1994 Toyota MR2 Car Insurance Quotes – 8 Tips for Cheaper Rates

Drivers have a choice when trying to find the best price on Toyota MR2 insurance. You can either waste hours contacting agents to get rate comparisons or use the internet to find the lowest rates. There are more efficient ways to find insurance coverage online and you need to know the quickest way to get price quotes for your Toyota and find the cheapest rates from both online companies and local agents.

It is always a good idea to price shop coverage at least once a year because prices change frequently. Despite the fact that you may have had the best deal on MR2 coverage a couple years back there may be better deals available now. So just forget anything you know (or think you know) about insurance coverage because you’re going to learn the fastest and easiest way to properly buy coverages and cut your premium.

Finding Insurance Deals

Reducing your 1994 Toyota MR2 insurance rates is not rocket science. The only thing you need to do is take time getting comparison quotes from different insurance companies. This can be accomplished in a couple of different ways.

The best way consumers can make multiple comparisons is to use a rate comparison form click to view form in new window. This method prevents you from having to do repetitive form submissions for each company. Completing one form gets you coverage quotes from multiple low-cost companies. It’s the fastest way to compare.
A more difficult way to find lower rates requires you to visit the website of each company to complete their respective quote request forms. For examples sake, we’ll pretend you want to compare rates from Farmers, Safeco and State Farm. To get rate quotes you would need to go to every website to input your insurance information, which is why most consumers use the first method.
For a list of links to insurance companies in your area, click here.
The most time-consuming method to compare rates is to drive around to different agent offices. Shopping for insurance online makes this process obsolete unless you have a need for the personal advice of a local agent. However, consumers can get prices online and still use a local agent. We’ll cover that shortly.

It doesn’t matter which method you choose, just make darn sure you compare identical quote information for each price quote. If you use different liability limits it will be next to impossible to determine which rate is truly the best.

Are you getting all your discounts?

Car insurance companies don’t necessarily list every discount in a way that’s easy to find, so we researched both well-publicized as well as the least known savings tricks you should be using. If you aren’t receiving every discount you qualify for, you’re paying more than you need to.

Good Student Discount – Performing well in school can save 20 to 25%. Earning this discount can benefit you up to age 25.
Sign Early and Save – Some companies give discounts for switching policies prior to your current policy expiration. It can save you around 10%.
Payment Discounts – If paying your policy premium upfront instead of paying each month you may reduce your total bill.
Drive Less and Save – Keeping the miles down on your Toyota can qualify you for lower rates on the low mileage vehicles.
Multi-car Discount – Buying coverage for more than one vehicle with the same company qualifies for this discount.
Federal Government Employee – Simply working for the federal government could cut as much as 10% off on MR2 coverage with certain companies.
Air Bag Discount – Factory air bags can get savings of 20% or more.
Safety Course Discount – Completing a defensive driving course could possibly earn you a 5% discount depending on where you live.

A little note about advertised discounts, most discount credits are not given to your bottom line cost. Most cut the price of certain insurance coverages like comprehensive or collision. So even though it sounds like all those discounts means the company will pay you, you’re out of luck.

For a list of insurance companies with the best insurance discounts, click here.

When might I need an agent?

When it comes to choosing the right insurance coverage for your personal vehicles, there is no “best” method to buy coverage. Everyone’s situation is unique.

For example, these questions might point out whether your personal situation could use an agent’s help.

Do I need higher collision deductibles?
Should I put collision coverage on all my vehicles?
Does medical payments coverage apply to all occupants?
Can my teen driver be rated on a liability-only vehicle?
Do I benefit by insuring my home with the same company?
How high should my medical payments coverage be?

If you can’t answer these questions but one or more may apply to you, you might consider talking to an agent. If you want to speak to an agent in your area, fill out this quick form. It only takes a few minutes and can help protect your family.

Auto insurance coverages

Learning about specific coverages of a insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. Insurance terms can be ambiguous and coverage can change by endorsement.

Comprehensive auto coverage

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as damage from flooding, rock chips in glass and a tree branch falling on your vehicle. The most you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage provides protection when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Toyota MR2.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.

Collision coverage

Collision coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against claims like driving through your garage door, crashing into a building, crashing into a ditch, hitting a mailbox and damaging your car on a curb. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Drivers also have the option to increase the deductible to get cheaper collision coverage.

Liability coverage

Liability insurance protects you from injuries or damage you cause to other people or property by causing an accident. This coverage protects you against claims from other people. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 50/100/50 which means $50,000 bodily injury coverage, $100,000 for the entire accident, and property damage coverage for $50,000.

Liability coverage pays for claims such as funeral expenses, court costs and loss of income. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.

Medical payments and PIP coverage

Medical payments and Personal Injury Protection insurance provide coverage for bills for rehabilitation expenses, ambulance fees, X-ray expenses, nursing services and chiropractic care. The coverages can be used to fill the gap from your health insurance plan or if you are not covered by health insurance. Coverage applies to both the driver and occupants and also covers any family member struck as a pedestrian. PIP is only offered in select states but can be used in place of medical payments coverage

In Summary

When trying to cut insurance costs, it’s very important that you do not skimp on coverage in order to save money. In many cases, someone sacrificed liability coverage limits and learned later that it was a big error on their part. The aim is to purchase plenty of coverage at a price you can afford while not skimping on critical coverages.

You just learned a lot of information how to shop for 1994 Toyota MR2 insurance online. The most important thing to understand is the more times you quote, the better your chances of lowering your rates. Drivers may discover the most savings is with the smaller companies.

Low-cost insurance can be bought online in addition to many insurance agents, and you should be comparing both to have the best selection. Some insurance companies do not provide online price quotes and usually these smaller companies provide coverage only through local independent agents.