Cheaper 2003 Toyota Corolla Insurance Quotes

Sick and tired of trying to scrape together enough money to pay your car insurance bill each month? You’re in the same situation as millions of other consumers. There are many insurance companies to purchase coverage from, and although it’s nice to have a choice, it makes it harder to compare rates and cut insurance costs.

It’s a good habit to do rate comparisons every six months since insurance rates are rarely the same from one policy term to another. Just because you had the best rates for Corolla insurance last year you can probably find a better price now. Block out anything you think you know about car insurance because you’re about to learn the easiest way to buy cheaper car insurance.

Finding the best rates is quite easy. If you have insurance now or are just looking to switch companies, you can learn to get lower rates and still get good coverage. Drivers just need to understand the proper methods to compare rates over the internet.

Toyota Corolla premiums are determined by many factors

An important part of buying insurance is that you know the factors that come into play when calculating your auto insurance rates. Knowing what impacts premium levels allows you to make educated decisions that may reward you with much lower annual insurance costs.

  • An active claims history can cost you – If you file claims often, you can expect either a policy non-renewal or much higher rates. Insurance companies give discounts to policyholders who are claim-free. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
  • Never go without insurance – Not having insurance is against the law and auto insurance companies will penalize you for letting your insurance expire. And not only will your rates increase, but being ticketed for driving with no insurance may earn you a hefty fine and possibly a revoked license.Then you may be required to prove you have insurance by filing a SR-22 with your state DMV.
  • Careful drivers pay lower rates – Even one speeding ticket can bump up the cost forty percent or more. Drivers who don’t get tickets have lower premiums than people who have multiple driving citations. If you have severe violations such as DUI or reckless driving may find they need to submit a SR-22 form with their state DMV in order to drive a vehicle legally.
  • Increase deductibles and save – Physical damage insurance, also known as collision and other-than-collision, is used to repair damage to your Toyota. Examples of covered claims are a windshield shattered by a rock, damage caused by hail, or theft. Deductibles for physical damage are how much you are required to spend out-of-pocket before a claim is paid by your company. The more money you’re willing to pay, the lower your rates will be for Corolla insurance.
  • Liability coverage is peace of mind – Liability insurance is the protection in the event that a court rules you are at fault for causing damage or personal injury in an accident. Liability provides legal defense up to the limits shown on your policy. Liability is cheap compared to physical damage coverage, so buy as much as you can afford.
  • Optional equipment can affect rates – Choosing a vehicle with a theft deterrent system can help lower your rates. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart auto theft.
  • More than one policy can earn a discount – Many auto insurance companies will give a discount to customers who have multiple policies with them. It’s known as a multi-policy discount. Discounts can amount to ten or even up to twenty percent in some cases. Even with this discount, you still need to comparison shop to ensure the best deal.

Don’t overlook these discounts

Companies don’t always publicize all their discounts in an easy-to-find place, so the following is a list of both well-publicized and the more hidden ways to save on auto insurance. If they aren’t giving you every credit possible, you are paying more than you should be.

  • Use Seat Belts – Using a seat belt and requiring all passengers to wear their seat belts can save up to 15% on the medical payments or PIP coverage costs.
  • Accident Waiver – A few companies will allow you to have one accident before raising your premiums if you are claim-free for a set time period.
  • Life Insurance – Companies who offer life insurance give a break if you buy auto and life insurance together.
  • Government Employees – Simply working for the federal government can save as much as 8% for Corolla insurance with select insurance companies.
  • No Accidents – Drivers who don’t have accidents pay less when compared with frequent claim filers.
  • Safety Course Discount – Completing a driver safety course can save you 5% or more depending on where you live.
  • College Student – Youth drivers who live away from home and don’t have a car may be able to be covered for less.
  • Multi-policy Discount – If you insure your home and vehicles with one insurance company you may earn approximately 10% to 15%.
  • Anti-lock Brake System – Cars that have steering control and anti-lock brakes can avoid accidents and earn discounts up to 10%.

Drivers should understand that most discounts do not apply to the entire policy premium. Most cut specific coverage prices like liability, collision or medical payments. So even though it sounds like you would end up receiving a 100% discount, it doesn’t quite work that way.

A partial list of companies that may offer some of the above discounts include:

Double check with each company how you can save money. All car insurance discounts might not be offered in your state.

Is my situation unique?

When choosing coverage, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For instance, these questions may help highlight if your situation could use an agent’s help.

  • Do I need an umbrella policy?
  • Do I have coverage when pulling a U-Haul trailer?
  • What should my uninsured motorist coverage limits be in my state?
  • What exactly is covered by my policy?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Where can I find DUI or SR-22 insurance?
  • Which is better, split liability limits or combined limits?
  • Do I have coverage for damage caused while driving under the influence?
  • Where can I find high-risk insurance?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of auto insurance companies in your area. It only takes a few minutes and you can get the answers you need.

Learn about car insurance coverages for a Toyota Corolla

Learning about specific coverages of your policy helps when choosing the right coverages for your vehicles. Car insurance terms can be difficult to understand and coverage can change by endorsement. These are the usual coverages found on most car insurance policies.

Coverage for liability

Liability coverage protects you from damages or injuries you inflict on other’s property or people in an accident. This coverage protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 100/300/100 which means a $100,000 limit per person for injuries, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property.

Liability coverage pays for things such as medical services, bail bonds, legal defense fees, court costs and emergency aid. How much liability should you purchase? That is a personal decision, but consider buying higher limits if possible.

Collision coverage

This coverage will pay to fix damage to your Corolla resulting from a collision with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision can pay for things such as backing into a parked car, hitting a mailbox, crashing into a building, driving through your garage door and colliding with a tree. This coverage can be expensive, so consider removing coverage from older vehicles. It’s also possible to increase the deductible to save money on collision insurance.

Protection from uninsured/underinsured drivers

This gives you protection from other motorists when they either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your 2003 Toyota Corolla.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.

Comprehensive (Other than Collision)

This pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as theft, a tree branch falling on your vehicle and hail damage. The maximum amount your car insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical expense insurance

Medical payments and Personal Injury Protection insurance provide coverage for bills for X-ray expenses, hospital visits, doctor visits and EMT expenses. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states and may carry a deductible

More choices the merrier

Cost effective 2003 Toyota Corolla insurance can be sourced online as well as from independent agentsinsurance , so you should be comparing quotes from both so you have a total pricing picture. There are still a few companies who don’t offer the ability to get a quote online and most of the time these small, regional companies sell through independent agents.

When trying to cut insurance costs, never buy less coverage just to save a little money. In many instances, an insured dropped collision coverage only to find out that the small savings ended up costing them much more. Your goal should be to purchase plenty of coverage at an affordable rate.

Much more information about insurance coverage is located at these links: