Toyota Camry insurance cost image courtesy of QuoteInspector.com
Want to know how to find more affordable Toyota Camry Hybrid insurance in Colorado Springs? Expensive Toyota Camry Hybrid insurance in Colorado Springs can empty your checking account and force you to tighten up your finances.
We don't have to point out that fact that insurance companies want to keep you from comparing rates. Drivers who shop for lower prices are inclined to switch insurance companies because there is a high probability of finding lower rate quotes. A recent survey discovered that people who shopped around annually saved on average $850 each year compared to drivers who don't regularly compare prices.
If finding budget-friendly Toyota Camry Hybrid insurance in Colorado Springs is your objective, then understanding how to quote and compare cheaper coverage can help you succeed in saving money.
How to find low-cost Toyota Camry Hybrid insurance in Colorado Springs
The best way to get affordable Toyota Camry Hybrid insurance is to regularly compare prices from insurers in Colorado Springs. Rates can be compared by completing these steps.
- Try to comprehend how auto insurance works and the changes you can make to keep rates low. Many things that cause high rates such as traffic citations and an unacceptable credit score can be eliminated by making minor changes to your lifestyle. Later in this article we will cover tips to find cheap prices and earn a bigger discount.
- Compare rates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from a single company like Progressive or Farmers Insurance, while independent agents can give you price quotes from multiple insurance companies. Get quotes now
- Compare the quotes to your existing rates to determine if switching companies saves money. If you can save some money and switch companies, verify that coverage does not lapse between policies.
- Notify your agent or company of your intention to cancel your existing policy and submit payment and a completed application to the new insurer. As soon as you have the new policy, put the certificate verifying coverage in your vehicle's glove compartment or console.
A tip to remember is that you'll want to compare identical deductibles and limits on each quote and to quote with every company you can. This provides the most accurate price comparison and many rates to choose from.
Multiple insurers compete for your business, so it's not easy to compare every company to find the absolute lowest rate on Toyota Camry Hybrid insurance in Colorado Springs.
It's a good habit to price shop coverage on a regular basis because rates change frequently. Even if you got the best premium rates on Toyota Camry Hybrid insurance in Colorado Springs a year ago there is a good chance you can find better prices now. Ignore everything you know about insurance because we're going to show you one of the easiest ways to save on insurance.
If you already have coverage, you will most likely be able to shop for the lowest rates using the following tips. Finding the cheapest auto insurance coverage in Colorado Springs is actually not that difficult if you follow our advice. But Colorado vehicle owners do need to learn the way insurance companies price insurance differently and use this information to your advantage.
To get affordable Colorado Springs auto insurance quotes, there a variety of ways to compare prices from different companies. The best way to find cheaper rates is to use the internet to compare rates.
Doing online rate quotes comparisons is so easy that it takes the place of having to drive around to local Colorado Springs insurance agencies. Shopping for car insurance online reduces the need to sit down with an agent unless you have a complicated situation and need the trained guidance that only a licensed agent can provide. It is possible with some companies comparison shop online but buy the policy through an agent. When comparison shopping, getting more free quotes will enable you to find a lower rate than you're paying now. Some smaller insurers do not give online Colorado Springs Camry Hybrid insurance quotes, so you also need to get quotes from the smaller companies as well.
The companies shown below have been selected to offer comparison quotes in Colorado. If you wish to find the best auto insurance in Colorado Springs, CO, we recommend you visit several of them to find the lowest car insurance rates.
Rates and detailed analysis
The table shown next showcases a range of insurance policy prices for Toyota Camry Hybrid models. Understanding how insurance prices are determined can help you make informed decisions when comparing rate quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Table data does not factor in specific location information which can raise or lower premiums substantially.
Comparison of insurance rates by gender
The example below compares Toyota Camry Hybrid insurance prices for male and female drivers. The data is based on no violations or claims, comprehensive and collision coverage, $500 deductibles, single status, and no discounts are taken into consideration.
Full coverage versus liability only rates
The example below shows the comparison of Toyota Camry Hybrid auto insurance rates when comparing full coverage to state minimum liability only. The costs are based on no driving violations, no at-fault accidents, $250 deductibles, marital status is single, and no other discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no set guideline of when to stop paying for full coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let's say your Toyota Camry Hybrid claim settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $2,000 after paying your policy deductible. If it's costing you more than $200 annually for comprehensive and collision coverage, then you might consider buying liability only.
There are some circumstances where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not buy liability only.
Car insurance does more than just repair your car
Despite the high cost of buying insurance for a Toyota Camry Hybrid in Colorado Springs, paying for car insurance may be required for several reasons.
- Almost all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific level of liability protection in order to drive the car legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your vehicle has a lienholder, almost every bank will require that you have full coverage to ensure they get paid if you total the vehicle. If you let the policy lapse, the bank will be required to insure your Toyota for a much higher rate and force you to pay the higher premium.
