Trying to find better insurance prices for a Toyota Prius in Texas can normally be an all-consuming task, but you can learn our car insurance buying tips to make it easier. There are more efficient ways to shop for car insurance and you need to know the absolute fastest way to get price quotes for your Toyota and get the best price possible from both online companies and Laredo agents.
A study showed that nearly 70% of customers kept buying from the same company for a minimum of four years, and roughly 40% of drivers have never compared rates from other carriers. Drivers in the United States could save approximately $859 each year by just comparing rate quotes, but most tend to underestimate how much savings they would realize if they changed companies.
It’s a good idea to compare rates as often as possible because car insurance rates trend upward over time. Just because you had the best premium rates on Toyota Prius insurance in Laredo a few years ago other companies may now be cheaper. There is a lot of wrong information about Prius insurance on the web, but I’m going to show you some good information on how to slash your car insurance rates in Laredo.
Locating the most cost-effective auto insurance policy in Laredo is actually very simple if you learn how to start. If you have coverage now or are just looking to switch companies, take advantage of these tips to cut your premiums and still have adequate protection. Consumers just have to know the most efficient way to compare price quotes from many companies at once.
Educated Choices Result in Lower Insurance Prices
Lots of things are taken into consideration when you quote your car insurance policy. Some factors are common sense such as your driving record, but other factors are less apparent like your vehicle usage or your commute time. A large part of saving on insurance is knowing some of the things that help determine your insurance rates. If you know what positively or negatively impacts your premiums, this empowers consumers to make smart changes that could result in lower premium levels.
The items below are some of the major factors that factor into your rates.
Theft deterrents systems cut insurance rates – Buying a car that has a built-in theft deterrent system can earn a premium discount. Theft deterrent systems like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems help track and prevent car theft.
Safer cars means cheaper insurance – Safe vehicles tend to have lower insurance rates. Safer cars result in less severe injuries and any reduction in injury severity means your insurance company pays less and lower rates for you.
Don’t skimp on liability protection – Your insurance policy’s liability coverage will protect you when you are found to be at fault for damages from an accident. Liability provides you with a defense in court to defend your case. Liability insurance is pretty cheap compared to insuring for physical damage coverage, so do not cut corners here.
Stay claim-free and save money – Car insurance companies in Texas give discounts to people who are claim-free. If you file a lot of claims you can look forward to higher premiums or even policy non-renewal. Insurance coverage is designed for claims that you cannot pay yourself.
Rural vs Urban Areas – Having an address in less populated areas of the country may provide you with better prices when trying to find low car insurance rates. Drivers who live in large cities regularly have traffic congestion and longer commute times. Less people living in that area means less chance of accidents and lower theft and vandalism rates.
Insurance loss probability for a Toyota Prius – Companies use claims history to determine a rate that will be profitable for them. Models that statistically have higher prevalence or dollar amount of losses will have increased rates.
The next table shows the historical insurance loss data for Toyota Prius vehicles. For each policy coverage, the claim probability for all vehicles, as a total average, is equal to 100. Values that are 100 or less are indicative of better than average losses, while values over 100 point to more losses or an increased likelihood of larger losses.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Prius C Hybrid||113||100||87||120||121||113|
|Toyota Prius Hybrid||101||97||98||103||118||103|
|Toyota Prius Plug-in Hybrid||98||89||87||106||114||93|
|Toyota Prius V Hybrid||94||86||88||88||94||97|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance rate breakdown
The coverage information shown next outlines a range of insurance costs for Toyota Prius models. Learning more about how premiums are formulated can help drivers make informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Premium amounts do not factor in specific Laredo garaging location which can impact premiums substantially.
Liability only or full coverage
The example below shows the difference between Toyota Prius insurance prices when comparing full coverage to liability only. The rates are based on no accidents or driving violations, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.
When to stop buying physical damage coverage
There is no exact rule for excluding physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s assume your Toyota Prius replacement cost is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $2,000 after the policy deductible has been paid. If you are paying more than $200 annually for full coverage, then it might be time to buy liability only.
