Compare 2002 Toyota Camry Car Insurance Rates

Have you fallen victim to an underperforming, overpriced insurance coverage policy? Trust us, you’re not alone. You have multiple insurers to buy insurance from, and although it’s a good thing to have a choice, it makes it harder to locate the cheapest rates.

You need to check insurance coverage prices occasionally since rates tend to go up over time. Despite the fact that you may have had the best rates on Camry insurance on your last policy the chances are good that you can find a lower rate today. There is a lot of bad advice regarding insurance coverage on the web, but I’m going to show you some great ways to save money.

Toyota Camry rate determination is complex

It’s important that you understand the rating factors that come into play when calculating your insurance rates. Having a good understanding of what impacts premium levels helps enable you to make changes that may reward you with better insurance rates.

The list below includes a few of the “ingredients” that factor into rates.

  • Your occupation can affect rates – Did you know your insurance rates can be affected by your occupation? Careers like lawyers, architects and stock brokers tend to pay the highest rates attributed to high stress and long work hours. On the other hand, jobs such as scientists, students and homemakers have the lowest average rates on Camry insurance.
  • Big city or small town – Being located in small towns and rural areas can save you money when buying insurance. City drivers tend to have traffic congestion and much longer commute distances. Fewer people means fewer accidents.
  • Don’t skimp on liability – Liability coverage will protect you if ever you are found to be at fault for damages from an accident. Liability provides legal defense starting from day one. This coverage is very inexpensive when compared with rates for comp and collision, so drivers should carry high limits.
  • Higher safety ratings means cheaper insurance – Cars with high safety ratings tend to have better insurance rates. These vehicles protect occupants better and better occupant protection translates into savings for insurance companies and more competitive rates for policyholders. If your Toyota Camry has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
  • Women pay lower rates – Statistics have proven that men are more aggressive behind the wheel. However, this does not mean women are better drivers. They both are in accidents at about the same rate, but the men have costlier accidents. Men also statistically get more serious tickets such as reckless driving. Young males are the most expensive to insure and thus pay the highest rates.

Low Cost Insurance

There are a lot of ways to compare insurance quotes, but one way is less labor-intensive and much quicker. You can waste hours driving to insurance companies in your area, or you can stay home and use online quoting to get prices fast.

Most major companies participate in a marketplace that allows shoppers to submit one quote, and at least one company can give them a price based on that data. This eliminates the need for quotation requests to every company.

To enter your information into the quoting system, click to open in new window.

The single downside to using this type of system is you can’t choose which providers you will receive quotes from. So if you prefer to choose from a list of companies for rate comparison, we put together a list of low cost insurance companies in your area. Click here for list of insurance companies.

It’s your choice how you get your quotes, but make darn sure you compare the exact same coverages with every price quote. If you have differing limits it’s impossible to find the best deal for your Toyota Camry.

Ads can be misleading

Drivers get pounded daily by advertisements for car insurance savings by companies like Allstate, Geico and Progressive. All the companies have a common claim of big savings if you move to them.

But how can every company say the same thing? It’s all in the numbers.

All the different companies are able to cherry pick for the right customer that is profitable for them. An example of a desirable insured might be over the age of 50, has no prior claims, and drives less than 10,000 miles a year. A customer who fits that profile will qualify for the lowest rates and most likely will save a lot of money.

Drivers who don’t meet the requirements will have to pay more money which leads to business going elsewhere. The ad wording is “customers who switch” not “everybody who quotes” save that kind of money. That’s the way companies can truthfully make those claims. Because of the profiling, it’s extremely important to get as many comparisons as possible. It’s just too difficult to predict the company that will have the lowest Toyota Camry insurance rates.

Best discounts on Toyota Camry coverage

Companies do not list every discount in an easy-to-find place, so the following is a list of some of the best known and the more hidden discounts you could be receiving. If they aren’t giving you every credit available, you’re just leaving money on the table.

  • Bundle and Save – If you have multiple policies with one insurance company you may earn at least 10% off all policies.
  • Save over 55 – Older drivers may receive reduced rates on Camry insurance.
  • Resident Student – Any of your kids who are attending college and do not have access to a covered vehicle can be insured at a reduced rate.
  • Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can avoid accidents and qualify for as much as a 10% discount.
  • No Accidents – Drivers with accident-free driving histories pay less compared to frequent claim filers.
  • Memberships – Belonging to a civic or occupational organization could trigger savings when buying auto insurance on Camry insurance.
  • Use Seat Belts – Using a seat belt and requiring all passengers to wear their seat belts can save up to 15% off your medical payments premium.

As a disclaimer on discounts, most of the big mark downs will not be given to the entire policy premium. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So even though they make it sound like you would end up receiving a 100% discount, it doesn’t quite work that way.

A partial list of companies that may have these money-saving discounts include:

Check with each company how you can save money. All car insurance discounts might not be offered in your area.

Tailor your coverage to you

When choosing adequate coverage for your vehicles, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs so this has to be addressed. These are some specific questions may help highlight if your situation may require specific advice.

  • Should I file a claim if it’s only slightly more than my deductible?
  • Why do I need rental car insurance?
  • Why is insurance for a teen driver so high?
  • What are the financial responsibility laws in my state?
  • How much liability insurance is required?
  • Do I pay less for low miles?
  • Is my 2002 Toyota Camry covered for smoke damage?
  • Do I need higher collision deductibles?
  • Is there coverage for injuries to my pets?

If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to an agent. To find lower rates from a local agent, complete this form or click here for a list of insurance coverage companies in your area. It only takes a few minutes and can help protect your family.

Car insurance coverages 101

Learning about specific coverages of a car insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Listed below are the usual coverages offered by car insurance companies.

UM/UIM Coverage

This coverage provides protection when other motorists either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Coverage for collisions

This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims such as crashing into a ditch, colliding with a tree, hitting a parking meter, scraping a guard rail and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. You can also raise the deductible to get cheaper collision coverage.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills like surgery, hospital visits, doctor visits, funeral costs and pain medications. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Liability

Liability coverage will cover damages or injuries you inflict on other’s property or people. This insurance protects YOU against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.

Liability can pay for things such as emergency aid, repair bills for other people’s vehicles, structural damage, medical services and pain and suffering. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive or Other Than Collision

Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as vandalism, falling objects, rock chips in glass, damage from a tornado or hurricane and hitting a deer. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

In the end, you save

When you buy insurance online, make sure you don’t buy less coverage just to save a little money. In many instances, someone sacrificed comprehensive coverage or liability limits only to regret that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to purchase a proper amount of coverage for the lowest price.

Discount 2002 Toyota Camry insurance is attainable from both online companies in addition to many insurance agents, and you should be comparing both in order to have the best price selection to choose from. Some insurance companies do not provide online quoting and most of the time these small insurance companies sell through independent agents.

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