Really, the only way to save money on Toyota Yaris insurance in Raleigh is to start comparing prices regularly from insurance carriers in North Carolina. Drivers can shop around by completing these steps.
- Get a basic knowledge of auto insurance and the things you can control to drop your rates. Many rating factors that result in higher rates such as speeding and an unacceptable credit history can be eliminated by improving your driving habits or financial responsibility.
- Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO or Farmers Insurance, while independent agents can provide rate quotes for a wide range of companies. Begin your rate comparison
- Compare the new rate quotes to your existing policy to see if you can save by switching companies. If you can save money and decide to switch, make sure there is no coverage gap between policies.
- Tell your current company of your decision to cancel your current policy. Submit a completed application and payment for the new policy. Be sure to place the new certificate verifying proof of insurance in a readily accessible location in your vehicle.
One tip to remember is that you’ll want to make sure you compare similar deductibles and liability limits on every quote and and to compare as many companies as feasibly possible. This enables a fair price comparison and and a good selection of different prices.
We don’t have to tell you that car insurance companies want to prevent you from shopping around. Consumers who shop around for cheaper price quotes are likely to switch insurance companies because there is a great chance of finding coverage at a cheaper rate. A recent survey found that people who routinely compared rates saved as much as $3,450 over four years compared to drivers who never compared rates.
If finding the best price on insurance is your ultimate target, then learning about the best ways to shop for insurance rates can make it easier for you to save money.
Finding and buying the lowest-priced insurance coverage in Raleigh is not as confusing as people think. If you have insurance now or need new coverage, use these tips to buy cheaper insurance while maximizing coverage. Shoppers only need to know the most efficient way to get comparison quotes online.
Five Things That Affect Your Insurance Costs
An important part of buying insurance is that you know some of the things that come into play when calculating your car insurance rates. If you know what positively or negatively impacts your premiums, this allows you to make good choices that may reward you with cheaper rates.
Vehicles with better crash test results cost less to insure – Vehicles with high crash test scores can get you lower premiums. Safe vehicles have better occupant injury protection and reduced instances of injuries translates into fewer and smaller insurance claims and lower rates for you.
Premiums drop with age – Older people are more cautious drivers, cause fewer claims and accidents, and receive fewer citations. Young drivers are proven to be inattentive and easily distracted behind the wheel so car insurance rates are higher.
The next chart is based on a single driver, full coverage with $500 deductibles, and no discounts or violations.
Save money with theft deterrents – Driving a car with a theft deterrent system can help lower your premiums. Theft deterrent systems like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent auto theft and help lower rates.
Occupation can influence premiums – Occupations like real estate brokers, business owners, and accountants usually pay the highest average rates due to stressful work requirements and extremely grueling work hours. On the other hand, occupations like farmers, athletes and retirees receive lower rates.
Physical damage deductibles – Physical damage deductibles represent how much money you are willing to pay before your car insurance pays a claim. Physical damage insurance, also called ‘full coverage’, insures against damage to your car. Examples of covered claims would be collision with another vehicle, damage from fire, and damage caused by road hazards. The more money you pay before a claim is paid (deductible), the bigger discount you will receive.
Loss statistics for a Toyota Yaris – Insurance companies factor in historical loss data to help determine costs. Vehicles that tend to have a trend towards higher claims will have a higher cost to insure.
The next table shows the historical loss data for Toyota Yaris vehicles. For each insurance policy coverage type, the claim amount for all vehicles, regardless of manufacturer or model, equals 100. Numbers below 100 suggest a better than average loss history, while percentage numbers above 100 indicate more frequent claims or an increased chance of larger losses than average.
| Specific Toyota Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Yaris | 94 | 88 | 92 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
The following companies can provide price comparisons in North Carolina. If you want cheaper auto insurance in Raleigh, NC, we suggest you visit as many as you can in order to get a fair rate comparison.
Rates and information analytics
The price information displayed below outlines different insurance policy prices for Toyota Yaris models. Learning more about how auto insurance premiums are figured can be of help when making decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Yaris 2-Dr Hatchback | $160 | $366 | $366 | $22 | $110 | $1,024 | $85 |
| Yaris 4-Dr Hatchback | $160 | $366 | $324 | $20 | $96 | $966 | $81 |
| Yaris 4-Dr Sedan | $160 | $366 | $324 | $20 | $96 | $966 | $81 |
| Yaris S 2-Dr Hatchback | $184 | $366 | $366 | $22 | $110 | $1,048 | $87 |
| Yaris S 4-Dr Hatchback | $184 | $366 | $324 | $20 | $96 | $990 | $83 |
| Yaris S 4-Dr Sedan | $184 | $366 | $324 | $20 | $96 | $990 | $83 |
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Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Rate quotes do not factor in specific garaging location which can impact rates substantially.
