2001 Toyota MR2 Spyder Insurance Rates

Looking for the cheapest auto insurance rates for your Toyota MR2 Spyder? Finding lower premiums on auto insurance is nearly impossible for consumers not familiar with comparing rates online. Drivers have so many options that it can be a big hassle to find the best price.

It’s a good habit to shop coverage around yearly since rates are rarely the same from one policy term to another. Just because you had the best deal for MR2 Spyder coverage two years ago a different company probably has better rates today. Starting right now, forget all the misinformation about auto insurance because it’s time to teach you the proper way to lower your annual insurance bill.

Do you qualify for discounts?

Companies offering auto insurance don’t list all available discounts in an easy-to-find place, so the following is a list of both the well known and the more hidden discounts you could be receiving.

  • Seat Belts Save more than Lives – Requiring all passengers to buckle their seat belts can save 10% or more off the personal injury premium cost.
  • Homeowners Discount – Simply owning a home may earn you a small savings because maintaining a house shows financial diligence.
  • Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems help deter theft and will save you 10% or more.
  • Driver’s Ed – Cut your cost by having your teen driver enroll in driver’s education if offered at their school.
  • Braking Control Discount – Vehicles equipped with ABS or steering control prevent accidents and therefore earn up to a 10% discount.
  • Drive Safe and Save – Insureds without accidents can get discounts for up to 45% lower rates for MR2 Spyder coverage than their less cautious counterparts.
  • Service Members Pay Less – Having a deployed family member can result in better rates.
  • Good Students Pay Less – Getting good grades can be rewarded with saving of up to 25%. This discount can apply up to age 25.

It’s important to note that most discount credits are not given the the whole policy. Most only reduce the cost of specific coverages such as liability, collision or medical payments. So even though it sounds like all the discounts add up to a free policy, it doesn’t quite work that way.

To see a list of providers with the best insurance coverage discounts, click here to view.

Don’t assume everyone needs the same coverage

When it comes to choosing proper insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Your needs are not the same as everyone else’s.

These are some specific questions could help you determine if your situation might need professional guidance.

  • Does coverage extend to a rental car in a foreign country?
  • When should I buy a commercial auto policy?
  • How can I get high-risk coverage after a DUI?
  • When should I not file a claim?
  • Are my friends covered when driving my 2001 Toyota MR2 Spyder?
  • Am I covered when driving in Canada or Mexico?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Do I have coverage for damage caused while driving under the influence?
  • Should I sign the liability waiver when renting a car?

If you can’t answer these questions, you might consider talking to a licensed agent. To find lower rates from a local agent, fill out this quick form.

Can you really save $423 a year?

Insurance coverage companies such as State Farm, Allstate and Geico continually stream ads on television and other media. They all seem to make the same claim that you can save after switching your coverage to them. But how can every company say the same thing? It’s all in the numbers.

Different companies have a preferred profile for the type of customer that earns them a profit. A good example of a profitable customer could be over the age of 40, has no prior claims, and drives less than 7,500 miles a year. Any new insured who meets those qualifications will qualify for the lowest rates and is almost guaranteed to save when switching.

Drivers who fall outside this ideal profile must pay a higher premium and ends up with the customer not buying. The ads state “customers who switch” not “everybody who quotes” save that much. That’s the way insurance companies can confidently claim big savings. This illustrates why you need to get a wide range of price quotes. Because you never know which insurance companies will have the lowest Toyota MR2 Spyder insurance rates.

Specific coverage details

Having a good grasp of your policy can help you determine appropriate coverage for your vehicles. Policy terminology can be confusing and nobody wants to actually read their policy.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for expenses for rehabilitation expenses, X-ray expenses and doctor visits. They are used to fill the gap from your health insurance plan or if you do not have health coverage. Coverage applies to both the driver and occupants as well as any family member struck as a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Collision protection

Collision insurance pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things like colliding with a tree, rolling your car, hitting a mailbox, hitting a parking meter and crashing into a building. Collision is rather expensive coverage, so consider removing coverage from older vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Uninsured and underinsured coverage

This protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. It can pay for injuries to you and your family and damage to your Toyota MR2 Spyder.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Comprehensive coverages

This coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like damage from getting keyed, hail damage and fire damage. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Auto liability insurance

Liability insurance can cover damage or injury you incur to other people or property. It protects YOU from legal claims by others, and doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.

Liability coverage protects against claims like emergency aid, structural damage, medical expenses, loss of income and legal defense fees. How much liability coverage do you need? That is a personal decision, but you should buy as high a limit as you can afford.

Best coverage at the best price

Insureds switch companies for many reasons like high prices, policy cancellation, questionable increases in premium or even lack of trust in their agent. No matter why you want to switch, finding a great new company is pretty easy and you might even save some money in the process.

Throughout this article, we presented some good ideas how to reduce 2001 Toyota MR2 Spyder insurance prices online. It’s most important to understand that the more quotes you get, the better your chances of lowering your rates. You may even discover the lowest premiums are with a lesser-known regional company.

Cost effective insurance can be bought from both online companies and with local insurance agents, so you should compare both to have the best chance of lowering rates. There are still a few companies who do not offer online price quotes and many times these smaller companies only sell through independent insurance agents.

Much more information about auto insurance is available on the following sites: