2021 Toyota Prius Insurance Rates in 2024

Feel like you’re a prisoner to an overpriced insurance policy? You’re in good company because many drivers feel the same as you. Numerous auto insurance companies battle for your business, and because of this it can be hard to compare car insurance companies to get the best rates possible.

If you have a policy now or are just looking to switch companies, you can use these tips to get lower rates while maintaining coverages. Choosing the best insurance company for you is easy if you know what you’re doing. Vehicle owners only need to know the proper methods to shop their coverage around online.

How to lower your insurance coverage cost

Getting a cheaper price on 2021 Toyota Prius insurance isn’t really that difficult. Just spend a few minutes comparing free insurance quotes online with multiple companies. You can get a good selection of rate quotes using one of these methods.

The most efficient way to compare a lot of rates at once is to use a rate comparison form. This style of form prevents you from having to do repetitive form submissions for every prospective company. Completing one form will return price quotes direct from many companies.

Another way to get quotes online is going to the website of each company to complete their respective quote request forms. For examples sake, we’ll pretend you are doing a rate comparison from Liberty Mutual, Safeco and GMAC. You would be required to go to each individual site and punch in your information repeatedly, which explains why we recommend starting with the first method.

The least efficient way to find lower rates is going to each insurance agency near you. The ability to get quotes online has made agencies unnecessary unless you’re the type of person who wants the trained advice of a local agency. If you prefer, some companies allow you to get prices online but purchase the actual policy in an agency.

The approach you take is up to you, just make absolute certain that you use the same quote information for each price quote. If you are comparing different deductibles you will not be able to truly determine the lowest rate.

Be skeptical of insurance ads

Drivers can’t ignore all the ads for cheaper insurance by companies like Allstate, GEICO and Progressive. They all seem to try to convey promises about savings after switching your insurance policy to them.

How does every insurance company save you money? This is the way they can do it.

Insurance companies give the cheapest rates for the type of driver that will generate a profit. A good example of this type of risk profile might have to be over the age of 50, has no claims, and drives a safe vehicle. A prospective insured that meets those criteria will get very good premium rates and will most likely pay quite a bit less when switching companies.

Insureds who fall short of the “perfect” profile may be forced to pay more expensive rates and ends up with business not being written. If you listen to the ad wording, they say “people that switch” but not “all drivers who get quotes” save money. That is how insurance companies can confidently make claims like that.

Because each company has a different risk profile, you really need to get insurance quotes as often as possible. It’s not possible to predict with any certainty which company will have the best prices.

How insurance companies determine Toyota Prius insurance rates

Part of the insurance buying process is learning some of the elements that help calculate the rates you pay for insurance. If you understand what controls the rates you pay, this enables you to make decisions that will entitle you to lower premium levels. Many different elements are part of the calculation when you quote your car insurance policy. Some are pretty understandable like your driving record, but other factors are not as apparent like your vehicle usage or your vehicle rating.

• Theft deterrents save – Selecting a car model that has an advanced theft prevention system can save you some money. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop auto theft.
• Miles driven impacts prices – The higher the mileage driven every year the higher your rate. The majority of insurers rate vehicles based on how the vehicle is used. Vehicles that have low annual miles get more affordable rates than those that get driven frequently. Ask your agent if your declarations sheet reflects the proper vehicle usage. Having the wrong rating on your Prius can result in significantly higher rates.
• Limits of liability – Your insurance policy’s liability coverage kicks in when you are found to be at fault for an accident. This coverage provides for a legal defense starting from day one. This coverage is relatively inexpensive compared to comp and collision, so insureds should have plenty of protection for their assets.
• Extra coverages could be costing you – Insurance policies have a lot of extra bells and whistles that can add up if you don’t pay attention. Insurance for replacement cost coverage, accidental death, and Farm Bureau memberships are examples of these. These coverages may sound good at first, but if they’re wasting money eliminate them to save money.

Pay discount rates with these discounts

Auto insurance companies do not advertise every available discount very well, so the following is a list of a few of the more common in addition to some of the lesser obvious savings tricks you should be using when you buy insurance online.

• Discounts for Federal Employees – Simply working for the federal government could qualify for a slight premium decrease for Prius insurance with a few insurance companies.
• Active Military Service – Being deployed with a military unit may lower your premium rates slightly.
• Safety Restraint Discount – Drivers who require all occupants to wear their seat belts can save up to 15% off PIP or medical payments premium.
• Accident-Free Discounts – Drivers who don’t have accidents can save substantially in comparison with drivers with a long claim history.
• Accident Forgiveness – This one isn’t a discount, but a few companies such as State Farm and Allstate allow you one accident before raising your premiums if you are claim-free for a specific time period.
• Professional Memberships – Being in qualifying clubs or civic groups is a good way to get lower rates on insurance.

Keep in mind that many deductions do not apply to the entire cost. Some only reduce the price of certain insurance coverages like liability, collision or medical payments. Despite the fact that it seems like all those discounts means the company will pay you, insurance companies wouldn’t stay in business. But any discount should help lower the amount you pay for coverage.

If you would like to view insurance companies that provide some of the discounts listed above, enter your zip code here.

Your situation helps dictate your coverage

When choosing coverage for your vehicles, there really is no cookie cutter policy. Everyone’s situation is a little different so your insurance needs to address that. These are some specific questions could help you determine whether or not you would benefit from an agent’s advice.

• Do I pay less for low miles?
• Do I need an umbrella policy?
• Does insurance cover damages from a DUI accident?
• How much liability insurance is required?
• Am I covered if I break a side mirror?
• What can I do if my company denied a claim?
• What is the ISO rating for a 2021 Toyota Prius?
• Is my nanny covered when driving my vehicle?
• What is roadside assistance coverage?

If you’re not sure about those questions but one or more may apply to you, you may need to chat with a licensed agent. To find an agent in your area, simply complete your zip code. It is quick, free and can provide invaluable advice.

Specifics of your insurance policy

Understanding the coverages of your insurance policy can be of help when determining which coverages you need for your vehicles. The terms used in a policy can be confusing and coverage can change by endorsement. Shown next are the normal coverages found on most insurance policies.

Coverage for liability – This coverage will cover injuries or damage you cause to people or other property by causing an accident. This insurance protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged property. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for claims such as bail bonds, structural damage, loss of income, medical services and court costs. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase higher limits if possible.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage provides protection from other motorists when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries and damage to your Toyota Prius.

Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses such as surgery, doctor visits and rehabilitation expenses. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Collision coverage – This pays to fix your vehicle from damage resulting from a collision with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like rolling your car, backing into a parked car and crashing into a building. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. Another option is to bump up the deductible in order to get cheaper collision rates.

Comprehensive coverage – Comprehensive insurance coverage covers damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like fire damage, hitting a deer, hail damage, hitting a bird and falling objects. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Find Good Coverage for Less

Throughout this article, we presented a lot of information how to get a better price on 2021 Toyota Prius insurance. The key concept to understand is the more companies you get car insurance rates for, the higher your chance of finding the cheapest insurance. You may even find the lowest rates are with the smaller companies. Smaller companies often have lower car insurance rates on specific markets as compared to the big name companies such as GEICO and State Farm.

When buying insurance coverage, don’t be tempted to skimp on coverage in order to save money. In many instances, someone dropped full coverage and discovered at claim time that the savings was not a smart move. The aim is to buy enough coverage at the best possible price and still be able to protect your assets.