Save Money on Toyota Tacoma Insurance in Laredo

A recent study showed that a large majority of car insurance policyholders have purchased from the same company for more than four years, and almost 40% of drivers have never taken the time to shop around. With the average premium in Texas being $2,680, drivers could save themselves $1,766 a year, but they don’t want to take the time to compare rates online.

The most effective way to get affordable Toyota Tacoma insurance in Laredo is to start comparing prices yearly from providers that insure vehicles in Texas.

1. Get a basic knowledge of how insurance companies determine prices and the measures you can control to keep rates low. Many factors that result in higher prices like traffic citations, accidents, and a low credit rating can be rectified by being financially responsible and driving safely.
2. Quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from a single company like GEICO and Allstate, while agents who are independent can give you price quotes from multiple sources.
3. Compare the new quotes to the premium of your current policy to see if a cheaper price is available in Laredo. If you find a better price and switch companies, ensure there is no coverage lapse between policies.
4. Notify your company or agent to cancel your current auto insurance policy. Submit a signed application and payment for your new policy. Once received, place your new certificate of insurance in an easily accessible location in your vehicle.

One thing to remember is to use the same amount of coverage on every price quote and and to compare all possible companies. Doing this guarantees the most accurate price comparison and the best price selection.

If you already have coverage or need new coverage, you can follow these tips to lower your rates without reducing coverage. This article’s intent is to tell you the most effective way to quote insurance and also save some money in the process Smart buyers only need an understanding of the least time-consuming way to shop their coverage around online.

Decisions You Make Can Impact Your Insurance Costs

Many things are taken into consideration when you get a price on insurance. Some are pretty understandable such as traffic violations, although some other factors are less obvious such as your credit history or how safe your car is.

Shown below are some of the major factors used by your company to calculate your premiums.

• How do annual miles impact prices? – The higher the miles on your Toyota annually the more you will pay for insurance. A lot of insurance companies rate vehicles based upon how much you drive. Cars and trucks not used for work or commuting receive lower rates than vehicles that are driven to work every day. It’s a smart idea to ensure your insurance declarations sheet states the correct usage. Having the wrong rating on your Tacoma is just wasting money.
• Lower premiums with continuous coverage – Allowing your coverage to lapse is a guaranteed way to bump up your insurance costs. Not only will you pay higher rates, being ticketed for driving with no insurance may result in a hefty fine and possibly a revoked license.

• Females tend to cost less – Statistics demonstrate women tend to be less risk to insure than men. That doesn’t necessarily mean that men are WORSE drivers than women. Males and females are in accidents in similar percentages, but males tend to have more serious accidents. Not only are claims higher, but men have more aggressive citations like driving under the influence (DUI).

  The diagram below illustrates the difference between Toyota Tacoma insurance costs for male and female drivers. The data assumes no violations or accidents, comp and collision included, $100 deductibles, single marital status, and no discounts are applied to the premium.

• Liability coverage is important – Liability insurance is the coverage that protects you in the event that a court rules you are at fault for damages from an accident. Your liability coverage provides for a legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so buy as much as you can afford.
• Discounts for alarms and GPS tracking – Purchasing a vehicle with advanced anti-theft systems can earn a premium discount. Advanced theft deterrents like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent your car from being stolen.
• Poor credit decisions can cost you – Having a bad credit score is a big factor in calculating your premium rate. So if your credit is not that good, you may save money insuring your Toyota Tacoma if you clean up your credit. Insureds that have high credit ratings tend to be less risk to insure than drivers who have bad credit.

• Age of drivers impacts premiums – Teenage drivers in Texas have been known to get distracted easily behind the wheel therefore insurance rates are much higher. If you’ve ever had to add a teen driver to your insurance policy can cause a big jump in price. Older people are proven to be safer behind the wheel, are lower risk to insure, and get fewer tickets.

  The following chart assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.

• Toyota Tacoma insurance loss data – Car insurance companies factor in historical loss data to calculate a price that offsets possible losses. Models that the statistics show to have a trend towards higher claim severity or frequency will have higher premium rates.

  The table below outlines the collected loss data for Toyota Tacoma vehicles. For each policy coverage type, the claim probability for all vehicles, without regard to make or model, is set at 100. Values under 100 indicate a favorable loss history, while values over 100 point to more claims or statistically larger losses.

  
  

  Insurance Loss Ratings for Toyota Tacoma Vehicles

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Toyota Tacoma Double Cab 2WD	79	109	70	77	76	92
  Toyota Tacoma Double Cab 4WD	82	104	84	64	56	77
  Toyota Tacoma Double Cab LWB 2WD	87	108	74			96
  Toyota Tacoma Double Cab LWB 4WD	84	104	88	68	57	79
  Toyota Tacoma Xtra Cab 2WD	80	105	60	86	75	96
  Toyota Tacoma Xtra Cab 4WD	71	90	77	48	51	65

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Toyota Tacoma insurance charts and tables

The coverage information displayed below showcases estimates of insurance coverage prices for Toyota Tacoma models. Having knowledge of how policy rates are established can assist in making informed purchases.

Data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Prices do not factor in garaging location in Laredo which can alter auto insurance rates noticeably.

Policy deductible comparison

One of the most common insurance questions is where should you set your physical damage deductibles. The comparisons below can help show the costs and benefits of buying low and high policy deductibles. The first rate table uses a $250 deductible and the second pricing table uses a $1,000 deductible.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Table data does not factor in specific garaging location which can modify coverage rates greatly.

We can estimate from the data above that using a $250 deductible costs an average of $27 more each month or $324 annually than opting for the higher $1,000 deductible. Since you would have to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you have at least 28 months between claims, you would save money if you choose the higher deductible.

The information below illustrates how your deductible choice and can raise or lower Toyota Tacoma insurance premiums for different age groups. The premiums assume a single female driver, full coverage, and no discounts are taken into consideration.

Difference between liability only and full coverage rates

The example below shows the comparison of Toyota Tacoma insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no accidents or driving violations, $100 deductibles, single marital status, and no other discounts are factored in.

When to stop paying for full coverage

There is no written rule to delete physical damage coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is 10% or more of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s say your Toyota Tacoma claim settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $3,000 after you pay the deductible. If you are paying more than $300 annually to have full coverage, then it might be time to consider dropping full coverage.

There are a few situations where dropping physical damage coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not drop full coverage.

Earn discounts to get lower-cost Laredo auto insurance rates

Some companies don’t always advertise every discount available in an easy-to-find place, so the following list contains both the well known as well as the least known credits that may apply to you.

• Anti-theft System – Cars equipped with anti-theft or alarm systems are stolen less frequently so companies will give you a small discount.
• Government Employee Discount – Active or retired federal employment could provide a small rate reduction depending on your auto insurance provider.
• Military Discounts – Having an actively deployed family member could qualify you for better premium rates.
• Driving Data Discount – Insureds who allow companies to study where and when they drive by using a small device installed in their vehicle like Allstate’s Drivewise might see lower rates if they exhibit good driving behavior.
• Home Ownership Discount – Just owning your own home may earn you a small savings because it shows financial diligence.
• No Claims – Claim-free drivers can save substantially when compared with drivers who are more careless.

One thing to note about discounts is that many deductions do not apply to the overall cost of the policy. Most only apply to the price of certain insurance coverages like medical payments or collision. So even though it sounds like you can get free auto insurance, companies don’t profit that way.

The information below compares Toyota Tacoma insurance costs with and without discounts applied. The rate quotes are based on a male driver, no claims or driving violations, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, homeowner, marriage, safe-driver, and multi-policy discounts applied.

Some of the insurance companies that may have some of the discounts shown above include:

• 21st Century
• Progressive
• State Farm
• Nationwide
• Esurance
• The Hartford

If you need lower rates, check with all companies you are considering how many discounts you can get. Savings may not be available in Laredo. If you would like to view providers that can offer you the previously mentioned discounts in Laredo, click here to view.

Which auto insurance company is best in Laredo?

Buying coverage from the best company can be challenging considering how many companies sell coverage in Texas. The rank data in the lists below may help you select which coverage providers you want to consider buying from.

Top 10 Laredo Car Insurance Companies by A.M. Best Rank

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Titan Insurance – A+
6. Esurance – A+
7. Progressive – A+
8. The Hartford – A+
9. Allstate – A+
10. Nationwide – A+

Top 10 Laredo Car Insurance Companies Ranked by Customer Service

1. USAA
2. Travelers
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Safeco Insurance
7. Progressive
8. State Farm
9. The Hartford
10. The General

Find affordable rates by being thorough

The cheapest Toyota Tacoma insurance in Laredo can be bought from both online companies and also from your neighborhood Laredo agents, and you need to comparison shop both to get a complete price analysis. A few companies may not have the ability to get quotes online and most of the time these regional insurance providers work with independent agencies.

Throughout this article, we presented a lot of tips how to find affordable Toyota Tacoma insurance in Laredo. The key thing to remember is the more rate quotes you have, the better likelihood of getting the cheapest Toyota Tacoma rate quotes. Consumers may even find the lowest prices come from a smaller regional carrier.

Drivers switch companies for any number of reasons including denial of a claim, extreme rates for teen drivers, high prices or delays in responding to claim requests. Regardless of your reason for switching companies, finding the right auto insurance provider is actually quite simple.

For more information, take a look at the resources below:

• Preventing Carjacking and Theft (Insurance Information Institute)
• What Insurance is Cheapest for Drivers Over Age 70 in Laredo? (FAQ)
• Who Has Cheap Car Insurance with Multiple Speeding Tickets in Laredo? (FAQ)
• Who Has Cheap Auto Insurance for Homeowners in Laredo? (FAQ)
• Who Has the Cheapest Laredo Car Insurance Rates for a 20 Year Old Male? (FAQ)
• Who Has Cheap Laredo Auto Insurance for Uber Drivers? (FAQ)
• Choosing a Car for Your Teen (State Farm)
• Airbag FAQ (iihs.org)
• Red Light Cameras (State Farm)
• If I File a Claim will My Insurance Go Up? (Insurance Information Institute)