Buying economical car insurance for a Toyota Corolla in California depends on a very complex rating algorithm that uses multiple factors such as whether you are a homeower, what you do for a living, and any prior driving offenses you have. Drivers will pay around $1,447 per year to insure their Corolla, but that amount is an approximation using a 50-year-old single female driver with full physical damage coverage and $100 deductibles.
But there is a good chance that you aren’t exactly 50 years old or even a female, possibly married instead of single, or maybe you just want different deductibles. Just a very minor change in the rating criteria used to formulate rates can result in a large change in the cost of insurance.
Auto insurance requires individual risk assessment, so the best method for finding the most affordable coverage for your Toyota is to do the rate comparisons yourself.
The specific trim level tends to have a direct effect on the cost of coverage, so the price you will be charged to insure a Corolla LE model will cost $44 less than the price to insure the more expensive Corolla XRS model, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Prices do not factor in vehicle location which can influence coverage prices considerably.
Finding out which insurers offer the best insurance rates for a Toyota Corolla requires a tad more effort in order to find the lowest price. Each auto insurance company has a unique approach to determine rates, so we need to take a look at the insurance companies with the most affordable rates in Sacramento, CA.
Keep in mind that Sacramento, CA insurance rates are impacted by many things that can increase the price you pay for coverage. Simply having another birthday, becoming a homeowner, or getting a ticket for running a stop sign may generate price changes that can now make some companies cheaper than competitors.
Compare Cheap Insurance Quotes for Your Corolla
|Rank||Company||Cost Per Year|
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USAA offers some of the cheapest car insurance rates in Sacramento at around $1,121 each year. Wawanesa, CSAA, Century National, and Nationwide are also some of the best Sacramento, CA car insurance companies.
As shown above, if you are currently insured with Nationwide and switched to Wawanesa, you might realize annual savings of in the vicinity of $82. Drivers with 21st Century may save as much as $157 a year, and Grange policyholders might realize rate reductions of up to $266 a year.
Be aware that those premiums are averages across all types of drivers and the different vehicles they drive and do not factor in an exact location for a Toyota Corolla. So the auto insurance company that is most affordable for your situation may not even be in the top 24 companies in the list above. That underscores the importance of why you need to get rate quotes using your own specific driver information and vehicle.
Do you need full coverage?
Reducing premiums for insurance should be important to the majority of drivers, and an easy way to find cheaper insurance for a Toyota Corolla is to only buy liability insurance. The information below shows the difference between car insurance costs with liability coverage only compared to full coverage. The costs are based on no claims or driving citations, $1,000 deductibles, single status, and no policy discounts are applied.
As an average, comp and collision coverage costs an extra $2,308 per year over liability only. That touches on the question if buying full coverage is a waste of money. There is no clear-cut formula of when to exclude physical damage coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
Low rates today, overpriced tomorrow
Sacramento insurance rates are influenced by many factors which can significantly increase or decrease the cost of your policy. Getting older, adding a teenager to your policy, or getting a ticket for running a stop sign may generate price changes resulting in some rates now being affordable when they were higher priced.
Not only that, but insurance companies change rates as needed to adjust for gains or losses. An unexpected high level of claims may cause additional premium costs, while a profitable period can produce lower-priced Corolla insurance rates.
The bar chart below shows rates for the cheapest car insurance in Sacramento, CA for a 30-year-old female driver with a clean driving record, no accidents, and a good credit rating. When comparing rates based on her current situation, USAA has the best car insurance rates in Sacramento at $1,412 annually. This is $239 less than the average price paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are the remainder of the cheapest Sacramento, CA auto insurance companies.
In this next rate comparison, we will give the driver in the first chart some claims, a lower credit rating, and a blemish on her driving record. Because each company has their own unique process for determining rates in each state, analyzing rate quotes may now show a new list of the cheapest Sacramento car insurance companies as shown below.
Grange now has the lowest car insurance rate in Sacramento with Progressive, Allstate, Mercury, and GEICO completing the list. This example proves why consumers need to do a thorough rate comparison to get the cheapest auto insurance rates for a Toyota Corolla. Car insurance prices can be altered by many things and can increase or decrease at any time, so the most affordable company the last time you shopped around may now be priced much higher than other options.
If you prefer to get help from a professional when shopping around for cheaper insurance for a Toyota Corolla, the agents listed below can probably provide answers to your questions and help you determine which coverage fits your budget.
To locate a Sacramento insurance agent close to you, click the button below the list or click here to compare price quotes.
Sig Lindley – State Farm Insurance Agent
8110 Pocket Rd #201 – Sacramento, CA 95831 – (916) 428-7370
GEICO: Vincent Harris
5211 Madison Ave – Sacramento, CA 95841 – (916) 923-5050
Ron Andre – State Farm Insurance Agent
394 Florin Rd – Sacramento, CA 95831 – (916) 428-2918
Bates Insurance Agency | Auto Insurance and Homeowners Insurance and Car Insurance
2306 J St – Sacramento, CA 95816 – (916) 251-3548