- Car insurance protects not only your vehicle but also your financial assets. It will also reimburse you for many types of medical costs for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if you are sued as the result of an accident. If damage is caused by hail or an accident, your car insurance policy will pay to repair the damage minus the deductible amount.
The benefits of having car insurance are without a doubt worth the cost, especially for larger claims. On average, a vehicle owner in Colorado Springs overpays more than $800 each year so it's recommended you shop around each time the policy renews to ensure rates are inline.
Toyota Camry Hybrid Insurance Rates Can Be Cheaper
Lots of things are considered when pricing auto insurance. Some are pretty understandable such as your driving history, although others are more transparent such as your credit history or your vehicle rating.
Listed below are some of the factors insurance companies consider when setting rates.
- Liability is important - Liability insurance will protect you in the event that a jury decides you are liable for causing personal injury or damage in an accident. This coverage provides for a legal defense to attempt to prove you were not liable. Carrying liability coverage is mandatory and cheap compared to comp and collision, so do not cut corners here.
- Multiple policies with one company can save - Most larger insurance companies afford better rates to buyers who carry more than one policy. It's known as a multi-policy discount. Even with this discount applied, you may still want to compare Toyota Camry Hybrid rates in Colorado Springs to verify if the discount is saving money.There is a good possibility that you can save money by insuring with multiple companies.
- Deter car thieves - Selecting a car model with a theft deterrent system can help bring down rates. Theft deterrent systems like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all aid in stopping auto theft and help lower rates.
- Deductibles are a factor - The deductibles you choose represent how much money you are required to spend out-of-pocket before a claim is paid by your company. Physical damage insurance, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your car. Some examples of claims that would be covered are a windshield broken by a bird, fire damage, and damage caused by road hazards. The higher the amount you choose to pay out-of-pocket, the less your company will charge you for insurance.
- Having a spouse pays dividends - Having a spouse can actually save you money on your policy. Having a spouse is viewed as being more stable financially and insurance companies like that drivers who are married file infrequent claims.
- Keep insurance claims to a minimum - If you tend to file frequent claims, you can pretty much guarantee much higher rates or policy non-renewal. Auto insurance companies in Colorado provide lower rates to people who file claims infrequently. Auto insurance is meant to be used in the event of claims that you cannot pay yourself.
Insurance losses for a Toyota Camry Hybrid - Insurers use historical loss data in order to profitably underwrite each model. Models that tend to have higher loss trends will cost more for specific coverages.
The table shown below demonstrates the collected loss data for Toyota Camry Hybrid vehicles. For each insurance policy coverage type, the claim amount for all vehicles, as a total average, is a value of 100. Values that are below 100 are indicative of better than average losses, while percentage numbers above 100 indicate frequent claims or tendency to have higher losses.
Toyota Camry Hybrid Insurance Claim Statistics Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Camry Hybrid 124 100 110 118 127 96BETTERAVERAGEWORSE
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Slash rates with these discounts
Auto insurance companies don't necessarily list every available discount very well, so we took the time to find both the well known and the more hidden discounts you could be receiving when you buy Colorado Springs auto insurance online. If you're not getting every credit you qualify for, you are paying more than you should be.
- Save with More Vehicles Insured - Drivers who insure multiple cars or trucks on one policy can get a discount for every vehicle.
- Senior Citizen Discount - Drivers over the age of 55 are able to get a slight reduction on a Colorado Springs auto insurance quote.
- Good Grades Discount - Excelling in school can get you a discount of up to 25%. Many companies even apply the discount to college students until age 25.
- Save with a New Car - Buying a new car instead of a used Camry Hybrid is cheaper because new model year vehicles keep occupants safer.
- Military Rewards - Being deployed in the military could be rewarded with lower rates.
- Colorado Springs Homeowners Discount - Owning your own home or condo can save you money since home ownership requires a higher level of personal finance.
- Anti-theft Discount - Cars and trucks that have factory anti-theft systems are less likely to be stolen and qualify for as much as a 10% discount.
- Student in College - Youth drivers who are enrolled in higher education away from home and do not have a car may qualify for this discount.
As a disclaimer on discounts, most of the big mark downs will not be given to the entire policy premium. Most cut the cost of specific coverages such as medical payments or collision. So even though it sounds like you can get free auto insurance, insurance companies aren't that generous. Any amount of discount will help lower your policy premiums.
The chart below illustrates the comparison of Toyota Camry Hybrid car insurance rates with and without discounts applied to the policy rates. The costs are based on a female driver, no driving violations, no at-fault accidents, Colorado state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, multi-car, claim-free, multi-policy, and marriage discounts applied.
A list of companies and a selection of discounts are included below.
