Cheapest Toyota Corolla Insurance in Aurora

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Insurance rates Toyota Corolla in AuroraThe preferred way to find affordable quotes for Toyota Corolla insurance in Aurora is to do an annual price comparison from companies in Colorado.

  • First, it will benefit you to learn about how companies price auto insurance and the changes you can make to drop your rates. Many factors that result in higher rates such as distracted driving and an unacceptable credit score can be remedied by being financially responsible and driving safely. Keep reading for instructions to help find cheaper rates and get discounts that may be available to you.
  • Second, request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only quote rates from a single company like GEICO and State Farm, while agents who are independent can provide rate quotes from multiple sources.
  • Third, compare the quotes to your existing rates and see if you can save money. If you can save some money, make sure the effective date of the new policy is the same as the expiration date of the old one.
  • Fourth, provide notification to your current company of your decision to cancel the current policy and submit a down payment along with a signed application to your new insurance company. Once received, safely store the certificate verifying coverage with the vehicle registration.

The most important part of shopping around is to use similar deductibles and liability limits on every quote request and and to compare every insurance company. This ensures a fair price comparison and the best rate selection.

Remarkably, a study showed that a large majority of consumers have purchased from the same company for a minimum of four years, and approximately 38% of consumers have never taken the time to shop around. Many consumers in America could save approximately $850 a year by just shopping around, but they mistakenly think it's difficult to do a rate comparison.

If you're already insured or are shopping for new coverage, follow these tips to save money and still have adequate protection. Buying affordable car insurance in Aurora is really quite simple as long as you have a good starting point. Drivers just need to understand the most effective way to compare rate quotes online.

Rates and other information

The premium information displayed below covers a range of prices for Toyota Corolla models. Knowing how insurance policy rates are figured is important for drivers to make smart buying decisions.

Toyota Corolla Insurance Rates in Aurora, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $290 $726 $456 $28 $136 $1,636 $136
Corolla S $290 $726 $456 $28 $136 $1,636 $136
Corolla XLE $290 $726 $456 $28 $136 $1,636 $136
Corolla XRS $328 $726 $456 $28 $136 $1,674 $140
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Price estimates do not factor in vehicle location which can affect auto insurance rates substantially.

Physical damage deductible comparison

One frequently asked question is which deductible level should you buy. The premium rates below may help to illustrate the differences in price between high and low physical damage deductibles. The first set of rates uses a $100 physical damage coverage deductible and the second set of prices uses a $1,000 deductible.

Toyota Corolla insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $302 $644 $352 $20 $106 $1,449 $121
Corolla S $302 $644 $352 $20 $106 $1,449 $121
Corolla XLE $302 $644 $352 $20 $106 $1,449 $121
Corolla XRS $342 $644 $352 $20 $106 $1,489 $124
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Toyota Corolla insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $168 $340 $352 $20 $106 $986 $82
Corolla S $168 $340 $352 $20 $106 $986 $82
Corolla XLE $168 $340 $352 $20 $106 $986 $82
Corolla XRS $190 $340 $352 $20 $106 $1,008 $84
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium costs do not factor in specific garaging location which can impact prices considerably.

Based on the figures above, using a $100 deductible will cost in the ballpark of $39 more each month or $468 annually than quoting the higher $1,000 deductible. Because you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you have at a minimum 23 months between claim filings, you would probably come out ahead if you choose a higher deductible.

How to calculate if higher deductibles make sense

Average monthly premium for $100 deductibles: $122
Average monthly premium for $1,000 deductibles (subtract): - $83
Monthly savings from raising deductible: $39
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $39
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

One big caveat is that increasing deductibles to lower your rates results in having to pay to pay more out-of-pocket when you file a claim. It will be required that you have some funds available in the event you have to pay the deductible.

How careless driving impacts Aurora auto insurance rates

The chart below highlights how traffic violations and fender-benders increase Toyota Corolla annual premium costs for each age group. The data assumes a single male driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.

How Insurance Providers Determine Toyota Corolla Insurance Rates

The best way to find cheaper insurance is to take a look at the different types of things that help determine your insurance rates. If you have a feel for what influences your rates, this helps enable you to make changes that may result in lower insurance prices. Many different elements are considered when you get a price on insurance. Some factors are common sense such as your driving record, but some are less obvious such as your marital status or your financial responsibility.

Listed below are some of the most rate-impacting factors that factor into your rate level.

  • Does insurance cost more for men? - Statistics show that men are more aggressive behind the wheel. However, this does not mean women are better drivers. Men and women are in fender benders in similar numbers, but guys get into accidents with more damage. Men also tend to receive more costly citations like reckless driving and DUI. Males from age 16 to 21 cause the most accidents and therefore have the most expensive insurance rates.

    The example below visualizes the comparison of Toyota Corolla insurance premiums for male and female drivers. The data assumes no claims or violations, comprehensive and collision coverage, $500 deductibles, drivers are not married, and no other discounts are factored in.

  • Higher premiums for specific jobs - Jobs like military generals, police officers, and stock brokers tend to have higher premiums than the average policyholder because of intense work requirements and long work days. On the flip side, jobs like professors, engineers and the unemployed receive lower rates.
  • Physical damage deductibles - Physical damage insurance, otherwise known as comp (or other than collision) and collision, insures against damage to your Toyota. Examples of covered claims would be a windshield shattered by a rock, vandalism, and damage from a fallen tree branch. Comprehensive and collision coverage deductibles are how much you are required to spend out-of-pocket if a claim is determined to be covered. The higher the amount you're willing to pay, the lower your rates will be.
  • Single drivers may pay more - Being married may earn you lower rates compared to being single. It may mean you are more mature and responsible and statistics prove being married results in fewer claims.
  • Advanced theft deterrents - Choosing a vehicle with an alarm system can help lower your rates. Anti-theft devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent auto theft.
  • Toyota Corolla statistical loss data - Companies factor in historical loss data when determining insurance rates. Vehicles that the data shows to have increased claim numbers or amounts will have a higher cost to insure. The next table illustrates the collected loss data for Toyota Corolla vehicles.

    For each coverage category, the claim amount for all vehicles averaged together is a value of 100. Percentage numbers below 100 mean the vehicle has better than average losses, while numbers above 100 point to more claims or a tendency for losses to be larger than average.

    Car Insurance Loss Data for Toyota Corolla Models
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Toyota Corolla 133 111 94 156 158 128
    BETTER
    AVERAGE
    WORSE

    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Quote. Compare. Save.

Low-cost Toyota Corolla insurance in Aurora can be found from both online companies and with local Aurora insurance agents, so you need to quote Aurora auto insurance with both in order to have the best chance of saving money. Some car insurance companies do not provide rate quotes online and many times these regional carriers prefer to sell through independent agents.

When getting Aurora auto insurance quotes online, do not reduce coverage to reduce premium. There have been many cases where someone dropped liability limits or collision coverage and learned later that they should have had better coverage. Your strategy should be to buy the best coverage you can find at the lowest possible cost and still be able to protect your assets.

Much more information about car insurance in Colorado can be found at these links: