Buying the cheapest auto insurance for a Toyota Corolla in Virginia is dependent upon a lot of things such as how you use your Corolla, your credit rating, and driving violations and tickets. Drivers pay approximately $782 a year for Corolla insurance, but that amount is a valuation based upon a 50-year-old single male driver with full coverage and $250 deductibles.
The issue with using an average estimated rate is the likelihood you are not 50 years old and maybe not even male, maybe you are married instead of single, or maybe you have a speeding ticket or two that will increase rates. Everone’s needs are different, and this illustrates why the best method for finding affordable rates for your Toyota is to just compare rates yourself. In just a couple of minutes you can get rates from some of the cheapest companies that offer coverage in Virginia.
Vehicle trim level has an effect on the insurance rate, so the cost to insure a Corolla LE will be $24 less than the insurance cost for the higher-priced Corolla XRS version, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Price estimates do not factor in vehicle garaging location which can affect premiums substantially.
Deciphering which company offers the best car insurance rates for a Toyota Corolla requires a bit more effort than just quoting one company’s rates.
Each auto insurance company uses a little different formula for determining rates in each state, so let’s take a look at the car insurance companies with the overall best prices in Virginia.
Find Cheaper Car Insurance for Your Corolla
|Rank||Company||Cost Per Year|
|9||Virginia Farm Bureau||$834|
|15||National Grange Mutual||$1,060|
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Travelers has some of the most affordable car insurance rates in Virginia Beach at around $659 per year. This is $499 less than the average rate paid by Virginia drivers of $1,158. USAA, Cincinnati Insurance, Penn National, and Utica National also are some of the more affordable Virginia Beach, VA car insurance companies.
As depicted above, if you currently have a policy with Penn National and switched to Travelers, you may see an annual premium reduction of in the vicinity of $81. Insureds with Utica National might save as much as $106 a year, and Auto-Owners insureds might lower prices by $122 a year.
These premium estimates are averaged across all ages of drivers and types of vehicles and and are not figured with an exact vehicle garaging location for a Toyota Corolla. So the car insurance company that has the cheapest price for you may not even be in the top 30 companies shown above. That helps illustrate why you need to quote rates from many companies using your own individual information.
Discount Virginia Beach auto insurance
Insurance companies that provide policies for a Toyota Corolla could also offer discounts that can lower rates by as much as 40% or more if you can meet the requirements. Companies and their offered discounts are outlined below.
- AAA may have discounts that include multi-car, good driver, anti-theft, multi-policy, AAA membership discount, education and occupation, and pay-in-full.
- Progressive has discounts for multi-vehicle, multi-policy, homeowner, online quote discount, continuous coverage, online signing, and good student.
- State Farm discounts include good driver, passive restraint, driver’s education, student away at school, good student, and multiple autos.
- Esurance may include discounts for online quote, safety device, renters, multi-policy, defensive driver, anti-lock brakes, and good student.
- Nationwide policyholders can earn discounts including accident-free, defensive driving, Farm Bureau membership, anti-theft, and multi-policy.
The chart below compares car insurance costs with and without discounts applied to the rates. The data is based on a female driver, no violations or claims, Virginia state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with defensive driving course, multiple policy, accident-free, homeowner, passive restraint, and marriage discounts applied. In this example, theamount saved on car insurance for a Toyota Corolla is 28% or $494.
The chart below illustrates how your choice of deductibles can change annual premium costs when researching cheap insurance for a Toyota Corolla. The data assumes a single female driver, comp and collision included, and no policy discounts are applied.
In the chart above, a 30-year-old driver could pocket $324 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $488 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old example, could save as much as $726 every year just by choosing higher deductibles when buying full coverage.
If you do make the decision to raise your deductibles, it is a good idea to have plenty of money set aside to allow you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
How to find budget-friendly insurance for a Toyota Corolla
Here are a few penny-pinching suggestions that can help drivers quote lower-cost coverage.
- Buy safe vehicles
- Drivers with good credit often pay less
- You will pay more if you get tickets or have at-fault accidents
- At-fault accidents will increase rates
- Having too many claims will increase rates substantially
- Compare rates regularly and switch companies to save money
That last tip is highly necessary, as was emphasized in this write-up. Rates in Virginia Beach can be changed at any time, so you should be ready to buy from a different company if a better rate can be found.
Loyalty to a specific company is fine, but it isn’t a good idea if that devotion results in you overpaying a lot of money. Take a few minutes and shop around and find cheaper car insurance for a Toyota Corolla.
The Virginia Beach auto insurance agencies shown below can help you make a decision which policy is best, as lots of people like to have a professional recommendation when buying car insurance for a Corolla. It’s not always simple to find the cheapest rate yourself, so getting professional guidance from a licensed agent can provide comfort knowing your policy gives you sufficient coverage at claim time. To find an auto insurance agency by location nearest to you, click the button after the list or click here to compare price quotes.
Bell Insurance Agency Corporation
1501 Cornwell Ln – Virginia Beach, VA 23454 – (757) 340-0028
Frank Owens – State Farm Insurance Agent
1776 Laskin Rd #102 – Virginia Beach, VA 23454 – (757) 428-3101
Nationwide Insurance: Guzman Insurance Agency Inc
1920 Centerville Turnpike Ste 97 – Virginia Beach, VA 23464 – (757) 479-0551