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Cheapest 2008 Toyota Yaris Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 4, 2023

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Searching for lower insurance rates for your Toyota Yaris? Overwhelmed by the dozens of insurance options? Many other drivers are as well. People have so many options available that it can turn into a real hassle to find the best price.

Cut prices on Toyota Yaris insurance

The cost of insuring your cars can be expensive, but there could be available discounts to reduce the price significantly. Certain discounts will be triggered automatically at the time of quoting, but lesser-known reductions have to be inquired about before you will receive the discount.

  • Sign Early and Save – Some companies give discounts for signing up before your current expiration date. It can save you around 10%.
  • Memberships – Participating in a professional or civic organization could trigger savings on your policy for Yaris coverage.
  • One Accident Forgiven – Certain companies will forgive one accident without raising rates as long as you don’t have any claims prior to the accident.
  • Lower Rates for Military – Having a family member in the military could mean lower rates.
  • Paperless Signup – Certain companies will give a small break for buying your policy on their website.
  • Anti-lock Brakes – Vehicles with anti-lock braking systems are safer to drive and therefore earn up to a 10% discount.
  • Payment Discounts – If you pay your entire premium ahead of time instead of making monthly payments you could save up to 5%.
  • Government Employees – Being employed by or retired from a federal job could cut as much as 10% off for Yaris coverage depending on your company.
  • Save over 55 – Older drivers may receive a discount up to 10% for Yaris coverage.

Drivers should understand that most credits do not apply to the entire policy premium. Most only cut individual premiums such as physical damage coverage or medical payments. So despite the fact that it appears all those discounts means the company will pay you, it doesn’t quite work that way. Any qualifying discounts will bring down the amount you have to pay.

To see a list of insurance companies with discount insurance rates, follow this link.

Tailor your coverage to you

When it comes to choosing proper insurance coverage for your personal vehicles, there isn’t really a one size fits all plan. Coverage needs to be tailored to your specific needs.

For example, these questions might point out if your situation would benefit from an agent’s advice.

  • Am I covered when driving someone else’s vehicle?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Which companies will insure high-risk drivers?
  • When should I remove comp and collision on my 2008 Toyota Yaris?
  • When would I need rental car insurance?
  • Is my nanny covered when driving my vehicle?

If you can’t answer these questions, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form.

Detailed coverages of your insurance policy

Having a good grasp of your insurance policy aids in choosing which coverages you need for your vehicles. Insurance terms can be ambiguous and coverage can change by endorsement.

Liability insurance – Liability coverage can cover damage that occurs to other’s property or people. This insurance protects YOU from claims by other people, and doesn’t cover 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. As an example, you may have policy limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Another option is a combined limit which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage protects against things like repair costs for stationary objects, attorney fees and repair bills for other people’s vehicles. How much coverage you buy is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision coverages – Collision coverage pays for damage to your Yaris from colliding with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as hitting a mailbox, rolling your car, hitting a parking meter and colliding with a tree. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to increase the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Toyota Yaris.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Usually your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Comprehensive coverage – Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as hitting a bird, falling objects, a broken windshield and hail damage. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical payments coverage and PIP – Coverage for medical payments and/or PIP reimburse you for bills for things like dental work, hospital visits and chiropractic care. They can be used to fill the gap from your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible

Save your cold hard cash

The cheapest 2008 Toyota Yaris insurance is available both online and also from your neighborhood agents, and you should be comparing both to have the best chance of lowering rates. A few companies may not provide you the ability to get quotes online and these regional insurance providers work with independent agents.

In this article, we covered quite a bit of information on how to reduce insurance prices online. It’s most important to understand that the more companies you get rates for, the higher the chance of saving money. You may be surprised to find that the lowest rates come from a smaller regional carrier.

As you restructure your insurance plan, it’s a bad idea to buy poor coverage just to save money. There have been many situations where an accident victim reduced physical damage coverage to discover at claim time they didn’t purchase enough coverage. Your goal should be to find the BEST coverage for the lowest price, not the least amount of coverage.

