Guide to Buying Toyota Camry Insurance for Less
If searching for lower car insurance rates was a good time, we'd have no problem finding the best rate. But we always seem to pay too much for coverage and most people would rather go to the dentist. Buying insurance on your Toyota Camry might leave you feeling the same way.
Step One: Compare Rates from Multiple Companies
Years ago, your local insurance agent was the only way to quote a buy a car insurance policy. Times have changed!
Comparing apples-to-apples price quotes for your Toyota Camry is made easy by only requiring one form to be completed. This will shop your coverage with multiple companies and allow you to easily compare rates.
Simply click the link below to enter your information. Once complete, you can compare the returned rates and make a decision on which policy to purchase.
Use the Same Coverages! It's really important that when doing multiple quotes for your Camry that you use identical coverages for liability, comprehensive and collision. If you use different values, it's impossible to determine which company has the lower rates.
Step Two: Techniques to Lower your Camry Insurance Rates
What you actually pay to insure your Toyota is determined by many factors, some of which you have no control over.
- You can save money on your physical damage coverage (comprehensive and collision) by increasing your deductibles. Higher deductibles mean you are willing to pay more before the insurance company covers a claim.
- If you're not sure what your credit rating is, check it now. Car insurance companies use your credit score to determine the rates you pay, so the better your credit, the less you will pay.
- The easiest way to INCREASE your car insurance rates is to add a teenage driver to your policy. There aren't many ways to prevent a rate increase, but if you can rate them on an older vehicle, it can help.
- Having recently completed a class in driver's safety could earn you a discount of 5% to 10%. Check with your insurance company to see if they offer that credit.
- If you think the only financial impact of a speeding ticket is a fine and court costs, think again. Insurance companies will raise your rates for up to three years for a single ticket.
- Having any gaps in coverage (known as a lapse) is bad in the eyes of any insurance company. Make sure you keep coverage in force at all times by synchronizing the expiration and effective dates of your policies.
- Most Toyota vehicles come with standard safety features such as air bags and passive restraints, and those will help keep your insurance costs down.
- Owning a home takes financial responsibility, and car insurance companies will often give you a break just for being a homeowner.
- A claim-free discount can help keep your rates down, so don't file claims that are only marginally more than your deductible. You're better off keeping the discount.
- Membership has it's privleges. If you're a member of a professional organization, check to see if your company offers discounts to its members. It can add up to 5% or more.
- Auto theft is a big problem that costs us all money, but if your car is on the list of the most frequently stolen autos, you might be paying a little extra because of the temptation to thieves.
Step Three: Make an Informed Buying Decision
Car insurance is pretty easy to buy online, but you do need to be aware that it is a legally binding contract. You need to have funds available for a down payment as well as review your coverages for any insufficiencies.
On your new policy, double check that the effective date is the same as the date you are cancelling your old policy. This avoids any lapse in coverage which can cause an increase in your rates.
If this is a new policy with only the Toyota on it, be sure to have coverage before leaving the dealership or car lot. If you're adding it to an existing policy, you have anywhere from 15 to 30 days depending on the company. Comprehensive (or Other than Collision) and collision coverage will extend to your new Camry if you current have a vehicle insured with those coverages. If you aren't insured or only carry basic liability coverage, then you will be inadequately insured until you add the vehicle to your policy with full coverage.
Once you finish buying your new policy, you will need to print out the proof-of-insurance card that is provided by your new company. This card is proof that you meet the state's minimum liability limits and is required to be kept in your vehicle. If you're considered a high-risk driver, having been convicted of a DUI, DWI, reckless driving or had your license suspended, you may need to file a SR-22. Be sure your new company files this form with your state DMV. Failure to do so can result in losing your right to drive.
Consumer Insurance Information
The Insurance Information Institute website has a great library of car insurance topics that cover claims, replacement parts, rental cars and more.