A recent NerdWallet.com study revealed that over 70% of consumers have remained with the same auto insurance company for over three years, and approximately 38% of consumers have never compared rates to find cheaper insurance. American drivers could save an average of almost 47% each year just by getting comparison quotes, but most tend to underestimate the amount of savings they would get if they switched.
If you want to find the absolute lowest rates, then the best way to find discount Toyota Prius insurance is to regularly compare quotes from insurers in Toledo. Drivers can shop around by following these guidelines.
- Learn about what is in your policy and the measures you can control to keep rates in check. Many factors that result in higher prices such as speeding tickets, careless driving and poor credit history can be improved by making minor changes in your lifestyle. Later in this article we will cover information to lower rates and find missing discounts.
- Quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from one company like GEICO or Farmers Insurance, while independent agencies can provide price quotes from many different companies.
- Compare the quotes to your current policy to determine if you can save on Prius insurance in Toledo. If you find a lower rate quote and make a switch, make sure there is no lapse in coverage.
- Provide notification to your current agent or company to cancel your current policy and submit the application along with any required down payment to the new insurer. Immediately keep your new proof of insurance paperwork along with your vehicle registration.
The key thing to know about shopping around is to make sure you enter similar coverage information on each quote request and and to get rate quotes from as many different companies as possible. Doing this guarantees an apples-to-apples comparison and a complete rate analysis.
Finding the cheapest auto insurance coverage in Toledo is really quite simple as long as you have a good starting point. If you’re already insured, you will surely be able to cut your premiums using the techniques covered below. Comparison shoppers just need to know the proper methods to compare company rates instantly.
Cheaper rates on Toyota Prius insurance in Toledo with these discounts
Companies do not advertise all discounts in a way that’s easy to find, so the following is a list of some of the best known and also the lesser-known credits that you can use to lower your rates.
- Multi-Vehicle Discounts – Drivers who insure multiple cars or trucks on a single policy can get a discount on all vehicles.
- Senior Citizens – If you’re over the age of 55, you could receive better auto insurance rates.
- Discount for Life Insurance – Larger companies have a small discount if you purchase a life policy as well.
- Military Deployment Discount – Having a deployed family member could trigger a small discount.
- Auto/Home Discount – If you can combine your home and auto policy and insure them with the same company you may earn approximately 10% to 15%.
Discounts save money, but please remember that some of the credits will not apply to the entire cost. The majority will only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So when it seems like having all the discounts means you get insurance for free, that’s just not realistic.
The chart below shows the difference between Toyota Prius insurance premiums with and without discounts applied to the policy rates. The rates are based on a female driver, no driving violations, no at-fault accidents, Ohio state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, homeowner, multi-policy, safe-driver, and claim-free discounts applied.
Some of the larger companies that may offer policyholders most of the discounts above may include but are not limited to:
Before you buy a policy, ask all the companies which discounts you qualify for. All car insurance discounts may not be available in Toledo. To see companies that can offer you the previously mentioned discounts in Ohio, click here.
The following companies offer price quotes in Toledo, OH. If your goal is to find cheap auto insurance in Toledo, it’s a good idea that you compare several of them to get the best price comparison.
Toyota Prius insurance coverage information
The information shown below highlights different insurance costs for Toyota Prius models. Having knowledge of how auto insurance prices are formulated helps drivers make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Prius | $170 | $292 | $182 | $10 | $54 | $708 | $59 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Prices do not factor in your specific Toledo location which can decrease or increase rates significantly.
Should you raise deductibles?
When buying insurance, a common question is how high should the physical damage deductibles be. The comparison tables below determine the costs and benefits between low and high policy deductibles. The first rate table uses a $250 deductible for comp and collision and the second set of rates uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Prius | $198 | $296 | $192 | $12 | $58 | $781 | $65 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Prius | $122 | $186 | $192 | $12 | $58 | $570 | $48 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Price information does not factor in vehicle location which can increase or decrease coverage rates significantly.
Based on the above data, using a $250 deductible costs roughly $17 more each month or $204 each year than quoting the higher $1,000 deductible. Since you would pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to average at least 44 months between claim filings, you would come out ahead by selecting a higher deductible. Here’s a better example of how we made this calculation.
| Average monthly premium for $250 deductibles: | $65 |
| Average monthly premium for $1,000 deductibles (subtract): | – $48 |
| Monthly savings from raising deductible: | $17 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $17 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 44 months |
One thing to be aware of is that higher deductibles results in a higher out-of-pocket expense when you have a comprehensive or collision claim. That will necessitate enough money put aside in the event you have to pay the higher deductible in order to repair your vehicle.
