Cheap 2003 Toyota RAV4 Insurance Cost

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Aug 24, 2022

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Expensive car insurance can empty your bank account and put the squeeze on your family’s finances. Doing a price comparison is free and is an excellent way to slash your bill and have more diposable income. With so many choices, it can be impossible to choose the most cost effective company.

Finding affordable coverage is not that difficult. If you have car insurance now, you will be able to cut costs considerably using these tips. Drivers just need to know the proper way to get comparison quotes online.

Save with discounts on Toyota RAV4 insurance

Companies offering auto insurance don’t always publicize all available discounts very well, so here is a list some of the more common and the harder-to-find insurance coverage savings. If you don’t get every credit available, you are throwing money away.

  • Anti-lock Brake System – Anti-lock brake equipped vehicles can reduce accidents and earn discounts up to 10%.
  • Homeowners Pay Less – Being a homeowner may trigger a insurance coverage policy discount due to the fact that maintaining a home demonstrates responsibility.
  • Auto/Life Discount – Companies who offer life insurance give a break if you buy life insurance from them.
  • One Accident Forgiven – Certain companies will allow you to have one accident without raising rates if you are claim-free for a certain period of time.
  • Early Signing – Some companies give discounts for signing up prior to your current policy expiration. This can save 10% or more.
  • Multiple Vehicles – Buying insurance for multiple vehicles with the same company could earn a price break for each car.

A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. The majority will only reduce specific coverage prices like physical damage coverage or medical payments. So even though it sounds like it’s possible to get free car insurance, it just doesn’t work that way.

A partial list of companies that possibly offer these money-saving discounts may include but are not limited to:

  • 21st Century
  • State Farm
  • AAA
  • Liberty Mutual
  • Progressive

Double check with all companies you are considering what discounts are available to you. Some discounts might not be offered in your state.

Compare the Market for Insurance

All major insurance companies such as GEICO, State Farm and Progressive give price estimates online. Getting quotes is quite easy as you simply enter your coverage preferences as requested by the quote form. Once you submit the form, the system requests credit information and your driving record and quotes a price determined by many factors. Quoting online helps simplify price comparisons, but the time it takes to visit multiple sites and enter the same data into a form can get tiresome after awhile. But it is imperative to do this in order to get better insurance pricing.

A quicker way to find cheaper rates utilizes a single form that obtains quotes from several companies at one time. It saves time, eliminates repetitive work, and makes online shopping much more efficient. After sending the form, it gets priced and you can select any or none of the quotes returned. If a lower price is quoted, you can click and sign and purchase the new policy. This process can be completed in a matter of minutes and may result in a nice savings.

To find out how much you can save on insurance, click here and submit the form. If you currently have coverage, we recommend that you enter the coverages exactly as they are listed on your policy. Doing this assures you are getting an apples-to-apples comparison based on the exact same insurance coverage.

Toyota RAV4 rates are complex

Consumers need to have an understanding of the rating factors that play a part in calculating the rates you pay for insurance. Understanding what impacts premium levels allows you to make educated decisions that will entitle you to big savings.

Shown below are a partial list of the pieces companies use to determine prices.

  • Never go without insurance – Allowing your insurance policy to lapse will be a guaranteed way to bump up your insurance costs. And not only will your rates increase, getting caught without coverage will get you a hefty fine and possibly a revoked license.You may need to submit proof of financial responsibility or a SR-22 with your state department of motor vehicles.
  • Being married is a good thing – Having a wife or husband can actually save you money on your policy. Having a spouse translates into being more mature than a single person and it’s proven that being married results in fewer claims.
  • Men fork out a little more – Statistics demonstrate that women are safer drivers than men. However, don’t assume that men are WORSE drivers than women. They both tend to get into accidents at a similar rate, but the men cause more damage and cost insurance companies more money. Men also statistically have more aggressive citations such as reckless driving.
  • Car features impact rates – Purchasing a vehicle with an alarm system can get you a discount on your insurance. Theft prevention features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping car theft.
  • Traffic citations inflate rates – Your driving citation history impacts your car insurance rates tremendously. Drivers with clean records receive lower rates than bad drivers. Just one moving violation may increase your cost forty percent or more. Drivers who have serious citations such as hit and run, DWI or reckless driving convictions may need to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to continue driving.
  • Add-on coverages can add up – There are a lot of add-on coverages that can waste your money on your RAV4 policy. Things like personal injury protection, accident forgiveness and additional equipment coverage may be costing you every month. These coverages may sound good initially, but now you might not need them so remove them from your policy.
  • Drive a safer car and pay less – Cars with high safety ratings tend to have better insurance rates. Safe vehicles have better occupant injury protection and lower injury rates means lower claim amounts passed on to you as lower rates. If your Toyota RAV4 scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
  • Liability coverage is peace of mind – Liability insurance will protect you when you are found liable for damages from an accident. Liability insurance provides legal defense which can be incredibly expensive. Liability insurance is quite affordable compared to physical damage coverage, so do not cut corners here.

Tailor your coverage to you

When it comes to choosing adequate coverage, there is no best way to insure your cars. Every insured’s situation is different so this has to be addressed. Here are some questions about coverages that may help highlight if your insurance needs could use an agent’s help.

  • Does liability extend to a camper or trailer?
  • Are rock chip repairs covered?
  • Is my babysitter covered when using my vehicle?
  • What exactly is covered by my policy?
  • Does my policy cover me when driving someone else’s vehicle?
  • Am I covered if I crash into my own garage door?
  • Does my policy cover my teen driver if they drive my company car?

If you can’t answer these questions but you know they apply to you, you may need to chat with an insurance agent. To find lower rates from a local agent, complete this form. It’s fast, doesn’t cost anything and can help protect your family.

Auto insurance coverages

Knowing the specifics of your insurance policy aids in choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. These are typical coverages found on the average insurance policy.

Collision protection

This pays for damage to your RAV4 resulting from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against things like colliding with a tree, sideswiping another vehicle, hitting a parking meter and backing into a parked car. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Comprehensive insurance

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against claims such as a broken windshield, falling objects, theft and hitting a bird. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Liability auto insurance

Liability insurance can cover damage that occurs to a person or their property that is your fault. It protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 25/50/25 that translate to a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability coverage protects against things like emergency aid, court costs, structural damage, repair costs for stationary objects and medical services. The amount of liability coverage you purchase is your choice, but buy higher limits if possible.

Uninsured/Underinsured Motorist (UM/UIM)

This provides protection when the “other guys” do not carry enough liability coverage. Covered losses include hospital bills for your injuries as well as damage to your 2003 Toyota RAV4.

Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills for pain medications, chiropractic care and hospital visits. The coverages can be used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. Coverage applies to all vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Saving money is sweet as honey

Budget-conscious 2003 Toyota RAV4 insurance is available from both online companies as well as from independent agents, and you should compare price quotes from both to get a complete price analysis. There are still a few companies who don’t offer online quoting and most of the time these small, regional companies sell through independent agents.

As you prepare to switch companies, don’t be tempted to sacrifice coverage to reduce premiums. There have been many situations where consumers will sacrifice physical damage coverage only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to get the best coverage possible for the lowest price while still protecting your assets.

To learn more, link through to the resources below:

Free Auto Insurance Comparison

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