Affordable Insurance for a Toyota Camry Hybrid in Lincoln

Astonishing but true according to a recent study, the vast majority of car insurance customers have bought car insurance from the same company for well over three years, and approximately 40% of consumers have never even compared rates from other companies. Lincoln insurance shoppers could pocket about $400 a year, but they don’t invest the time required to compare other rate quotes.

Insurance for Toyota Camry HybridTo save the most money, the best way to get affordable Toyota Camry Hybrid insurance in Lincoln is to make a habit of comparing prices annually from insurers that sell auto insurance in Nebraska.

An essential thing to point out is to compare the same deductibles and limits on each quote request and and to look at as many auto insurance providers as possible. Doing this enables the most accurate price comparison and a thorough selection of prices.

Cheap companies for Toyota Camry Hybrid insurance in Nebraska

The companies shown below provide price quotes in Lincoln, NE. If you wish to find cheap auto insurance in Lincoln, NE, we suggest you get rates from several of them to get the most affordable price.

Insurance coverage analysis

The premium information below outlines estimates of insurance coverage prices for Toyota Camry Hybrid models. Understanding more about how auto insurance policy rates are calculated can help drivers make informed purchases.

Toyota Camry Hybrid Insurance Rates in Lincoln, NE
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry Hybrid $182 $364 $356 $22 $106 $1,030 $86
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Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Nebraska minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Premium costs do not factor in vehicle garaging location which can influence insurance rates significantly.

Policy deductible comparison

When buying insurance, a common question is at what level do you set your deductibles. The tables below summarize the rate fluctuation when you select higher and lower physical damage coverage deductibles. The first data table uses a $100 physical damage coverage deductible and the second pricing table uses a $500 deductible.

Toyota Camry Hybrid insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry Hybrid $292 $548 $338 $20 $102 $1,325 $110
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Toyota Camry Hybrid insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry Hybrid $212 $370 $338 $20 $102 $1,042 $87
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Nebraska minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Prices do not factor in specific zip code location which can modify premium rates noticeably.

We can estimate from the data above that using a $100 deductible would cost the average driver about $23 more each month or $276 annually than requesting the higher $500 deductible. Since you would pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to go at least 17 months between claim filings, you would save more money by going with a higher deductible.

Calculation for raising deductibles

Average monthly premium for $100 deductibles: $110
Average monthly premium for $500 deductibles (subtract): – $87
Monthly savings from raising deductible: $23
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $23
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 17 months

One important issue to know is that a higher deductible means you will have to pay more when you have to file a claim. That will require some money saved in the event you have to pay the deductible for vehicle repair.

The example below demonstrates how choosing different deductibles and can change Toyota Camry Hybrid insurance rates for each age group. The rate quotes are based on a single female driver, full coverage, and no other discounts are factored in.

Reckless driving habits raise Lincoln insurance rates

The example below illustrates how violations and at-fault collisions influence Toyota Camry Hybrid premium costs for each different age group. The costs are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are taken into consideration.

Comparison of insurance rates by gender

The chart below shows the difference between Toyota Camry Hybrid insurance prices for male and female drivers. The prices are based on no accidents or driving violations, full coverage, $100 deductibles, drivers are single, and no other discounts are factored in.

Cost comparison with and without full coverage

The illustration below shows the comparison of Toyota Camry Hybrid yearly insurance costs with and without physical damage coverage. Data assumes no violations or accidents, $100 deductibles, drivers are single, and no discounts are taken into consideration.

When to drop comp and collision

There is no definitive formula of when to exclude full coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is more than around 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.

For example, let’s pretend your Toyota Camry Hybrid book value is $7,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $6,000 after the deductible is paid. If it’s costing you more than $600 annually for full coverage, then it could be time to drop full coverage.

There are some circumstances where dropping physical damage coverage is not recommended. If you still owe money on your vehicle, you have to keep full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should maintain full coverage.

Earn discounts to get lower-cost Lincoln auto insurance rates

Companies do not advertise all discounts in an easy-to-find place, so the below list has a few of the more common in addition to some of the lesser obvious credits available to bring down your rates. If you aren’t receiving every discount you deserve, you are throwing money away.

You should keep in mind that most of the big mark downs will not be given to the whole policy. Most only apply to the cost of specific coverages such as liability and collision coverage. So when the math indicates adding up those discounts means a free policy, auto insurance companies aren’t that generous. But all discounts will definitely reduce your policy premium.

The illustration below illustrates the comparison of Toyota Camry Hybrid insurance premiums with and without discounts. The costs are based on a male driver, no claims or driving violations, Nebraska state minimum liability limits, comprehensive and collision 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, homeowner, marriage, safe-driver, claim-free, and multi-policy discounts applied.

If you would like to view auto insurance companies that offer the discounts shown above in Lincoln, click here to view.

There’s no such thing as the perfect insurance policy

When quoting and comparing coverage online or from an agent for your personal vehicles, there really is not a perfect coverage plan. Your financial needs are unique.

These are some specific questions may help you determine if you may require specific advice.

If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. To find lower rates from a local agent, simply complete this short form. It only takes a few minutes and can provide invaluable advice.

Shop online but buy locally

Many drivers prefer to get advice from a local agent and that is a personal choice. Most agents are very good at helping people manage risk and help file insurance claims. An additional benefit of comparing rates online is that drivers can save money and get the lowest rates and still have an agent to talk to.

Insurance agents in LincolnAfter filling out this short form, your insurance data is sent to local insurance agents in Lincoln who will return price quotes for your auto insurance coverage. You won’t need to even leave your home since price quotes are sent to you instantly. If for some reason you want to compare prices from a particular provider, you can always navigate to their website and complete a quote there.

Picking an provider is decision based upon more than just a cheap price quote. Agents should be asked these questions:

If you need to find a local Lincoln insurance agency, it’s helpful to know the different agency structures and how they can write your policy. Agents are either independent or exclusive. Both can sell and service auto insurance coverage, but it’s worth learning the differences since it may influence the selection process.

Exclusive Insurance Agents

Exclusive agents can only quote rates from one company and examples are AAA, Allstate, State Farm, or Farmers Insurance. These agents are not able to provide rate quotes from other companies so they are skilled at selling on more than just price. These agents receive extensive training in insurance sales which can be an advantage. Consumers sometimes choose to use a exclusive agent primarily because of high brand loyalty rather than low rates.

Listed below is a short list of exclusive insurance agencies in Lincoln who can help you get comparison quotes.

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Independent Agencies or Brokers

These type of agents can quote rates with many companies so they can write business amongst many companies enabling the ability to shop coverage around. If you are not satisfied with one company, your agent can just switch to a different company and you don’t have to find a new agent. When comparison shopping, you should always check rates from a couple of independent agencies to get the best comparison. Most have the option of insuring with smaller companies which can be an advantage.

Below are independent agencies in Lincoln that can give you comparison quotes.

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If you receive good feedback as well as a affordable price, most likely you have located an insurance agency that is a good match to properly service your auto insurance policy.

Ratings for Lincoln car insurance companies

Choosing the top auto insurance provider is difficult considering how many companies sell insurance in Nebraska. The ranking data shown below can help you analyze which auto insurance companies to look at when looking for cheaper rates.

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

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

Top 10 Lincoln Car Insurance Companies Ranked by Customer Service

  1. State Farm
  2. Nationwide
  3. Safeco Insurance
  4. American Family
  5. Travelers
  6. Liberty Mutual
  7. GEICO
  8. Allstate
  9. The Hartford
  10. Farmers Insurance

Auto insurance specifics

Understanding the coverages of your auto insurance policy can help you determine appropriate coverage for your vehicles. Policy terminology can be impossible to understand and reading a policy is terribly boring.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP provide coverage for short-term medical expenses such as dental work, doctor visits and hospital visits. They can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. Personal Injury Protection is only offered in select states and may carry a deductible

Uninsured/Underinsured Motorist (UM/UIM) – This coverage provides protection when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Toyota Camry Hybrid.

Since many Nebraska drivers only purchase the least amount of liability that is required (25/50/25 in Nebraska), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

Collision – This coverage pays for damage to your Camry Hybrid caused by collision with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as sideswiping another vehicle, crashing into a building and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from vehicles that are older. You can also bump up the deductible on your Camry Hybrid to save money on collision insurance.

Comprehensive insurance – This pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like rock chips in glass, hitting a bird and falling objects. The maximum amount 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 it’s not worth carrying full coverage.

Liability car insurance – This protects you from damage that occurs to other’s property or people by causing an accident. It protects YOU against claims from other people. It does not cover damage to your own property or vehicle.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage pays for claims such as structural damage, attorney fees, emergency aid and court costs. How much coverage you buy is your choice, but consider buying higher limits if possible. Nebraska state minimum liability requirements are 25/50/25 but you should think about purchasing more liability than the minimum.

The illustration below shows why buying the state minimum limits may not be enough coverage.

Cover all your bases

There are still a few companies who don’t offer the ability to get quotes online and many times these smaller providers work with independent agents. Affordable Toyota Camry Hybrid insurance in Lincoln can be sourced on the web in addition to many Lincoln insurance agents, and you need to price shop both to have the best chance of lowering rates.

We covered a lot of tips how to get a better price on Toyota Camry Hybrid insurance in Lincoln. The key thing to remember is the more rate quotes you have, the better likelihood of getting affordable Lincoln car insurance quotes. Drivers may even discover the lowest premium rates are with some of the lesser-known companies.

Insureds switch companies for any number of reasons including lack of trust in their agent, unfair underwriting practices, an unsatisfactory settlement offer and poor customer service. Whatever your reason, finding a new insurance company can be less work than you think.

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