Are you a victim of an underperforming, overpriced auto insurance policy? Trust us, many Phoenix consumers are in the same pinch.
Inconceivable but true, a large majority of auto insurance policyholders in Arizona kept their policy with the same company for more than four years, and just short of a majority have never compared rates to find cheaper insurance. With the average premium in the United States being $1,847, drivers could cut their rates by up to $850 a year, but they don't invest the time required to compare rate quotes online.
Companies like Allstate and Progressive all claim big savings with ads and consumers find it hard to avoid their marketing magic and find the best price available.
Companies offering Toyota Corolla insurance in Arizona
The companies shown below can provide price quotes in Phoenix, AZ. If several companies are displayed, we recommend you get rate quotes from several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Arizona minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Price information does not factor in specific zip code location which can decrease or increase price quotes substantially.
Difference between liability only and full coverage rates
The chart below shows the difference between Toyota Corolla yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Arizona. The prices are based on no driving violations, no at-fault accidents, $1,000 deductibles, married female driver, and no discounts are taken into consideration.
Are you wasting money paying for full coverage?
There is no definitive formula of when to eliminate full coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then you might consider buying liability only.
For example, let's pretend your Toyota Corolla settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after paying your policy deductible. If you are paying more than $300 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some conditions where dropping physical damage coverage is not a good idea. If you still owe a portion of the original loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not remove full coverage.
Irresponsible driving raises your rates
The information below highlights how traffic violations and at-fault accidents can drive up Toyota Corolla insurance prices for different ages of insureds. Data assumes a single female driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
Lower-cost Toyota Corolla insurance quotes in Phoenix
Companies don't always advertise all their discounts very clearly, so here is a list both well-publicized in addition to some of the lesser obvious discounts you could be receiving when you buy Phoenix car insurance online. If you do not double check each discount you qualify for, you're paying more than you need to.
- Own a Home - Just owning your own home can get you a discount since owning and maintaining a home demonstrates responsibility.
- Professional Memberships - Joining a professional or civic organization is a good way to get lower rates on your next auto insurance statement.
- Sign Online - Many companies will give a small break shop Phoenix car insurance on your computer.
- Include Life Insurance and Save - Not every insurance company offers life insurance, but if they do you may earn a break if you buy a life insurance policy as well.
- Distant Student Discount - Youth drivers who are attending college and do not have a car may qualify for this discount.
- Bundle and Save - If you have multiple policies with one insurance company you could get a discount of approximately 10% to 15%.
- Accident Forgiveness Coverage - Not really a discount, but companies like Progressive, Allstate, and GEICO will let one accident slide without getting socked with a rate hike so long as you haven't had any claims for a particular time prior to the accident.
- Student Discount for Driver Training - Cut your cost by having your teen driver successfully take a driver's education course in school or through a local driver safety program.
One last thing about discounts, many deductions do not apply to the entire cost. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. Even though it may seem like it's possible to get free car insurance, you aren't that lucky.
Large auto insurance companies and a partial list of their discounts are detailed below.
- Progressive includes discounts for multi-vehicle, homeowner, continuous coverage, multi-policy, good student, online quote discount, and online signing.
- SAFECO may include discounts for teen safe driver, accident prevention training, teen safety rewards, drive less, homeowner, multi-car, and anti-lock brakes.
- American Family offers premium reductions for defensive driver, bundled insurance, mySafetyValet, good driver, good student, and multi-vehicle.
- MetLife may have discounts that include defensive driver, accident-free, good student, good driver, multi-policy, claim-free
- GEICO may offer discounts for good student, anti-theft, multi-vehicle, daytime running lights, anti-lock brakes, and membership and employees.
- The Hartford discounts include good student, defensive driver, vehicle fuel type, anti-theft, driver training, and bundle.
It's a good idea to ask every company how you can save money. A few discounts may not apply to policyholders everywhere.
What if I want to buy from local Phoenix insurance agents?
Many people prefer to get professional advice from a licensed agent and that is a personal choice. The best thing about price shopping on the web is that you can find better rates and also buy local. Buying insurance from neighborhood agents is important particularly in Phoenix.
After completing this quick form, your insurance coverage information is submitted to local insurance agents in Phoenix who will return price quotes for your business. It simplifies rate comparisons since you won't have to even leave your home due to the fact that quote results will go immediately to your email address. You can get cheaper insurance rates and a licensed agent to work with. In the event you want to compare rates for a specific company, don't hesitate to find their quoting web page to submit a rate quote request.
The following are Phoenix insurance companies that are able to give rate quotes for Toyota Corolla insurance in Phoenix.
Finding a good provider needs to be determined by more than just a cheap price. You should also get answers to these questions.
- If independent agents, which companies do they recommend?
- What company holds the largest book of business for them?
- What is the financial rating for the quoted company?
- Can they provide you with a list of referrals?
- Do they have 24-hour customer assistance?
- Will the agent or a CSR service your policy?
Save 15 percent in 15 minutes? Is it for real?
Big name companies like Progressive, GEICO, Allstate and State Farm consistently run ads on television and other media. They all seem to make an identical promise that drivers will save a bundle if you change your coverage. Is it even possible that every company can offer you a better deal on Toyota Corolla insurance in Phoenix? It's all in the numbers.
Many companies are able to cherry pick for the type of driver that will generate a profit. One example of this type of insured might be over the age of 45, has a clean driving record, and the vehicle is rated for pleasure use. A propective insured that hits that "sweet spot" gets the lowest car insurance rates and is almost guaranteed to save a lot on Phoenix Toyota Corolla insurance if they switch.
Insureds who do not match the "perfect" profile will probably have to pay more expensive rates which usually ends up with the driver buying from a lower-cost company. If you pay attention, the ads say "people that switch" not "everyone that quotes" can save as much as they claim. That's why companies can claim big savings.
This emphasizes why you need to do a rate comparison at every renewal. Because you never know which company will have the best prices for your profile.
Cheaper insurance rates are out there
As you prepare to switch companies, it's very important that you do not buy lower coverage limits just to save a few bucks. In many cases, drivers have reduced liability limits or collision coverage only to discover later they didn't have enough coverage. The goal is to find the BEST coverage at the lowest possible cost while still protecting your assets.
We just showed you a lot of ways to reduce Toyota Corolla insurance premium rates online in Phoenix. It's most important to understand that the more times you quote, the higher the chance of saving money. You may even be surprised to find that the lowest premium rates are with an unexpected company. They may often insure only within specific states and give better rates compared to the large companies like Progressive or GEICO.
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- Insurance Losses by Make and Model (iihs.org)
- Drunk Driving Statistics (Insurance Information Institute)