Scraping up a payment for overpriced Toyota Tacoma insurance can overdraw your checking account and put the squeeze on your family’s finances. Comparing price quotes is free and is an excellent way to reduce premiums and put more money in your pocket. Multiple car insurance companies compete to insure your vehicles, and it can be difficult to compare rates to get the lowest rate
Pieces of the Toyota Tacoma rate puzzle
Consumers need to have an understanding of some of the elements that play a part in calculating car insurance rates. Knowing what controls the rates you pay empowers consumers to make smart changes that can help you get much lower annual insurance costs.
Shown below are a few of the “ingredients” used by your company to calculate your rates.
- Do you know you’re credit rating? – Having a bad credit score is a big factor in your rate calculation. Consumers who have good credit tend to be less risk to insure than drivers who have lower credit ratings. If your credit history is low, you could potentially save money when insuring your Toyota Tacoma by improving your credit score.
- Choose a safe vehicle and save – Safer cars get lower rates. These vehicles have better occupant injury protection and fewer injuries means lower claim amounts and more competitive rates for policyholders. If the Toyota Tacoma scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
- Having a spouse can save you money – Having a spouse actually saves money when buying car insurance. Marriage translates into being more responsible and it’s proven that being married results in fewer claims.
- Big city or small town – Residing in small towns and rural areas can be a good thing when buying car insurance. Fewer people translates into fewer accidents. City drivers tend to have much more traffic to deal with and longer commutes to work. Longer commute distances can result in more accidents.
- Never go without insurance – Not having insurance is against the law and you will pay a penalty because you let your insurance expire. And not only will your rates increase, but being ticketed for driving with no insurance might get you a steep fine or even jail time.You may then be required to prove you have insurance by filing a SR-22 with the Texas DMV.
Cut your premium with discounts
Car insurance can cost a lot, buy you may qualify for discounts that you may not know about. Larger premium reductions will be automatically applied when you get a quote, but a few must be requested specifically before you will receive the discount. If they aren’t giving you every credit available, you are throwing money away.
- Save over 55 – If you’re over the age of 55, you may be able to get a discount up to 10% for Tacoma coverage.
- Auto/Home Discount – If you insure your home and vehicles with the same insurance company you will save at least 10% off all policies.
- E-sign – Certain companies may give you up to $50 for buying your policy online.
- Clubs and Organizations – Affiliation with a professional or civic organization may earn a discount when shopping for car insurance for Tacoma coverage.
- Theft Prevention Discount – Vehicles with anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
- Own a Home – Simply owning a home may trigger a car insurance policy discount because maintaining a house requires personal responsibility.
- Life Insurance – Select insurance companies reward you with lower rates if you buy a life insurance policy as well.
- Anti-lock Brake Discount – Vehicles equipped with ABS or steering control are safer to drive and will save you 10% or more.
A little note about advertised discounts, most discount credits are not given to your bottom line cost. Most cut specific coverage prices like medical payments or collision. So when the math indicates all those discounts means the company will pay you, companies wouldn’t make money that way. But any discount will bring down your premiums.
To see a list of insurers with the best car insurance discounts in Texas, click this link.
But buying car insurance online seems impersonal
Certain consumers prefer to buy from a local agent and that is just fine! Agents can point out coverage gaps and help submit paperwork. One of the great benefits of comparing rates online is that you can obtain lower rates but also keep your business local. And providing support for local agencies is important especially if you live in a smaller city or town.
To find an agent, once you fill out this quick form, your information is sent to insurance agents who will return price quotes for your insurance coverage. You don’t have to leave your computer as quotes are delivered directly to your email. How cool is that?!
Best insurance agent in Texas
When looking for an insurance agent, there are a couple of types of insurance agents that you can select. Agencies in Texas are classified as either independent (non-captive) or captive. While both can do a good job, but it’s important to know the differences because it can influence the selection process.
Independent Agents (or Brokers)
These agents do not work for one specific company but rather can write business with lots of companies enabling the ability to shop coverage around. To transfer your coverage to a different company, they simply move the coverage in-house and you don’t have to find a new agent.
When shopping rates, it’s a good idea to include price quotes from at least one independent agent to get the best comparison.
Captive Insurance Agents
Captive agents have only one company to place business with like Allstate, Farmers Insurance, State Farm and AAA. These agents are unable to give you multiple price quotes so they are skilled at selling on more than just price. These agents are usually quite knowledgeable on their company’s products which can be an advantage.
To view a full list of agents in Texas, click here.
Deciding on an auto insurance agent requires more thought than just the price. Here are some questions to ask:
- Is vehicle damage repaired with OEM or aftermarket parts?
- Did they already check your driving record and credit reports?
- Do they carry Errors and Omissions coverage?
- Who is covered by the car insurance policy?
- Does the agency provide any after hours assistance?
- Does the agency have a good rating with the Better Business Bureau?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
Once you have received good answers for all questions you ask and a good coverage price, it’s possible that you found an insurance agency that can provide car insurance coverage.
Do drivers who switch really save $479 a year?
Texas consumers get pounded daily by advertisements for cheaper car insurance from the likes of State Farm and Allstate. They all say the same thing about savings if you switch your coverage to them.
But how can every company make almost identical claims?
Different companies have a preferred profile for the right customer that earns them a profit. For instance, a desirable insured could be a mature driver, has no prior claims, and has great credit. Any driver who fits that profile will get the preferred rates and as a result will probably save when switching.
Consumers who don’t qualify for these standards will be charged a higher premium which usually ends up with business not being written. The ads state “customers that switch” not “everyone that quotes” save that much money. That is how companies can state the savings.
That is why it is so important to get a wide range of price quotes. It is impossible to predict which car insurance company will give you the biggest savings.
Which policy gives me the best coverage?
When buying the right insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Your needs are not the same as everyone else’s so your insurance should reflect that These are some specific questions might point out whether your personal situation would benefit from professional advice.
- Can I get a multi-policy discount for packaging my home and auto coverage?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- What if I total my Toyota Tacoma and owe more than it’s worth?
- Do I need to file an SR-22 for a DUI in Texas?
- How much liability do I need to cover my assets?
- Why am I required to get a high-risk car insurance policy?
- Am I covered if I crash into my own garage door?
If you’re not sure about those questions but you know they apply to you, you might consider talking to an insurance agent. If you don’t have a local agent, complete this form or go to this page to view a list of companies. It is quick, free and may give you better protection.
For more reading
Additional car insurance information is available on the website for the Texas Department of Insurance. Click here for link. Texas drivers can learn about specific coverages, file complaints about an insurance agent or broker, and view a list of available companies.
Other useful links include BankRate.com’s Car Insurance: When not to Skimp and how to find Texas insurance agents.
Keep this in mind
Affordable Toyota Tacoma insurance can be sourced online in addition to many Texas insurance agents, and you should compare price quotes from both to have the best rate selection. Some companies do not provide online quoting and these small, regional companies work with independent agents.
Throughout this article, we presented a lot of information how to reduce Toyota Tacoma insurance prices online. The key concept to understand is the more you quote, the more likely it is that you will get a better rate. Drivers may discover the lowest priced car insurance comes from the smaller companies. Regional companies can often insure niche markets at a lower cost compared to the large companies like Progressive and GEICO.
When you buy insurance online, it’s not a good idea to buy lower coverage limits just to save a few bucks. In many instances, an insured dropped liability coverage limits only to find out that the savings was not a smart move. The ultimate goal is to purchase plenty of coverage for the lowest price while not skimping on critical coverages.