2010 Toyota Prius Insurance Cost – 8 Discounts for Cheaper Prices

Tired of paying out the nose to insure your Toyota every month? You are no different than millions of other consumers.

With so many different company options, it can be impossible to locate the most affordable company.

Finding the best rates is not rocket science. Basically, every driver who carries insurance stands a good chance to be able to save money. But car owners must learn how the larger insurance companies market on the web and use this information to your advantage.

Verify you’re getting all your discounts

Companies that sell car insurance don’t necessarily list every discount very clearly, so the following is a list of some of the more common and the harder-to-find discounts you could be receiving.

  • New Vehicle Savings – Adding a new car to your policy can be considerably cheaper because new vehicles have to meet stringent safety requirements.
  • Driver Safety – Successfully completing a course in driver safety could cut 5% off your bill if you qualify.
  • Lower Rates for Military – Being deployed with a military unit may qualify for rate reductions.
  • Low Mileage Discounts – Keeping the miles down on your Toyota can qualify you for a substantially lower rate.
  • Multiple Vehicles – Buying coverage for multiple vehicles on one policy qualifies for this discount.
  • Claim Free – Good drivers with no accidents can earn big discounts as compared to accident-prone drivers.
  • Braking Control Discount – Anti-lock brake equipped vehicles can avoid accidents and earn discounts up to 10%.
  • No Charge for an Accident – Certain companies will forgive one accident without raising rates as long as you don’t have any claims prior to the accident.

As a disclaimer on discounts, most discount credits are not given to the overall cost of the policy. Most only reduce the cost of specific coverages such as liability and collision coverage. So even though it sounds like you would end up receiving a 100% discount, companies don’t profit that way.

A partial list of companies that may offer these discounts are:

It’s a good idea to ask every prospective company which discounts they offer. Discounts might not be offered everywhere.

When should I talk to an agent?

When buying the best insurance coverage coverage for your personal vehicles, there really is no best way to insure your cars. Each situation is unique so your insurance needs to address that. For example, these questions can help discover whether you could use an agent’s help.

  • Will filing a claim cost me more?
  • Is a fancy paint job covered?
  • What is PIP insurance?
  • Do I have newly-aquired coverage?
  • Which is better, split liability limits or combined limits?
  • Do I have coverage when using my vehicle for my home business?
  • Does insurance cover damages from a DUI accident?
  • Does my policy cover my teen driver if they drive my company car?
  • Do I need more liability coverage?

If it’s difficult to answer those questions but a few of them apply, you might consider talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies.

Save $457 a year? Really?

Insurance providers like 21st Century, Allstate and State Farm consistently run television and radio advertisements. They all make the same claim that you can save if you change to them. But how can every company make almost identical claims?

Different companies can use profiling for the type of customer that makes them money. For instance, a profitable customer could be over the age of 50, has no driving citations, and drives newer vehicles. A propective insured who matches those parameters will get the preferred rates and as a result will probably save a lot of money.

Drivers who don’t qualify for the “perfect” profile will be quoted a higher premium and this can result in the driver buying from a lower-cost company. The ads say “customers that switch” not “everybody who quotes” save that much. That’s the way insurance companies can confidently state the savings. This emphasizes why you should compare many company’s rates. It is impossible to predict which insurance companies will give you the biggest savings on Toyota Prius insurance.

Car insurance coverage breakdown

Knowing the specifics of a car insurance policy aids in choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy. These are typical coverages available from car insurance companies.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance pay for expenses for EMT expenses, dental work, chiropractic care, doctor visits and X-ray expenses. They can be used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and may carry a deductible

Collision coverages – Collision coverage covers damage to your Prius resulting from a collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as hitting a parking meter, damaging your car on a curb and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from older vehicles. Another option is to increase the deductible to get cheaper collision coverage.

Auto liability insurance – This will cover damage that occurs to other people or property in an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage pays for things like loss of income, emergency aid, pain and suffering and funeral expenses. How much liability coverage do you need? That is a personal decision, but consider buying as high a limit as you can afford.

Uninsured/Underinsured Motorist (UM/UIM) – This gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses 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 doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family.

Comprehensive insurance – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as falling objects, vandalism, a tree branch falling on your vehicle, fire damage and damage from a tornado or hurricane. The maximum amount a car insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Be a penny pincher

Throughout this article, we presented quite a bit of information on how to lower your 2010 Toyota Prius insurance rates. It’s most important to understand that the more companies you get rates for, the higher your chance of finding lower rates. Drivers may discover the biggest savings come from a smaller regional carrier. Smaller companies often have lower prices on specific markets than their larger competitors like Geico and State Farm.

As you restructure your insurance plan, make sure you don’t sacrifice coverage to reduce premiums. There have been many situations where consumers will sacrifice collision coverage to discover at claim time they didn’t have enough coverage. The aim is to buy the best coverage you can find at a price you can afford.

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