1993 Toyota MR2 Car Insurance Rates

Drivers have lots of choices when trying to find low-cost Toyota MR2 insurance. You can either waste hours contacting agents trying to get quotes or save time using the internet to compare rates. There are both good and bad ways to find auto insurance online and you need to know the quickest way to price shop coverage on a Toyota and locate the cheapest rates either online or from local insurance agents.

Finding affordable coverage is not that difficult. If you currently have a car insurance policy, you stand a good chance to be able to save some money using these methods. Drivers only need to know the best way to find the lowest price online.

Why your Toyota MR2 might be costing you more

An important part of buying insurance is that you know the factors that go into determining insurance rates. Knowing what controls the rates you pay empowers consumers to make smart changes that can help you get better insurance rates.

Listed below are some of the items used by your company to calculate your rates.

  • Extra coverages can waste money – There are many additional coverages that can waste your money if you aren’t careful. Insurance for rental car reimbursement, accident forgiveness and additional equipment coverage may be wasting your money. They may seem good when talking to your agent, but now you might not need them so eliminate the coverages to reduce your premium.
  • More miles equals more premium – The higher the mileage driven every year the more you’ll pay to insure your vehicle. The majority of insurers apply a rate based on how the vehicle is used. Vehicles used primarily for pleasure use get more affordable rates as compared to vehicles used primarily for driving to work. Double check that your insurance declarations sheet shows the correct usage for each vehicle. Incorrect usage on your MR2 can result in significantly higher rates.
  • Never let your coverage lapse – Allowing your coverage to lapse is a sure-fire way to bump up your insurance costs. And not only will insurance be more expensive, but not being able to provide proof of insurance will get you a hefty fine and possibly a revoked license.
  • Your age impacts your rates – Young drivers are known to be less responsible when behind the wheel so they pay higher insurance rates. Older insureds tend to be more responsible, tend to cause fewer accidents and are safer drivers.
  • How credit affects insurance rates – Having a bad credit history is a important factor in your rate calculation. If your credit rating is not that good, you could pay less to insure your 1993 Toyota MR2 by repairing your credit. People with high credit scores tend to be more responsible than those with lower credit scores.
  • Low deductibles can be expensive – Your deductibles represent how much money you are required to spend out-of-pocket before a claim is paid by your company. Coverage for physical damage, termed comprehensive and collision coverage on your policy, protects your car from damage. Some examples of claims that would be covered would be colliding with a building, vandalism, or theft. The higher the amount the insured has to pay upfront, the less your company will charge you for insurance for MR2 coverage.
  • Discounts for married couples – Having a wife or husband helps lower the price on your insurance policy. Having a spouse is viewed as being more responsible and it’s proven that being married results in fewer claims.
  • Your car’s features help determine rates – Owning a car with anti-theft technology or alarm system can get you a discount on your insurance. Anti-theft features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent your car from being stolen.

Automobile Insurance Quotes

Cutting your auto insurance rates is a fairly straight forward process. All that’s required is to invest a few minutes getting comparison quotes provided by online insurance companies. It is quite easy and can be accomplished in a couple of different ways.

One of the best ways to get quotes is to use a rate comparison form (click to open form in new window). This type of form saves time by eliminating separate quotation requests to each individual auto insurance company. A single form gets you price quotes direct from many companies.It’s the quickest way to get rates.

A more time consuming way to obtain and compare quotes online consists of going to the website of each company to complete their respective quote request forms. For examples sake, let’s assume you want to compare Farmers, 21st Century and Liberty Mutual. To get rate quotes you would need to go to every website and enter your policy data, which is why most consumers use the first method.

For a list of links to insurance companies in your area, click here.

The least recommended method to get comparison rates is driving to insurance agents’ offices. The ability to buy insurance online can eliminate the need for a local agent unless you have a need for the professional advice only provided by licensed agents. It is possible to comparison shop your insurance online but still have the advice of a local agent and you’ll learn how to do that later.

It’s your choice how you get your quotes, but make sure you use identical coverages and limits for every quote you compare. If you use different liability limits you will not be able to make an equal comparison.

Don’t overlook these discounts

Companies don’t necessarily list all available discounts in an easy-to-find place, so we took the time to find some of the more common and the harder-to-find insurance savings. If they aren’t giving you every credit available, you’re paying more than you need to.

  • Life Insurance – Some companies give a break if you buy a life insurance policy as well.
  • Defensive Driver – Taking part in a defensive driving course can save you 5% or more depending on where you live.
  • Anti-theft System – Vehicles equipped with anti-theft or alarm systems can help prevent theft and qualify for as much as a 10% discount.
  • Drive Less and Save – Driving fewer miles can qualify you for discounted rates on garaged vehicles.
  • Organization Discounts – Participating in certain professional organizations could qualify you for a break when buying insurance for MR2 coverage.
  • Discount for Good Grades – This discount can be rewarded with saving of up to 25%. The good student discount can last until age 25.
  • Anti-lock Brake System – Cars that have steering control and anti-lock brakes prevent accidents and qualify for as much as a 10% discount.
  • Seat Belts Save – Buckling up and requiring all passengers to buckle their seat belts could cut 10% or more off the personal injury premium cost.
  • New Car Discount – Adding a new car to your policy can be considerably cheaper because new vehicles have to meet stringent safety requirements.
  • One Accident Forgiven – Some insurance companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a set time period.

It’s important to understand that most discounts do not apply to the entire policy premium. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So even though it sounds like adding up those discounts means a free policy, you won’t be that lucky.

For a list of insurance companies with the best insurance discounts, follow this link.

Is my situation unique?

When it comes to choosing proper insurance coverage for your personal vehicles, there really is not a “perfect” insurance plan. Everyone’s situation is unique.

For example, these questions may help highlight whether or not you would benefit from an agent’s advice.

  • Do I have coverage for damage caused while driving under the influence?
  • Is my babysitter covered when using my vehicle?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Is a new car covered when I drive it off the dealer lot?
  • How high should deductibles be on a 1993 Toyota MR2?
  • Should I have combined single limit or split liability limits?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Why is insurance for a teen driver so high?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an agent. To find an agent in your area, complete this form. It is quick, free and may give you better protection.

Coverages available on your car insurance policy

Learning about specific coverages of a car insurance policy helps when choosing the best coverages at the best deductibles and correct limits. Policy terminology can be difficult to understand and coverage can change by endorsement.

Comprehensive coverages

This covers damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like hitting a deer, a tree branch falling on your vehicle and hail damage. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Coverage for medical payments

Coverage for medical payments and/or PIP reimburse you for immediate expenses for things like dental work, X-ray expenses, doctor visits and rehabilitation expenses. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible

Uninsured and underinsured coverage

This protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.

Liability

Liability insurance will cover damage that occurs to other’s property or people in an accident. It protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 50/100/50 which stand for a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.

Liability coverage protects against things like court costs, repair bills for other people’s vehicles and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Auto collision coverage

Collision coverage will pay to fix damage to your MR2 resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for claims such as sustaining damage from a pot hole, crashing into a ditch, colliding with a tree, damaging your car on a curb and scraping a guard rail. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to raise the deductible in order to get cheaper collision rates.

At the end of the day…

We just covered a lot of ways to get a better price on 1993 Toyota MR2 insurance. It’s most important to understand that the more rate quotes you have, the better your chances of lowering your rates. Consumers may even find the best prices are with an unexpected company.

Cheap insurance can be bought both online and with local insurance agents, so you should compare both in order to have the best chance of saving money. Some car insurance companies do not offer online price quotes and these regional insurance providers work with independent agents.

People who switch companies do it for many reasons like denial of a claim, poor customer service, policy non-renewal or even questionable increases in premium. Regardless of your reason for switching companies, choosing a new insurance company can be easy and end up saving you some money.

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