Are you regretting the purchase of overpriced Toyota Tacoma insurance in Plano? It's a common feeling and there are many people just like you.
Inconceivable but true, most car insurance policyholders renewed their policy with the same company for more than four years, and almost half have never taken the time to shop around. Many consumers in Texas could save themselves almost $1,770 a year just by comparing rates, but they underestimate how much money they would save if they switch to a new company.
Steps to finding low-cost rates for Toyota Tacoma insurance in Plano
The most effective way to get low-cost car insurance rates is to regularly compare prices from insurers in Plano. You can shop around by following these guidelines.
- Gain an understanding of car insurance and the changes you can make to drop your rates. Many risk factors that are responsible for high rates like tickets, at-fault accidents, and a less-than-favorable credit score can be remedied by making minor driving habit or lifestyle changes.
- Request rate estimates from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like GEICO and Allstate, while agents who are independent can give you price quotes from multiple companies.
- Compare the new rate quotes to the premium of your current policy and determine if cheaper Tacoma coverage is available in Plano. If you find a lower rate and make a switch, ensure coverage does not lapse between policies.
- Provide adequate notice to your current company to cancel your current policy. Submit the signed application along with the required initial payment to the newly selected company. Be sure to keep your new certificate of insurance with your registration paperwork.
An important bit of advice to remember is to compare the same deductibles and limits on each quote and and to get price estimates from every company you can. This ensures the most accurate price comparison and a good representation of prices.
With consumers having so many insurance providers from which to choose, it can be hard to pick the most cost effective insurance company.
Smart consumers take time to take a look at other company's rates quite often since insurance rates fluctuate regularly. Just because you had the best deal on Toyota Tacoma insurance in Plano a couple years back you may be paying too much now. Ignore everything you know about car insurance because you're about to learn the fastest way to find better rates and still maintain coverage.
Most larger insurance companies such as State Farm, Allstate and GEICO allow you to get prices for coverage directly from their websites. Doing online price comparisons for Toyota Tacoma insurance in Plano is easy for anyone because it's just a matter of typing in your personal and coverage information as detailed in the form. Once you submit the form, the quote system requests your driving and credit reports and provides a quote based on many factors. This streamlines rate comparisons, and it is important to have as many quotes as possible if you want to get a lower rate.
To save time and use this form to compare rates, visit the companies below or click here to submit a quote request to multiple companies at once. To compare your current rates, we recommend you input the limits and deductibles identical to your current policy. This ensures you will be getting rate comparison quotes based on identical coverages.
The auto insurance companies shown below provide quotes in Plano, TX. To get the best cheap car insurance in Plano, TX, we suggest you visit several of them in order to get a fair rate comparison.
Toyota Tacoma insurance rates and statistics
The table displayed below covers different insurance premium costs for Toyota Tacoma models. Learning a little about how auto insurance premiums are established can be useful when making smart policy decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$230||$422||$366||$22||$110||$1,150||$96|
|Tacoma X-Runner 2WD||$230||$496||$366||$22||$110||$1,224||$102|
|Tacoma Double Cab 4WD||$260||$422||$366||$22||$110||$1,180||$98|
|Tacoma Double Cab TRD Off-Road Package 4WD||$260||$422||$366||$22||$110||$1,180||$98|
|Tacoma Double Cab TRD Sport Package 4WD||$260||$422||$366||$22||$110||$1,180||$98|
|Get Your Own Custom Quote Go|
Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Price estimates do not factor in Plano location which can decrease or increase premiums noticeably.
The information below illustrates how choosing a deductible and can increase or decrease Toyota Tacoma insurance costs for different age categories. The data is based on a married male driver, comp and collision included, and no discounts are applied to the premium.
Impact of careless driving on insurance rates
The chart below shows how traffic citations and at-fault accidents influence Toyota Tacoma auto insurance costs for different ages of insureds. The price estimates are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no other discounts are factored in.
Rate comparison of full coverage and liability-only
The illustration below illustrates the comparison of Toyota Tacoma insurance costs when comparing full coverage to liability only. The costs are based on a clean driving record, no claims, $100 deductibles, drivers are single, and no discounts are applied to the premium.
Are you wasting money on full coverage?
There is no specific rule of when to phase out full coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let's say your Toyota Tacoma replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $4,000 after paying your deductible. If premiums are more than $400 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some circumstances where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Why you need insurance for your vehicle
Even though Plano Tacoma insurance rates can get expensive, maintaining insurance is mandatory in Texas but it also protects more than you think.
- Almost all states have minimum liability requirements which means you are required to carry specific minimum amounts of liability coverage if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your vehicle, it's most likely the lender will make it mandatory that you have comprehensive coverage to guarantee their interest in the vehicle. If the policy lapses, the lender may have to buy a policy to insure your Toyota at an extremely high rate and require you to fork over much more than you were paying before.
