Finding the cheapest car insurance for a Toyota Corolla in Texas relies on a large number of factors such as whether you are single or married, what you do for a living, and your driving record. Drivers in Texas will pay around $1,134 per year to insure their Corolla, but that amount is a valuation based upon a 50-year-old single female driver with full comprehensive and collision coverage and $250 deductibles.
This brings up the issue that more than likely you are not 50 years old and maybe not even female, possibly married instead of single, or maybe you prefer higher deductibles. Every driver's needs are different, and that is why the best way to find the cheapest insurance price for your Toyota is to do the rate comparisons yourself.
Your vehicle's trim level will have an impact the yearly cost, so the cost to insure a Corolla LE trim level will be $32 less than the price to insure the more expensive Corolla XRS trim level, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rate quotes do not factor in Plano location which can influence coverage prices significantly.
Deciding which companies have the most affordable auto insurance rates for a Toyota Corolla may require a tad more effort than just comparing rates from one or two companies. Each company used slightly different criteria for determining prices, so to begin we'll rank the most competitive auto insurance companies in Texas.
Compare Cheap Insurance Quotes for Your Corolla
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,211|
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Travelers has some of the best car insurance rates in Plano at around $1,021 each year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the lowest-priced Plano, TX auto insurance companies.
In the above rates, if you buy coverage from Esurance and switched to USAA, you could earn yearly savings of roughly $295. Texas drivers with California Casualty may save as much as $340 a year, and State Farm insureds might realize rate reductions of up to $366 a year.
To see if your current coverage is too expensive, click here to start your free quote or quote prices from the following companies.
It's important to note that these prices are averaged for all drivers and vehicles in Texas and do not take into consideration a specific zip code for a Toyota Corolla. So the car insurance company that can offer you the best rate may not even be in the list above. That underscores the importance of why you need to compare prices as often as possible using your own specific driver information and vehicle.
How accidents and tickets impact rates
The obvious way to earn low auto insurance rates in Texas for a Corolla is to drive cautiously and avoid accidents and violations. The illustration below illustrates how traffic citations and at-fault collisions influence annual premium costs for different age categories. The prices are based on a single female driver, full physical damage coverage, $250 deductibles, and no discounts are factored in.
In the chart above, the average cost of a car insurance policy in Plano per year with no violations or accidents is $2,445. Receive two speeding tickets and the average cost swells to $3,292, an increase of $847 each year. Then include two accidents along with the two speeding tickets and the yearly cost of auto insurance for a Toyota Corolla increases to an average of $6,291. That's an increase of $3,846, or $321 per month, just for being a little careless behind the wheel!
Low rates can quickly become overpriced
Plano, TX auto insurance rates are influenced by many factors that can increase the price you have to pay. Getting older, buying higher coverage limits, or getting a ticket for running a stop sign can produce rate changes resulting in some rates now being cheaper in comparison to the competition.
And not only may your rating factors change, but auto insurance companies change prices every year in order to protect their financial rating. Heavier than normal losses may result in more expensive premiums, while better underwriting can result in lower-cost Corolla insurance rates.
To help illustrate this point, the graph below compares the cheapest car insurance in Plano, TX for a 45-year-old male driver with no prior claims, no tickets, and a high credit rating. When comparing rates based on his current risk profile, Travelers may offer the cheapest car insurance rates in Plano at $1,081 a year. This is $823 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty are the remaining best Plano, TX auto insurance companies.
In this example, we will give the driver from the first rate comparison some claims, bad credit, and a few blemishes on his driving record. Since each auto insurance company uses their own calculation for setting prices, getting updated rate quotes may result in a different ranking of companies as shown below.
State Farm now has the best auto insurance rate in Plano, TX with Mercury, USAA, Nationwide, and Safe Auto now being in the top five. This demonstrates why it is important to shop around with many companies when trying to get the cheapest auto insurance rates for a Toyota Corolla.
Auto insurance prices are made up of many risk factors and change frequently, so the best option when you last compared rates may now be one of the more expensive options.
The Plano car insurance agencies listed below can aid you in deciding which coverages you need, as lots of people like to have a professional recommendation when trying to find the best insurance rates for a Toyota Corolla. It can be hard to find the best coverage on your own, so getting professional guidance from a licensed agent can provide peace of mind knowing you have enough coverage when you need it. To find an agent close to you, click the button at the bottom of the list.
- Allstate Insurance: Danny Wilson
5501 Independence Pkwy Ste 311 - Plano, TX 75023 - (972) 519-0936
- A-Z Insurance Agency
1110 E Parker Rd #106 - Plano, TX 75074 - (972) 200-5070
- A and H Insurance
2504 K Ave #400 - Plano, TX 75074 - (972) 423-4348
- Matt Lohoefer Insurance
5805 Coit Rd #401 - Plano, TX 75093 - (972) 964-0113
How to find the cheapest auto insurance for a Toyota Corolla
Lowering your rates is not difficult, and here are a few thrifty suggestions that can help you locate lower-cost coverage.
- On older vehicles, drop full coverage
- Higher comprehensive and collision coverage deductibles will save money
- Do not get traffic citations
- Avoid preventable accidents
- Drive vehicles with five-star safety ratings
- Pay lower rates with good credit
- Shop around once a year for cheaper rates
That final tip is incredibly vital, as we emphasized in this piece. Insurance rates in Plano can be adjusted at any time, so don't be afraid to buy a policy from a new company if you find a better deal.
Having a favorite company is fine, but it isn't a good idea if it's costing you hundreds of dollars year after year. It takes less than five minutes to compare prices to find cheaper insurance for a Toyota Corolla.