Even more information is available by following these links:

Frequently Asked Questions

How can I find the cheapest insurance coverage rates for my 2008 Toyota Yaris in 2023?

To find the cheapest insurance coverage rates for your 2008 Toyota Yaris, you can utilize online resources and comparison tools. Enter your ZIP code on a website that offers free quote comparisons to view companies that have cheap auto insurance rates. Comparing quotes from multiple insurance companies can help you find the best price. It’s important to remember that the cheapest insurance rates may come from smaller regional carriers as well, so it’s worth exploring different options.

What are some discounts available for auto insurance?

Many insurance companies offer discounts that can help lower your insurance premiums. While some discounts are automatically applied at the time of quoting, others may need to be inquired about. It’s important to note that most credits do not apply to the entire policy premium but rather to specific individual premiums such as physical damage coverage or medical payments. Some common discounts include safe driver discounts, multi-policy discounts, multi-car discounts, good student discounts, and discounts for certain safety features in your vehicle. To see a list of insurance companies with discount insurance rates, you can visit websites that provide this information.

How do I tailor my insurance coverage to my needs?

Choosing proper insurance coverage for your personal vehicles requires tailoring it to your specific needs. There isn’t a one-size-fits-all plan for everyone. To determine the coverage that suits you, consider factors such as your budget, desired level of protection, and risk tolerance. Ask yourself questions like how much liability coverage you need, whether collision coverage is necessary, and if you want uninsured/underinsured motorist coverage. Consulting with a licensed insurance agent can also provide valuable guidance and help you assess your coverage needs accurately.

What is liability insurance?

Liability insurance provides coverage for damage that occurs to other people’s property or individuals. It protects you from claims made by other people and does not cover your own injuries or vehicle damage. Liability coverage typically includes three limits: bodily injury per person, bodily injury per accident, and property damage. For example, if you have liability limits of 50/100/50, it means you have $50,000 coverage for each person’s injuries, $100,000 coverage per accident for bodily injuries, and $50,000 coverage for property damage. The specific coverage limits depend on your policy.

What is collision coverage?

Collision coverage pays for damage to your Toyota Yaris resulting from collisions with other vehicles or objects. When you have collision coverage, you pay a deductible, and your insurance company covers the remaining repair costs. Collision coverage can pay for claims such as hitting a mailbox, rolling your car, or colliding with a tree. It’s important to evaluate the cost-benefit of keeping collision coverage for vehicles that are 8 years or older, as the premium for this coverage can be significant.

What is uninsured/underinsured motorist coverage?

Uninsured/underinsured motorist coverage protects you and your vehicle when the other party in an accident does not carry enough liability coverage or has no insurance at all. This coverage can pay for hospital bills for your injuries and damage to your Toyota Yaris. It is particularly important because many drivers only carry the minimum required liability insurance, which may not be sufficient to cover all damages in an accident. Uninsured/underinsured motorist coverage is usually set at the same limits as your liability coverage.

What is comprehensive coverage?

Comprehensive coverage provides protection for your Toyota Yaris from damage caused by events other than collisions with other vehicles or objects. It covers incidents such as theft, vandalism, falling objects, hail damage, and more. With comprehensive coverage, you pay a deductible, and the insurance company covers the remaining repair costs. The maximum payout you can receive from a comprehensive claim is the actual cash value of your vehicle. It’s important to consider the value of your vehicle and the cost of comprehensive coverage when deciding whether to keep this coverage.

What is medical payments coverage and PIP?

Medical payments coverage and personal injury protection (PIP) are coverages that can help with medical expenses resulting from an accident. They can cover costs such as dental work, hospital visits, and chiropractic care. Medical payments coverage and PIP can be used to fill gaps in your health insurance coverage or to cover expenses if you don’t have health insurance at all. It’s important to note that PIP coverage is not universally available and its availability and coverage may vary by state. Some states may also require a deductible for PIP coverage.

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