Finding cheap auto insurance for a Toyota Highlander in Texas depends on a whole bunch of rating criteria such as whether the vehicle is new, where you live, and the level of deductible you choose. Drivers pay on average $1,194 annually to insure their Highlander, but that figure is a projection calculated using a 50-year-old married female driver with both comprehensive and collision coverage and $100 deductibles.
But there is a good chance that you’re not a 50-year-old female, possibly single instead of married, and you may just want the cheapest liability coverage you can find. Having what appears to be a very minor change in rating variables or coverage information can make a big difference in the amount insurance costs for a Toyota Highlander.
Every driver’s needs are different, and that is why the best way to find the cheapest coverage for your Toyota is to do a thorough rate comparison. Get your free quotes now and you will be able to compare rates from some of the best insurers that sell coverage in Texas.
Your Toyota’s trim level will most likely have an effect on the yearly cost, so the rate you pay to insure a Highlander 2WD will be $242 less expensive the price to insure the high end Highlander Hybrid Limited 4WD trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Highlander Sport 4WD||$284||$492||$358||$22||$108||$1,264||$105|
|Highlander SE 2WD||$284||$492||$358||$22||$108||$1,264||$105|
|Highlander Sport 2WD||$284||$492||$358||$22||$108||$1,264||$105|
|Highlander Limited 2WD||$318||$580||$358||$22||$108||$1,386||$116|
|Highlander SE 4WD||$318||$580||$358||$22||$108||$1,386||$116|
|Highlander Limited 4WD||$318||$580||$358||$22||$108||$1,386||$116|
|Highlander Hybrid 4WD||$318||$580||$358||$22||$108||$1,386||$116|
|Highlander Hybrid Limited 4WD||$318||$580||$358||$22||$108||$1,386||$116|
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Above prices assume married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Information does not factor in specific location which can influence price quotes noticeably.
Ending up with a highly-rated insurance company can be difficult considering how many companies sell insurance in Texas. The company information shown next can help you choose which coverage providers you want to consider when insurance shopping for a Toyota Highlander.
These ratings include major nationwide insurance companies, so companies that may only write in Texas are not taken into consideration for the list. If you’d like to compare prices from many more Texas auto insurance companies, click here.
Top 10 Large Auto Insurance Providers in Plano Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
The illustration below demonstrates how deductibles can affect annual premium costs when searching for cheap insurance for a Toyota Highlander. The information is based on a single male driver, comp and collision included, and no discounts are applied.
As shown above, a 30-year-old driver could lower their policy premium by $504 a year by switching from a $100 deductible to a $500 deductible, or save $764 by using a $1,000 deductible. Even younger insureds, such as the Age 20 example, could shave up to $1,476 each year just by choosing higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it is necessary to have enough in a savings account to enable you to cover the extra out-of-pocket expense that comes with higher deductibles.
Liability-only versus full coverage
Saving money on car insurance is important to the majority of vehicle owners, and one great way to lower the cost of insurance for a Toyota Highlander is to not insure for full coverage. The diagram below visualizes the comparison of auto insurance costs with full physical damage coverage compared to only buying liability only. The rate quotes are based on no accidents or driving violations, $100 deductibles, marital status is single, and no other discounts are factored in.
If averaged for all ages, full coverage on your policy costs $2,641 per year more than carrying just liability coverage. Lot’s of drivers question if physical damage coverage is worth the money. There is no clear-cut formula to stop buying comp and collision coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than around 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let’s assume your vehicle’s replacement value is $10,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $9,000 after you pay the deductible. If you are paying in excess of $900 a year for physical damage coverage, then it’s probably a good time to buy liability coverage only.
There are some conditions where dropping physical damage coverage is not a good idea. If you haven’t satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.
Drive responsibly or pay higher rates
The common sense way to enjoy the most affordable car insurance rates in Plano for a Highlander is to drive cautiously and avoid accidents and keep your driving record clean. The illustration below illustrates how speeding tickets and at-fault claims can increase insurance premiums for different age groups of insureds. Data assumes a married male driver, comp and collision included, $100 deductibles, and no other discounts are factored in.
In the previous example, the average cost of a car insurance policy in Texas per year with no accidents and a clean driving record is $2,260. Receive one speeding ticket and the average cost rises to $2,591, an increase of $332 each year. Now include two accidents along with the one speeding ticket and the yearly cost of car insurance for a Toyota Highlander jumps again to an average of $5,349. That’s an increase of $3,090, or $257 per month, just for not being a responsible driver!
If you prefer to get help from a professional when trying to find the best insurance rates for a Toyota Highlander, the agents listed below can probably aid you in deciding which insurance coverage you need. To locate a Plano car insurance agency close to you, click the button at the bottom.
- Guest Insurance Agency
903 18th St Ste 124 – Plano, TX 75074 – (972) 424-4209
- A-Z Insurance Agency
1110 E Parker Rd #106 – Plano, TX 75074 – (972) 200-5070
- Choice Insurance LLC
5045 Bridge Creek Dr – Plano, TX 75093 – (469) 467-6379
- Royalty Insurance Agency
5048 Tennyson Pkwy #250 – Plano, TX 75024 – (972) 801-9188
- John Kraft – State Farm Insurance Agent
10185 Custer Rd #100 – Plano, TX 75025 – (972) 517-8859