- Insurance protects both your vehicle and your personal assets. It will also cover hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage will also pay attorney fees if you cause an accident and are sued. If you have damage to your Toyota as the result of the weather or an accident, comprehensive and collision coverage will cover the repair costs.
The benefits of insuring your Tacoma greatly outweigh the cost, particularly for liability claims. The average driver in Texas overpays as much as $825 a year so you should quote rates once a year at a minimum to be sure current rates are still competitive.
How You Can Control Toyota Tacoma Insurance Costs
A large part of saving on car insurance is knowing the rating factors that help calculate your car insurance rates. When you understand what determines premiums, this empowers consumers to make smart changes that can earn you lower rates. Multiple criteria are part of the calculation when you get a price on insurance. Most are fairly basic like a motor vehicle report, but others are more obscure like where you live or how financially stable you are.
The itemized list below are some of the items that factor into your rate level.
- Limits of liability protection - Your policy's liability coverage provides coverage in the event that a jury decides you are liable for physical damage or personal injury to other. Your liability coverage provides for a legal defense starting from day one. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so drivers should carry high limits.
- Is your vehicle theft-ready? - Choosing to buy a car with advanced anti-theft systems can help lower your rates. Theft deterrent systems like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all aid in stopping your vehicle from being stolen.
Insurance is expensive for younger drivers - Beginning drivers in Texas are statistically shown to be less responsible when driving so car insurance rates are higher. Mature drivers are more cautious drivers, cause fewer claims and accidents, and get fewer tickets.
The next chart uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.
- Your occupation is a factor - Do you have a high-stress occupation? Careers like doctors, social workers, and miners usually pay higher rates than the rest of us due to stressful work requirements and lengthy work days. Conversely, jobs such as professors, historians and the unemployed have lower than average premiums.
Loss statistics for a Toyota Tacoma - Insurers use past loss statistics for each vehicle to calculate a price that offsets possible losses. Vehicles that have a higher amount or frequency of claims will have a higher premium rate.
The table below demonstrates the actual insurance loss data for Toyota Tacoma vehicles. For each policy coverage, the loss probability for all vehicles, regardless of make, model or trim level, is considered to be 100. Values that are 100 or less indicate a favorable loss history, while numbers shown that are more than 100 indicate frequent claims or tendency to have larger claims.
Insurance Loss Ratings for Toyota Tacoma Vehicles Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Tacoma Double Cab 2WD 79 109 70 77 76 92 Toyota Tacoma Double Cab 4WD 82 104 84 64 56 77 Toyota Tacoma Double Cab LWB 2WD 87 108 74 96 Toyota Tacoma Double Cab LWB 4WD 84 104 88 68 57 79 Toyota Tacoma Xtra Cab 2WD 80 105 60 86 75 96 Toyota Tacoma Xtra Cab 4WD 71 90 77 48 51 65BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get cheaper Toyota Tacoma insurance in Plano with discounts
The price of auto insurance can be rather high, but you may find discounts that could help you make your next renewal payment. A few discounts will automatically apply at quote time, but some need to be requested specifically before being credited.
- Theft Prevention System - Anti-theft and alarm system equipped vehicles can help prevent theft and will qualify for a discount on a Plano auto insurance quote.
- No Claim Discounts - Plano drivers who stay claim-free pay much less in comparison to frequent claim filers.
- Multi-car Discount - Purchasing coverage when you have multiple cars or trucks on the same insurance policy qualifies for this discount.
- Air Bags and Passive Restraints - Factory options such as air bags and/or automatic seat belt systems can qualify for discounts of 25 to 30%.
- Service Members Pay Less - Being deployed in the military could trigger a small discount.
- One Accident Forgiven - Not necessarily a discount, but some companies like Allstate, State Farm and GEICO may permit one accident before your rates go up with the catch being you have to be claim-free prior to the accident.
- ABS Brakes - Vehicles that have steering control and anti-lock brakes can avoid accidents and therefore earn up to a 10% discount.
As a footnote on discounts, most credits do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. So when it seems like you would end up receiving a 100% discount, companies wouldn't make money that way.
The example below illustrates the comparison of Toyota Tacoma auto insurance rates with and without discounts applied. The premiums are based on a female driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, marriage, claim-free, safe-driver, and multi-car discounts applied.
To locate providers offering insurance discounts in Plano, click this link.
Which is the best auto insurance?
When quoting and comparing coverage, there isn't really a perfect coverage plan. Your situation is unique and your auto insurance should be unique as well. For example, these questions can help discover whether your personal situation may require specific advice.
- Where can I get insurance after a DUI in Texas?
- Does my Toyota Tacoma qualify for pleasure use?
- Does having multiple vehicles earn me a discount?
