2014 Toyota Camry Insurance Rates – 8 Savings Tips
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UPDATED: Aug 23, 2022
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Paying for high-priced Toyota Camry insurance can dwindle your personal savings and force you to make sacrifices. Comparing price quotes is free, only takes a few minutes, and is a good way to tighten up your finances. Popular companies such as State Farm, GEICO and Farmers Insurance continually bombard you with fancy advertisements and consumers find it hard to avoid their marketing magic and do the work needed to find the best deal.
If you have a current auto insurance policy or are looking for a new policy, you can follow these tips to shop for the lowest rates while maintaining coverages. Finding the best rates is quite easy. Consumers just need to understand the best way to compare rates over the internet.
How to Get Auto Insurance
All major auto insurance companies such as State Farm and Allstate give prices for coverage on their websites. Getting online rates doesn’t take a lot of time as you just enter your required coverages as requested by the quote form. When complete, the system obtains your credit score and driving record and returns a price based on these factors. Being able to quote online helps simplify price comparisons, but the time it takes to visit different websites and complete many quote forms can be a bit tiresome and repetitive. Unfortunately, it is important to compare as many rates as possible in order to find better auto insurance pricing.
The easy way to compare rates
A quicker way to find lower prices uses one simple form that gets price quotes from many companies. It’s a real time-saver, requires less work, and makes online shopping much more enjoyable and efficient. As soon as you send your information, your coverage is rated and you are able to buy any or none of the resulting price quotes.
If you find a better price you simply finish the application and buy the new coverage. The entire process takes just a few minutes to complete and may result in a nice savings.
To save time and fill out one form to compare multiple rates now, click here to open in a new tab and submit your coverage information. If you currently have coverage, we recommend that you enter the coverages exactly as they are listed on your policy. Using the same limits helps guarantee you will receive comparison quotes using the same coverage and limits.
Is there truth in advertising?
Consumers can’t get away from ads that promise big savings from the likes of State Farm and Allstate. They all make the same claim about savings if you move your coverage to them.
How can each company make almost identical claims? It’s all in the numbers.
All the different companies can use profiling for the type of driver that makes them money. For instance, a desirable insured could be between the ages of 30 and 50, has no prior claims, and chooses high deductibles. A customer getting a price quote that hits that “sweet spot” will get very good rates and therefore will save when they switch companies.
Potential insureds who are not a match for the “perfect” profile will be quoted a more expensive rate and ends up with the customer not buying. The ads state “people who switch” not “everybody who quotes” save money. That’s why insurance companies can confidently make those claims.
This emphasizes why drivers must quote coverage with many companies. You cannot predict which company will fit your personal profile best.
Be sure to get all your discounts
The cost of insuring your cars can be expensive, but discounts can save money and there are some available to help offset the cost. Some discounts apply automatically at quote time, but a few must be inquired about before you get the savings. If you don’t get every credit available, you’re just leaving money on the table.
- Early Signing – Some insurance companies reward drivers for buying a policy before your current policy expires. This can save 10% or more.
- Bundle and Save – When you combine your home and auto insurance with one insurance company you may save approximately 10% to 15%.
- Safety Course Discount – Completing a defensive driving course can save you 5% or more if your company offers it.
- Anti-lock Brakes – Cars that have steering control and anti-lock brakes can avoid accidents and therefore earn up to a 10% discount.
- College Student – Any of your kids who live away from home and don’t have a car can be insured at a reduced rate.
- Use Seat Belts – Using a seat belt and requiring all passengers to wear their seat belts could save 15% off your PIP or medical payments premium.
- Paperless Signup – A few companies will give a small break just for signing your application digitally online.
- Multiple Cars – Having all your vehicles on the same auto insurance policy qualifies for this discount.
A little note about advertised discounts, most of the big mark downs will not be given to the entire cost. Most only cut specific coverage prices like comp or med pay. So even though it sounds like you can get free auto insurance, companies don’t profit that way. But any discount will bring down your premiums.
How do I know if I need professional advice?
When buying adequate coverage, there isn’t really a perfect coverage plan. Everyone’s situation is a little different so this has to be addressed. Here are some questions about coverages that might point out if you will benefit from professional help.
- What happens if I owe more than my 2014 Toyota Camry is worth?
- Should I buy full coverage?
- When do I need to add a new car to my policy?
- How does medical payments coverage work?
- Am I covered if I hit a deer?
- Does insurance cover damages from a DUI accident?
- Can I get a multi-policy discount for packaging my home and auto coverage?
- Will my rates increase for filing one claim?
- Does insurance cover tools stolen from my truck?
- Does coverage extend to Mexico or Canada?
If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, doesn’t cost anything and may give you better protection.
Auto insurance coverage options for a Toyota Camry
Knowing the specifics of your policy helps when choosing the best coverages and the correct deductibles and limits. Policy terminology can be difficult to understand and reading a policy is terribly boring. Below you’ll find typical coverages offered by auto insurance companies.
Medical costs insurance
Med pay and PIP coverage kick in for short-term medical expenses like prosthetic devices, hospital visits and surgery. They are used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Comprehensive or Other Than Collision
Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive insurance covers things like damage from getting keyed, falling objects, a broken windshield and vandalism. The highest amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Collision insurance covers damage to your Camry resulting from colliding with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision insurance covers things like hitting a mailbox, hitting a parking meter and crashing into a building. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. You can also increase the deductible to get cheaper collision coverage.
Coverage for liability
This coverage will cover damage or injury you incur to other people or property. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit without having the split limit caps.
Liability insurance covers claims like bail bonds, attorney fees and repair costs for stationary objects. The amount of liability coverage you purchase is a personal decision, but you should buy as high a limit as you can afford.
Your UM/UIM coverage gives you protection when the “other guys” either have no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your Toyota Camry.
Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these coverages do not exceed the liability coverage limits.
Have the Midas touch
We just covered quite a bit of information on how to save on 2014 Toyota Camry insurance. The most important thing to understand is the more price quotes you have, the higher your chance of finding lower rates. You may even discover the lowest rates come from a small mutual company. Regional companies may have significantly lower rates on certain market segments than their larger competitors like Progressive or GEICO.
Affordable insurance can be found from both online companies in addition to many insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some companies do not provide online quoting and usually these regional insurance providers provide coverage only through local independent agents.
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