Buying economical coverage for a Toyota Corolla is pretty simple for most people to do, but it is dependent upon many different factors such as age of the driver, if you have a tendency to file claims, and citations or violations on your driving record. Florida drivers will pay around $838 annually to insure their Corolla, but that cost is using a 50-year-old married male driver with both comprehensive and collision coverage and $1,000 deductibles.
There’s a good chance you are not 50 years old and maybe not even male, maybe you are single instead of married, or maybe you prefer liability limits higher than required by Florida state law. Auto insurance is unique to each driver, so the only real way to find cheap car insurance rates for your Toyota is to compare as many rates as possible.
The trim level of your Corolla has an effect on the yearly cost, so the price you will be charged to insure a Corolla LE will be $20 cheaper than the cost to insure the more expensive Corolla XRS version, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Table data does not factor in vehicle location which can revise coverage prices greatly.
Finding out which insurers offer the lowest-priced auto insurance rates for a Toyota Corolla will take more time in order to find the most economical policy. Every insurance company used slightly different criteria for setting prices, so we’ll take a look at the auto insurance companies that tend to have lower prices in Florida.
It’s important that readers know that Florida auto insurance rates are calculated based on many things that can increase the cost of coverage. Simply turning a year older, having a claim, or getting a driving violation can trigger rate changes resulting in some rates now being affordable when they were higher priced.
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|Rank||Company||Cost Per Year|
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USAA normally has some of the best car insurance rates in Orlando at around $986 annually. Electric, Amica, Progressive, and Travelers also make the cut as some of the lowest-priced Orlando, FL insurance companies.
As depicted above, if you currently buy coverage from Amica and switched to USAA, you might realize an annual premium reduction of in the neighborhood of $760. Florida drivers with Progressive could save as much as $789 a year, and Travelers customers might lower prices by $940 a year.
Understand that those premiums are averages for all drivers and vehicles in Florida and and are not calculated with an exact zip code location for a Toyota Corolla. So the insurer that is most affordable for your situation may not even be in the top 21 companies in the list above. That helps illustrate why you need to get rate quotes from many companies using your own driver information and specific vehicle type.
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Insurance providers that offer quotes for a Toyota Corolla could also offer policy discounts that can reduce rates by as much as 35% or more if you qualify. Large auto insurance companies and some of the discounts are:
- Farmers Insurance may have discounts that include distant student, homeowner, pay in full, mature driver, youthful driver, switch companies, and teen driver.
- State Farm has savings for good driver, defensive driving training, multiple autos, Drive Safe & Save, driver’s education, good student, and safe vehicle.
- Liberty Mutual offers discounts for hybrid vehicle, newly retired, new vehicle discount, multi-car, safety features, and new graduate.
- MetLife policyholders can earn discounts including good driver, multi-policy, defensive driver, good student, accident-free, and claim-free.
- Progressive offers premium reductions for multi-policy, multi-vehicle, homeowner, continuous coverage, online quote discount, good student, and online signing.
The example below illustrates the comparison of insurance premiums with and without some available policy discounts. The prices are based on a female driver, a clean driving record, no claims, Florida state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with defensive driving course, anti-theft, marriage, accident-free, multiple vehicle, and claim-free discounts applied. When discounts are factored in, theaverage yearly reduction on auto insurance for a Toyota Corolla is 28% or $730.
The information below illustrates how choosing a deductible can impact insurance prices when trying to find cheap insurance for a Toyota Corolla. The costs are based on a single female driver, full physical damage coverage, and no discounts are applied.
The data above shows that a 30-year-old driver could reduce rates by $512 a year by changing from a $100 deductible up to a $500 deductible, or save $770 by changing to a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could save as much as $1,148 each year by using a higher deductible. When choosing a higher deductible, it is a good idea to have enough savings set aside to enable you to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Price comparison of only insuring for liability
Buying cheaper auto insurance is the goal of the majority of people, and one common way to reduce the cost of insurance for a Toyota Corolla is to not insure for full coverage. The information below compares auto insurance rates with full coverage and liability only. The prices are based on no accidents or driving violations, $250 deductibles, drivers are not married, and no additional discounts are factored in.
Averaged out for all age groups, full coverage on your policy costs $2,771 per year more than insuring for liability only. At some point, every insured wonders if full coverage is worth the money. There is no clear-cut formula to drop physical damage insurance, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.
There are a few situations where buying only liability insurance is not a good plan. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage.
If you wish to have the advice of a professional agent when trying to find the best insurance rates for a Toyota Corolla, the agencies below are a good start to provide answers to your questions and help you determine which policy is best.
To locate an Orlando car insurance agency nearest to you, click the link at the bottom or click here to compare rates now.
- Terri Marshall – State Farm Insurance Agent
5555 E Michigan St #104 – Orlando, FL 32822 – (407) 380-5689
- Collins Insurance Agency, Inc.
522 E Colonial Dr – Orlando, FL 32803 – (407) 423-8345
- Allstate Insurance: Domingo Bravo
9330 Narcoossee Rd – Orlando, FL 32827 – (407) 281-6300
- worldwide insurance agency
4697 Rose Coral Dr #7 – Orlando, FL 32808 – (407) 616-7894
- GEICO Insurance Agent
5005 E Colonial Dr – Orlando, FL 32803 – (407) 897-7157