Buying affordable car insurance for a Toyota Corolla is fairly simple, but it depends on a fairly complex equation with a lot of factors such as age of the driver, whether or not you have prior claims, and any prior driving offenses you have. Drivers in Colorado pay approximately $691 per year to insure their Corolla, but that amount is an estimate calculated based on a 50-year-old married female driver with full coverage and $1,000 deductibles.
More likely than not, you are not 50 and maybe not even a female, single instead of married, and maybe you want different deductibles. Just a very minor change in the rating criteria used to formulate rates may result in significant differences in the coverage rate.
Car insurance coverage is unique to each driver, so this is why the way we recommend to find the cheapest insurance price for your Toyota is to compare as many rates as you can.
The trim level of your vehicle will likely have an effect on the insurance rate, so the rate you pay to insure a Corolla LE trim level will be $16 less than the cost to insure the high end Corolla XRS model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Premium amounts do not factor in specific location which can alter prices considerably.
Establishing which company offers the cheapest car insurance rates for a Toyota Corolla may require a tad more effort than just quoting one company’s rates.
Every car insurance company uses different criteria to set policy rates, so let’s take a look at the lowest cost car insurance companies in Aurora. It’s important that you understand Colorado car insurance rates are impacted by many factors that may substantially change the policy premium. Simply improving your credit, increasing deductibles, or getting a speeding ticket can trigger rate changes that may make certain companies cheaper than others.
Compare Cheap Insurance Quotes for Your Corolla
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,624|
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The Hartford normally has some of the most affordable car insurance rates in Aurora at around $850 each year. This is $728 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide also are some of the more affordable Aurora, CO insurance companies.
As shown in the table above, if you buy coverage from USAA and switched to The Hartford, you might see an annual premium reduction of in the vicinity of $179. Policyholders with GEICO may save as much as $291 a year, and Nationwide customers might lower prices by up to $305 a year.
To see how much you can save, click here to get quotes or click through to the companies below.
These policy rates are averages across all types of drivers and the different vehicles they drive and do not take into consideration a specific zip code for a Toyota Corolla. So the car insurance company that has the lowest price for you may not even be in the top 21 companies shown above. That emphasizes why you need to compare as many prices as possible using your own driver information and specific vehicle type.
The diagram below highlights how deductible selection can change insurance costs when trying to find cheap insurance for a Toyota Corolla. The premium estimates are based on a single female driver, comp and collision included, and no discounts are taken into consideration.
The chart above illustrates that a 30-year-old driver could pocket $432 a year by increasing from a $100 deductible up to a $500 deductible, or save $648 by changing to a $1,000 deductible. Even younger drivers, such as the 20-year-old example, have the ability to save as much as $966 annually by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it will be necessary to have additional funds squirreled away to offset the extra out-of-pocket expense associated with higher deductibles.
Why it’s important to shop around
Colorado car insurance rates are impacted by many things that control the cost of your policy. Simply improving your credit, buying higher coverage limits, or getting a driving violation can produce rate changes resulting in some companies being cheaper than others. Not only may things change on your end, but companies change rates as needed in order to offset underwriting gains or losses. Higher than normal claim frequency or severity can result in increased rates, while profitable underwriting may result in more affordable Corolla insurance rates.
To help illustrate this point, the chart below shows the cheapest car insurance in Aurora, CO for a 35-year-old male driver with a clean driving record, no accidents, and good credit. When comparing rates based on his personal profile, The Hartford has the most affordable car insurance rates in Aurora at $1,096 each year. This is $482 less than the average policy premium paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide are also on the list of the most affordable Aurora, CO auto insurance companies.
In this example, we will give the driver from the first rate comparison a couple of claims, slightly worse credit, and a speeding ticket. Since every car insurance company has their own process to establish rates, comparing insurance quotes will most likely result in a significantly different list of the cheapest car insurance companies in Aurora as shown below.
Travelers now has the best insurance rate in Aurora, CO with State Farm, American Family, Progressive, and Amica also having competitive pricing. This example proves why drivers need to compare as many rates as possible to find the best insurance quotes for a Toyota Corolla.
Auto insurance prices can be determined by many things and change frequently, so the cheapest option two years ago may now be an over-priced policy.
How to find cheaper car insurance for a Toyota Corolla
It is possible to find better rates, and here are some of the recommended penny-pinching ideas that can help drivers buy lower-cost coverage.
- Increase your deductibles
- At-fault accidents will increase rates
- Violations and traffic tickets increase rates
- Try to pay small claims out-of-pocket
- Full coverage is expensive so only insure older vehicles for liability only
- Check for cheaper rates once a year
That final tip is particularly important, as we stressed in this article. Auto insurance rates in Aurora go up and down frequently, so don’t be afraid to change insurance companies if a cheaper price is available.
Many drivers tend to have loyalty to a certain company, but is isn’t recommended if it’s costing you a fortune every year. If you have a few minutes, compare prices and find cheaper auto insurance for a Toyota Corolla.
The Aurora, CO, insurance agents below are willing to aid you in deciding which auto insurance coverages would be the best in your situation, as some people have coverage questions and would like to have some professional guidance when comparing insurance rates for a Toyota Corolla. It can be difficult to find the cheapest rates, and insurance agents licensed in the state of Colorado can give peace of mind knowing you have enough coverage if you have a claim. To locate an Aurora auto insurance agent near you, click the button link following the list.
Sam Smith – State Farm Insurance Agent
13688 E Iliff Ave a – Aurora, CO 80014 – (720) 535-5506
Farmers Insurance – Patricia Rusho
13780 E Rice Pl #112 – Aurora, CO 80015 – (303) 317-2411
Scott Underwood State Farm Insurance
15322 E Alameda Pkwy #25 – Aurora, CO 80017 – (303) 745-3174
Denise Smith – State Farm Insurance
1278 S Chambers Rd – Aurora, CO 80017 – (303) 343-3515