Toyota Rav4 insurance cost image courtesy of QuoteInspector.com
Finding competitive auto insurance for a Toyota RAV4 can be pretty simple, but it depends on a fairly complex equation with a lot of factors such as driver age, your occupation, and any prior driving offenses. Drivers in North Carolina will pay around $772 a year to insure their RAV4, but that price is using a 50-year-old single male driver with full comprehensive and collision coverage and $250 deductibles.
The issue with using an average estimated rate is the likelihood you aren't exactly 50 years old or even a male, possibly married instead of single, or maybe you prefer to not insure for full coverage. Even a slight difference in the factors used in pricing a policy can result in a large change in the cost of a policy.
Different coverage needs are the reason why the best method for finding the most affordable coverage for your Toyota is to do your own rate comparisons.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|RAV4 Sport 2WD||$166||$334||$282||$16||$84||$882||$74|
|RAV4 Limited 2WD||$166||$334||$282||$16||$84||$882||$74|
|RAV4 Limited 4WD||$166||$334||$282||$16||$84||$882||$74|
|RAV4 Limited 4WD||$166||$334||$282||$16||$84||$882||$74|
|RAV4 Sport 4WD||$166||$334||$282||$16||$84||$882||$74|
|Get Your Own Custom Quote Go|
Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Table data does not factor in your specific Raleigh location which can impact auto insurance rates considerably.
Which insurance company is best in North Carolina?
Picking the highest-rated auto insurance provider can be challenging considering how many different companies insure vehicles in Raleigh. The information in the next section could help you select which car insurance companies you want to consider when comparing auto insurance rates for a Toyota RAV4.
These ratings are only comprised of major nationwide insurance companies, so smaller companies that only insure vehicles in North Carolina will not be included in the list. If you'd like to compare prices and find the cheapest rates for a Toyota RAV4, simply click here.
Top 10 Large Auto Insurers in Raleigh Ranked by Customer Satisfaction
- USAA - 91%
- AAA Insurance - 90%
- Esurance - 90%
- Nationwide - 89%
- Travelers - 88%
- Progressive - 88%
- Safeco Insurance - 88%
- State Farm - 88%
- Allstate - 88%
- The Hartford - 87%
Top 10 Large Auto Insurers in Raleigh Ranked by A.M. Best Rating
- Travelers - A++
- USAA - A++
- GEICO - A++
- State Farm - A++
- Titan Insurance - A+
- Esurance - A+
- Progressive - A+
- Nationwide - A+
- The Hartford - A+
- Allstate - A+
Does full coverage make sense?
Saving money when shopping for insurance should be important to most drivers, and one way to find cheaper insurance for a Toyota RAV4 is to not buy comprehensive and collision coverage. The diagram below compares auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on no driving violations, no at-fault accidents, $250 deductibles, single status, and no discounts are factored in.
As an overall average, comprehensive and collision coverage on your policy costs $1,557 per year more than just insuring for liability. That proposes the question if you should buy full coverage. There is no written rule to exclude physical damage coverage, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, then it might be time to buy liability only.
Get discount Raleigh insurance
Auto insurance companies that offer coverage for a Toyota RAV4 may also offer special discounts that can reduce rates by 35% or more if you meet specific criteria. Larger insurance companies and some of their more popular discounts are:
- Farmers Insurance offers discounts for early shopping, switch companies, bundle discounts, mature driver, and distant student.
- State Farm offers premium reductions for good driver, Drive Safe & Save, student away at school, passive restraint, Steer Clear safe driver discount, and accident-free.
- Liberty Mutual may include discounts for preferred payment discount, new graduate, multi-car, new move discount, teen driver discount, and newly married.
- MetLife may offer discounts for multi-policy, claim-free, good student, defensive driver, and accident-free.
- Progressive offers discounts including continuous coverage, multi-policy, homeowner, online quote discount, multi-vehicle, and online signing.
The illustration below visualizes the comparison of auto insurance costs with and without policy discounts. The rates are based on a male driver, no accidents, no driving violations, North Carolina state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with anti-theft, safe-driver, multiple vehicle, marriage, defensive driving course, and multiple policy discounts applied. When these discounts are applied, theaverage yearly reduction on insurance for a Toyota RAV4 is 28% or $386.
Your cheap RAV4 insurance may actually be overpriced
North Carolina insurance rates are impacted by many factors which can significantly increase or decrease the price you have to pay for coverage. Simply having a birthday, buying a different vehicle, or getting a reckless driving citation can trigger changes in premium resulting in some rates now being cheaper than competitors.
In addition, insurance companies change premium rates at least once a year in order to protect their financial rating. Unexpectedly high claims can cause higher priced premiums, while a profitable period may result in more affordable RAV4 insurance rates.
To help illustrate this point, the graph below shows the cheapest car insurance in Raleigh, NC for a 45-year-old female driver with no prior claims, no tickets, and good credit. Based on her current risk factors, Utica National might offer the most affordable car insurance rates in Raleigh at $732 annually. This is $140 less than the average premium paid by North Carolina drivers of $872. Progressive, NC Farm Bureau, Liberty Mutual, and Penn National are also included in the top five cheapest Raleigh, NC auto insurance companies.
The example below compares rates after we give the driver from above an accident claim, bad credit, and an imperfect driving record. Since each auto insurance company has a different process to establish rates, comparing prices may result in a completely different list of the cheapest Raleigh car insurance companies as shown below.
Titan now has the lowest car insurance rate in Raleigh with State Farm, Auto-Owners, Allied, and Progressive completing the list. This example shows why North Carolina drivers need to take the time to shop around when trying to find the cheapest car insurance quotes for a Toyota RAV4.
Auto insurance prices are calculated by many factors and can change without notice, so the lowest-price company two years ago may now be costing you a lot of money.
How to find more affordable insurance for a Toyota RAV4
Lowering your rates is not difficult, and here are a few money-saving suggestions that can help Raleigh drivers locate cheaper car insurance.
- Assess whether full coverage is needed
- Do not get into accidents that are your fault
- Good credit scores may make rates cheaper
- Raise your deductibles
- Do not get traffic tickets
- Buy safe vehicles
- Shop around for lower rates once a year
That last piece of advice is very crucial, as we emphasized in the article above. Insurance prices in Raleigh can change in a short period of time, so drivers shouldn't hesitate to switch carriers if you can save money. Many consumers stick with the same company and that's fine, but it isn't a good idea if your bullheadedness ends up costing you hundreds of dollars a year. Take a few minutes and compare prices to find cheaper car insurance for a Toyota RAV4.