If you want to save the most money, the best way to find cheaper quotes for Toyota Tundra insurance is to compare prices regularly from insurance carriers who provide auto insurance in Virginia Beach. Drivers can shop around by following these guidelines.
- Learn about policy coverages and the measures you can take to prevent expensive coverage. Many risk factors that cause rate increases such as your driving record and an unfavorable credit rating can be eliminated by making minor changes in your lifestyle.
- Quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like GEICO and Allstate, while agents who are independent can provide prices from multiple sources.
- Compare the new rates to the premium of your current policy to see if you can save by switching companies. If you find a lower rate quote, make sure coverage does not lapse between policies.
- Notify your agent or company of your decision to cancel the current policy and submit a down payment and signed policy application to your new carrier. Once coverage is bound, store the proof of insurance certificate in a readily accessible location in your vehicle.
The key aspect of shopping around is to try to use similar coverage information on each quote and and to get rate quotes from all possible companies. This guarantees an apples-to-apples comparison and a complete price analysis.
Shockingly, nearly 70% of customers have remained with the same car insurance company for more than four years, and 38% of drivers have never compared rate quotes at all. The average driver in Virginia can save roughly $548 each year just by getting comparison quotes, but they just don’t understand how easy it is to save money by comparing rate quotes.
If you have insurance now or just want to reduce your rates, you can use these tips to save money without reducing protection. Locating the most cost-effective car insurance policy in Virginia Beach is not that difficult. Consumers just have to know the most effective way to compare prices instantly.
You Can Change Your Insurance Rates
Lots of things are used in the calculation when you get a price on insurance. Some are pretty understandable like a motor vehicle report, although some other factors are less obvious like where you live and annual miles driven.
The following are a partial list of the pieces companies use to determine your premiums.
Lower prices with GPS tracking and theft deterrents – Selecting a car model with a theft deterrent system can save you a little every year. Systems that thwart thieves like OnStar, LoJack tracking, and tamper alarms help track and prevent your car from being stolen.
Avoid policy lapses – Not having insurance is a big no-no and you will pay a penalty because you let your insurance coverage expire. In addition to paying higher rates, the inability to provide proof of insurance may earn you a revoked license or a big fine.
Companies want multiple policies – Some insurers will give better rates to clients who carry more than one policy such as combining an auto and homeowners policy. The discount can be anywhere from five to ten percent in most cases. Even if you qualify for this discount already, it’s always a smart idea to compare other company rates to help guarantee you have the best rates. You may still save money by buying from different companies
Better credit means lower rates – An insured’s credit score factor in determining your rates. Therefore, if your credit rating is low, you could save money insuring your Toyota Tundra by spending a little time repairing your credit. Drivers with high credit scores tend to be more responsible and file fewer claims than drivers who have lower ratings.
With age comes responsibility – Older people tend to be more responsible, file fewer claims, and get fewer tickets. Young drivers are statistically proven to be careless and easily distracted when behind the wheel and because of this, their insurance rates are much higher.
The next chart uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.
Insurance losses for a Toyota Tundra – Insurance companies analyze claim trends for every vehicle to determine a rate that will be profitable for them. Models that the statistics show to have a higher amount or frequency of claims will cost more for specific coverages. The table below demonstrates the insurance loss data for Toyota Tundra vehicles.
For each coverage category, the statistical loss for all vehicles averaged together equals 100. Values under 100 are indicative of better than average losses, while values that are 100 or greater indicate more frequent losses or an increased chance of larger losses than average.
|Specific Toyota Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Tundra CrewMax 2WD||88||105||96||63||75||94|
|Toyota Tundra CrewMax 4WD||97||113||105||64||51||77|
|Toyota Tundra Double Cab 2WD||95||131||90||85||84||107|
|Toyota Tundra Double Cab 4WD||86||112||93||53||55||79|
|Toyota Tundra Double Cab LWB 4WD||93||115||69|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Lowering your auto insurance rates doesn’t have to be difficult. You just need to spend a few minutes getting comparison quotes to discover which company has low cost Virginia Beach car insurance quotes.
