tremendously. Drivers with clean records tend to pay less for car insurance as compared to those with violations. Having a single driving citation can increase the cost of insurance twenty percent or more. Drivers who get severe violations like DWI, reckless driving or hit and run convictions may need to complete a SR-22 with their state’s licensing department in order to drive a vehicle legally.
  • Cheaper rates after marriage – Having a wife or husband actually saves money when buying car insurance. It generally demonstrates drivers are more responsible and it’s proven that married drivers tend to file fewer claims.
  • Reserve claims for larger damages – If you frequently file small claims, don’t be surprised to see higher premiums or even policy non-renewal. Auto insurance companies provide better rates to drivers that do not abuse their auto insurance. Your insurance policy is designed for the large, substantial claims.
  • Buy as much liability insurance as you can afford – Liability coverage is the protection if you are ruled to be at fault for physical damage or personal injury to other. It will provide legal defense coverage which can be incredibly expensive. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so drivers should make sure they buy enough to cover all assets.
  • Occupation stress can affect premiums – Jobs such as lawyers, architects and accountants usually pay higher premium rates attributed to high stress and extremely grueling work hours. On the flip side, careers like actors, athletes and retirees receive lower rates on MR2 Spyder insurance.

Insurance coverages explained

Learning about specific coverages of your insurance policy can help you determine which coverages you need for your vehicles. Policy terminology can be impossible to understand and reading a policy is terribly boring. Shown next are typical coverages available from insurance companies.

Collision coverage protection

This coverage covers damage to your MR2 Spyder resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision can pay for claims such as colliding with a tree, backing into a parked car, crashing into a ditch, colliding with another moving vehicle and sideswiping another vehicle. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. It’s also possible to increase the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle when other motorists do not carry enough liability coverage. It can pay for injuries to you and your family as well as damage to your Toyota MR2 Spyder.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked.

Comprehensive coverage

Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like falling objects, damage from flooding, rock chips in glass and theft. The maximum amount your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP reimburse you for immediate expenses such as prosthetic devices, X-ray expenses, doctor visits, hospital visits and ambulance fees. They are often used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. They cover all vehicle occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay

Coverage for liability

This coverage provides protection from injuries or damage you cause to other’s property or people in an accident. It protects you against claims from other people. It does not cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.

Liability insurance covers things such as attorney fees, funeral expenses, bail bonds, repair costs for stationary objects and medical expenses. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.

More quotes. Lower rates.

Throughout this article, we presented many tips how you can shop for 2004 Toyota MR2 Spyder insurance online. The key thing to remember is the more quotes you get, the better your comparison will be. Drivers may discover the most savings is with some of the smallest insurance companies. Some small companies often have lower premium rates on specific markets as compared to the big name companies such as State Farm or Progressive.

When buying insurance coverage, don’t be tempted to buy less coverage just to save a little money. There have been many cases where someone dropped full coverage only to discover later that the small savings ended up costing them much more. The ultimate goal is to purchase a proper amount of coverage at an affordable rate, not the least amount of coverage.

Additional detailed information is located in the articles below: