Cheaper 2007 Toyota Prius Insurance Quotes

Finding low cost premium rates on insurance coverage is always hard for people new to quoting coverage prices online. There are so many options that it can easily be a difficult mission to find the best premium rates.

It’s a great practice to do price comparisons at least once a year because prices are constantly changing. Even if you think you had the lowest rates on Prius coverage two years ago you may be paying too much now. Forget all the misinformation about insurance coverage because it’s time to teach you the best way to properly buy coverages and cut your premium.

Finding affordable coverage is not that difficult. If you are paying for car insurance now, you will most likely be able to cut costs considerably using these tips. Although car owners do need to understand how big insurance companies compete online and apply this information to your search.

How to compare insurance price quotes

There are several ways to shop for insurance, but one way is easier and takes less work. You could waste time talking to insurance companies in your area, or you can stay home and use online quoting to maximize your effort.

Most of the larger companies enroll in a system where prospective buyers enter their coverage request one time, and every company can give them a price based on that information. This prevents consumers from doing quotation requests to every company.

To get comparison pricing now click here (opens in new window).

The one downside to getting quotes like this is you cannot specify the providers to receive prices from. So if you want to choose specific providers to compare, we have assembled a list of the cheapest insurance companies in your area. Click here to view list.

You can choose any of those ways to find more affodable coverage, but ensure you’re using equivalent quote information on every quote you get. If the quotes have mixed coverages it will be next to impossible to decipher which rate is best. Just slight variations in coverages could mean much higher rates. Just remember that obtaining a wide range of quotes will improve the odds of getting the best offered rates.

How insurance providers calculate Toyota Prius insurance rates

It’s important that you understand the different types of things that go into determining your insurance rates. When you know what positively or negatively determines base rates, this allows you to make educated decisions that can earn you lower rates.

The list below includes a few of the “ingredients” that factor into prices.

  • Too many insurance claims will drive prices up – Car insurance companies give lower rates to people who do not rely on their insurance for small claims. If you file claims often, you can pretty much guarantee either a policy non-renewal or much higher rates. Auto insurance is meant to be used in the event of claims that pose a financial burden.
  • Cut insurance rates and deter theft – Buying a car that has a built-in theft deterrent system can help lower your rates. Theft deterrent systems such as OnStar, LoJack tracking, and tamper alarms all help prevent car theft.
  • Know your credit rating – An insured’s credit score is a big factor in calculating your premium rate. If your credit history is low, you could potentially save money when insuring your 2007 Toyota Prius by repairing your credit. Insureds with excellent credit scores tend to be better risks to insure than drivers with lower ratings.
  • Save money by eliminating extra coverages – There are a ton of extra coverages that you can buy when buying insurance. Coverage for things like personal injury protection, accident forgiveness, and membership fees are examples of these. You may think they are a good idea when you first buy your policy, but now you might not need them so eliminate the coverages to reduce your premium.
  • Vehicles with better crash test results cost less to insure – Cars with five star safety ratings get lower rates. These vehicles reduce the chance of injuries and any reduction in injury severity means less money paid by your insurance company and cheaper rates on your policy.
  • Never let your coverage lapse – Having a lapse in insurance coverage is a sure-fire way to pay more for insurance. In addition to paying higher rates, getting caught without coverage could result in a hefty fine and possibly a revoked license.
  • Driving citations inflate prices – Attentive drivers get better rates than bad drivers. Getting just one chargable violation can increase the cost of insurance by as much as thirty percent. Drivers unfortunate enough to have dangerous citations like DWI, reckless driving or hit and run convictions may face state-mandated requirements to complete a SR-22 with their state DMV in order to drive a vehicle legally.

Get cheap insurance with discounts

Insurance is expensive, but there could be significant discounts that could drop your premiums quite a bit. Some discounts apply automatically at the time of quoting, but a few need to be inquired about before they will apply. If you check and find you aren’t receiving every discount you qualify for, it’s possible you qualify for a lower rate.

  • Auto/Life Discount – Not all insurance carriers offer life insurance, but some may give you a break if you buy a life insurance policy as well.
  • E-sign Discounts – A handful of larger companies provide a small discount just for signing your application digitally online.
  • Multi-policy Discount – If you can combine your auto and homeowners policy and insure them both with the same insurance company you may save up to 20% and get you cheaper insurance.
  • Driving Data Discount – Drivers that enable data collection to look at their driving habits through the use of a telematics system like Allstate’s Drivewise could save a few bucks if they exhibit good driving behavior.
  • Seat Belts Save – Requiring all passengers to use their safety belts can save up to 15% off PIP or medical payments premium.
  • No Charge for an Accident – Not necessarily a discount, but a handful of insurance companies may permit one accident before they charge you more for coverage so long as you are claim-free prior to being involved in the accident.

A little disclaimer on discounts, some of the credits will not apply to your bottom line cost. A few only apply to the price of certain insurance coverages like medical payments or collision. Even though the math looks like all those discounts means the company will pay you, you won’t be that lucky.

A list of companies and a selection of discounts include:

  • Travelers may include discounts for multi-car, driver training, good student, new car, hybrid/electric vehicle, and save driver.
  • 21st Century offers discounts including 55 and older, theft prevention, automatic seat belts, air bags, driver training, and teen driver.
  • State Farm includes discounts for good student, defensive driving training, passive restraint, multiple policy, and accident-free.
  • GEICO discounts include military active duty, driver training, anti-theft, anti-lock brakes, defensive driver, and membership and employees.
  • SAFECO offers discounts for teen safety rewards, multi-car, homeowner, accident prevention training, and drive less.
  • AAA has discounts for pay-in-full, multi-car, good student, multi-policy, education and occupation, AAA membership discount, and anti-theft.

If you need lower rates, check with all the companies which discounts they offer. Some discounts listed above may not apply to policyholders in every state. For a list of insurance companies with the best insurance discounts, follow this link.

Tailor your insurance coverage to you

When choosing proper insurance coverage, there isn’t really a “perfect” insurance plan. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that can aid in determining if your insurance needs would benefit from professional advice.

  • Am I better off with higher deductibles on my 2007 Toyota Prius?
  • Do all my vehicles need collision coverage?
  • When should I remove comp and collision on my 2007 Toyota Prius?
  • Am I covered if I hit my neighbor’s mailbox?
  • Am I insured when driving a different vehicle?
  • Do I need special endorsements for business use of my vehicle?
  • Am I covered when driving on a suspended license?
  • Is my nanny covered when driving my vehicle?
  • Does coverage extend to Mexico or Canada?

If you don’t know the answers to these questions but a few of them apply, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form.

Auto insurance 101

Understanding the coverages of your auto insurance policy can help you determine appropriate coverage and proper limits and deductibles. Auto insurance terms can be confusing and even agents have difficulty translating policy wording.

Collision insurance

Collision coverage will pay to fix damage to your Prius resulting from a collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things such as colliding with another moving vehicle, sustaining damage from a pot hole and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Comprehensive auto coverage

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

Comprehensive coverage protects against things like damage from a tornado or hurricane, vandalism, damage from getting keyed and a tree branch falling on your vehicle. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Auto liability insurance

This can cover damage that occurs to other’s property or people. This insurance protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and property damage coverage for $100,000.

Liability can pay for things such as emergency aid, legal defense fees, bail bonds, loss of income and funeral expenses. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for funeral costs, surgery and chiropractic care. The coverages can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. They cover you and your occupants and also covers any family member struck as a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay

UM/UIM (Uninsured/Underinsured Motorist) coverage

This provides protection from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers only purchase the least amount of liability that is required, 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.

Be a money saver!

In this article, we covered some good ideas how you can get a better price on 2007 Toyota Prius insurance. The most important thing to understand is the more quotes you get, the higher your chance of finding cheaper insurance. You may even discover the best price on insurance is with some of the smallest insurance companies.

Affordable 2007 Toyota Prius insurance is available from both online companies in addition to local insurance agencies, so you should compare both to have the best rate selection. Some companies may not have online price quotes and usually these small, regional companies prefer to sell through independent agents.

When you buy insurance online, never reduce needed coverages to save money. In too many instances, drivers have reduced liability coverage limits and found out when filing a claim they didn’t purchase enough coverage. Your aim should be to buy the best coverage you can find at the lowest possible cost, not the least amount of coverage.

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