Lower Your 2004 Toyota MR2 Spyder Insurance Cost

Trying to find the cheapest insurance rates for your Toyota MR2 Spyder? Cutting costs on insurance can seem to be a challenge for consumers new to comparison shopping online. Drivers have so many choices that it can turn into a lot of work to locate the lowest price.

It’s a good habit to price shop coverage quite often since insurance rates are constantly changing. Just because you found the lowest price for MR2 Spyder insurance six months ago you can probably find a lower rate today. Forget anything you know (or think you know) about insurance because you’re about to find out the right way to properly buy coverages while reducing your premium.

Quick Auto Insurance Quotes

There are several ways to get quotes from local auto insurance companies. The quickest method to find the lowest 2004 Toyota MR2 Spyder rates is to perform an online rate comparison. It is quite easy and can be accomplished using a couple different methods.

  1. The best way consumers can make multiple comparisons is a comparison rater form like this one (opens in new window). This easy form keeps you from doing multiple quote forms for every auto insurance company. Taking the time to complete one form will get you price quotes instantly. Just one form and you’re done.
  2. A more difficult way to get quotes online requires visiting the website of each company to complete their respective quote request forms. For examples sake, we’ll pretend you want to compare rates from Progressive, Geico and Travelers. You would have to go to every website and enter your information, which is why most consumers use the first method.

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

  3. The hardest way of getting rate comparisons is to spend time driving to and from local insurance agencies. The internet has reduced the need for local agents unless you prefer the professional guidance that only a license agent can provide. Drivers can get the lowest quotes online and get advice from an agent in your area and we’ll cover that in a bit.

It doesn’t matter which method you choose, just make absolute certain that you use the exact same coverage information for each comparison quote. If you enter mixed coverages it’s not possible to determine the best price for your Toyota MR2 Spyder. Just a small difference in insurance coverages can result in a big premium difference. And when comparing auto insurance rates, know that getting more free quotes will improve the odds of getting better pricing.

Save on Toyota MR2 Spyder insurance

Car insurance companies don’t list every discount in a way that’s easy to find, so we researched both the well known and the harder-to-find discounts you could be receiving.

  • 55 and Retired – If you qualify as a senior citizen, you can possibly qualify for a small decrease in premiums for MR2 Spyder insurance.
  • Drive Safe and Save – Safe drivers may receive a discount up to 45% less for MR2 Spyder insurance than less cautious drivers.
  • Lower Rates for Military – Having a family member in the military may qualify for rate reductions.
  • Early Signing – A few companies offer discounts for signing up prior to your current policy expiring. This can save 10% or more.
  • Life Insurance – Select insurance companies reward you with lower rates if you buy life insurance from them.
  • Passive Restraints – Cars that have air bags may earn rate discounts of 20% or more.
  • Seat Belt Usage – Buckling up and requiring all passengers to wear their seat belts could save 15% off the personal injury premium cost.

As a disclaimer on discounts, most discounts do not apply to the overall cost of the policy. Some only reduce the price of certain insurance coverages like comp or med pay. Just because it seems like all the discounts add up to a free policy, it just doesn’t work that way.

Car insurance companies that may offer some of the above discounts may include but are not limited to:

Check with each insurance company which discounts you may be entitled to. All car insurance discounts might not apply in your state.

Why your Toyota MR2 Spyder insurance rates may be high

Consumers need to have an understanding of the factors that play a part in calculating the rates you pay for car insurance. Having a good understanding of what determines base rates enables informed choices that could result in lower car insurance prices.

