Cheaper 1998 Toyota Camry Insurance Rates

Expensive insurance coverage can drain your bank account and make it hard to pay other bills. Shopping your coverage around is a smart way to make sure you’re not throwing money away. With consumers having so many insurance providers from which to choose, it can be impossible to find the lowest cost car insurance company.

It’s a good habit to compare rates periodically since insurance rates tend to go up over time. If you had the best deal for Camry insurance a year ago there is a good chance you can find better rates now. Block out anything you think you know about insurance coverage because I’m going to let you in on the secrets to how to use online quotes to reduce your cost while improving coverage.

The purpose of this post is to help you learn the best way to quote coverages and some tricks to saving. If you currently have a car insurance policy, you will be able to lower your premiums substantially using this strategy. Drivers only need to know the proper way to compare rates over the internet.

Compare Insurance Coverage Costs

Reducing your 1998 Toyota Camry insurance rates can be surprisingly simple. Just take a couple of minutes to get quotes online with multiple companies. It is quite easy and can be accomplished using a couple different methods.

  1. The best way to compare a lot of rates at once is a comparison rater form (click to open form in new window). This type of form keeps you from doing boring form submissions for every insurance coverage company. A single, simple form will get you rate comparisons from insurance coverage companies with the best prices.
  2. A more time consuming way to get quotes online requires a visit to the website of each company to complete their respective quote request forms. For sake of this example, we’ll pretend you want to compare Progressive, Safeco and Geico. You would have to spend time on each company’s site and enter your information, and that’s why the first method is more popular. For a list of links to companies insuring cars in your area, click here.

Which method you use is up to you, but make absolute certain that you use identical coverage information with each company. If each company quotes differing limits it’s not possible to decipher which rate is best.

Do you qualify for discounts?

The cost of insuring your cars can be expensive, but discounts can save money and there are some available to help bring down the price. Some trigger automatically at the time of purchase, but less common discounts must be requested specifically prior to receiving the credit. If they aren’t giving you every credit you qualify for, you’re paying more than you need to.

  • Auto/Home Discount – When you have multiple policies with the same insurance company you may earn at least 10% off all policies.
  • Sign Online – Certain companies may give you up to $50 for buying a policy and signing up on their website.
  • Accident Forgiveness – A few companies will allow you to have one accident before your rates go up if you are claim-free for a set time period.
  • Discount for Swiching Early – Some insurance companies reward drivers for switching policies prior to your current policy expiration. The savings is around 10%.
  • Drivers Education – Require your teen driver to take driver’s ed class if offered at their school.
  • Drive Safe and Save – Drivers who avoid accidents may save up to 50% more for Camry insurance than less cautious drivers.
  • Save over 55 – Mature drivers can possibly qualify for reduced rates for Camry insurance.
  • Save with a New Car – Putting insurance coverage on a new car can save up to 30% due to better safety requirements for new cars.
  • Passive Restraints and Air Bags – Cars that have air bags and/or automatic seat belt systems can receive discounts of more than 20%.

Consumers should know that some credits don’t apply to the entire cost. The majority will only reduce individual premiums such as collision or personal injury protection. Even though it may seem like all the discounts add up to a free policy, you won’t be that lucky. Any qualifying discounts will bring down the amount you have to pay.

For a list of insurers offering insurance coverage discounts, click here to view.

Elements that influence Toyota Camry insurance rates

An important part of buying insurance is that you know the rating factors that go into determining car insurance rates. When you know what positively or negatively controls the rates you pay empowers consumers to make smart changes that may reward you with big savings.

Listed below are some of the factors used by your company to calculate rates.

  • How credit affects car insurance rates – Having a bad credit history is a big factor in calculating your car insurance rates. If your credit score is not that good, you could save money insuring your 1998 Toyota Camry by repairing your credit. People with good credit tend to be more responsible as compared to drivers with lower credit scores.
  • Your job and insurance rates – Did you know your occupation can influence how much you pay for car insurance? Careers like real estate brokers, business owners and financial analysts tend to have higher average rates due to high stress levels and long work hours. Conversely, occupations such as pilots, engineers and performers receive lower rates for Camry insurance.
  • Increase deductibles and save – Physical damage coverage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your Toyota. A few examples of covered claims would be collision with another vehicle, damage caused by hail, and windstorm damage. Your deductibles are how much you are required to spend in the event of a claim. The higher the amount you have to pay, the less your car insurance will be for Camry insurance.
  • Pay less if you’re married – Having a wife or husband can get you a discount on your policy. Having a significant other translates into being more responsible and it’s statistically proven that being married results in fewer claims.
  • Where you reside plays a part – Being located in a small town is a positive aspect when talking about car insurance. Urban drivers have more traffic problems and a longer drive to work. Less people living in that area translates into fewer accidents and a lower car theft rate.
  • Rate your vehicle for proper use – The more you drive in a year’s time the more you will pay for car insurance. Most companies price each vehicle’s coverage based upon how you use the vehicle. Vehicles used primarily for pleasure use get more affordable rates than vehicles that are driven to work every day. Improper usage on your Camry can cost quite a bit. Double check that your car insurance policy shows the correct driver usage.
  • Bad driving skills means higher rates – Your driving citation history impacts your car insurance rates tremendously. Good drivers tend to pay less for car insurance compared to drivers with tickets. Even one moving violation can increase rates by twenty percent. Drivers who have flagrant citations such as DWI, reckless driving or hit and run convictions may need to file a SR-22 to the state department of motor vehicles in order to keep their license.

Don’t assume everyone needs the same coverage

When choosing the right insurance coverage, there is no “perfect” insurance plan. Each situation is unique so your insurance should reflect that Here are some questions about coverages that might point out if your situation could use an agent’s help.

  • Is my babysitter covered when using my vehicle?
  • Is my Toyota Camry covered if I use it for business?
  • Does my liability insurance cover pulling a trailer or camper?
  • Do I have coverage when using my vehicle for my home business?
  • Which is better, split liability limits or combined limits?
  • Why do I need rental car insurance?
  • When should I not file a claim?
  • Why is insurance for a teen driver so high?
  • Am I covered if hit by an uninsured driver?

If you’re not sure about those questions then you might want to talk to an insurance agent. To find an agent in your area, take a second and complete this form or go to this page to view a list of companies. It only takes a few minutes and you can get the answers you need.

Can switching companies really save?

Consumers can’t get away from ads for the lowest price auto insurance from companies such as Allstate, Geico and Progressive. All the ads say the same thing of big savings if you move your policy.

How do they all claim to save you money? It’s all in the numbers.

All companies have a preferred profile for the right customer that earns them a profit. For example, a desirable insured could possibly be between 30 and 50, owns a home, and drives newer vehicles. A propective insured who fits that profile receives the best rates and most likely will save quite a bit of money when switching.

Consumers who fall outside this ideal profile will have to pay higher prices which leads to business not being written. The ads say “customers that switch” but not “drivers who get quotes” save that much money. That is how companies can advertise the savings.

Because of the profiling, it’s extremely important to get as many quotes as possible. It’s not possible to predict which car insurance company will give you the biggest savings on Toyota Camry insurance.

Specific coverages for a 1998 Toyota Camry

Understanding the coverages of your insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find the normal coverages found on most insurance policies.

Comprehensive coverage – Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things such as damage from a tornado or hurricane, damage from getting keyed, theft, a tree branch falling on your vehicle and hail damage. The highest amount your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Liability insurance – Liability coverage protects you from damages or injuries you inflict on people or other property by causing an accident. This coverage protects you against claims from other people, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage protects against things such as bail bonds, loss of income, structural damage and medical services. How much liability should you purchase? That is up to you, but consider buying as high a limit as you can afford.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and damage to your 1998 Toyota Camry.

Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family. Usually these coverages are similar to your liability insurance amounts.

Collision – Collision insurance pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers things such as crashing into a ditch, driving through your garage door, sideswiping another vehicle, damaging your car on a curb and colliding with another moving vehicle. This coverage can be expensive, so you might think about dropping it from lower value vehicles. You can also choose a higher deductible to get cheaper collision coverage.

Medical payments coverage and PIP – Med pay and PIP coverage pay for expenses for things like pain medications, chiropractic care and rehabilitation expenses. They are often used to fill the gap from your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

One last thing about your coverage

As you restructure your insurance plan, make sure you don’t reduce coverage to reduce premium. In many instances, an insured cut collision coverage and learned later that the small savings ended up costing them much more. The ultimate goal is to find the BEST coverage at the best price.

We’ve covered a lot of tips how to save on 1998 Toyota Camry insurance. The key concept to understand is the more you quote, the better likelihood of reducing your rate. You may be surprised to find that the lowest priced car insurance comes from a smaller regional carrier. These companies can often insure niche markets at a lower cost than their larger competitors like Allstate, Geico and Progressive.

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