Have you had enough of not being able to afford to pay car insurance each month? You're in the same situation as many other California drivers.
It's well known that auto insurance companies don't want you to look for a cheaper policy. Drivers who shop around for cheaper prices will presumably buy a new policy because they have a good chance of finding better rates. A recent survey found that drivers who regularly shopped around saved as much as $865 a year as compared to drivers who never shopped for cheaper rates.
If finding the cheapest rates on Toyota Camry insurance is why you're reading this, then having a good understanding how to get price quotes and compare coverages can save money and time. People have multiple insurers to purchase coverage from, and although it's a good thing to be able to choose, too many choices makes it more difficult to locate the cheapest rates for Toyota Camry insurance in Los Angeles.
It's smart to check car insurance prices at least once a year because car insurance prices trend upward over time. Even if you got the lowest quotes on Toyota Camry insurance in Los Angeles on your last policy there is a good chance you can find better rates now. Forget anything you know (or think you know) about car insurance because I'm going to let you in on the secrets to the fastest way to find great coverage at a great price.
Our goal is to instruct you on how car insurance companies work and how you can save the most money. If you have insurance now, you stand a good chance to be able to get lower rates using the ideas presented in this article. Drivers just need to understand the proper methods to shop from many companies at once.
Get Cheap Insurance Costs by Understanding These Factors
Many things are part of the equation when you get a price on insurance. Some factors are common sense like a motor vehicle report, although others are more obscure such as your credit history or your vehicle rating.
Listed below are some of the major factors used by insurance companies to determine your prices.
- Save money by having good credit - Having a good credit rating can be an important factor in determining what you pay. If your credit rating can use some improvement, you could potentially save money when insuring your Toyota Camry if you improve your credit rating. People with high credit scores tend to be more responsible and file fewer claims than those with poor credit scores.
- What are your coverage deductibles? - Deductibles for physical damage are how much you are required to pay if the claim is covered. Insurance for physical damage, aka comp and collision, covers damage that occurs to your car. Some instances where coverage would apply could be colliding with a stationary object, collision with a deer, and having a roll-over accident. The more damage repair cost you are required to pay out-of-pocket, the better rate you will receive.
- Reserve policy claims for larger damages - Car insurance companies in California award discounts to people who are not frequent claim filers. If you're an insured who likes to file claims you can expect higher premiums or even policy non-renewal. Your insurance policy is designed for claims that you cannot pay yourself.
- See if your company offers a multi-policy discount - Lots of companies apply discounts for people who have multiple policies with them such as combining an auto and homeowners policy. This can amount to ten or even fifteen percent. Even with this discount, it's still a good idea to comparison shop to help ensure you have the lowest rates.
- Do thieves like your car? - Owning a car that has a built-in theft deterrent system can help lower your rates. Anti-theft devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar help track and prevent auto theft and help lower rates.
Toyota Camry insurance loss data - Insurance companies take into consideration insurance loss statistics for every vehicle to help calculate premium rates. Models that the statistics show to have a higher amount or frequency of claims will cost more to insure.
The table below shows the actual insurance loss data for Toyota Camry vehicles. For each policy coverage, the statistical loss for all vehicles averaged together equals 100. Numbers shown that are under 100 imply a favorable loss record, while values that are 100 or greater point to more claims or a tendency for claims to be larger.
Toyota Camry Insurance Loss Statistics Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Camry 110 94 102 148 145 107 Toyota Camry Hybrid 124 100 110 118 127 96BETTERAVERAGEWORSE
Statistics from IIHS.org for 2013-2015 Model Years
The easiest way to compare car insurance rates for Toyota Camry insurance in Los Angeles is to realize car insurance companies will pay a fee to quote your coverage. The only thing you need to do is give the companies some data such as daily mileage, your general credit rating, types of safety features, and what your job is. That rating information is sent automatically to all major companies and they provide comparison quotes immediately.
To get price quotes for your Toyota Camry now, click here and find out if lower rates are available in Los Angeles.
The car insurance companies shown below are our best choices to provide free quotes in California. If multiple companies are shown, we recommend you click on several of them in order to find the lowest rates.