- Do I need an umbrella policy?
- What if I total my Toyota Tacoma and owe more than it's worth?
- Is my Toyota Tacoma covered for flood damage?
- Does coverage extend to a rental car in a foreign country?
- Should I waive the damage coverage when renting a car?
- Will filing a claim cost me more?
- Is my custom paint covered by insurance?
If you can't answer these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area. It is quick, free and can help protect your family.
Auto insurance agents are trained to help
A small number of people would prefer to have an agent's advice and that is just fine! Good insurance agents are highly skilled in risk management and help in the event of a claim. One of the benefits of getting free rate quotes online is the fact that drivers can get the best rates but also keep your business local.
To help locate an agent, after submitting this simple form, your insurance data is sent to participating agents in Plano who want to provide quotes for your insurance coverage. It simplifies rate comparisons since you won't have to leave your house since price quotes are sent to you directly. If you need to compare prices from a specific company, you just need to visit that company's website and fill out the quote form the provide.
Finding a good provider needs to be determined by more than just a cheap price. Here are some questions to ask:
- Can they give you a list of client referrals?
- How are they compensated?
- Can glass claims be handled at your home?
- Is the coverage adequate for your vehicle?
- Are they full-time agents?
- Does their agency support local causes in Plano?
- Will they take your side in the event of a claim?
Pick the best car insurance agent in Plano for you
If you would like to find a reliable agent, there are a couple of types of insurance agents that differ in how they can insure your vehicles. Insurance policy providers can be described as either exclusive or independent. Either one can sell insurance policies, but it is a good idea to know the differences because it can impact which type of agent you select.
Exclusive Insurance Agencies
Agents that choose to be exclusive write business for a single company like American Family, State Farm, and AAA. These agents are unable to give you multiple price quotes so they really need to provide good service. Exclusive agents are trained well in insurance sales which helps offset the inability to provide other markets.
Listed below are Plano exclusive insurance agencies that are able to give rate quotes.
Independent Agents (or Brokers)
Agents of this type are not employed by one company so they have the ability to put coverage with lots of companies and find the cheapest rate. If they quote lower rates, an independent agent can move your coverage and you can keep the same agent. If you are comparing rate quotes, we recommend you contact several independent agencies for the best price selection.
The following is a short list of independent agents in Plano that can give you comparison quotes.
Plano, TX Car Insurance - The Gallovich Insurance Agency
1145 14th St #2117 - Plano, TX 75074 - (972) 398-0001 - View Map
Lower rates by being persistent
While you're price shopping online, don't be tempted to skimp on coverage in order to save money. Too many times, drivers have reduced full coverage to discover at claim time that saving that couple of dollars actually costed them tens of thousands. The goal is to find the BEST coverage at the best price, not the least amount of coverage.
You just learned many ways to save on Toyota Tacoma insurance in Plano. The key concept to understand is the more providers you compare, the better your chances of lowering your prices. You may even find the lowest priced auto insurance comes from a lesser-known regional company. These smaller insurers often have lower prices on specific markets compared to the large companies like State Farm and Allstate.
How to find low-cost rates for Toyota Tacoma insurance in Plano
If you want to save the most money, the best way to find cheaper prices for Toyota Tacoma insurance is to compare quotes once a year from insurers who provide car insurance in Plano. Rates can be compared by following these steps.
First, read and learn about policy coverages and the changes you can make to keep rates down. Many rating factors that result in higher prices such as traffic violations and an unacceptable credit score can be eliminated by making minor driving habit or lifestyle changes.
Second, request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can give quotes from a single company like GEICO or Allstate, while independent agents can quote rates from multiple sources.
Third, compare the new rate quotes to your current policy to see if cheaper Tacoma coverage is available in Plano. If you can save some money and decide to switch, ensure there is no coverage lapse between policies.
Fourth, provide notification to your current company to cancel your current coverage. Submit a completed policy application and payment to the new insurer. Immediately upon receiving it, place your new proof of insurance certificate with the vehicle registration.
A valuable tip to remember is that you'll want to make sure you compare the same physical damage deductibles and liability limits on each quote request and and to get price quotes from as many companies as you can. This ensures an accurate price comparison and a thorough selection of prices.
More information can be read at the links below
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Who Has Affordable Plano Car Insurance Quotes for a Nissan Altima? (FAQ)
- How Much is Plano Car Insurance After a Speeding Ticket? (FAQ)
- Who Has Cheap Plano Auto Insurance for Uninsured Drivers? (FAQ)
- What Auto Insurance is Cheapest for 4x4 Vehicles in Plano? (FAQ)
- Who Has Affordable Auto Insurance for Drivers with a Bad Driving Record in Plano? (FAQ)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)
- Five Mistakes to Avoid (Insurance Information Institute)