Compare Toyota Camry Insurance Quotes in Plano

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It takes a little time, but the best way to find cheaper Toyota Camry insurance in Plano is to compare quotes once a year from insurers who provide auto insurance in Texas. Prices can be compared by following these guidelines.

  1. It will benefit you to learn about car insurance and the factors you can control to prevent high rates. Many factors that cause rate increases like your driving record and a low credit score can be remedied by making small lifestyle or driving habit changes. This article gives tips to help prevent expensive coverage and find more discounts that you may not know about.
  2. Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like GEICO or Farmers Insurance, while independent agents can provide price quotes from many different companies. Find a Plano insurance agent
  3. Compare the new rate quotes to your existing rates to determine if switching companies saves money. If you can save money, make sure there is no coverage gap between policies.

One bit of advice is to try to use similar coverage information on each price quote and to quote with as many different companies as possible. This enables a fair price comparison and a thorough selection of prices.

Insurance quote for Toyota Camry in PlanoIt's safe to assume that auto insurance companies want to prevent you from shopping around. Drivers who shop around for better prices are highly likely to buy a different policy because there is a great chance of finding a lower-priced policy. A study discovered that people who routinely shopped for cheaper coverage saved over $70 a month compared to drivers who never shopped around for better prices.

If saving the most money on auto insurance is your ultimate goal, then learning about the best ways to shop for auto insurance can make it simple to find affordable coverage.

Coverage analysis

The rate table displayed below showcases estimates of insurance rates for Toyota Camry models. Understanding more about how insurance rates are calculated can help drivers make smart policy decisions.

Toyota Camry Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $272 $400 $500 $30 $150 $1,352 $113
Camry SE $272 $472 $500 $30 $150 $1,424 $119
Camry XLE $272 $472 $500 $30 $150 $1,424 $119
Camry Hybrid $308 $472 $564 $34 $168 $1,546 $129
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Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Table data does not factor in specific location information which can alter rates considerably.

Analysis of deductible levels

A question often asked by Plano drivers is which comprehensive and collision deductibles to buy. The premium rates below may help to conceptualize how much more rates are between low and high physical damage coverage deductibles. The first table uses a $100 deductible and the second pricing table uses a $500 deductible.

Toyota Camry insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $328 $592 $382 $22 $114 $1,463 $122
Camry SE $328 $698 $382 $22 $114 $1,569 $131
Camry XLE $328 $698 $382 $22 $114 $1,569 $131
Camry Hybrid $370 $698 $430 $26 $128 $1,677 $140
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Toyota Camry insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $240 $400 $382 $22 $114 $1,158 $97
Camry SE $240 $472 $382 $22 $114 $1,230 $103
Camry XLE $240 $472 $382 $22 $114 $1,230 $103
Camry Hybrid $270 $472 $430 $26 $128 $1,326 $111
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Price information does not factor in specific Plano garaging location which can change coverage prices substantially.

Based on the above data, using a $100 deductible could cost the average driver approximately $27 more each month or $324 each year across all Toyota Camry models than requesting the higher $500 deductible. Because you would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you have more than 15 months between claims, you would come out ahead going with the higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $100 deductibles: $131
Average monthly premium for $500 deductibles (subtract): - $104
Monthly savings from raising deductible: $27
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $27
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 15 months

An important sidenote is that a higher deductible level means you will have to pay more when you file a claim. You need to make sure you have some extra savings in order to pay the higher deductible.

The illustration below illustrates how your deductible choice and can influence Toyota Camry annual premium costs for different age groups. The rates are based on a single male driver, full physical damage coverage, and no discounts are applied.

Difference between liability only and full coverage rates

The chart below shows the comparison of Toyota Camry premium costs with and without physical damage coverage. The information is based on no claims or driving citations, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

When to drop comprehensive and collision

There is no definitive rule of when to stop paying for physical damage coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let's assume your Toyota Camry book value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $2,000 after the policy deductible has been paid. If it's costing you more than $200 a year to have full coverage, then you may want to consider only buying liability coverage.

