Buying competitive insurance for a Toyota Camry doesn’t take too much effort, but it relies on a fairly complex equation with a lot of factors such as how many years you have been driving, the performance level of your vehicle, and any prior driving offenses. Arizona drivers pay around $676 per year to insure their Camry, but that price is an estimate calculated using a 30-year-old married female driver with full coverage and $1,000 deductibles.
More likely than not, you may not be 30 years old (or even female), you might be single instead of married, or maybe you have a speeding ticket that needs to be factored in. Just a slight change in policy rating criteria or coverages can result in a massive change in the policy cost.
Everyone has unique insurance needs, and this illustrates why the way we recommend to find cheap auto insurance rates for your Toyota is to do a thorough rate comparison. Do a quick rate comparison now and you will receive price comparisons from top-rated companies that offer coverage in Arizona.
Your Toyota’s trim level tends to have a direct effect on the coverage cost, so the cost to insure a Camry LE model will be $116 lower than the insurance cost for the more expensive Camry Hybrid model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Arizona minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Price information does not factor in your specific Phoenix location which can alter rates significantly.
Locating budget car insurance is tough enough, and deciding which insurers offer the cheapest auto insurance rates for a Toyota Camry will take a little more work. Each insurer uses different criteria for determining rates, so we’ll go over the overall cheapest auto insurance companies in Phoenix.
Best Cheap Insurance Rates for Your Camry
|Rank||Company||Cost Per Year|
|11||Farm Bureau Mutual||$1,247|
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The Hartford may have some of the cheapest car insurance rates in Phoenix at around $811 per year. This is $617 less than the average price paid by Arizona drivers of $1,428. Auto-Owners, Safeco, Travelers, and USAA also qualify as some of the lowest-priced Phoenix, AZ auto insurance companies.
In the above example, if you currently have a policy with Auto-Owners and switched to The Hartford, you could see an annual savings of in the neighborhood of $104. Insureds with Safeco may save as much as $112 a year, and Travelers customers might lower prices by $308 a year.
These rates are averaged across all drivers and vehicles and and are not calculated with an exact location for a Toyota Camry. So the company that can offer the best rates for your situation may not even be in the list above. That emphasizes why you need to quote rates from many companies using your own driver data and vehicle information.
Get discount Phoenix auto insurance rates
Insurers that provide coverage for a Toyota Camry could also offer price discounts that can reduce rates by 30% or more if you meet eligibility requirements. A list of companies and some of the premium reductions they offer can be read below.
- GEICO offers discounts for membership and employees, multi-policy, emergency military deployment, daytime running lights, and federal employee.
- Travelers may have discounts that include multi-policy, early quote, payment discounts, student away at school, and home ownership.
- Nationwide has discounts for defensive driving, multi-policy, Farm Bureau membership, business or organization, good student, anti-theft, and easy pay.
- Farmers Insurance policyholders can earn discounts including bundle discounts, switch companies, distant student, teen driver, alternative fuel, and multi-car.
- Esurance discounts include anti-theft, multi-car, emergency road assistance, multi-policy, paid-in-full, and online shopper.
- State Farm offers discounts including anti-theft, defensive driving training, good driver, multiple autos, and good student.
- Progressive has savings for online signing, continuous coverage, multi-policy, multi-vehicle, good student, online quote discount, and homeowner.
- Mercury Insurance offers premium reductions for accident-free, professional/association, good driver, annual mileage, anti-theft, multi-car, and low natural disaster claims.
The information below compares insurance costs with and without discounts applied to the rates. The premiums are based on a male driver, a clean driving record, no claims, Arizona state minimum liability limits, full coverage, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The second bar shows the rates with safe-driver, multiple vehicle, marriage, anti-theft, homeowner, and defensive driving course discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on auto insurance for a Toyota Camry is 28% or $518.
Full coverage versus liability only rates
Buying cheaper auto insurance should be important to the majority of vehicle owners, and an easy way to pay lower rates for insurance for a Toyota Camry is to not buy full coverage. The illustration below illustrates the difference between insurance costs with and without full coverage. The rates are based on no claims or violations, $100 deductibles, single marital status, and no discounts are applied to the premium.
If averaged for all ages, comp and collision coverage costs an additional $2,196 per year more than just insuring for liability. That raises the question if paying for full coverage is a waste of money. There is no specific rule of when to eliminate full coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than about 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
How to find the cheapest car insurance for a Toyota Camry
Below you’ll find a few thrifty ideas that can help drivers locate lower-cost auto insurance.
- Assess whether full coverage is needed
- Serious violations like DUI or reckless driving can increase rates dramatically
- Increase your policy deductibles
- Avoid filing excessive claims
- At-fault accidents can raise rates significantly
- Compare rates regularly to ensure the best deal
That final tip is remarkably necessary, as was pointed out in this write-up. Insurance rates in Phoenix change constantly, so drivers shouldn’t hesitate to switch companies if a cheaper rate is available.
Having brand loyalty is commendable, but it isn’t a good idea if that inflexibility results in costing you a small fortune year after year. It only takes a couple minutes to compare rates to find cheaper auto insurance for a Toyota Camry.
If you wish to have some advice when comparing insurance rates for a Camry, the agencies below can help you make a decision which coverages and limits you need.
To locate a Phoenix car insurance agency by location nearest to you, click the link after the list.
Chris Bolton – State Farm Insurance Agent
1630 N 7th St – Phoenix, AZ 85006 – (602) 252-1330
Jim Nork – State Farm Insurance Agent
1600 W Camelback Rd #1a – Phoenix, AZ 85015 – (602) 222-9400
American Family Insurance – Luke Shafer
1717 E Bell Rd #7 – Phoenix, AZ 85022 – (602) 788-5359