How high should deductibles be?
When buying car insurance, a common question is how low should you set your deductibles. The comparisons below may help to illustrate the difference in cost of buying low and high coverage deductibles. The first data table uses a $250 deductible and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Yaris 2-Dr Hatchback | $168 | $324 | $282 | $16 | $84 | $899 | $75 |
| Yaris 4-Dr Hatchback | $168 | $324 | $250 | $14 | $74 | $855 | $71 |
| Yaris 4-Dr Sedan | $168 | $324 | $250 | $14 | $74 | $855 | $71 |
| Yaris S 2-Dr Hatchback | $192 | $324 | $282 | $16 | $84 | $923 | $77 |
| Yaris S 4-Dr Hatchback | $192 | $324 | $250 | $14 | $74 | $879 | $73 |
| Yaris S 4-Dr Sedan | $192 | $324 | $250 | $14 | $74 | $879 | $73 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Yaris 2-Dr Hatchback | $136 | $262 | $282 | $16 | $84 | $780 | $65 |
| Yaris 4-Dr Hatchback | $136 | $262 | $250 | $14 | $74 | $736 | $61 |
| Yaris 4-Dr Sedan | $136 | $262 | $250 | $14 | $74 | $736 | $61 |
| Yaris S 2-Dr Hatchback | $156 | $262 | $282 | $16 | $84 | $800 | $67 |
| Yaris S 4-Dr Hatchback | $156 | $262 | $250 | $14 | $74 | $756 | $63 |
| Yaris S 4-Dr Sedan | $156 | $262 | $250 | $14 | $74 | $756 | $63 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Premium amounts do not factor in garaging location in Raleigh which can revise premium rates greatly.
Based on this data, using a $250 deductible will cost you roughly $10 more each month or $120 a year across all Toyota Yaris models than opting for the higher $500 deductible. Because you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you have at a minimum 25 months between claims, you would probably save some money going with the higher deductible.
The chart below highlights how deductible selection and can change Toyota Yaris insurance costs for different ages of insureds. The rates are based on a married male driver, comp and collision included, and no other discounts are factored in.
Drive responsibly or pay higher rates
The diagram below illustrates how violations and accident claims can drive up Toyota Yaris car insurance rates for each age group. The premiums are based on a married female driver, full coverage, $250 deductibles, and no discounts are factored in.
Toyota Yaris annual premiums for males versus females
The information below shows the difference between Toyota Yaris car insurance rates for male and female drivers. Data assumes no violations or accidents, comprehensive and collision coverage, $100 deductibles, single marital status, and no discounts are applied.
Does it make sense to buy full coverage?
The chart below shows the comparison of Toyota Yaris yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The costs are based on no accidents, no driving violations, $250 deductibles, marital status is single, and no other discounts are factored in.
When to drop comprehensive and collision
There is no definitive guideline of when to eliminate physical damage insurance, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Toyota Yaris replacement cost is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $4,000 after the deductible is paid. If you are currently paying more than $400 annually for physical damage coverage, then it may be the right time to buy liability only.
There are a few cases where eliminating full coverage is not a good plan. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Why do I need car insurance?
Despite the fact that car insurance is not cheap in Raleigh, maintaining insurance serves several important purposes.
- Almost all states have minimum liability requirements which means it is punishable by state law to not carry a specific level of liability protection if you don’t want to risk a ticket. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you bought your Yaris with a loan, almost every bank will require that you buy full coverage to protect their interest in the vehicle. If the policy lapses, the lender may insure your Toyota for a much higher rate and require you to reimburse them a much higher amount than you were paying before.
- Insurance protects both your Toyota Yaris and your assets. It will also provide coverage for medical transport and hospital expenses incurred in an accident. As part of your policy, 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, your car insurance policy will cover the damage repairs after a deductible is paid.
The benefits of buying car insurance are definitely more than the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver overpays as much as $865 each year so compare rate quotes at every policy renewal to make sure the price is not too high.
Verify you’re applying every discount
Auto insurance companies do not advertise every discount they offer very well, so the list below gives a summary of some of the best known as well as some of the hidden discounts that you may qualify for.