  • Your stress level may be raising your rates – Did you know your job can affect your rates? Occupations such as real estate brokers, business owners and stock brokers tend to pay the highest rates attributed to job stress and long work days. On the other hand, jobs such as actors, students and homemakers have the lowest average rates for MR2 Spyder insurance.
  • Discounts for multiple policies – The majority of car insurance companies provide better rates to people who buy several policies from them such as combining an auto and homeowners policy. Discounts can be ten or even up to twenty percent in some cases. Even with this discount, it’s still a good idea to comparison shop to confirm you are receiving the best rates possible.
  • Claim-free discounts can add up – If you frequently file small claims, you can pretty much guarantee either higher rates or even cancellation. Auto insurance companies give better rates to insureds who do not rely on their insurance for small claims. Car insurance is meant to be used in the event of the large, substantial claims.
  • Your location affects your rates – Living in small towns and rural areas has it’s advantages when insuring your vehicles. Fewer people means fewer accidents as well as less vandalism and auto theft. Urban drivers regularly have congested traffic and longer commute times. Higher commute times can result in more accidents.
  • Having a spouse can save you money – Getting married can get you a discount on car insurance. Having a spouse means you’re more mature and responsible and statistics show married couples file fewer claims.
  • Women pay lower rates – Statistics demonstrate that women are safer drivers than men. That doesn’t necessarily mean that men are worse drivers. Men and women cause accidents in similar percentages, but the male of the species cause more damage. Men also tend to get more serious tickets like DUI and reckless driving. Youthful male drivers are several times more likely to be in an accident and therefore have the most expensive car insurance rates.
  • Don’t skimp on liability – The liability section of your policy will protect you if a court rules you are at fault for causing damage or personal injury in an accident. It provides legal defense coverage which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not cut corners here.

Tailor your coverage to you

When it comes to choosing the best insurance coverage, there is no perfect coverage plan. Each situation is unique.

For instance, these questions can help discover if your situation will benefit from professional help.

  • Does my policy pay for OEM or aftermarket parts?
  • Am I covered if I hit a deer?
  • Should I sign the liability waiver when renting a car?
  • Do I have coverage when pulling a U-Haul trailer?
  • Is my camper covered by my car insurance policy?
  • Is my Toyota MR2 Spyder covered if I use it for business?
  • Can I rent a car in Mexico?

If you can’t answer these questions but a few of them apply, you may need to chat with an insurance agent. To find an agent in your area, fill out this quick form.

Don’t be fooled by advertising claims

Insurance coverage providers like State Farm and Allstate consistently run television and radio advertisements. They all make the same claim of big savings if you change to them. How can each company claim to save you money?

All the different companies have a preferred profile for the type of driver that earns them a profit. For instance, a preferred risk might be profiled as between 25 and 40, has no tickets, and chooses high deductibles. A customer who fits that profile is entitled to the best price and therefore will save when they switch companies.

Consumers who fall outside the requirements must pay higher prices and this can result in the customer not buying. The ads state “people who switch” not “people who quote” save that much. That is how insurance companies can confidently advertise the savings. This illustrates why it is so important to get as many comparisons as possible. It’s impossible to know which insurance companies will fit your personal profile best.

Parts of your auto insurance policy

Learning about specific coverages of a auto insurance policy aids in choosing the right coverages and the correct deductibles and limits. Policy terminology can be confusing and even agents have difficulty translating policy wording.

Medical expense coverage

Medical payments and Personal Injury Protection insurance pay for immediate expenses for things like prosthetic devices, rehabilitation expenses and X-ray expenses. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Liability insurance

This coverage will cover damages or injuries you inflict on a person or their property. This insurance protects YOU from legal claims by others. It does not cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 50/100/50 that means you have $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.

Liability insurance covers things such as repair costs for stationary objects, structural damage and bail bonds. How much coverage you buy is your choice, but you should buy as much as you can afford.

Uninsured or underinsured coverage

This coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your Toyota MR2 Spyder.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family.

Collision coverage

This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like backing into a parked car, driving through your garage door, colliding with a tree and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. It’s also possible to raise the deductible to bring the cost down.

Comprehensive protection

Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like hitting a bird, rock chips in glass, a tree branch falling on your vehicle and damage from flooding. The most you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Don’t throw your cash in the trash

The cheapest 2004 Toyota MR2 Spyder insurance can be bought online in addition to many insurance agents, so compare prices from both in order to have the best price selection to choose from. Some car insurance companies do not provide you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.

Drivers leave their current company for a variety of reasons including questionable increases in premium, poor customer service, policy cancellation and even high rates after DUI convictions. No matter why you want to switch, finding a new car insurance company is easier than you think.

Throughout this article, we presented some good ideas how to compare insurance prices online. The most important thing to understand is the more times you quote, the better chance you’ll have of finding lower rates. Consumers could even find that the lowest priced car insurance comes from a smaller regional carrier.

Additional detailed information can be found in the articles below: