It’s safe to conclude that insurance companies don’t want you to look for a cheaper policy. People who shop around once a year are highly likely to switch companies because of the good chance of finding coverage at a more affordable price. A recent study showed that people who regularly compared price quotes saved approximately $72 a month as compared to drivers who never shopped around for lower prices.
If finding discount rates on car insurance is your goal, then learning about how to choose a company and compare coverage rates can help you succeed in saving money.
If you want to save the most money, the best way to get cheaper car insurance rates is to compare prices once a year from insurance carriers in Lincoln.
- Spend some time learning about car insurance and the changes you can make to drop your rates. Many risk factors that result in higher rates like speeding and your credit history can be eliminated by improving your driving habits or financial responsibility. Read the full article for more ideas to get lower rates and earn a bigger discount.
- Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can give quotes from a single company like GEICO and Allstate, while agents who are independent can provide rate quotes for a wide range of insurance providers.
- Compare the price quotes to the premium of your current policy and determine if there is any savings. If you find a better price and decide to switch, make sure coverage is continuous and does not lapse.
A good piece of advice is that you’ll want to compare the same liability limits and deductibles on every quote and and to analyze as many companies as possible. Doing this enables an apples-to-apples comparison and a thorough price selection.
How to find affordable Toyota Prius insurance in Lincoln
There are several ways to get quotes from many different Nebraska insurance companies. The easiest way by far to compare Toyota Prius insurance prices is to get quotes online.
Doing price comparisons online is so simple that it makes it obsolete to spend your day driving to each insurance agency near you. The fact that you can get quotes online eliminates this option unless you have a need for the trained advice of an agent trained in personal lines coverage. It is possible to find lower rates online but have your policy serviced through an agent.
It’s important to know that getting more free quotes will enable you to find a lower rate than you’re paying now. Some insurance companies are not set up to provide price estimates online, so it’s important to also get prices from them as well.
The companies shown below have been selected to offer free rate quotes in Lincoln, NE. If you want to find the best car insurance in Lincoln, it’s highly recommended you visit as many as you can in order to get a fair rate comparison.
Toyota Prius insurance analysis
The premium information shown next outlines estimates of insurance rates for Toyota Prius models. Understanding more about how car insurance prices are formulated can help drivers make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Prius | $148 | $226 | $262 | $16 | $78 | $730 | $61 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Prices do not factor in specific location information which can alter coverage prices greatly.
The example below demonstrates how deductibles and can change Toyota Prius insurance premiums for different ages of insureds. The premium estimates are based on a single female driver, comp and collision included, and no other discounts are factored in.
Drive safe and save
The example below highlights how traffic violations and at-fault accidents can drive up Toyota Prius car insurance rates for different age groups. The data assumes a married female driver, full coverage, $500 deductibles, and no other discounts are factored in.
Auto insurance premiums based on gender
The chart below shows the comparison of Toyota Prius annual premium costs for male and female drivers. The premiums assume no violations or accidents, comprehensive and collision coverage, $250 deductibles, marital status is single, and no discounts are factored in.
Toyota Prius Insurance Prices Can Be Reduced
Part of the insurance buying process is learning some of the elements that help determine the price you pay for insurance. When you understand what impacts premium levels, this allows you to make good choices that may result in lower premium levels.
- You might want pay the inexpensive insurance claims yourself – Insurance companies in Nebraska provide most affordable rates to policyholders who are claim-free. If you frequently file small claims, you can expect either policy cancellation or increased premiums. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
- Prevent your car from being stolen – Purchasing a vehicle that has a built-in theft deterrent system can earn a premium discount. Advanced theft deterrents such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar help track and prevent vehicle theft.
- Pay more if you have a long commute – Choosing to live in less populated areas of the country is a good thing when insuring your vehicles. People who live in big cities have more traffic problems and a longer drive to work. Less people living in that area corresponds to lower accident rates.
- Continuous insurance coverage lowers premiums – Having a gap between insurance policy dates can be a sure-fire way to trigger a rate increase. And not only will your rates increase, being ticketed for driving with no insurance may result in a license revocation or jail time. You may then be required to file a SR-22 with the Nebraska motor vehicle department to get your license reinstated.
- Pay more of a claim out-of-pocket – Your deductibles are the amount of money you are required to pay if a claim is determined to be covered. Protection for physical damage, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your car. A few examples of covered claims would be rear-ending another vehicle, collision with a deer, and damage from wind. The higher the amount the insured has to pay upfront, the lower your rates will be.
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Vehicle risk impacts costs – The performance level of the vehicle you own makes a huge difference in how high your rates are. Economy passenger cars usually have the lowest rates, but the cost you end up paying is determined by many additional factors.
The data below assumes a single female driver age 40, full coverage with $100 deductibles, and no discounts or violations. It compares Toyota Prius insurance rates compared to other models of vehicles that have a range of risk factors.
- Improve your credit rating – A driver’s credit rating can be an important factor in your rate calculation. If your credit rating is low, you may save money insuring your Toyota Prius if you clean up your credit. Insureds with good credit tend to be less risk to insure than drivers with worse credit.
- Cheaper rates after marriage – Having a spouse actually saves money when buying insurance. Having a spouse is viewed as being less irresponsible and it’s statistically proven that drivers who are married file infrequent claims.
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Insurance loss statistics a Toyota Prius – Insurance companies use data from past claims when determining insurance prices. Vehicles that the data determines to have higher frequency or amount of claims will have a higher cost to insure.
The table below outlines the historical insurance loss data for Toyota Prius vehicles. For each coverage category, the claim amount for all vehicles, regardless of make or model, is a value of 100. Numbers below 100 indicate better than average losses, while values over 100 point to more claims or an increased likelihood of larger losses.
Insurance Loss Ratings for Toyota Prius Vehicles Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Prius C Hybrid 113 100 87 120 121 113 Toyota Prius Hybrid 101 97 98 103 118 103 Toyota Prius Plug-in Hybrid 98 89 87 106 114 93 Toyota Prius V Hybrid 94 86 88 88 94 97 BETTERAVERAGEWORSEData Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Here’s why insurance is not optional
Despite the potentially high cost of Toyota Prius insurance, buying insurance is a good idea for several reasons.
First, the majority of states have compulsory liability insurance requirements which means you are required to buy a specific level of liability in order to drive the car legally. In Nebraska these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you bought your Toyota Prius with a loan, almost all lenders will make it a condition of the loan that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may insure your Toyota for a lot more money and force you to reimburse them the higher price.
Third, insurance safeguards both your car and your assets. It will also reimburse you for medical bills for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if you are named as a defendant in an auto accident. If you have damage to your Toyota as the result of the weather or an accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of having insurance more than offset the price you pay, especially if you ever need it. An average driver in America overpays more than $850 per year so it’s important to compare rates at least once a year to ensure rates are inline.