The illustration below demonstrates how choosing different deductibles and can raise or lower Toyota Prius premium costs for each different age group. The information is based on a married female driver, full physical damage coverage, and no discounts are applied to the premium.
Full coverage rates vs. liability-only in Toledo
The example below compares Toyota Prius insurance costs with full coverage and liability only. The premiums assume a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are factored in.
Guidelines for eliminating full coverage
There is no written rule for dropping physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Toyota Prius replacement cost is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $3,000 after paying your policy deductible. If it’s costing in excess of $300 annually to have full coverage, the it may be a good time to stop paying for full coverage.
There are some circumstances where dropping physical damage coverage is not recommended. If you haven’t paid off your loan, you have to keep full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not buy liability only.
What is the best auto insurance coverage?
When it comes to proper insurance coverage for your personal vehicles, there is no single plan that fits everyone. You are unique and your auto insurance should unique, too.
These are some specific questions might help in determining if your situation might need professional guidance.
- How can I find cheaper teen driver insurance?
- Can I afford to pay high deductible claims out of pocket?
- Do I really need UM/UIM coverage?
- What should my uninsured motorist coverage limits be in Ohio?
- Am I covered if I hit a deer?
- What is the difference between comprehensive and collision coverage?
If you’re not sure about those questions, you may need to chat with an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of auto insurance companies in your area. It is quick, free and you can get the answers you need.
When to talk to an insurance agency
Many drivers still like to sit down and talk to an agent and that is just fine! Good insurance agents will help you protect your assets and give you someone to call. A good thing about comparing car insurance online is you may find cheaper rates and still have a local agent.
By using this form (opens in new window), your coverage information is immediately sent to insurance agents in Toledo that provide free Toledo auto insurance quotes for your insurance coverage. There is no reason to find an agent due to the fact that quote results will go to the email address you provide. In the event you want to quote rates from a specific car insurance provider, feel free to go to their quote page and give them your coverage information.
Finding a good insurer requires you to look at more than just the premium amount. These are some questions your agent should answer.
- What company do they have the most business with?
- Will the quote change when the policy is issued?
- How much can you save by raising your physical damage deductibles?
- Are aftermarket or OEM parts used to repair vehicles?
- Do they see any coverage gaps in your plan?
- Is there a local claims center in Toledo?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
Toledo auto insurance company ratings
Picking the right auto insurance provider can be a challenge considering how many different companies insure vehicles in Toledo. The company information in the next section may help you select which providers to look at purchasing from.
Top 10 Toledo Car Insurance Companies Ranked by Claims Service
- Progressive
- Travelers
- Liberty Mutual
- Nationwide
- USAA
- GEICO
- AAA Insurance
- Safeco Insurance
- Esurance
- The General
Top 10 Toledo Car Insurance Companies Overall
- USAA
- 21st Century
- GEICO
- Nationwide
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- Travelers
- American Family
Be persistent to save money
In this article, we covered a lot of ways to compare Toyota Prius insurance car insurance rates in Toledo. The key concept to understand is the more companies you get premium rates for, the higher your chance of finding inexpensive Toledo auto insurance quotes. You may even find the most savings is with a small mutual company. Regional companies can often provide lower premium rates in certain areas than the large multi-state companies such as GEICO and State Farm.
As you go through the steps to switch your coverage, never buy lower coverage limits just to save a few bucks. There are too many instances where an insured cut physical damage coverage and found out when filing a claim they didn’t have enough coverage. The goal is to buy a smart amount of coverage at the best cost, but don’t skip important coverages to save money.
Some companies do not offer online rate quotes and most of the time these small, regional companies sell through independent agencies. Low-cost Toyota Prius insurance in Toledo can be purchased on the web and also from your neighborhood Toledo agents, and you should be comparing both to have the best chance of lowering rates.
Additional information is available at the links below
- Frontal Crash Tests (iihs.org)
- Who Has Cheap Car Insurance Rates for Good Drivers in Toledo? (FAQ)
- Who Has Affordable Toledo Auto Insurance Rates for Drivers with Bad Credit? (FAQ)
- Who Has Cheap Auto Insurance Rates for Uninsured Drivers in Toledo? (FAQ)
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- Auto Crash Statistics (Insurance Information Institute)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)