There are some scenarios where removing full coverage is not advised. If you have an outstanding loan 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 case of an accident, you should keep full coverage in place.
Car insurance discounts are available to cut your rates
Car insurance is neither fun to buy or cheap, but there could be significant discounts to cut the cost considerably. Some of these discounts will be visible at quote time, but once in a while a discount must be asked about before being credited.
- Low Mileage – Driving less could earn lower prices due to less chance of an accident.
- No Claim Discounts – Claim-free drivers can earn big discounts in comparison to bad drivers.
- No Charge for an Accident – Not really a discount, but certain companies will let one accident slide without the usual rate increase so long as you haven’t had any claims for a specific time period.
- Telematics Data – Laredo drivers who agree to allow driving data collection to track when and where they use their vehicle by using a telematics device such as Allstate’s Drivewise and State Farm’s In-Drive system may get a rate reduction if they have good driving habits.
- Auto/Home Discount – If you insure your home and vehicles with the same insurance company they may give you a discount of up to 20% and get you cheaper Prius insurance.
- Discounts for Good Drivers – Safe drivers may save up to 50% more compared to rates paid by drivers with frequent claims.
We need to note that many deductions do not apply to the overall cost of the policy. Most cut the price of certain insurance coverages like comprehensive or collision. So even though they make it sound like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.
The illustration below compares Toyota Prius premium costs with and without policy discounts. The costs are based on a male driver, no driving violations, no at-fault accidents, Texas state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, claim-free, safe-driver, marriage, and multi-car discounts applied.
Companies that may offer policyholders these benefits possibly include:
When comparing rates, check with each company what discounts are available to you. Some discounts might not be offered in every state. If you would like to choose from a list of companies that offer the discounts shown above in Laredo, click this link.
Best car insurance company in Texas
Finding the top auto insurance company can be difficult considering how many companies there are to choose from in Texas. The company rank data below may help you decide which car insurance providers you want to consider putting your business with.
Top 10 Laredo Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Frequent quotes can save
Low-cost Toyota Prius insurance in Laredo can be sourced both online and from local insurance agents, and you should be comparing both in order to have the best chance of saving money. Some companies do not offer online quoting and usually these regional insurance providers prefer to sell through independent agencies.
Drivers change insurance companies for a variety of reasons including questionable increases in premium, high rates after DUI convictions, delays in paying claims or even poor customer service. Whatever your reason, finding a new company is less work than it seems.
We just showed you many ideas to lower your Toyota Prius insurance auto insurance rates in Laredo. It’s most important to understand that the more rate comparisons you have, the higher the chance of saving money. Consumers could even find that the lowest auto insurance rates come from a small local company.
How to find cheaper rates for Toyota Prius insurance in Laredo
The most effective way to get budget Toyota Prius insurance in Laredo is to regularly compare quotes from insurers who sell insurance in Texas.
First, try to understand how companies set rates and the modifications you can make to drop your rates. Many rating factors that result in higher prices like careless driving and poor credit history can be amended by being financially responsible and driving safely.
Second, get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from a single company like GEICO or Allstate, while independent agencies can quote rates from multiple insurance companies.
Third, compare the new rate quotes to the premium of your current policy to see if a cheaper price is available. If you can save money, ensure there is no coverage lapse between policies.
One key aspect when comparing rates is to use similar coverage information on each quote and and to get rates from every company you can. Doing this enables a level playing field and many rates to choose from.
More detailed car insurance information is located in the articles below:
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Who Has Cheap Laredo Car Insurance for Unemployed Drivers? (FAQ)
- How Much is Auto Insurance for Low Credit Scores in Laredo? (FAQ)
- Who Has Cheap Laredo Auto Insurance for Real Estate Agents? (FAQ)
- Who Has Cheap Laredo Auto Insurance for High Mileage Drivers? (FAQ)
- Who Has the Cheapest Laredo Car Insurance Rates for a 20 Year Old Male? (FAQ)
- Who Has Cheap Laredo Auto Insurance for a 20 Year Old Female? (FAQ)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- Car Insurance FAQ (Trusted Choice)