How long has it been since you shopped around for cheaper Toyota Camry insurance in Los Angeles? Scraping up a payment for expensive Toyota Camry insurance in Los Angeles can consume your funds and possibly require postponing other expenditures. Performing a rate comparison is a smart way to lower your bills every month.
A recent auto insurance study revealed that a large majority of drivers have purchased from the same company for at least four years, and virtually 40% of consumers have never shopped around. Los Angeles consumers could save 35% each year just by getting comparison quotes, but they feel it's too difficult to find lower-cost rates by getting comparison quotes. Online insurance companies like Progressive, State Farm and GEICO continually hit you with fancy advertisements and it is difficult to ignore the propaganda and do the work needed to find the best deal.
It's a good habit to price shop coverage every six months due to the fact that insurance prices are usually higher with each renewal. Even if you think you had the best quotes on Toyota Camry insurance in Los Angeles at your last renewal other companies may now be cheaper. There are a lot of ways to save on Camry insurance on the internet, but we're going to give you a lot of great tips on how to reduce your auto insurance bill.
Companies offering Toyota Camry insurance in Los Angeles
The companies shown below are our best choices to provide comparison quotes in California. To locate the best car insurance in California, it's a good idea that you compare several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Estimates do not factor in your specific Los Angeles location which can affect premium rates noticeably.
Do you need full coverage?
The example below illustrates the comparison of Toyota Camry annual premium costs with and without full coverage. The information is based on a clean driving record, no at-fault accidents, $250 deductibles, married male driver, and no policy discounts are applied.
When to stop paying for full coverage
There is no exact formula to eliminate physical damage insurance, but there is a guideline you can use. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let's pretend your Toyota Camry replacement cost is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after paying your deductible. If you are paying in excess of $200 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are some cases where eliminating full coverage is not recommended. If you still have a loan on your vehicle, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
Policy deductible comparison
The diagram below shows how different deductible levels and can affect Toyota Camry insurance premiums for different age groups of insureds. The premiums assume a single female driver, full coverage, and no discounts are taken into consideration.
Affordable Toyota Camry insurance rates in Los Angeles
The cost of insuring your cars can be expensive, but you may be missing some discounts to reduce the price significantly. Certain discounts will be triggered automatically at the time of quoting, but some may not be applied and must be asked for prior to getting the savings. If you aren't receiving every discount available, you are throwing money away.
- Driving Data Discount - Los Angeles drivers who agree to allow data collection to look at driving habits by using a telematic data system such as Snapshot from Progressive or Drivewise from Allstate might get better premium rates as long as they are good drivers.
- College Student - Youth drivers who are enrolled in a college that is more than 100 miles from Los Angeles and won't have access to an insured vehicle can receive lower rates.
- Los Angeles Homeowners Discount - Owning a home in Los Angeles can get you a discount because maintaining a house means you have a higher level of financial diligence.
- Driver Safety - Participating in a course in defensive driving can save you 5% or more and easily pay for the cost of the class.
- Government Employee Discount - Simply working for the federal government may reduce rates when you quote Los Angeles car insurance but check with your company.
- New Vehicle Savings - Buying a new car instead of a used Camry can save you some money since newer vehicles are generally safer.
One last thing about discounts, most discounts do not apply to the entire policy premium. Most only cut specific coverage prices like medical payments or collision. So when the math indicates it's possible to get free car insurance, it doesn't quite work that way.
A list of companies and the discounts they provide are:
- Progressive offers discounts including homeowner, online quote discount, multi-policy, good student, multi-vehicle, online signing, and continuous coverage.
- MetLife offers premium reductions for good driver, good student, multi-policy, claim-free, defensive driver, accident-free
- Mercury Insurance discounts include anti-theft, low natural disaster claims, age of vehicle, multi-car, good driver, and type of vehicle.
- Nationwide may offer discounts for Farm Bureau membership, defensive driving, good student, family plan, multi-policy, business or organization, and accident-free.
- GEICO has discounts for anti-theft, driver training, membership and employees, emergency military deployment, defensive driver, and good student.
- AAA may have discounts that include multi-car, education and occupation, good student, pay-in-full, good driver, and anti-theft.
Before buying, ask every prospective company which discounts you qualify for. Savings might not be offered in your state.
Smart Consumers Know How to Quote Insurance at a Discount
A large part of saving on insurance is knowing some of the elements that help calculate your premiums. If you have some idea of what impacts premium levels, this enables informed choices that may result in big savings.
The type of car makes a difference - The type of car you own makes a substantial difference in your rates. The lowest rates are usually found on economy passenger cars, but the final cost of insurance is determined by many other factors. Due to the fact that the Toyota Camry falls in the sedan class, insuring your vehicle will cost about the same as compared to the average rate in Los Angeles.
Premiums are affected by your credit rating - Having a good credit score can be a huge factor in determining premium rates. Drivers with very high credit ratings tend to file fewer claims and have better driving records than those with lower ratings. If your credit score is low, you could potentially save money when insuring your Toyota Camry if you clean up your credit.
Drive less and get lower prices - The more you drive every year the more you'll pay to insure it. Many insurance companies rate vehicles based upon how the vehicle is primarily used. Cars and trucks that do not get driven very much qualify for better rates compared to those used for work or business. Double check that your declarations sheet reflects the proper vehicle usage. Having the wrong rating on your Camry may be costing you higher rates.
Why do you need liability protection? - Liability insurance will protect you in the event that you are ruled to be at fault for damages from an accident. Liability insurance provides legal defense which can cost thousands of dollars. It is affordable coverage compared to other policy coverages, so drivers should buy more than the minimum limits required by law.
An insurance lapse is a bad thing - Letting your insurance expire is a guaranteed way to pay more for insurance. And not only will your rates increase, not being able to provide proof of insurance will get you a revoked license or a big fine. You could then be forced to prove you have insurance by filing a SR-22 with the California motor vehicle department to get your license reinstated.
Do males or females drive better? - Over the last 50 years, statistics have shown that men are more aggressive behind the wheel. However, this does not mean women are BETTER drivers than men. They both are in accidents in similar numbers, but men have accidents that have higher claims. Men also statistically get ticketed for serious violations like DUI and reckless driving. Teenage male drivers generally have the highest accident percentage and are penalized with high insurance rates.
Prices may be lower depending on your occupation - Careers such as fire fighters, business owners and financial analysts generally pay higher average rates attributed to intense work situations and extremely grueling work hours. On the other hand, jobs like professors, engineers and performers have lower than average premiums.
Only buy what you need - Insurance companies have many additional extra coverages you can purchase if you don't pay attention. Insurance for replacement cost coverage, accident forgiveness, and motor club memberships are examples of these. They may sound like good ideas when you first buy your policy, but if you don't need them get rid of them and save.
Insurance loss statistics a Toyota Camry - Insurers use past insurance losses in order to profitably underwrite each model. Models that the data shows to have higher loss trends will have a higher premium rate.
The table below demonstrates the actual insurance loss data for Toyota Camry vehicles. For each coverage category, the claim amount for all vehicles combined as an average is a value of 100. Values below 100 imply a favorable loss record, while values that are 100 or greater indicate more frequent claims or statistically larger losses.
Toyota Camry Insurance Loss Statistics
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Camry Hybrid||124||100||110||118||127||96|
Statistics from IIHS.org for 2013-2015 Model Years
Your situation helps dictate your coverage
When selecting a policy, there really is no perfect coverage plan. Your needs are not the same as everyone else's.
For instance, these questions could help you determine whether or not you could use an agent's help.
- How can I get the company to pay a claim?
- Am I covered if my car is in a flood?
- Are split liability limits better than a combined single limit?
- Why do I need rental car insurance?
- What if an uninsured driver hits me?
- Am I covered when driving a rental car?
- How much can I save by bundling my policies?
- What discounts do I qualify for?
- How much will a speeding ticket raise my rates?
- Do I need added coverage for expensive stereo equipment?
If you don't know the answers to these questions then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, complete this form. It only takes a few minutes and may give you better protection.
Are auto insurance agents of importance?
Many drivers just prefer to buy from a local agent and that is not a bad decision Experienced insurance agents can help you choose the best coverages and help you file claims. The biggest benefit of getting free rate quotes online is you may find cheap rate quotes and still have an agent to talk to.
