2014 Toyota Tacoma Insurance Cost – 6 Ideas for Cheaper Prices

Looking for cheaper car insurance rates for your Toyota Tacoma? I can’t think of anyone who likes having to buy car insurance, in particular when they are paying too much.

Insurance companies such as Progressive, Geico and Farmers Insurance continually hit you with catchy ads and consumers find it hard to see past the corporate glitz and do the work needed to find the best deal.

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Performing a rate comparison can be challenging if you don’t utilize the fastest way to get free quotes. You could spend the better part of a day discussing policy coverages with insurance companies in your area, or you could save time and use online quoting to get rates in a matter of minutes.

Many companies belong to an insurance system where prospective buyers enter their policy data once, and at least one company then returns a price quote based on the submitted data. This saves time by eliminating form submissions for each company you want a rate for. To compare pricing click here (opens in new window).

One minor caviat to using this type of form is you cannot specify the companies you want pricing from. So if you prefer to choose individual companies to request quotes from, we have a page of companies who write insurance in your area. View list of insurance companies.

It’s up to you which method you use, but ensure you are comparing exactly the same coverage information for every company. If you compare different values for each quote it will be impossible to make a fair comparison for your Toyota Tacoma. Slightly different limits can mean a large discrepancy in price. And when comparing insurance rates, know that having more price comparisons will increase your chances of finding the best offered rates.

Discounts are great for lower rates

Properly insuring your vehicles can get expensive, but there could be available discounts that can drop the cost substantially. Some trigger automatically at quote time, but a few must be specially asked for before being credited.

  • Driver Safety – Completing a defensive driving course can save you 5% or more if you qualify.
  • Memberships – Participating in a qualifying organization could qualify you for a break when buying car insurance on Tacoma coverage.
  • Safe Driver Discount – Drivers who don’t get into accidents may save up to 50% more on Tacoma coverage than drivers with accident claims.
  • Discount for Good Grades – A discount for being a good student can save 20 to 25%. This discount can apply until age 25.
  • Early Switch Discount – Select companies give a discount for switching policies prior to your current policy expiration. It’s a savings of about 10%.
  • Accident Waiver – A few companies will allow you to have one accident before your rates go up if your claims history is clear prior to the accident.

As a disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. Some only reduce specific coverage prices like comp or med pay. Just because it seems like having all the discounts means you get insurance for free, it just doesn’t work that way. But any discount will cut the amount you have to pay.

A partial list of companies who might offer these discounts may include but are not limited to:

Before buying, ask each company how you can save money. Discounts might not apply in your area.

You may need specialized coverage

When choosing the right insurance coverage, there really is no single plan that fits everyone. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. For instance, these questions can help discover whether your personal situation will benefit from professional help.

  • Can I afford to pay high deductible claims out of pocket?
  • Will I lose any money if I cancel my policy before it expires?
  • Am I covered when driving in Canada or Mexico?
  • Should I bundle my homeowners policy with my auto?
  • Is pleasure use cheaper than using my 2014 Toyota Tacoma to commute?
  • What is roadside assistance coverage?
  • Is motorclub coverage worth it?
  • When can my company non-renew my policy?

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 want to speak to an agent in your area, complete this form or go to this page to view a list of companies.

The coverage is in the details

Knowing the specifics of auto insurance can be of help when determining the right coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and reading a policy is terribly boring. Listed below are typical coverages found on the average auto insurance policy.

Liability car insurance

This protects you from damage or injury you incur to a person or their property in an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see liability limits of 50/100/50 that means you have a $50,000 limit per person for injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.

Liability coverage pays for claims like loss of income, court costs, medical expenses, funeral expenses and bail bonds. How much liability should you purchase? That is your choice, but buy higher limits if possible.

Collision insurance

This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.

Collision insurance covers things like colliding with another moving vehicle, colliding with a tree, hitting a mailbox, crashing into a ditch and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from older vehicles. You can also increase the deductible to save money on collision insurance.

Uninsured or underinsured coverage

This gives you protection when the “other guys” do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your Toyota Tacoma.

Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently these coverages are set the same as your liablity limits.

Medical expense coverage

Med pay and PIP coverage provide coverage for expenses for chiropractic care, ambulance fees, EMT expenses, funeral costs and X-ray expenses. They can be used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. Coverage applies to both the driver and occupants as well as if you are hit as a while walking down the street. PIP is not an option in every state and may carry a deductible

Comprehensive protection

Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as a broken windshield, falling objects and damage from getting keyed. The highest amount your auto insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Final thoughts

We just showed you a lot of ways to shop for 2014 Toyota Tacoma insurance online. The key concept to understand is the more rate quotes you have, the better chance you’ll have of finding lower rates. You may even find the best price on insurance coverage is with the least-expected company. Regional companies can often provide lower rates in certain areas than the large multi-state companies such as State Farm and Allstate.

Budget-conscious insurance can be bought online and also from your neighborhood agents, and you need to price shop both to get a complete price analysis. Some insurance coverage companies may not provide you the ability to get quotes online and these small, regional companies work with independent agents.

More tips and info about insurance coverage can be read at these sites: