There isn’t anyone who anticipates paying for auto insurance, in particular when the prices are way too high. Insurance companies such as GEICO and Progressive all claim big savings, bombarding you with advertising and it is challenging if not impossible to see past the corporate glitz and take the time to shop coverage around.
It is always a good idea to compare premium rates every six months because insurance rates are rarely the same from one policy term to another. Even if you think you had the best deal on Prius insurance a few years ago you can probably find a better price now. There is too much inaccurate information about auto insurance online, but I’m going to show you some excellent ideas to find cheap auto insurance.
More affordable rates with these nine discounts
Not too many consumers would say auto insurance is affordable, but you may find discounts that could drop your premiums quite a bit. A few discounts will automatically apply at the time of purchase, but once in a while a discount must be asked about prior to getting the savings. If you’re not getting every credit you qualify for, it’s possible you qualify for a lower rate.
- Payment Method – If you pay your bill all at once instead of making monthly payments you could save 5% or more.
- Smart Student Discounts – Performing well in school can get you a discount of up to 25%. Most companies allow this discount until age 25.
- Discounts for Cautious Drivers – Insureds without accidents can pay as much as 50% less on Prius insurance than drivers with accidents.
- Anti-theft System – Cars, trucks, and SUVs optioned with advanced anti-theft systems are stolen less frequently and will save you 10% or more.
- Anti-lock Brake Discount – Cars and trucks that have anti-lock braking systems are safer to drive so companies give up to a 10% discount.
- Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them complete a driver education course in school.
- Driver Safety – Completing a course teaching safe driver skills could cut 5% off your bill depending on where you live.
- Passive Restraint Discount – Vehicles with factory air bags can qualify for discounts of more than 20%.
- Telematics Devices – Policyholders that allow data collection to look at driving patterns by using a telematics device in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system may get a rate reduction if they show good driving skills.
Discounts reduce rates, but you should keep in mind that many deductions do not apply to the entire cost. Most only cut individual premiums such as liability, collision or medical payments. Even though the math looks like it’s possible to get free car insurance, company stockholders wouldn’t be very happy.
Large auto insurance companies and the discounts they provide can be read below.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, accident-free, anti-theft, multiple autos, driver’s education, safe vehicle, and good student.
- Progressive may have discounts that include multi-policy, online quote discount, multi-vehicle, online signing, and homeowner.
- Progressive has savings for continuous coverage, online quote discount, homeowner, good student, and multi-vehicle.
- MetLife offers discounts for claim-free, defensive driver, good driver, good student, multi-policy, accident-free
- Farm Bureau has discounts for good student, renewal discount, youthful driver, safe driver, 55 and retired, and multi-policy.
- GEICO offers premium reductions for emergency military deployment, five-year accident-free, multi-policy, anti-theft, military active duty, federal employee, and driver training.
- SAFECO may include discounts for anti-theft, bundle discounts, drive less, anti-lock brakes, homeowner, safe driver, and teen safety rewards.
Check with each insurance company which discounts they offer. Some of the earlier mentioned discounts might not be offered in Dallas.
Learn more about Texas auto insurance
More detailed Texas auto insurance information is located at the Texas Department of Insurance website. Texas drivers can find a variety of consumer forms, file complaints about a company, find disaster information, and find out industry alerts.
The following information may also be useful.
Auto insurance coverage considerations
Knowing the specifics of a auto insurance policy helps when choosing the right coverages and the correct deductibles and limits. Auto insurance terms can be ambiguous and even agents have difficulty translating policy wording. Shown next are typical coverages offered by auto insurance companies.
Medical expense coverage
Medical payments and Personal Injury Protection insurance pay for immediate expenses like dental work, X-ray expenses, EMT expenses, chiropractic care and rehabilitation expenses. The coverages can be utilized in addition to your health insurance plan or if there is no health insurance coverage. It covers both the driver and occupants in addition to being hit by a car walking across the street. PIP is not an option in every state but can be used in place of medical payments coverage
Uninsured or underinsured coverage
This protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include injuries to you and your family as well as damage to your Toyota Prius.
Because many people carry very low liability coverage limits (30/60/25 in Texas), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Liability coverages
Liability coverage provides protection from damage that occurs to other people or property in an accident. It protects you from claims by other people, and does not provide coverage for damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.
Liability coverage pays for things like legal defense fees, repair costs for stationary objects, pain and suffering and attorney fees. The amount of liability coverage you purchase is your choice, but you should buy as large an amount as possible. Texas state minimum liability requirements are 30,000/60,000/25,000 but you should consider buying more coverage.
Collision insurance
Collision insurance pays to fix your vehicle from damage caused by collision with an object or car. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for things such as sideswiping another vehicle, sustaining damage from a pot hole, colliding with a tree and rolling your car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.
Comprehensive protection
Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims like hitting a deer, hitting a bird, a tree branch falling on your vehicle and fire damage. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Do the work, save more money
We just showed you a lot of techniques to get a better price on Toyota Prius insurance. The key thing to remember is the more you , the more likely it is that you will get a better rate. You may even find the most savings is with some of the smallest insurance companies. These companies can often provide lower rates in certain areas compared to the large companies like Progressive or GEICO.
Low-cost Toyota Prius insurance is available online and also from your neighborhood Dallas agents, and you should be comparing both to have the best rate selection. A few companies may not offer online rate quotes and these regional carriers sell through independent agents.