Analysis of Toyota Camry rates
The rate information displayed next outlines a range of prices for Toyota Camry models. Understanding how insurance quotes are determined can benefit drivers when making smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Customized Quote Go|
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Estimates do not factor in vehicle garaging location which can impact price quotes substantially.
The information below shows how different deductible levels and can impact Toyota Camry annual premium costs for each different age group. The rates are based on a married female driver, comprehensive and collision coverage, and no policy discounts are applied.
Tickets and at-fault accidents raise rates
The chart below shows how violations and accidents can affect Toyota Camry insurance prices for different categories of driver ages. The costs are based on a single male driver, full coverage, $250 deductibles, and no other discounts are factored in.
Comparison of full coverage and liability-only policies
The chart below shows the difference between Toyota Camry insurance costs when comparing full coverage to liability only. The data assumes no claims or driving violations, $250 deductibles, drivers are single, and no other discounts are factored in.
Should you be buying full coverage?
There is no definitive rule to exclude physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let's pretend your Toyota Camry replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $8,000 after paying your policy deductible. If you are paying over $800 annually for full coverage, then it may be the right time to buy liability only.
There are some scenarios where dropping full coverage is not in your best interest. If you haven't satisfied your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.
Why you need auto insurance
Even though it's not necessarily cheap to insure a Toyota in Los Angeles, insurance is most likely required but also gives you several important benefits.
- The majority of states have minimum mandated liability insurance limits which means state laws require a minimum amount of liability coverage in order to get the vehicle licensed. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If your Camry has a loan, almost all lenders will force you to have insurance to guarantee payment of the loan. If you do not pay your insurance premiums, the bank may buy a policy for your Toyota at a more expensive rate and require you to fork over the higher premium.
- Insurance protects both your assets and your car. It will also reimburse you for medical transport and hospital expenses that are the result of an accident. Liability coverage also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance greatly outweigh the cost, particularly for liability claims. According to a recent study, the average American driver overpays as much as $800 each year so compare rate quotes every year to save money.
Get lower-cost Toyota Camry insurance in Los Angeles with discounts
Insurance is expensive, but there may be some discounts that may help make it more affordable. Certain discounts will be applied when you purchase, but lesser-known reductions have to be asked for before you get the savings.
- Switch and Save Discount - A few companies give discounts for buying a policy prior to the expiration date on your current Camry insurance policy. You can save around 10% with this discount.
- Driver's Education for Students - Reduce the cost of insurance for teen drivers by having them take driver's ed class as it can save substantially.
- Payment Discounts - By making one initial payment rather than paying monthly you can avoid monthly service charges.
- Multi-car Discount - Having primary and secondary vehicles on one policy qualifies for this discount.
- Policy Bundle Discount - When you combine your auto and homeowners insurance with the same insurance company you may save over 10 percent off each policy depending on the company.
- Discount for Life Insurance - Some insurance carriers give lower insurance rates if you buy some life insurance in addition to your auto policy.
- Good Student - Excelling in school can save 20 to 25%. Many companies even apply the discount to college students until age 25.
- Theft Deterrent Discount - Vehicles that have factory alarm systems and tracking devices are stolen less frequently and can earn a small discount on your policy.
- Claim-Free Discount - Los Angeles drivers who stay claim-free can earn big discounts when compared to accident-prone drivers.
You can save money using discounts, but some of the credits will not apply to the whole policy. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Even though it appears adding up those discounts means a free policy, it just doesn't work that way. But all discounts will positively reduce the cost of coverage.
The information below shows the difference between Toyota Camry annual premium costs with and without discounts applied to the rates. The data assumes a female driver, no claims or driving citations, California state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, marriage, safe-driver, multi-policy, and claim-free discounts applied.
Popular insurance companies and some of the premium reductions they offer include:
- State Farm may offer discounts for multiple autos, Drive Safe & Save, accident-free, passive restraint, good driver, and multiple policy.
- GEICO may have discounts that include multi-policy, seat belt use, defensive driver, good student, and anti-theft.
