Penny Pincher's Guide to Insuring a Toyota Supra
If searching for lower car insurance rates was a good time, we'd have no problem finding the best rate. But the reality is, you probably don't enjoy it and you think it costs too much. Finding affordable coverage for your Toyota Supra probably is no different.
Step One: Compare Rates from Multiple Companies
In years past, the only way to purchase car insurance was to visit the office of a local agent. Now that we have the internet, shopping for car insurance online is a snap!
Almost every car insurance company now offers online quotes, and you can actually get insurance quotes for a Toyota Supra without even visiting their websites!
To start saving, have your current policy handy and click the link below. Our short form makes it easy to enter your information and compare rates.
Important Tip! In order to accurately compare rates for your Supra, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Insider Tips for Finding Cheaper Supra Insurance
What you actually pay to insure your Toyota is determined by many factors, some of which you have no control over.
- Some people just like the looks of a higher performance vehicle like the Toyota Supra, but even if you don't use the extra power it's going to cost you more when your insurance bill arrives.
- If you belong to a professional organization for your employment, you may qualify for a discount rate. And if you're a senior citizen, you may get a discount for your age as well.
- How is your credit rating? The better credit you have, the less insurance will cost for your Supra. If you have bad credit, work on improving your credit score and repair past credit problems.
- Let's face it, you aren't driving a Supra because of the fuel economy. You like the looks and performance and you'll pay a little more for insurance because you're driving a sports car.
- 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.
- Safety features such as passive restraints and air bag systems help reduce injuries in and accident, and car insurance companies will charge lower rates if these features are present.
- Comprehensive and collision coverages make up the majority of your car insurance bill. If you raise your deductibles, you can will see significant savings with every policy renewal.
- For some reason, car theives target particular makes and models more than others. If your Supra is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
- Filing too many claims with your company can end up either costing you more for insurance or having your policy cancelled. Insurance companies don't like paying any more than you do, but they have the option of whether to keep you as a policyholder or not.
- Bundling your auto and home insurance with the same company can often get you a discount, and just being a homeowner in itself will get you a lower rate.
- If you have a speeding ticket or other moving violation, you could be charged more for insurance. If you get a ticket, find out if your county or state offers a defensive driving course that will void the ticket upon completion.
- If your insurance company allows driver-specific car rating, you can save money by rating any teenage drivers on low profile vehicles with either no physical damage coverage or very high deductibles.
- Allowing your insurance to lapse for any length of time will increase the cost of a new policy. Always keep coverage in force.
Step Three: Buy the Policy That's Right for You
Now that you hopefully have several rates to compare and have made any changes needed to your individual coverages, you can choose the best company to insure your Supra with.
If you're cancelling an old policy, make sure the new coverage starts the same day your old policy ends. This avoids any penalty for having a lapse in coverage which can cost you more.
Coverage will extend from your current policy if you're buying a Toyota Supra, but if you don't have a policy, you will need to make sure you have coverage in place before you drive it off the dealership lot. If you have a current policy and you only carry liability coverage, then that's the only coverage that will automatically extend to your Supra. But if you currently carry full coverage, comprehensive and collision coverage will extend to your new vehicle.
Your insurance company will provide you with proof-of-insurance forms to keep in your vehicle. It's required by state law to carry at least the state minimum liability limits. If your state requires you to file an SR-22 for being a high-risk driver, make sure your new company is aware of this requirement. Failure to comply can result in loss of your driver's license.
More Insurance Buying Tips
The Insurance Information Institute has a great resource of car insurance articles where you can learn more about coverages and money saving tips. Visit iii.org.