Save on 2008 Toyota Prius Insurance Rates

Searching for lower auto insurance rates for your Toyota Prius? Are you intimidated by the crazy number of auto insurance company choices? Many other drivers are as well. Consumers have so many options that it can be a big hassle to find the lowest price.

You should take the time to check auto insurance prices before your policy renews because prices go up and down regularly. Despite the fact that you may have had the best price on Prius insurance a couple years back you will most likely find a better rate today. Starting right now, forget all the misinformation about auto insurance because we’re going to show you the only way to reduce your cost while increasing coverage.

This article will help educate you on the best way to quote coverages and some money-saving tips. If you currently have car insurance, you stand a good chance to be able to lower your premiums substantially using this information. But car owners can benefit by having an understanding of how the larger insurance companies sell insurance online and take advantage of how the system works.

Factors influencing Toyota Prius insurance rates

An important part of buying insurance is that you know the different types of things that come into play when calculating your car insurance rates. When you know what positively or negatively determines base rates allows you to make educated decisions that can help you get better car insurance rates.

The list below includes some of the items companies use to determine your rates.

  • A clean driving record saves money – A bad driving record has a huge affect on how much you pay. Even one speeding ticket can boost insurance rates by twenty percent. Careful drivers receive lower rates compared to drivers with tickets. If you have flagrant violations such as reckless driving, hit and run or driving under the influence may find they need to submit a SR-22 form with their state DMV in order to keep their license.
  • Your location is important – Choosing to live in less populated areas can be a good thing when it comes to car insurance. Drivers who live in large cities have much more traffic and longer commute times. Fewer people means fewer accidents and also fewer theft and vandalism claims.
  • Lower deductibles cost more – Physical damage insurance, otherwise known as comp (or other than collision) and collision, protects your Toyota from damage. Examples of covered claims would be running into the backend of another car, damage caused by hail, and windstorm damage. Your deductibles are the amount of money you are willing to pay out-of-pocket before a claim is paid by your company. The more money you’re willing to pay, the less your car insurance will be on Prius insurance.
  • Having a spouse can save you money – Being married can get you a discount when buying car insurance. It is viewed as being more responsible and it’s proven that drivers who are married are more cautious.
  • Car features impact rates – Driving a car with an alarm system can save you a little every year. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder your car from being stolen.
  • Lower miles equals lower premium – The higher the mileage driven every year the more you will pay for car insurance. Most companies rate vehicles based on how the vehicle is used. Autos used primarily for pleasure use get more affordable rates than those used for commuting. If your policy improperly rates your Prius can cost quite a bit. Double check that your car insurance declarations sheet properly reflects the correct usage for each vehicle.
  • Better credit scores mean better rates – Credit score is a large factor in determining what you pay for car insurance. Drivers with excellent credit tend to file fewer claims and have better driving records as compared to drivers with lower ratings. So if your credit history is low, you could pay less to insure your 2008 Toyota Prius by improving your credit score.
  • High numbers of claims are not good – If you are a frequent claim filer, you can expect either higher rates or even cancellation. Car insurance companies provide cheaper rates to drivers who are claim-free. Car insurance is intended for the bigger claims that can’t be paid out-of-pocket.

Save on 2008 Toyota Prius insurance

The cost of insuring your cars can be expensive, but you may find discounts that can drop the cost substantially. Some trigger automatically at the time of quoting, but some may not be applied and must be manually applied before you get the savings.

  • No Charge for an Accident – A handful of insurance companies allow you one accident before your rates go up if your claims history is clear prior to the accident.
  • Good Student – A discount for being a good student can earn a discount of 20% or more. This discount can apply up until you turn 25.
  • Multiple Cars – Insuring all your vehicles on the same auto insurance policy qualifies for this discount.
  • Homeowners Savings – Owning a house can help you save on auto insurance because of the fact that having a home demonstrates responsibility.
  • Discounts for Safe Drivers – Safe drivers can get discounts for up to 45% lower rates on Prius insurance than their less cautious counterparts.
  • Accident Free – Good drivers with no accidents pay much less compared to accident-prone drivers.
  • Theft Prevention System – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and will save you 10% or more.
  • Student Driver Training – Require your teen driver to successfully complete driver’s ed class in high school.
  • Payment Method – If you pay your bill all at once rather than paying monthly you could save 5% or more.

Drivers should understand that most discount credits are not given to all coverage premiums. Most cut individual premiums such as collision or personal injury protection. So even though it sounds like having all the discounts means you get insurance for free, it doesn’t quite work that way. Any qualifying discounts will reduce the amount you have to pay.

Companies who might offer these benefits may include but are not limited to:

Before buying, ask each company which discounts they offer. All car insurance discounts might not apply everywhere.

Tailor your coverage to you

When it comes to choosing proper insurance coverage, there really is no one size fits all plan. Everyone’s situation is a little different.

Here are some questions about coverages that may help you determine if your situation would benefit from an agent’s advice.

  • Exactly who is provided coverage by my policy?
  • Is upholstery damage covered by car insurance?
  • Do I need added coverage for expensive stereo equipment?
  • Does my policy pay for OEM or aftermarket parts?
  • Should I file a claim if it’s only slightly more than my deductible?
  • How much liability insurance is required?

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an insurance agent. If you don’t have a local agent, take a second and complete this form.

Auto insurance 101

Having a good grasp of your policy aids in choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be ambiguous and coverage can change by endorsement.

Liability auto insurance

Liability coverage provides protection from injuries or damage you cause to other’s property or people in an accident. It protects YOU against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 25/50/25 which stand for a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Some companies may use a combined single limit or CSL which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as repair costs for stationary objects, structural damage, emergency aid and repair bills for other people’s vehicles. How much liability coverage do you need? That is a personal decision, but buy as large an amount as possible.

Collision insurance

This pays for damage to your Prius resulting from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things like crashing into a ditch, driving through your garage door and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. You can also choose a higher deductible to get cheaper collision coverage.

Comprehensive coverages

Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like hail damage, damage from a tornado or hurricane, damage from getting keyed and a tree branch falling on your vehicle. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Uninsured and underinsured coverage

This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses such as EMT expenses, hospital visits, dental work, rehabilitation expenses and ambulance fees. They can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. It covers you and your occupants and also covers being hit by a car walking across the street. PIP coverage is not an option in every state and may carry a deductible

Get your money’s worth

Budget-conscious 2008 Toyota Prius insurance can be found both online and also from your neighborhood agents, and you need to price shop both so you have a total pricing picture. Some insurance companies may not provide you the ability to get quotes online and most of the time these small insurance companies sell through independent agents.

People who switch companies do it for a number of reasons such as poor customer service, policy cancellation, denial of a claim and even an unsatisfactory settlement offer. It doesn’t matter what your reason, finding a great new company is less work than it seems.

As you restructure your insurance plan, make sure you don’t skimp on coverage in order to save money. There have been many cases where consumers will sacrifice comprehensive coverage or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your strategy should be to find the BEST coverage at the best price.

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