- Progressive offers premium reductions for homeowner, good student, multi-vehicle, online quote discount, multi-policy, continuous coverage, and online signing.
- 21st Century has discounts for driver training, early bird, 55 and older, anti-lock brakes, teen driver, and air bags.
- American Family policyholders can earn discounts including accident-free, Steer into Savings, good driver, mySafetyValet, and multi-vehicle.
- The Hartford may include discounts for driver training, anti-theft, bundle, vehicle fuel type, air bag, and good student.
- AAA includes discounts for pay-in-full, good driver, multi-policy, AAA membership discount, and good student.
When comparing rates, check with every insurance company how you can save money. Some discounts might not apply in Los Angeles.
You may want advice from a local insurance agent
Some consumers still prefer to talk to an insurance agent and there is nothing wrong with that. Good agents are trained risk managers and will help you if you have claims. A good thing about comparing rates online is you may find the lowest rates and still have a local agent. Buying insurance from small agencies is important particularly in Los Angeles.
To make it easy to find an agent, after completing this quick form, the quote information is sent to local insurance agents in Los Angeles who will give competitive quotes to get your business. You won't need to leave your house since rate quotes are delivered to you directly. If for some reason you want to compare prices from a specific insurance company, you can always search and find their rate quote page and submit a quote form there.
Below is a list of auto insurance companies in Los Angeles willing to provide rate quotes for Toyota Camry insurance in Los Angeles.
Choosing an provider needs to be determined by more than just the price. These are some questions your agent should answer.
- Do they assist clients in filing claims?
- Do they write coverage based solely on cost?
- How many years of experience in personal auto insurance do they have?
- Is assistance available after office hours?
- Are they able to influence company decisions when a claim is filed?
- Is the agent and/or agency licensed to do business in California?
- Will high miles depreciate repair valuations?
- What are their preferred companies if they are an independent agency?
Will just any policy work for me?
When choosing proper insurance coverage, there really is not a "perfect" insurance plan. Everyone's needs are different so your insurance needs to address that. Here are some questions about coverages that can help discover whether you may require specific advice.
- Which is better, split liability limits or combined limits?
- Is there coverage for my trailer?
- I have health insurance so do I need medical payments coverage?
- Should I buy only the required California minimum liability coverage?
- What is the premium to book value ratio for dropping full coverage?
- Can I use my car for my catering business?
- If I use my vehicle for business use is it covered?
- When should I buy a commercial auto policy?
If you're not sure about those questions, you might consider talking to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It is quick, free and you can get the answers you need.
Do the work, save more money
We've covered many ideas to lower your Toyota Camry insurance rates in Los Angeles. The key concept to understand is the more price quotes you have, the higher the chance of saving money. Drivers may even discover the best price on auto insurance is with some of the lesser-known companies. Some small companies may only write in your state and offer lower car insurance rates as compared to the big name companies such as Allstate, GEICO and Progressive.
When getting Los Angeles auto insurance quotes online, make sure you don't buy lower coverage limits just to save a few bucks. There have been many situations where an accident victim reduced liability limits or collision coverage only to regret that the savings was not a smart move. Your objective should be to find the BEST coverage at the best cost.
More tips and info about auto insurance can be found by following these links:
- Keeping Children Safe in Crashes Video (iihs.org)
- Who Has the Cheapest Los Angeles Auto Insurance for 4x4 Vehicles? (FAQ)
- How Much is Los Angeles Car Insurance for a Nissan Sentra? (FAQ)
- Who Has Affordable Los Angeles Car Insurance Rates for Homeowners? (FAQ)
- How Much is Auto Insurance for a Hyundai Elantra in Los Angeles? (FAQ)
- What Auto Insurance is Cheapest for Safe Drivers in Los Angeles? (FAQ)
- How Much is Auto Insurance for Teenage Males in Los Angeles? (FAQ)
- Electronic Stability Control FAQ (iihs.org)
- Credit Impacts Car Insurance Rates (State Farm)
- Driving in Bad Weather (Insurance Information Institute)