1998 Toyota Tacoma Insurance Rates – 10 Tips to Save
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UPDATED: Dec 9, 2021
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Are you sick and tired of robbing Peter to pay Paul to buy car insurance? You are no different than most other car owners.
Numerous insurance companies battle for your business, so it’s not easy to compare every insurer to find the absolute lowest rate possible.
You should make it a habit to compare rates every six months due to the fact that insurance rates go up and down regularly. Just because you had the lowest price for Tacoma coverage last year other companies may now be cheaper. Don’t believe everything you read about car insurance online but by reading this article, you’re going to learn some proven techniques to stop overpaying for insurance.
If you are paying for car insurance now, you will most likely be able to cut costs considerably using these tips. Finding affordable coverage is not that difficult. Although consumers must know how companies sell online because it can help you find the best coverage.
Don’t miss these ten discounts
Companies don’t always publicize every discount very well, so the following is a list of both well-publicized as well as the least known discounts you could be receiving.
- Multiple Vehicles – Buying insurance for multiple vehicles on one policy qualifies for this discount.
- Discount for Swiching Early – A few companies offer discounts for switching to them prior to your current policy expiring. The savings is around 10%.
- Homeowners Discount – Simply owning a home may earn you a small savings due to the fact that maintaining a home shows financial diligence.
- Discount for Good Grades – Getting good grades can get you a discount of up to 25%. The good student discount can last until age 25.
- Lower Rates for Military – Having a deployed family member may qualify for rate reductions.
- Drive Less and Save – Fewer annual miles on your Toyota can qualify you for a substantially lower rate.
- College Student – Kids in college who attend school more than 100 miles from home and do not have a car may be able to be covered for less.
- Air Bag Discount – Cars that have air bags or motorized seat belts may earn rate discounts of 20% or more.
- Driver Safety – Taking a course in driver safety can save you 5% or more if your company offers it.
- Use Seat Belts – Buckling up and requiring all passengers to wear their seat belts could cut 10% or more off the personal injury premium cost.
Consumers should know that some credits don’t apply to the overall cost of the policy. A few only apply to specific coverage prices like collision or personal injury protection. So when it seems like all those discounts means the company will pay you, companies wouldn’t make money that way.
Insurance companies that may have some of the above discounts include:
- 21st Century
- State Farm
Double check with each insurance company which discounts they offer. Some discounts may not be available in your state.
Quick Insurance Quotes
There are a variety of methods to compare 1998 Toyota Tacoma insurance quotes, but there is one way that is easier and takes less work. You could spend the better part of a day discussing policy coverages with insurance companies in your area, or you could use online quotes to quickly compare rates.
All the larger companies participate in an industry program that enables customers to submit their information once, and each participating company then returns a price quote. This eliminates the need for form submissions to each company.
To fill out one form to compare multiple rates now click here to open in new window.
Whichever way you use, make darn sure you compare exactly the same coverages on every quote you get. If the quotes have higher or lower deductibles you will not be able to decipher which rate is best. Just a small difference in coverage limits can make a big difference in price. And when comparison shopping, comparing a large number of companies provides better odds of finding lower pricing.
When might I need help?
When choosing adequate coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Every insured’s situation is different so your insurance needs to address that. For example, these questions can help discover if you might need professional guidance.
- Are split liability limits better than a combined single limit?
- Is upholstery damage covered by car insurance?
- How do I file an SR-22 for a DUI in my state?
- I have a DUI can I still get coverage?
- When should I remove comp and collision on my 1998 Toyota Tacoma?
- Do I pay less if my vehicle is kept in my garage?
- Can my teen drive my company car?
- Is a blown tire covered by insurance?
- Am I insured when driving a different vehicle?
- Why am I required to get a high-risk car insurance policy?
Do drivers who switch really save $395 a year?
Insurance coverage companies such as Progressive, GEICO, Allstate and State Farm continually stream ads on TV and radio. They all seem to make an identical promise that you can save after switching your coverage to them. How does each company make the same claim? It’s all in the numbers.
Insurance companies have a certain “appetite” for the right customer that earns them a profit. An example of a driver they prefer could be between the ages of 40 and 55, has no driving citations, and has excellent credit. Any driver who matches those parameters will get the preferred rates and most likely will save quite a bit of money when switching.
Potential customers who do not match the requirements will have to pay more money and ends up with business not being written. Company advertisements say “people who switch” not “everybody who quotes” save money. This is how insurance companies can confidently make those claims. Because of the profiling, drivers must get quotes from several different companies. It’s just too difficult to predict which company will fit your personal profile best.
Coverages available on your policy
Knowing the specifics of a car insurance policy helps when choosing the right coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and reading a policy is terribly boring. Listed below are typical coverages offered by car insurance companies.
Comprehensive or Other Than Collision
Comprehensive insurance will pay to fix damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things such as vandalism, rock chips in glass, damage from flooding, theft and falling objects. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Liability car insurance
Liability insurance will cover damage that occurs to other’s property or people by causing an accident. This insurance protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 25/50/25 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.
Liability coverage pays for things like medical expenses, structural damage and funeral expenses. How much coverage you buy is a personal decision, but you should buy as much as you can afford.
Coverage for collisions
This coverage pays for damage to your Tacoma resulting from colliding with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like driving through your garage door, hitting a parking meter, scraping a guard rail and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to bump up the deductible in order to get cheaper collision rates.
Medical costs insurance
Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills such as prosthetic devices, hospital visits and rehabilitation expenses. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants in addition to being hit by a car walking across the street. PIP is only offered in select states and gives slightly broader coverage than med pay
This gives you protection when other motorists do not carry enough liability coverage. Covered losses include hospital bills for your injuries as well as damage to your 1998 Toyota Tacoma.
Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.
Do the work, save more money
In this article, we presented a lot of tips how to compare 1998 Toyota Tacoma insurance prices online. The key concept to understand is the more times you quote, the better chance you’ll have of finding lower rates. You may be surprised to find that the lowest premiums are with a company that doesn’t do a lot of advertising. These companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm, GEICO and Nationwide.
Lower-priced insurance can be sourced online and also from your neighborhood agents, so you should be comparing quotes from both to get a complete price analysis. Some insurance coverage companies may not provide the ability to get a quote online and these small insurance companies work with independent agents.
More detailed insurance coverage information can be found at these sites:
- Side Impact Crash Tests (iihs.org)
- Safety Tips for Teen Drivers (Insurance Information Insitute)
- Insuring a Leased Car (Insurance Information Insitute)
- Crash Avoidance Technologies FAQ (iihs.org)
- Older Driver Statistics (Insurance Information Insitute)
- Credit Impacts Car Insurance Rates (State Farm)
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