2001 Toyota Prius Car Insurance Cost – 7 Discounts for Cheaper Prices

Nobody anticipates paying for car insurance, especially when they know they could find better rates elsewhere. Since you have so many different company options, it’s difficult to find the cheapest car insurance company.

It’s important to get comparison quotes before your next renewal due to the fact that insurance prices trend upward over time. Even if you got the best price on Prius coverage a few years ago other companies may now be cheaper. You’ll find a ton of advice on car insurance online, but you can learn some of the best ways to reduce your car insurance bill.

Choosing the best insurance company for you is not rocket science. If you are paying for car insurance now, you stand a good chance to be able to reduce your rates substantially using these methods. Drivers just need to learn the best way to compare prices over the internet.

Lower rate quotes by taking advantage of these seven discounts

Car insurance can be pricey, but you might already qualify for some discounts that many people don’t even know exist. Larger premium reductions will be automatically applied when you get a quote, but less common discounts must be specifically requested prior to receiving the credit.

• Pay Now and Pay Less – By making one initial payment as opposed to paying monthly you may have a lower total premium amount.
• Defensive Driver – Taking time to complete a course in safe driver is a good idea and can lower rates and easily pay for the cost of the class.
• First Accident Forgiveness – Not really a discount, but companies like Allstate, Progressive, and Geico may permit one accident without raising rates with the catch being you have to be claim-free prior to being involved in the accident.
• Low Mileage Discounts – Low mileage vehicles could be rewarded with substantially lower rates.
• College Student – Older children who live away from home to go to college and do not have a car can receive lower rates.
• Homeowners Pay Less – Simply owning a home can get you a discount because it is proof of financial responsibility.
• Discount for New Cars – Putting car insurance coverage on a new car is cheaper because newer models are generally safer.

A little disclaimer on discounts, most discounts do not apply to the entire policy premium. Some only apply to individual premiums such as comp or med pay. So when the math indicates adding up those discounts means a free policy, nobody gets a free ride.

The best car insurance companies and some of the discounts can be found below.

• Farm Bureau offers discounts including good student, safe driver, renewal discount, 55 and retired, multi-vehicle, and multi-policy.
• Liberty Mutual policyholders can earn discounts including good student, teen driver discount, multi-car, new graduate, and newly married.
• State Farm has discounts for defensive driving training, multiple autos, multiple policy, driver’s education, safe vehicle, and passive restraint.
• Auto-Owners Insurance may have discounts that include good student, paid in full, group or association, company car, air bags, and multiple vehicles.
• Geico offers premium reductions for good student, multi-policy, membership and employees, driver training, seat belt use, and anti-theft.
• SAFECO includes discounts for teen safe driver, multi-car, anti-lock brakes, anti-theft, accident prevention training, and bundle discounts.

Check with each company or agent to apply every possible discount. A few discounts may not apply to policyholders in your area.

How much car insurance do I need?

When it comes to buying the best car insurance coverage for your personal vehicles, there is no single plan that fits everyone. Every insured’s situation is different and a cookie cutter policy won’t apply. For example, these questions can aid in determining if your situation could use an agent’s help.

• Are there companies who specialize in insuring high-risk drivers?
• Is my cargo covered for damage or theft?
• Should I put collision coverage on all my vehicles?
• What is the difference between comprehensive and collision coverage?
• Am I covered if I crash into my own garage door?
• Does my insurance cover my expensive audio equipment?

If you don’t know the answers to these questions, you might consider talking to an agent. To find lower rates from a local agent, complete this form or click here for a list of car insurance companies in your area. It’s fast, free and can provide invaluable advice.

Car insurance specifics

Having a good grasp of a car insurance policy aids in choosing appropriate coverage for your vehicles. Policy terminology can be ambiguous and nobody wants to actually read their policy. Listed below are the usual coverages available from car insurance companies.

Liability coverages – This provides protection from damage or injury you incur to people or other property in an accident. This insurance protects YOU against claims from other people, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 25/50/25 which stand for a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.

Liability coverage protects against things like attorney fees, medical expenses, bail bonds and structural damage. The amount of liability coverage you purchase is up to you, but consider buying as high a limit as you can afford.

Comprehensive protection – Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as a tree branch falling on your vehicle, falling objects, vandalism and damage from a tornado or hurricane. The maximum payout your car insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Uninsured or underinsured coverage – This gives you protection when the “other guys” either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your 2001 Toyota Prius.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Collision coverages – This coverage pays for damage to your Prius resulting from colliding with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things like hitting a parking meter, colliding with another moving vehicle and sideswiping another vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to save money on collision insurance.

Medical expense coverage – Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for things like doctor visits, chiropractic care, EMT expenses and dental work. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants as well as if you are hit as a while walking down the street. PIP is only offered in select states and may carry a deductible

Affordable insurance is out there

In this article, we covered some good ideas how you can lower your 2001 Toyota Prius insurance rates. The key thing to remember is the more times you quote, the better chance you’ll have of finding inexpensive car insurance. Drivers may discover the lowest rates come from a small local company. Some small companies may often insure only within specific states and give getter rates as compared to the big name companies such as Allstate and Progressive.

As you prepare to switch companies, don’t be tempted to buy lower coverage limits just to save a few bucks. There have been many situations where an insured cut liability coverage limits only to discover later that the savings was not a smart move. The goal is to get the best coverage possible for the lowest cost while not skimping on critical coverages.

Even more information can be read at these sites:

• Think You’re a Safe Driver? (State Farm)
• What is a Telematics Device? (Allstate)
• Determing Auto Insurance Rates (Geico)
• A Tree Fell on Your Car: Now What? (Allstate)