Lower Your 2004 Toyota RAV4 Insurance Rates

Want lower car insurance rates for your Toyota RAV4? Did a good deal turn out to be an underperforming, overpriced car insurance policy? You’re preaching to the choir because there are a lot of people just like you who feel imprisoned by their car insurance policy.

Big companies like State Farm and GEICO persitently shower you with catchy ads and it can be hard to see through the deception and do the work needed to find the best deal.

If you currently have a car insurance policy, you will most likely be able to save some money using these techniques. Choosing the best insurance company for you is easy if you know what you’re doing. But vehicle owners must learn how companies determine prices and use this information to your advantage.

Low cost insurance prices

There are multiple methods to shop for insurance, and some are more efficient than others. You can spend countless hours talking about coverages with local insurance agents in your area, or you can utilize the web to get prices fast.

Many of the larger companies belong to a marketplace where prospective buyers only type in their quote data once, and every company returns a rated price. This saves time by eliminating repetitive form submissions for each company you want a rate for. To find out how much you can save on insurance click here (opens in new window).

The single downside to using this type of system is buyers cannot specifically choose which insurance companies you want to price. So if you prefer to choose from a list of companies to compare prices, we have a page of companies who write insurance in your area. Click here to view list.

However you get your quotes, try to use identical coverage data with each company. If each company quotes different values for each quote it’s not possible to decipher which rate is best. Just slight variations in coverage limits could skew the results. And when comparison shopping, having more price comparisons provides better odds of finding the best offered rates.

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Pay discount rates with these discounts

Companies offering auto insurance don’t necessarily list all disounts very clearly, so the list below gives a summary of both the well known and the more hidden insurance coverage savings. If you aren’t receiving every discount available, you’re paying more than you need to.

Online Discount – A few larger online companies may give you up to $50 shop auto insurance digitally online.
Resident Student – Children who live away from home to go to college and won’t have access to an insured vehicle may be insured at a cheaper rate.
Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices help deter theft and will save you 10% or more.
Discounts for Good Drivers – Safe drivers may receive a discount up to 45% on RAV4 coverage as compared to drivers with claims.
New Car Discount – Buying a new car instead of a used car can save you some money because newer vehicles are generally safer.
No Claim Discounts – Drivers who stay claim-free can save substantially in comparison with policyholders that have many claims.
Include Life Insurance and Save – Some companies give a small discount if you purchase a life insurance policy as well.
55 and Retired – Older drivers may qualify for reduced rates on RAV4 coverage.

Please keep in mind that some credits don’t apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as liability, collision or medical payments. Even though it appears you can get free auto insurance, that’s just not realistic.

Large insurance coverage companies and a partial list of their discounts can be found below.

Farmers Insurance may include discounts for mature driver, multi-car, teen driver, bundle discounts, youthful driver, and business and professional.
State Farm includes discounts for multiple autos, safe vehicle, multiple policy, defensive driving training, and anti-theft.
Liberty Mutual has discounts for multi-policy, newly married, new graduate, new vehicle discount, safety features, and good student.
MetLife policyholders can earn discounts including good student, good driver, accident-free, claim-free, and defensive driver.
Progressive may have discounts that include homeowner, multi-policy, online quote discount, continuous coverage, multi-vehicle, good student, and online signing.

If you need lower rates, check with each company how many discounts you can get. Some credits might not apply in every state. To view providers that provide some of the discounts listed above, click here to view.

Your situation helps dictate your coverage

When it comes to choosing adequate coverage, there isn’t really a single plan that fits everyone. Every insured’s situation is different so this has to be addressed. Here are some questions about coverages that can help discover if your situation may require specific advice.

When would I need rental car insurance?
When would I need additional glass coverage?
What are the financial responsibility laws in my state?
Who is covered when they drive my 2004 Toyota RAV4?
How many claims can I have before being cancelled?
Is business property covered if stolen from my car?
Am I covered when using my vehicle for business?

If you’re not sure about those questions, then you may want to think about talking to an agent. To find an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area.

How your RAV4 insurance rates are determined

Many factors are used when pricing auto insurance. Some factors are common sense like an MVR report, but other criteria are more transparent such as whether you are married or how financially stable you are.

Listed below are a few of the “ingredients” used by companies to determine premiums.

Get hitched and pay lower costs – Being married may cut your premiums on your car insurance bill. Having a spouse means you’re more mature and statistics show being married results in fewer claims.
Insure your auto and home with one company – Lots of car insurance companies afford better rates to buyers who carry more than one policy, otherwise known as a multi-policy discount. Even with this discount applied, consumers should still comparison shop to help ensure you have the lowest rates.
Deter theft and pay less – Owning a car that has a built-in theft deterrent system can help lower your premiums. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent auto theft and help lower rates.
Occupation impacts rates – Did you know your career choice can influence rates? Careers like judges, social workers and accountants are shown to have the highest average rates in part from intense work-related stress and lots of time spent at work. Other careers like farmers, historians and retirees generally pay rates lower than average on RAV4 coverage.
An active claims history can cost you more – Auto insurance companies generally give discounts to drivers that do not abuse their auto insurance. If you’re an insured who likes to file claims you can definitely plan on much higher rates or policy non-renewal. Your car insurance is intended for the large, substantial claims.
Teenage drivers pay more – Young drivers are known to be inattentive when behind the wheel therefore car insurance rates are much higher. Parents adding a beginning driver to your policy can be quite pricey. More experienced drivers have been proven to be more responsible, are lower risk to insure .
Liability protection risk factors in – The liability section of your policy will protect you if a court rules you are at fault for damages caused by your negligence. Liability insurance provides legal defense coverage up to the limits shown on your policy. Liability is cheap when compared to the cost of physical damage coverage, so drivers should buy more than the minimum limits required by law.

Why you might not save $417 a year

Companies like State Farm and Allstate regularly use ads on TV and radio. All the ads make an identical promise of big savings if you change to their company. But how can every company claim to save you money?

Many companies give the cheapest rates for a prospective insured that will most likely be profitable. An example of a profitable insured might be described as between the ages of 30 and 50, is a homeowner, and drives a safe vehicle. Anyone who fits that profile may get the lowest prices and will probably save a lot if they switch.

Potential customers who don’t measure up to these stringent criteria will get higher premium rates which leads to the prospect going elsewhere. If you listen to the ad wording, they say “drivers that switch” not “everybody who quotes” can save as much as they claim. That is how insurance companies can claim big savings. Because each company has a different risk profile, you really should compare quotes as often as possible. It’s impossible to know which company will fit you best based on your risk profile.

Car insurance coverage breakdown

Learning about specific coverages of a car insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. These are typical coverages found on most car insurance policies.

Auto collision coverage

Collision insurance will pay to fix damage to your RAV4 from colliding with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims such as backing into a parked car, crashing into a ditch, hitting a mailbox and crashing into a building. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Another option is to bump up the deductible to bring the cost down.

Comprehensive coverages

This will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like theft, hitting a deer, damage from getting keyed, vandalism and damage from a tornado or hurricane. The most a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like ambulance fees, prosthetic devices, surgery, doctor visits and funeral costs. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay

Coverage for liability

Liability insurance can cover damage that occurs to other people or property in an accident. It protects YOU from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 100/300/100 that translate to $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage protects against claims such as repair bills for other people’s vehicles, emergency aid, medical expenses, pain and suffering and loss of income. How much coverage you buy is your choice, but consider buying as large an amount as possible.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked.

Smart consumers save more

As you restructure your insurance plan, make sure you don’t skimp on critical coverages to save a buck or two. In too many instances, drivers have reduced liability coverage limits only to regret at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to buy the best coverage you can find at the best cost, but don’t skip important coverages to save money.

Budget-friendly auto insurance is attainable on the web and with local insurance agents, and you should compare price quotes from both to have the best rate selection. A few companies may not offer rate quotes online and these regional carriers provide coverage only through independent agents.

We just covered a lot of ways to get a better price on 2004 Toyota RAV4 insurance. The key concept to understand is the more providers you compare, the better chance you’ll have of finding cheap auto insurance. You may even find the best rates are with a small local company. Smaller companies can often insure niche markets at a lower cost compared to the large companies like State Farm and Allstate.