You have seen the catchy advertisements from auto insurance companies like Farmers and State Farm that say if you switch you’ll get the cheapest rates, so you should just pick the company with the best ad, right?
It’s not quite that easy, unfortunately, as there are a ton of unknown factors like whether you are male or female, if you own a home, and citations or tickets, that all have an effect on the price of a policy. This article should teach you a little about some of these criteria and will hopefully give you a jump start in finding the best auto insurance in Arizona.
Deciphering which companies have the cheapest auto insurance rates for hybrid vehicles involves more work in order to find the lowest price quote. Every insurance provider uses different criteria for setting prices, so let’s take a look at the most affordable auto insurance companies in Phoenix.
It’s important to understand that Arizona auto insurance rates are calculated based on many things which can substantially decrease or increase the price of your policy. Simply having a birthday, increasing deductibles, or having an at-fault accident can trigger price changes resulting in some companies being affordable when they were higher priced.
Best Auto Insurance Prices for Hybrids
|Rank||Company||Cost Per Year|
|11||Farm Bureau Mutual||$1,297|
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The Hartford has some of the cheapest car insurance rates in Phoenix at around $845 a year. This is $583 less than the average rate paid by Arizona drivers of $1,428. Auto-Owners, Safeco, USAA, and Travelers would also be considered some of the most economical Phoenix, AZ car insurance companies.
As depicted above, if you are currently insured with Safeco and switched to The Hartford, you could earn a yearly savings of upwards of $87. Customers with USAA could save as much as $268 a year, and Travelers policyholders might realize rate reductions of up to $274 a year.
To find the cheapest rates for your vehicle, click here to start your custom quote or feel free to get quotes from the companies below.
These policy prices are averages for all drivers and vehicles and are not factoring in an exact zip code location for hybrid vehicles. So the company that fits your situation best may not even be in the top 28 companies in the list above. That’s why you need to get car insurance quotes using your own specific driver and vehicle information.
The vehicle you are trying to insure is probably the most important factor when consumers are trying to find the cheapest coverage for hybrid vehicles. Vehicles with average performance, good crash test ratings, or a track record of few liability claims will cost much less to insure than fast, unsafe models.
The next table ranks auto insurance costs for some of the most affordable automobiles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$1,655|
|Ford Escape Limited 4WD||$1,756|
|Hyundai Elantra GLS Touring Station Wagon||$1,857|
|Honda Civic DX 4-Dr Sedan||$1,880|
|Ford Focus S 4-Dr Sedan||$1,885|
|Nissan Altima 2.5 4-Dr Sedan||$1,918|
|Ford Explorer Eddie Bauer AWD||$1,955|
|Chevrolet Malibu LT||$1,961|
|Toyota Corolla LE||$2,016|
|Chevrolet Impala LTZ||$2,026|
|Honda Odyssey EX-L||$2,016|
|Hyundai Sonata GLS 4-Dr Sedan||$2,054|
|Jeep Grand Cherokee Limited 2WD||$2,062|
|Chevrolet Silverado LT Extended Cab 2WD||$2,054|
|Chevrolet Equinox LTZ AWD||$2,064|
|Ford F-150 STX Super Cab 2WD||$2,178|
|Toyota RAV4 Limited 4WD||$2,198|
|Dodge Ram Crew Cab SLT 4WD||$2,227|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$2,238|
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arizona minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Prices do not factor in Phoenix, AZ location which can influence coverage prices considerably.
Looking at the data, we can assume that models like the Honda CR-V, Ford Escape, Toyota Prius, Hyundai Elantra, and Honda Civic will be some of the most affordable vehicles to insure for hybrids.
One of the more important criteria that help determine the cost of insurance is your address in Phoenix. Larger areas will most likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.
The next table sorts the priciest cities in Arizona for hybrid vehicles to buy car insurance in. Phoenix is ranked #1 with the annual price of $1,268 for the average policyholder, which is approximately $106 each month.
|Rank||City||Premium Per Year|
|3||San Tan Valley||$1,196|
|25||Lake Havasu City||$852|
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Rates are approximated as specific location information can lower or raise prices substantially.
Types of discounts on Phoenix insurance
Insurance providers that sell policies for hybrid vehicles may also provide discounts that may potentially lower prices by 30% or more if you qualify. Companies and the discounts they provide are shown below.
- GEICO offers discounts for anti-lock brakes, federal employee, daytime running lights, emergency military deployment, defensive driver, air bags, and multi-vehicle.
- Travelers offers discounts including continuous insurance, driver training, payment discounts, IntelliDrive, hybrid/electric vehicle, student away at school, and home ownership.
- Nationwide includes discounts for multi-policy, business or organization, accident-free, Farm Bureau membership, anti-theft, and easy pay.
- Farmers Insurance offers premium reductions for teen driver, early shopping, business and professional, alternative fuel, homeowner, bundle discounts, and electronic funds transfer.
- Esurance has savings for online quote, anti-lock brakes, DriveSense, good student, claim free, and Switch & Save.
- State Farm policyholders can earn discounts including driver’s education, anti-theft, good student, multiple autos, passive restraint, defensive driving training, and Drive Safe & Save.
- Progressive may offer discounts for homeowner, multi-policy, online signing, multi-vehicle, online quote discount, and continuous coverage.
- Mercury Insurance discounts include location of vehicle, type of vehicle, professional/association, multi-policy, ease of repair, and good driver.
The example below compares car insurance rates with and without discounts. The price estimates are based on a male driver, no claims or driving citations, Arizona state minimum liability limits, full coverage, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The second bar shows the rates with multiple vehicle, passive restraint, safe-driver, multiple policy, homeowner, and claim-free discounts applied. When taking advantage of discounts, the average amount saved each year on auto insurance for hybrid vehicles is 28% or $528.
Full coverage versus liability only rates
Saving money when shopping for auto insurance is the goal of the majority of drivers, and one of the best ways to pay less for insurance for hybrid vehicles is to not pay for full coverage. The example below visualizes the comparison of premium costs with full physical damage coverage and with liability coverage only. The data assumes no claims or driving citations, $1,000 deductibles, single status, and no discounts are applied to the premium.
On average, physical damage coverage on your policy costs an extra $1,681 per year more than carrying just liability coverage. That brings up the question if buying full coverage is a good investment. There is no set rule for phasing out physical damage insurance, but there is a general guideline. If the annual cost of having full coverage is more than about 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
There are some cases where dropping full coverage is not in your best interest. If you haven’t paid off your loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.
The example below demonstrates how deductibles can change insurance premiums when searching for cheap insurance for hybrid vehicles. The premium estimates are based on a single male driver, comp and collision included, and no additional discounts are factored in.
As shown above, a 40-year-old driver could cut expenses by $296 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $446 by using a $1,000 deductible. Youthful drivers, like the 20-year-old, could possibly save up to $972 each year by selecting a higher deductible. When raising deductibles, it is essential to have spare funds to satisfy the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
The auto insurance agents in Phoenix shown below can probably help you make a decision which coverages and limits you need, as lots of drivers aren’t clear which coverage they need and would like to have a little guidance when trying to find the best insurance rates for hybrids. It can be difficult to find the best rates on your own, and a licensed agent can add peace of mind knowing you have adequate protection in the event of a claim. To locate a Phoenix auto insurance agent using an interactive map, click the button following the list or click here to compare price quotes.
American Family Insurance – Jennifer Swenson
4731 N Central Ave – Phoenix, AZ 85012 – (602) 995-9334
Eric Hamilton – State Farm Insurance Agent
10265 W Camelback Rd #120 – Phoenix, AZ 85037 – (623) 848-3048
American Premier Insurance Agency
16815 S Desert Foothills Pkwy #140 – Phoenix, AZ 85048 – (480) 423-3444
Jacob Rosell – State Farm Insurance Agent
2218 N 24th St – Phoenix, AZ 85008 – (602) 267-8200