Cheapest 2007 Toyota Yaris Insurance Rates in 2023
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UPDATED: May 11, 2022
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Want cheaper insurance coverage rates for your Toyota Yaris? If you are a novice to online insurance coverage shopping, you may be confused by the hoards of insurance coverage companies all offering big savings.
Smart consumers take time to compare rates once or twice a year since insurance rates are usually higher with each renewal. Even if you think you had the best price on Yaris coverage six months ago there may be better deals available now. So block out anything you think you know about insurance coverage because you’re going to get a crash course in one of the best ways to remove unneeded coverages and save money.
Get lower rates on Toyota Yaris insurance
Auto insurance companies don’t list all available discounts in an easy-to-find place, so here is a list both the well known and the harder-to-find savings tricks you should be using.
- One Accident Forgiven – Certain companies will allow you to have one accident before raising your premiums if your claims history is clear for a set time period.
- Defensive Driving Course – Successfully completing a defensive driving course could save 5% or more if your company offers it.
- Multi-policy Discount – When you combine your home and auto insurance with one insurance company you may earn approximately 10% to 15%.
- Discount for Good Grades – Getting good grades can earn a discount of 20% or more. This discount can apply up until you turn 25.
- Early Switch Discount – Some companies give discounts for buying a policy before your current expiration date. It’s a savings of about 10%.
- Drivers Ed for Students – Require your teen driver to complete a driver education course if offered at their school.
- Passive Restraint Discount – Vehicles with factory air bags or automatic seat belts can receive discounts up to 30%.
A little note about advertised discounts, some credits don’t apply to the entire cost. Most only reduce individual premiums such as medical payments or collision. Even though it may seem like it’s possible to get free car insurance, insurance coverage companies aren’t that generous.
To see a list of companies offering insurance coverage discounts, click here to view.
Toyota Yaris insurance rates consist of many parts
Consumers need to have an understanding of the rating factors that play a part in calculating auto insurance rates. When you know what positively or negatively determines base rates allows you to make educated decisions that can help you get better auto insurance rates.
Shown below are a partial list of the pieces companies use to determine your rates.
- Save money with special equipment – Choosing a vehicle with a theft deterrent system can help bring down rates. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart your car from being stolen.
- Adjust deductibles and save – Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, protects your Toyota from damage. Examples of covered claims would be running into the backend of another car, damage from fire, and burglary. Deductibles for physical damage are the amount of money you are required to spend out-of-pocket before your auto insurance pays a claim. The more you’re willing to pay, the bigger discount you will receive on Yaris coverage.
- Men are more aggressive – The statistics show women are more cautious behind the wheel. However, don’t assume that women are better drivers. 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 DWI and reckless driving.
- Allowing your policy to lapse raises rates – Not having insurance is illegal and auto insurance companies will penalize you for letting your coverage lapse. Not only will rates go up, but being ticketed for driving with no insurance will get you a steep fine or even jail time.You may then be required to prove you have insurance by filing a SR-22 with your state DMV.
- Don’t skimp on liability – Liability coverage is the protection in the event that you are found to be at fault for damages caused by your negligence. It will provide for a legal defense up to the limits shown on your policy. Liability is cheap when compared with rates for comp and collision, so drivers should carry high limits.
- Do you qualify for a multi-policy discount? – Some companies will award you with lower prices to insureds who have multiple policies with them, otherwise known as a multi-policy discount. Even if you’re getting this discount you may still want to compare rates to confirm you are receiving the best rates possible. Drivers may still find better rates by insuring with multiple companies.
- Safer occupants lowers premiums – Vehicles with high crash test scores are cheaper to insure. The safest vehicles result in less severe injuries and better occupant protection means lower claim amounts and lower rates for you. If your Toyota scored better than four stars on Safercar.gov you are probably receiving a discount.
Tailor your coverage to you
When it comes to choosing proper insurance coverage for your vehicles, there isn’t really a best way to insure your cars. Everyone’s situation is unique.
These are some specific questions may help highlight whether you would benefit from an agent’s advice.
- Is extra glass coverage worth it?
- Is my trailer covered?
- Do I need rental car coverage?
- What is medical payments coverage?
- Am I covered if I hit a deer?
- Does car insurance cover theft of personal property?
- Can I get a multi-policy discount?
- Will my vehicle be repaired with OEM or aftermarket parts?
If you can’t answer these questions but one or more may apply to you, you might consider talking to an agent. To find an agent in your area, take a second and complete this form.
Drivers who switch save $466 a year? Really?
Progressive, Allstate and GEICO regularly use ads on television and other media. All the companies make an identical promise that you can save if you move to them. How does each company say the same thing? This is how they do it.
All companies have a certain “appetite” for the type of driver that is profitable for them. For example, a driver they prefer could possibly be over the age of 50, owns a home, and drives less than 10,000 miles a year. A propective insured that hits that “sweet spot” gets the lowest rates and is almost guaranteed to save when switching.
Potential customers who do not match this ideal profile will be charged higher rates which leads to business not being written. The ads state “customers that switch” not “everyone that quotes” save money. This is how insurance companies can confidently make those claims. That is why drivers must get as many quotes as possible. It’s just too difficult to predict which company will give you the biggest savings on Toyota Yaris insurance.
Information about specific coverages
Knowing the specifics of your insurance policy helps when choosing which coverages you need for your vehicles. Insurance terms can be confusing and reading a policy is terribly boring.
Medical expense coverage – Coverage for medical payments and/or PIP provide coverage for short-term medical expenses like dental work, rehabilitation expenses, prosthetic devices and chiropractic care. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. They cover all vehicle occupants in addition to getting struck while a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage
Comprehensive protection – Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things such as falling objects, theft, hitting a bird and hitting a deer. The maximum amount a insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Collision – This coverage covers damage to your Yaris caused by collision with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims like backing into a parked car, damaging your car on a curb and sideswiping another vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.
Liability insurance – Liability coverage can cover damages or injuries you inflict on people or other property by causing an accident. It protects YOU against other people’s claims, and doesn’t cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property.
Liability coverage protects against things such as repair bills for other people’s vehicles, emergency aid, court costs, loss of income and funeral expenses. How much liability coverage do you need? That is your choice, but you should buy as high a limit as you can afford.
Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your Toyota Yaris.
Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.
Power to the consumer
Discount 2007 Toyota Yaris insurance is possible both online and also from your neighborhood agents, so you should be comparing quotes from both to have the best selection. Some auto insurance companies may not provide online quoting and these smaller companies work with independent agents.
Throughout this article, we presented many ideas to save on insurance. The key concept to understand is the more rate comparisons you have, the better chance you’ll have of finding lower rates. Drivers may discover the lowest rates come from the smaller companies.
When buying insurance coverage, it’s not a good idea to buy lower coverage limits just to save a few bucks. There are a lot of situations where consumers will sacrifice liability coverage limits and discovered at claim time that it was a big mistake. Your goal should be to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.
To read more, link through to these articles:
- Senior Drivers (Insurance Information Insitute)
- Vehicle Size and Weight FAQ (iihs.org)
- Top Signs Your Brakes are Giving Out (State Farm)
- Understanding your Policy (NAIC.org)
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