- Professional Organizations – Being in qualifying employment or professional organizations could trigger savings on insurance.
- Multiple Policy Discount – If you have multiple policies and place coverage with the same company you could save up to 20% off your total Yaris insurance premium.
- ABS and Traction Control Discounts – Anti-lock brake equipped vehicles can reduce accidents so you can save 10 percent or more.
- Claim Free – Insureds who avoid accidents and claims can earn big discounts in comparison with insureds who have frequent claims or accidents.
- Senior Citizen Rates – Older drivers could receive a discount up to 10%.
- Student Discounts – This discount can get you a discount of up to 25%. The good student discount can last well after school through age 25.
- Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them successfully take a driver’s education course in school or through a local driver safety program.
- Raleigh Homeowners Discount – Just owning your own home can save a few bucks due to the fact that maintaining a home means you have a higher level of financial diligence.
While discounts sound great, it’s important to understand that some credits don’t apply to the overall cost of the policy. Most only apply to specific coverage prices like medical payments or collision. Despite the appearance that you could get a free insurance policy, company stockholders wouldn’t be very happy. But any discount should definitely cut your policy premiums.
The information below illustrates the comparison of Toyota Yaris insurance costs with and without discounts. The premiums are based on a male driver, no driving violations, no at-fault accidents, North Carolina state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, marriage, multi-car, multi-policy, and homeowner discounts applied.
To choose companies who offer free Toyota Yaris insurance quotes in North Carolina, click here.
Shop online but buy locally
Some people would rather visit with an insurance agent and that is a smart decision Good agents can help you build your policy and help in the event of a claim. One of the benefits of getting free rate quotes online is that you can find cheap insurance quotes but still work with a licensed agent. And supporting local insurance agents is especially important in Raleigh.
To make it easy to find an agent, after completing this short form, the quote information is transmitted to participating agents in Raleigh that give free quotes for your coverage. You won’t need to visit any agencies as quotes are delivered immediately to you. If you need to get a comparison quote from a specific company, you would need to go to their quote page and fill out the quote form the provide.
Selecting an insurance company should depend on more than just a low price. Any good agent in Raleigh should know the answers to these questions.
- Is there a 24/7 contact number?
- How much will you save each year by using a higher deductible?
- What company holds the largest book of business for them?
- Do they have any clout with companies to ensure a fair claim settlement?
- Does the agency support the community they serve?
- How long has their agency been in business in Raleigh?
- How much training do they have in personal risk management?
- Does the agent have a valid license to sell insurance in North Carolina?
If you get good answers to all your questions and an acceptable price quote, most likely you have located a company that is a good match to adequately provide insurance. Just remember you are able to cancel a policy at any time so never feel that you’re stuck with any particular company for the full term.
Find affordable rates by being thorough
Some auto insurance companies do not offer rate quotes online and most of the time these small insurance companies only sell through independent insurance agencies. Budget-conscious Toyota Yaris insurance can be found both online as well as from independent agents in Raleigh, so you need to compare both in order to have the best price selection to choose from.
While you’re price shopping online, it’s a bad idea to buy lower coverage limits just to save a few bucks. Too many times, an insured cut full coverage and found out when filing a claim they didn’t have enough coverage. Your goal is to buy a smart amount of coverage at the best possible price, but do not sacrifice coverage to save money.
We just presented a lot of techniques to lower your Toyota Yaris insurance rates in Raleigh. The key concept to understand is the more you quote Raleigh car insurance, the better your chances of lowering your car insurance rates. You may even find the biggest savings come from the smaller companies.
To read more, feel free to visit the resources below:
- Booster Seat Ratings (iihs.org)
- What Car Insurance is Cheapest for Inexperienced Drivers in Raleigh? (FAQ)
- Who Has Cheap Raleigh Car Insurance for a Company Car? (FAQ)
- Who Has Affordable Raleigh Car Insurance for Veterans? (FAQ)
- Who Has the Cheapest Raleigh Auto Insurance Quotes for Drivers Requiring a SR22? (FAQ)
- Who Has Cheap Raleigh Auto Insurance Quotes for Used Cars? (FAQ)
- How Much are Auto Insurance Quotes for a Subaru Outback in Raleigh? (FAQ)
- Frontal Crash Tests (iihs.org)
- Five Mistakes to Avoid (Insurance Information Institute)
- Teen Driving and Texting (State Farm)