Getting rate quotes online is very simple and it makes it obsolete to make phone calls or go to insurance agents’ offices. Comparing Toyota Tundra insurance rates online reduces the need to sit down with an agent unless you prefer the professional guidance that only a licensed agent can provide. Drivers can comparison shop your insurance online but have a local agent actually write the policy.
The providers in the list below have been selected to offer price comparisons in Virginia. If multiple companies are listed, we suggest you visit two to three different companies to get the cheapest price.
Toyota Tundra insurance analysis
The table shown next highlights a range of coverage prices for Toyota Tundra models. Learning as much as possible about how insurance rates are calculated can be of help when making informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tundra Regular Cab 2WD||$156||$274||$392||$24||$118||$964||$80|
|Tundra SR/5 Double Cab 2WD||$180||$332||$392||$24||$118||$1,046||$87|
|Tundra SR/5 Crew Max 2WD||$180||$332||$392||$24||$118||$1,046||$87|
|Tundra Regular Cab 4WD||$202||$332||$392||$24||$118||$1,068||$89|
|Tundra Double Cab 4WD||$202||$332||$392||$24||$118||$1,068||$89|
|Tundra SR/5 Double Cab 4WD||$202||$332||$392||$24||$118||$1,068||$89|
|Tundra Limited Double Cab 2WD||$202||$392||$392||$24||$118||$1,128||$94|
|Tundra Limited Crew MAX 2WD||$202||$392||$392||$24||$118||$1,128||$94|
|Tundra Limited Crew MAX 4WD||$226||$392||$392||$24||$118||$1,152||$96|
|Tundra SR/5 Crew Max 4WD||$226||$392||$392||$24||$118||$1,152||$96|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, homeowner, and multi-vehicle. Price information does not factor in zip code location which can modify price quotes considerably.
How accidents and violations affect rates
The illustration below shows how traffic citations and at-fault accidents can affect Toyota Tundra car insurance rates for each different age category. The premium estimates are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are applied.
Car insurance rates by age and gender
The illustration below visualizes the comparison of Toyota Tundra insurance costs for male and female drivers. The rate quotes are based on no violations or claims, comprehensive and collision coverage, $250 deductibles, marital status is single, and no additional discounts are factored in.
Full coverage versus liability only rates
The diagram below shows the comparison of Toyota Tundra insurance premiums with liability coverage only compared to full coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are factored in.
Deciding between full coverage and liability only
There is no written rule that is best for determining when to drop physical damage coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s say your Toyota Tundra replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company would pay you is $6,000 after the policy deductible has been paid. If it’s costing in excess of $600 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
There are a few cases where eliminating full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.
Here’s why insurance is not optional
Even though it’s not necessarily cheap to insure a Toyota in Virginia Beach, insurance may be required for several reasons.
- Just about all states have minimum mandated liability insurance limits which means state laws require a specific level of liability coverage in order to get the vehicle licensed. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you took out a loan on your Toyota Tundra, it’s guaranteed your bank will make it a condition of the loan that you have physical damage coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank may buy a policy for your Toyota at a significantly higher premium and require you to fork over the higher premium.
- Insurance protects not only your car but also your assets. Insurance will pay for many types of medical costs for both you and anyone you injure as the result of an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If your Toyota gets damaged, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.
The benefits of insuring your Tundra are definitely more than the cost, particularly for liability claims. On average, a vehicle owner in Virginia Beach is wasting up to $865 each year so you should quote rates at every policy renewal to ensure rates are inline.
Cheaper rates on Toyota Tundra insurance in Virginia Beach with these discounts
Some insurers don’t list every discount they offer in a way that’s easy to find, so we break down both the well known in addition to some of the lesser obvious credits available to you. If you check and find you aren’t receiving every discount you deserve, you may be paying too high a price.
- Discount for Life Insurance – Insurance companies who offer life insurance give a small discount if you purchase a life policy as well.
- Theft Deterrent System – Cars, trucks, and SUVs optioned with advanced anti-theft systems have a lower chance of being stolen and qualify for as much as a 10% discount.
- Driver’s Ed – Teen drivers should participate in a local driver’s education class if it’s offered in school.
