Finding economical coverage for a Toyota Tacoma in Arizona is dependent upon an enormous amount of rating factors such as the age of the Tacoma, the likelihood of vehicle theft, and if you have a history of accidents. Drivers pay around $682 each year for Tacoma insurance, but that amount is an estimation calculated using a 40-year-old married male driver with both comprehensive and collision coverage and $1,000 deductibles.
It’s more than likely you’re not a 40-year-old male, you might be single instead of married, or maybe you need higher liability limits than the state minimum. Car insurance coverage is unique to each driver, so this is why the best way to find cheap auto insurance rates for your Toyota is to compare as many rates as possible. It’s really quite easy you can get rates from some of the most affordable companies that insure vehicles in Arizona.
The trim level of your Toyota will most likely have an effect on the coverage cost, so the price you will pay to insure a Tacoma 2WD model will be $34 less than the cost to insure the high end Tacoma Double Cab TRD Sport Package 4WD trim level, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$130||$226||$308||$18||$92||$774||$65|
|Tacoma X-Runner 2WD||$130||$266||$308||$18||$92||$814||$68|
|Tacoma Double Cab 4WD||$148||$226||$308||$18||$92||$792||$66|
|Tacoma Double Cab TRD Off-Road Package 4WD||$148||$226||$308||$18||$92||$792||$66|
|Tacoma Double Cab TRD Sport Package 4WD||$148||$226||$308||$18||$92||$792||$66|
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Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Arizona minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Premium amounts do not factor in your specific Phoenix location which can impact auto insurance rates considerably.
Determining which companies offer the cheapest auto insurance rates for a Toyota Tacoma will involve a bit more effort than just picking a company at random. Every insurance company has their own guidelines to determine rates, so we’ll take a look at the auto insurance companies with the overall best prices in Phoenix.
Best Insurance Companies for Your Tacoma
|Rank||Company||Cost Per Year|
|11||Farm Bureau Mutual||$1,259|
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The Hartford may have some of the cheapest car insurance rates in Phoenix at around $836 per year. This is $592 less than the average policy premium paid by Arizona drivers of $1,428. Safeco, Auto-Owners, USAA, and Travelers also make the cut as some of the best Phoenix, AZ auto insurance companies.
In the above rates, if you have coverage with USAA and switched to The Hartford, you might realize a yearly price reduction of roughly $244. Customers with Travelers might save as much as $272 a year, and Progressive insureds might reduce rates by $316 a year.
To find the cheapest rates for your vehicle, click here or visit any of the low-priced companies below.
Bear in mind that those premium estimates are averaged across all drivers and vehicles in Arizona and are not factoring in a vehicle location for a Toyota Tacoma. So the company that can offer you the best rate may not even be in the list above. That emphasizes why you need to get quotes using your own specific driver information and vehicle.
Comparison of full coverage and liability-only policies
Paying a lower price for auto insurance is important to the majority of vehicle owners, and one of the easiest ways to buy cheaper insurance for a Toyota Tacoma is to only pay for liability coverage. The illustration below illustrates the comparison of insurance prices when comparing full coverage to liability only. The costs are based on no claims, a clean driving record, $1,000 deductibles, single status, and no other discounts are factored in.
If we average the cost for ages 20 through 70, full coverage costs an extra $1,514 per year more than just insuring for liability. Many drivers will wonder if you should buy full coverage at all. There is no exact formula for eliminating physical damage coverage, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
There are a few cases where buying only liability insurance is not financially feasible. If you still owe money on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.
Low rates today, overpriced tomorrow
Phoenix auto insurance rates are calculated based on many things that may substantially change the cost of coverage. Simply improving your credit, buying a home, or getting a DUI can trigger rate changes that may make certain companies more affordable than before. Not only that, but insurers change premium rates as often as every quarter in order to be able to pay unexpected claims. Significantly higher claims may result in more expensive premiums, while better underwriting can result in lower-priced Tacoma insurance rates.
For example, the graph below shows the companies that have the cheapest car insurance in Phoenix, AZ for a 40-year-old female driver with no accidents, a clean driving record, and great credit. If we look at prices based on her personal risk profile, The Hartford offers the best car insurance rates in Phoenix at $1,195 a year. This is $233 less than the average policy premium paid by Arizona drivers of $1,428. Auto-Owners, Safeco, USAA, and Travelers are also included in the cheapest Phoenix, AZ auto insurance companies.
Now let’s give the driver from the above example an at-fault accident, less-than-perfect credit, and a speeding ticket. Since each auto insurer uses their own method for establishing rates, analyzing rates may now result in a slightly different list of the cheapest car insurance companies in Phoenix as shown below.
GEICO now has the cheapest auto insurance in Phoenix, AZ with Ameriprise Group, Allied, CSAA, and Farm Bureau Mutual now being in the top five. This example proves why Phoenix drivers need to compare as many rates as possible to get cheap auto insurance rates for a Toyota Tacoma.
Car insurance prices consist of many things and change frequently, so the best company the last time you compared rates may now not even be in the top five.
How to find the cheapest insurance for a Toyota Tacoma
Lowering your rates is not difficult, and here are a few money-saving solutions that can help Phoenix drivers locate lower-cost coverage.
- Do not waste money insuring older vehicles for full coverage
- Maintain a clean driving record
- Accident-free drivers may qualify for discounts
- Too many claims can make car insurance unaffordable
- Higher deductibles save money
- Compare prices frequently to find the best deal
The last idea is certainly necessary, as we discussed in this article. Auto insurance prices can be adjusted at any time, so don’t be tentative to change insurance companies if you find a cheaper price. Loyalty to a specific company is fine, but it’s not a great idea if that loyalty ends up costing hundreds every year. Take a couple minutes and compare rates and find cheaper auto insurance for a Toyota Tacoma in Phoenix.
The insurance agents in Phoenix listed below can probably answer your questions and help you decide which coverages and limits you need, as lots of drivers aren’t clear which coverage they need and would like to get some guidance when shopping for cheaper insurance for a Tacoma. It can be time-consuming to find the cheapest rates, so professional agents can provide peace of mind knowing you have adequate protection.
To find a Phoenix insurance agency close to you, click the button following the list.
- American Family Insurance – Luke Shafer
1717 E Bell Rd #7 – Phoenix, AZ 85022 – (602) 788-5359
- Oasis Insurance
317 N 19th Ave – Phoenix, AZ 85009 – (602) 233-5500
- Andy Carrillo – State Farm Insurance Agent
4713 E Southern Ave – Phoenix, AZ 85042 – (602) 426-8088
- LA Insurance Agency
7602 S Central Ave – Phoenix, AZ 85042 – (602) 276-0002