Buying economical coverage for a Toyota Corolla is pretty simple, but it is dependent upon a pretty complex algorithm that uses a lot of factors such as how you use your vehicle, where your vehicle is garaged, and your driving record. Arizona drivers will pay on average $588 annually for Corolla insurance, but that amount is a valuation calculated using a 50-year-old married female driver with full physical damage coverage and $1,000 deductibles.
Odds are that you are not 50 years old and maybe not even female, maybe you are single instead of married, or maybe you need higher liability limits than the state minimum. This illustrates why the way we recommend to find the most affordable coverage for your Toyota is to do a thorough rate comparison.
The trim level of your Corolla can impact the annual cost of coverage, so the price you will be charged to insure a Corolla LE model will be $14 cheaper than the price to insure the higher-end Corolla XRS trim level, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Arizona minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Premium amounts do not factor in the specific area where the vehicle is garaged which can lower or raise rates substantially.
Finding good, reasonably-priced insurance is challenging, and figuring out which insurers offer the cheapest insurance rates for a Toyota Corolla will take additional perseverance. Each insurance company has a different process for determining prices, so we’ll go over the insurance companies with the most affordable rates in Phoenix, AZ.
Find the Cheapest Auto Insurance for Your Corolla
|Rank||Company||Cost Per Year|
|11||Farm Bureau Mutual||$1,285|
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The Hartford may have some of the cheapest car insurance rates in Phoenix at around $845 a year. This is $583 less than the average price paid by Arizona drivers of $1,428. Auto-Owners, Safeco, USAA, and Travelers also rank well as some of the cheapest Phoenix, AZ car insurance companies.
In this example, if you currently have coverage with USAA and switched to The Hartford, you may realize yearly savings of in the vicinity of $246. Arizona drivers with Travelers could save as much as $263 a year, and GEICO insureds might lower prices by $297 a year.
If you would like to find cheaper car insurance rates, click here to begin a quote or click several companies below for low rates.
Understand that those premium estimates are averaged across all drivers and vehicles in Arizona and and are not figured with a specific vehicle garaging location for a Toyota Corolla. So the company that has the cheapest rates for you may not even be in the list above. That helps illustrate why you need to compare rates from multiple companies using your own driver information and specific vehicle type.
Driving violations and accidents
A great way to find low insurance premiums in Phoenix for a Corolla is to be a safe driver and have a clean driving record. The example below illustrates how speeding tickets and at-fault collisions can impact insurance costs for each different age category. The premiums assume a single male driver, full physical damage coverage, $100 deductibles, and no discounts are applied.
In the previous example, the average cost of a car insurance policy per year with no violations or accidents is $2,196. Receive one speeding ticket and the average cost jumps to $2,471, an increase of $275 each year. Then add in two accidents along with the one speeding ticket and the yearly cost of insurance for a Toyota Corolla goes up to an average of $4,755. That’s an increase of $2,559, or $213 per month, just for not keeping your driving record clean!
Comparing rates on Corolla insurance can save you money
Phoenix, AZ insurance rates are determined by lots of factors which can substantially decrease or increase the cost of having a policy. Simply having another birthday, increasing liability limits, or getting a speeding ticket can trigger changes in premium resulting in some companies being cheaper in comparison to the competition. Additionally, companies modify pricing every year or even multiple times each year to adjust for unexpected claims or profits. A period of higher than normal claims can result in a rate increase, while a profitable period may produce lower-cost Corolla insurance rates.
For example, the data below shows which companies have the cheapest car insurance in Phoenix, AZ for a 40-year-old female driver with no accidents or violations, and good financial standing. Based on her current rating profile, The Hartford offers the cheapest car insurance rates in Phoenix at $1,231 each year. This is $197 less than the average price paid by Arizona drivers of $1,428. Auto-Owners, Safeco, Travelers, and USAA are also on the list of the cheapest Phoenix, AZ auto insurance companies.
In this example, we will give the driver from the first example a couple of claims, bad credit, and a few traffic violations. Since every car insurance company has a different process for establishing rates, analyzing rates may now present a completely different list of the cheapest car insurance companies in Phoenix as shown below.
GEICO now has the cheapest insurance rate in Phoenix, AZ with Ameriprise Group, CSAA, Safeco, and Allied now rounding out the top five. This illustrates why it is important to shop around when trying to get the cheapest auto insurance rates for a Toyota Corolla. Insurance prices consist of many things and can change without notice, so the cheapest option the last time you compared rates may now be quite expensive.
Tips for finding more affordable car insurance for a Toyota Corolla
The list below shows a few money-saving solutions that can help drivers buy low-cost coverage.
- Having too many claims will increase rates substantially
- Raise deductibles to save money
- Better credit scores save money
- Avoid having at-fault accidents
- Save money by bundling your home and auto policies
- You will pay more if you get tickets or have at-fault accidents
- Ensure you have the best deal by shopping around regularly
That final tip is incredibly vital, as was pointed out in the prior information. Auto insurance rates adjust frequently, so drivers shouldn’t hesitate to switch companies if you can save money.
Staying with the same car insurance company is fine, but is isn’t recommended if your bullheadedness ends up costing you a lot of money every month. It only takes a couple minutes to compare prices to find cheaper car insurance for a Toyota Corolla in Phoenix.
If you prefer to have the advice of a professional agent when comparing insurance rates for a Toyota Corolla, the professional agents shown below are willing to help you determine which coverages you need. To find an auto insurance agency close to where you live, click the link at the bottom.
Chris Bolton – State Farm Insurance Agent
1630 N 7th St – Phoenix, AZ 85006 – (602) 252-1330
Chuck Kelly – State Farm Insurance Agent
314 E Thomas Rd – Phoenix, AZ 85012 – (602) 277-5776
American Family Insurance – Jennifer Swenson
4731 N Central Ave – Phoenix, AZ 85012 – (602) 995-9334