There are some situations where dropping physical damage coverage is not financially feasible. If you still owe money on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

How to Lower Your Insurance Premiums

Lots of factors are part of the equation when quoting car insurance. Some are obvious such as your driving record, but other criteria are less obvious like your vehicle usage and annual miles driven.

The following are some of the most common factors companies use to determine your premiums.

  • Getting married brings a discount - Getting married can actually save you money on insurance. Having a spouse means you're more mature and it's proven that married drivers get in fewer accidents.
  • Your address can push rates up or down - Choosing to live in less populated areas of the country has it's advantages when buying insurance. Less people means fewer accidents and lower theft and vandalism rates. Urban drivers have more aggressive driving styles and more severe claims. More time on the road means more chances of being involved in an auto accident.
  • Gender and auto insurance - Statistics demonstrate females are less aggressive when driving. This data doesn't prove that females are better at driving than males. Women and men cause fender benders in similar percentages, but the males cause more damage and cost insurance companies more money. Men also tend to get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly. Young males are several times more likely to be in an accident and therefore have the most expensive insurance rates.

    The chart below illustrates the difference between Toyota Camry annual premium costs for male and female drivers. The prices are based on no accidents or driving violations, full coverage, $500 deductibles, marital status is single, and no discounts are applied.

  • Costs are impacted by vehicle performance - The performance level of the car, truck or SUV you are insuring makes a significant difference in your auto insurance rates. The lowest base rates are usually found on smaller low performance passenger cars, but the cost you end up paying is determined by many additional factors.

    The following chart uses these variables: married male driver age 50, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Toyota Camry car insurance rates compared to other vehicles that have a range of performance risks.

  • Accidents will cost you - Careful drivers pay less for auto insurance compared to bad drivers. Getting just one speeding ticket may increase your cost by twenty percent. Drivers who have received severe violations such as reckless driving or DUI might be required by their state to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to drive a vehicle legally.

    The chart below shows how violations and at-fault fender-benders can increase Toyota Camry insurance prices for different age categories. Data assumes a single female driver, full coverage, $100 deductibles, and no other discounts are factored in.

  • Credit rating impacts premium costs - Having a bad credit score can be an important factor in determining what you pay. If your credit history is lower than you'd like, you could potentially save money when insuring your Toyota Camry by spending a little time repairing your credit. Insureds that have high credit ratings tend to be more responsible and file fewer claims as compared to drivers with poor credit scores.
  • Eliminate add-on coverages - There are quite a few additional coverages that can add up if you aren't careful. Add-on coverages like roadside assistance, accidental death, and membership fees may not be needed and are just wasting money. You may think they are a good idea when discussing your needs, but if you have no use for them eliminate them to save money.
  • Choose high NHTSA crash test ratings and save - Vehicles with good safety scores tend to be cheaper to insure. Vehicles built for safety result in less severe injuries and lower injury rates translates into savings for insurance companies and cheaper rates on your policy. If your Toyota scored at minimum four stars on Safercar.gov it is probably cheaper to insure.
  • Insurance loss probability for a Toyota Camry - Companies analyze claim trends for every vehicle when they file their rates in each state. Models that statistically have higher frequency or amount of claims will cost more to insure.

    The next table shows the loss history for Toyota Camry vehicles. For each policy coverage type, the statistical loss for all vehicles, regardless of manufacturer or model, is represented as 100. Values below 100 represent a good loss history, while values that are above 100 indicate a higher chance of having a claim or an increased chance of larger losses than average.

    Insurance Loss Ratings for Toyota Camry Vehicles
    Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Toyota Camry 110 94 102 148 145 107
    Toyota Camry Hybrid 124 100 110 118 127 96
    BETTER
    AVERAGE
    WORSE

    Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Shop around and save

Some insurance companies may not provide the ability to get a quote online and these smaller providers only sell coverage through local independent agencies. Discount Toyota Camry insurance can be sourced both online and with local Plano insurance agents, and you need to comparison shop both to have the best selection.

While you're price shopping online, make sure you don't skimp on coverage in order to save money. In many cases, an insured cut uninsured motorist or liability limits only to regret at claim time they didn't have enough coverage. Your strategy should be to buy enough coverage at the best possible price.

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