Cheapest 1996 Toyota Corolla Insurance Rates in 2023
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UPDATED: May 12, 2022
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Trying to find cheaper insurance coverage rates? Buyers have lots of choices when searching for low-cost Toyota Corolla insurance. You can either spend your time struggling with agents to get rate comparisons or save time using the internet to make rate comparisons.
There are more efficient ways to buy insurance coverage so we’re going to tell you the best way to quote coverages for a new or used Toyota and locate the lowest possible price from both online companies and local agents.
It’s a great practice to get comparison quotes periodically because rates change quite often. Just because you had the lowest rates for Corolla coverage six months ago the chances are good that you can find a lower rate today. So just forget anything you know (or think you know) about insurance coverage because we’re going to show you how to use online quotes to find lower rates on insurance coverage.
If you have a policy now or need new coverage, you will benefit by learning to find the best rates while maintaining coverages. The purpose of this post is to let you in on the most effective way to quote insurance. Drivers just need to understand the most effective way to shop online.
Automobile Insurance Quotes
Reducing your 1996 Toyota Corolla insurance rates is a fairly straight forward process. All you need to do is take a few minutes to compare quotes from different insurance companies. This is very easy and can be done in just a few minutes using one of these methods.
- One of the simplest ways consumers can analyze rates is to use a rate comparison form like this one (opens in new window). This type of form keeps you from doing multiple quote forms for each company. One simple form compares rates from many national carriers. Just one form and you’re done.
- A harder way to find lower rates requires you to visit each company’s website and request a quote. For sake of this example, we’ll assume you want to compare rates from USAA, State Farm and Allstate. To find out each rate you need to go to every website and enter your information, and that’s why the first method is more popular. For a list of links to insurance companies in your area, click here.
- The hardest way to compare rates is to drive around to local insurance agencies. The ability to buy insurance online has reduced the need for local agents unless you want the personal advice of a licensed agent. However, consumers can price shop online and get advice from an agent in your area.
It doesn’t matter which method you choose, just be sure to compare identical coverage information on every quote you get. If each company quotes higher or lower deductibles it will be very difficult to find the best deal for your Toyota Corolla.
Why you might be paying too much to insure your Toyota Corolla
It’s important that you understand the different types of things that play a part in calculating your auto insurance rates. Knowing what determines base rates helps enable you to make changes that will entitle you to much lower annual insurance costs.
Shown below are a partial list of the pieces that factor into prices.
- Do you have enough liability coverage? – Liability coverage provides coverage if ever you are found liable for damages caused by your negligence. Liability insurance provides you with a defense in court starting from day one. This coverage is very inexpensive when compared with rates for comp and collision, so do not cut corners here.
- Clean credit earns discounts – Your credit rating is a big factor in determining your rates. Consumers who have high credit scores tend to be less risk to insure as compared to drivers with lower credit scores. Therefore, if your credit score can use some improvement, you could be paying less to insure your 1996 Toyota Corolla by spending a little time repairing your credit.
- Theft deterrents lower rates – Driving a car with a theft deterrent system can help lower your rates. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder auto theft.
- Discounts for multiple policies – Many insurers give discounts to insureds who consolidate policies with them in the form of a multi-policy discount. Even with this discount, you still need to shop around to confirm you are receiving the best rates possible.
- Cautious drivers pay less – Your driving record has a lot to do with how much you pay for insurance. Drivers who don’t get tickets tend to pay less for car insurance than people who have multiple driving citations. Even one moving violation can bump up the cost by twenty percent. Drivers who get severe violations like DUI or reckless driving may be required to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to drive a vehicle legally.
- Your auto insurance rates can be influenced by your job – Did you know your occupation can influence how much you pay for auto insurance? Careers like doctors, business owners and dentists have the highest average rates due to job stress and lengthy work days. Other professions such as pilots, historians and homemakers get better rates for Corolla coverage.
Discounts on Toyota Corolla insurance
The price of auto insurance can be rather high, but discounts can save money and there are some available to help bring down the price. Some discounts apply automatically when you purchase, but a few must be asked for before you will receive the discount. If you’re not getting every credit you qualify for, you’re paying more than you need to.