Upon completion of this form (opens in new window), the coverage information is immediately sent to local insurance agents in Los Angeles who will give competitive quotes for your coverage. It simplifies rate comparisons since you won't have to find an agent on your own since price quotes are sent immediately to you. If you wish to compare prices from one company in particular, feel free to jump over to their website and fill out their quote form.
Choosing an provider shouldn't rely on just a low price. Here are some questions you should ask.
- What is the agency's Better Business Bureau rating?
- Did they already check your driving record and credit reports?
- Will they give you a referral list?
- What are their preferred companies if they are an independent agency?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Which members of your family are coverage by the policy?
- Are they primarily personal or commercial lines agents in Los Angeles?
If you are wanting to purchase auto insurance from a reliable insurance agent, there are two different types of agents and how they are distinctly different. Agents are categorized either independent agents or exclusive agents depending on their employer. Both types can sell and service auto insurance coverage, but it's important to know the difference in how they write coverage because it can impact which type of agent you select.
Exclusive Insurance Agents
These agents work for only one company such as State Farm, Allstate and AAA. Exclusive agents cannot compare other company's rates so they are skilled at selling on more than just price. They receive extensive training on their company's products which can be an advantage.
Listed below is a list of exclusive agencies in Los Angeles willing to provide rate quotes.
Independent Auto Insurance Agents
Agents of this type are not required to write business for one company so they have the ability to put coverage with lots of companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, your agent can switch companies and you can keep the same agent. When comparison shopping, you definitely need to get several quotes from multiple independent agents in order to compare the most rates.
The following are Los Angeles independent insurance agents that can give you price quotes.
After talking to the agent and getting good answers to these questions in addition to an acceptable price estimate, you've probably found an auto insurance agent that meets the requirements to provide auto insurance coverage. But remember, consumers can cancel your policy whenever you choose to so don't think that you're stuck with any specific agency for a certain time period.
Tricks in auto insurance advertising
California drivers can't get away from all the ads that promise big savings for switching by Allstate and Progressive. They all seem to tend to make the same promise that drivers will save a bundle if you just switch your auto insurance policy to them.
Is it even possible that every company can charge less that you're paying now? This is how they do it.
Most companies quote the lowest rates for the type of driver they prefer to insure. One example of a driver they prefer might be between the ages of 30 and 50, has never had a policy lapse, and drives a car with an anti-theft system. A customer who meets those qualifications may get the lowest car insurance rates in Los Angeles and most likely will cut their Toyota Camry insurance rates if they switch.
Insureds who don't qualify for the ideal profile may be forced to pay a more expensive rate which results in the customer not purchasing. The ad wording is "drivers who switch" but not "everyone who gets a quote" save that much when switching. That's why insurance companies can confidently make those claims. This really emphasizes why you really need to do a rate comparison at every renewal. You cannot predict which auto insurance company will fit your personal profile best.
Cheaper coverage is out there
Lower-priced Toyota Camry insurance in Los Angeles is definitely available from both online companies as well as from insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some companies may not offer online quoting and these smaller companies provide coverage only through independent agents.
People switch companies for a variety of reasons including high rates after DUI convictions, lack of trust in their agent, high prices and an unsatisfactory settlement offer. Regardless of your reason for switching companies, finding a new company can be easier than you think.
As you shop your coverage around, it's very important that you do not skimp on critical coverages to save a buck or two. There are too many instances where an insured cut liability limits or collision coverage only to regret at claim time that the savings was not a smart move. Your goal should be to buy enough coverage at the best cost but still have enough coverage for asset protection.
To learn more, feel free to visit the resources below:
- Determing Auto Insurance Rates (GEICO)
- What is the Cheapest Car Insurance in Sacramento, California? (FAQ)
- Who Has Cheap California Auto Insurance for a Ford Fusion? (FAQ)
- Who Has Affordable Car Insurance Rates for Felons in California? (FAQ)
- Who Has Cheap California Auto Insurance for a 20 Year Old Female? (FAQ)
- Parking Tips to Reduce Door Dings (State Farm)
- Medical Payments Coverage (Liberty Mutual)
- Teen Driving and Texting (State Farm)
- Liability Insurance Coverage (Nationwide)