- State Farm offers premium reductions for passive restraint, safe vehicle, Steer Clear safe driver discount, Drive Safe & Save, student away at school, and multiple autos.
- American Family policyholders can earn discounts including TimeAway discount, mySafetyValet, good driver, accident-free, and air bags.
- GEICO discounts include military active duty, multi-vehicle, defensive driver, anti-theft, federal employee, and multi-policy.
- 21st Century may include discounts for early bird, 55 and older, theft prevention, good student, air bags, and driver training.
- Progressive offers discounts for online quote discount, multi-policy, homeowner, good student, and online signing.
When comparing rates, check with every company which discounts you may be entitled to. A few discounts might not be available to policyholders in your state.
Buying auto insurance from Colorado Springs insurance agencies
A lot of people prefer to talk to an insurance agent and we recommend doing that The best thing about getting free rate quotes online is you can get better rates and still buy from a local agent.
To make it easy to find an agent, after completing this quick form, your insurance coverage information is sent to insurance agents in Colorado Springs who will give you bids for your auto insurance coverage. You won't even need to drive around because prices are sent to the email address you provide. You can find better rates without the usual hassles of price shopping. If you wish to get a comparison quote for a specific company, feel free to go to their quote page and complete a quote there.
Picking an provider is decision based upon more than just the bottom line cost. Any good agent in Colorado Springs should know the answers to these questions.
- Are they involved in claim handling?
- What kind of financial rating does the company have?
- Is the agency active in community causes in Colorado Springs?
- Will you get a loaner vehicle if you car is being repaired?
- Are there any discounts that you might be missing?
- Will they take your side in the event of a claim?
If you want an insurance agent, there are two types of agencies and how they are distinctly different. Auto insurance agencies can be categorized as either independent agents or exclusive agents.
Agents of this type can only quote rates from one company and examples are American Family, State Farm, and Allstate. Exclusive agents cannot place coverage with different providers so you need to shop around if the rates are high. Exclusive agents receive extensive training on what they offer which aids in selling service over price.
Below is a short list of exclusive agencies in Colorado Springs that can give you comparison quotes.
American Family Insurance - Dean Skaret Agency Inc.
2340 Academy Blvd N - Colorado Springs, CO 80909 - (719) 597-4330 - View Map
Independent Auto Insurance Agents
These agents do not write with just one company and that allows them to write policies with multiple insurance companies and potentially find a lower price. If they find a cheaper price, the business is moved internally without you having to go to a different agency.
When comparison shopping, we highly recommend that you include independent agents to get the most accurate price comparison.
Listed below is a list of independent agents in Colorado Springs that can give you rate quotes.
Don't give up on cheap premiums
While you're price shopping online, it's very important that you do not skimp on coverage in order to save money. In many instances, consumers will sacrifice uninsured motorist or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your objective should be to buy enough coverage at the lowest possible cost, but do not sacrifice coverage to save money.
We've covered many tips how you can find cheaper Toyota Camry Hybrid insurance in Colorado Springs. The key thing to remember is the more rate comparisons you have, the better likelihood of getting affordable Toyota Camry Hybrid insurance quotes. Consumers may even find the lowest priced car insurance comes from an unexpected company. They may often insure only within specific states and give better rates compared to the large companies like State Farm and Allstate.
Steps to buying cheaper Toyota Camry Hybrid insurance in Colorado Springs
To save the most money, the best way to get the cheapest Toyota Camry Hybrid insurance is to compare quotes once a year from providers that sell auto insurance in Colorado Springs. This can be done by completing these steps.
First, take a little time to learn about what is in your policy and the things you can control to keep rates low. Many rating criteria that cause high rates like traffic tickets, fender benders, and a substandard credit score can be eliminated by paying attention to minor details.
Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only quote rates from a single company like GEICO and Allstate, while agents who are independent can give you price quotes from multiple sources.
Third, compare the quotes to your existing policy and determine if cheaper Camry Hybrid coverage is available. If you find a lower rate quote and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, notify your agent or company to cancel your current policy. Submit payment and a signed application to your new carrier. As soon as you have the new policy, place your new certificate verifying proof of insurance in your glove compartment.
A good tip to remember is to use identical coverage information on every quote request and and to compare as many carriers as you can. Doing this ensures a fair rate comparison and the best price selection.
Additional information is located on the following sites:
- Young Drivers: The High Risk Years Video (iihs.org)
- Who Has Affordable Auto Insurance Rates for Unemployed Drivers in Colorado Springs? (FAQ)
- Who Has the Cheapest Colorado Springs Car Insurance Rates for a 20 Year Old Male? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for a Jeep Wrangler in Colorado Springs? (FAQ)
- How Much is Auto Insurance for Postal Workers in Colorado Springs? (FAQ)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Warning systems don't curb driver distraction (Insurance Institute for Highway Safety)
- Child Safety Seats (Insurance Information Institute)