- New Vehicle Savings – Insuring a new car is cheaper because new vehicles have to meet stringent safety requirements.
- No Accidents – Claim-free drivers pay much less compared to bad drivers.
- Defensive Driving Course – Completing a defensive driving course could save 5% or more if your company offers it.
- Good Students Pay Less – This discount can earn a discount of 20% or more. Earning this discount can benefit you up until you turn 25.
- Early Switch Discount – Some insurance companies reward drivers for switching to them prior to your current policy expiration. It’s a savings of about 10%.
- Homeowners Discount – Simply owning a home can save you money because of the fact that having a home is proof that your finances are in order.
- Accident Forgiveness – Some insurance companies will allow you to have one accident without raising rates as long as you don’t have any claims for a certain period of time.
- Seat Belts Save more than Lives – Requiring all passengers to use a seat belt can save 10% or more off your medical payments premium.
A little note about advertised discounts, most discounts do not apply to all coverage premiums. Most only cut the price of certain insurance coverages like collision or personal injury protection. So despite the fact that it appears all the discounts add up to a free policy, car insurance companies aren’t that generous. But all discounts will cut your overall premium however.
To see a list of companies offering car insurance discounts, click this link.
Tailor your coverage to you
When buying coverage for your personal vehicles, there isn’t really a cookie cutter policy. Every situation is different.
For example, these questions could help you determine if your insurance needs would benefit from an agent’s advice.
- Does my liability insurance cover pulling a trailer or camper?
- Does my 1996 Toyota Corolla need full coverage?
- Does my policy pay for OEM or aftermarket parts?
- How much can I save by bundling my policies?
- Am I covered if my car is in a flood?
- Is there coverage for injuries to my pets?
- What is no-fault insurance?
- Why do I need rental car insurance?
- Is upholstery damage covered by car insurance?
- How much underlying liability do I need for an umbrella policy?
If you’re not sure about those questions, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, complete this form. It is quick, free and you can get the answers you need.
Auto insurance coverages
Understanding the coverages of auto insurance can be of help when determining the right coverages and the correct deductibles and limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy.
Liability auto insurance
This will cover damage or injury you incur to other’s property or people. It protects you against other people’s claims, and does not provide coverage for your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability coverage protects against claims like bail bonds, funeral expenses, structural damage and medical services. The amount of liability coverage you purchase is your choice, but consider buying higher limits if possible.
Uninsured and underinsured coverage
This provides protection from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Toyota Corolla.
Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Frequently these limits do not exceed the liability coverage limits.
Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like hail damage, damage from getting keyed, hitting a bird, theft and falling objects. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Coverage for collisions
Collision insurance covers damage to your Corolla resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers claims such as colliding with a tree, crashing into a building, crashing into a ditch, sideswiping another vehicle and hitting a parking meter. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. You can also bump up the deductible to bring the cost down.
Coverage for medical payments
Coverage for medical payments and/or PIP kick in for immediate expenses such as dental work, X-ray expenses, surgery and prosthetic devices. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. It covers you and your occupants in addition to getting struck while a pedestrian. PIP coverage is not universally available but can be used in place of medical payments coverage
Never pay more for less
As you restructure your insurance plan, do not reduce coverage to reduce premium. There are a lot of situations where someone dropped liability limits or collision coverage and learned later that it was a big mistake. The aim is to purchase plenty of coverage at the best price while still protecting your assets.
Discount 1996 Toyota Corolla insurance can be found on the web as well as from independent agents, and you should compare price quotes from both in order to have the best chance of saving money. Some companies don’t offer online price quotes and these regional insurance providers work with independent agents.
Consumers change insurance companies for any number of reasons including extreme rates for teen drivers, high prices, denial of a claim or even an unsatisfactory settlement offer. It doesn’t matter what your reason, switching insurance companies can be easier than you think.
To read more, link through to the resources below:
- Credit Impacts Car Insurance Rates (State Farm)
- Bodily Injury Coverage (Liberty Mutual)
- Distracted Driving Statistics (Insurance Information Insitute)
- Insuring a Leased Car (Insurance Information Insitute)
- Electronic Stability Control FAQ (iihs.org)
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