- New Car Discount – Buying car insurance coverage on a new vehicle is cheaper compared to insuring an older model.
- Accident-Free Discounts – Insureds with no claims or accidents pay less compared to drivers who are more careless.
- Multi-car Discount – Insuring multiple cars or trucks with one company may reduce the rate for each vehicle.
- Early Signing – A few larger companies give discounts for signing up before your current Tundra insurance policy expires. This discount can save up to 10%.
- Early Payment Discounts – If you pay your bill all at once instead of paying each month you may reduce your total bill.
As is typical with insurance, many deductions do not apply to all coverage premiums. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Just because you may think it’s possible to get free car insurance, companies wouldn’t make money that way. But any discount will lower the premium cost.
The diagram below visualizes the comparison of Toyota Tundra insurance premiums with and without discounts being applied to the rates. The premiums assume a female driver, no tickets, no at-fault accidents, Virginia state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, multi-car, safe-driver, homeowner, and multi-policy discounts applied.
For a list of insurance companies with discount rates in Virginia, click here to view.
When to get advice from an agent
Many drivers just prefer to go talk to an agent. Licensed agents are trained risk managers and help file insurance claims. One of the best bonuses of comparing auto insurance online is you can get cheap rate quotes and still have a local agent.
Upon completion of this form (opens in new window), the coverage information is emailed to insurance agents in Virginia Beach that provide free Virginia Beach car insurance quotes for your insurance coverage. It’s much easier because you don’t need to do any legwork because quoted prices will be sent immediately to you. If you have a need to compare prices from a specific insurance company, you would need to search and find their rate quote page to submit a rate quote request.
Finding the right insurer requires more thought than just a cheap price quote. The answers to these questions are important, too.
- What company holds the largest book of business for them?
- Which members of your family are coverage by the policy?
- How much can you save by raising your physical damage deductibles?
- Who are their largest clients?
- Does the agency have a current Errors and Omissions policy?
- Did they already check your driving record and credit reports?
- Do they have designations such as AIC, CPCU, or CIC?
- How is replacement cost determined on your vehicle?
Do I just need basic coverages?
When selecting the best auto insurance coverage for your vehicles, there really is not a perfect coverage plan. Everyone’s situation is unique.
These are some specific questions can aid in determining whether your personal situation could use an agent’s help.
- Should I rate my vehicle as business use?
- What does medical payments coverage do?
- Is my Toyota Tundra covered for smoke damage?
- Are there any extra discounts I can get?
- Should I pay a claim out-of-pocket?
- Am I covered when driving a rental car?
- Is business property covered if stolen from my car?
- At what point should I drop full coverage?
- What is GAP insurance?
- Do I really need UM/UIM coverage?
If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. If you don’t have a local agent, complete this form. It’s fast, free and can provide invaluable advice.
Shop smart and save
Cheaper Toyota Tundra insurance in Virginia Beach can be sourced on the web in addition to local insurance agencies, and you need to price shop both in order to have the best price selection to choose from. Some insurance companies may not have online rate quotes and these smaller companies work with local independent agencies.
When buying insurance coverage, it’s very important that you do not buy lower coverage limits just to save a few bucks. There are many occasions where consumers will sacrifice uninsured motorist or liability limits and discovered at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase a proper amount of coverage at an affordable rate and still be able to protect your assets.
You just read a lot of techniques to get a better price on Toyota Tundra insurance in Virginia Beach. The key concept to understand is the more price quotes you have, the better your chances of lowering your rates. Consumers could even find that the lowest prices come from a small mutual company.
Additional information is located below:
- Teen Driving Statistics (iihs.org)
- Who Has Cheap Virginia Beach Car Insurance Rates for a Toyota Camry? (FAQ)
- Who Has Affordable Car Insurance Rates for a Learners Permit in Virginia Beach? (FAQ)
- How Much is Car Insurance for Teenage Females in Virginia Beach? (FAQ)
- How Much is Car Insurance for a Ford Fusion in Virginia Beach? (FAQ)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Steps to Take After an Auto Accident (Insurance Information Institute)