If you want to save the most money, the best way to get affordable Toyota Tacoma insurance is to begin comparing prices regularly from providers in Nashville.
- Try to understand how car insurance works and the measures you can take to keep rates low. Many rating factors that result in higher rates like speeding tickets, careless driving and a low credit score can be remedied by making minor changes to your lifestyle. Keep reading for additional tips to prevent high prices and get additional discounts.
- Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give prices from a single company like Progressive or State Farm, while agents who are independent can provide prices for many different companies. Start a quote
- Compare the new rate quotes to your current policy premium and see if there is a cheaper rate. If you can save some money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
The most important part of shopping around is to make sure you’re comparing the same level of coverage on every quote and and to compare as many companies as possible. This guarantees an apples-to-apples comparison and the most accurate and complete price analysis.
It’s a known fact that insurance companies don’t want policyholders to compare prices from other companies. Insureds who shop for lower rates are inclined to buy a different policy because they have a good chance of finding good coverage at a lower price. A recent study showed that drivers who compared prices regularly saved over $865 annually compared to other drivers who never shopped around for cheaper prices.
If finding low prices for Toyota Tacoma insurance in Nashville is your intention, then having an understanding of the best ways to shop for insurance premiums can help simplify the process.
We hope to help you learn how to compare rates easily and some tips to save money. If you have car insurance now, you will be able to lower your rates using the concepts covered in this article. Drivers just need to use the least time-consuming way to shop for car insurance online.
Rate information and statistics
The table shown below outlines detailed analysis of insurance premium costs for Toyota Tacoma models. Learning how insurance policy rates are calculated can assist in making informed decisions when comparing rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$142||$258||$278||$16||$82||$776||$65|
|Tacoma X-Runner 2WD||$142||$304||$278||$16||$82||$822||$69|
|Tacoma Double Cab 4WD||$160||$258||$278||$16||$82||$794||$66|
|Tacoma Double Cab TRD Off-Road Package 4WD||$160||$258||$278||$16||$82||$794||$66|
|Tacoma Double Cab TRD Sport Package 4WD||$160||$258||$278||$16||$82||$794||$66|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Premium costs do not factor in specific location which can decrease or increase insurance rates greatly.
The example below highlights how deductible choice and can impact Toyota Tacoma insurance costs for each different age category. Data assumes a single female driver, comp and collision included, and no discounts are applied.
Safe drivers pay cheaper rates
The diagram below illustrates how speeding tickets and at-fault fender-benders increase Toyota Tacoma insurance costs for different ages of insureds. The costs are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.
Cost difference between full coverage and liability
The illustration below compares Toyota Tacoma insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The prices are based on a clean driving record, no claims, $250 deductibles, single status, and no discounts are taken into consideration.
Guidelines for eliminating full coverage
There is no clear-cut rule that works best for making the decision to drop full coverage, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let’s say your Toyota Tacoma claim settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $6,000 after paying the physical damage deductible. If you are paying in excess of $600 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some circumstances where eliminating full coverage is not recommended. If you still have a lienholder on your title, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Nashville Insurance Costs are Influenced by These Factors
The best way to find cheaper car insurance is to take a look at some of the things that help determine your policy premiums. When you know what positively or negatively influences your rates, this helps enable you to make changes that can earn you better car insurance rates.
- Costs increase with policy add-ons – Policies have extra coverages that sound like a good idea at the time when buying car insurance. Things like vanishing deductibles, high-cost glass coverage, and extra equipment coverage are some examples. They may seem like a good idea when talking to your agent, but if you don’t need them eliminate the coverages to reduce your premium.
Gender as a rate factor – Statistics demonstrate that women are safer drivers than men. This data doesn’t prove that men are worse drivers. Males and females have fender benders at a similar rate, but males get into accidents with more damage. Men also tend to have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly.
The example below shows the difference between Toyota Tacoma car insurance rates for male and female drivers. The costs are based on a clean driving record, no at-fault accidents, full physical damage coverage, $250 deductibles, drivers are not married, and no discounts are taken into consideration.
- Good credit equals lower prices – Your credit history is a big factor in determining what you pay. If your credit score could use some work, you could be paying less to insure your Toyota Tacoma by taking the time to improve your credit score. People with very good credit scores tend to be less risk to insure as compared to drivers with lower ratings.
- High deductibles cost less – Comprehensive and collision coverage deductibles define how much you are willing to pay if a claim is determined to be covered. Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Examples of some claims that would be covered are collision with another vehicle, hail damage, and damage from wind. The more damage repair cost the insured is willing to pay, the bigger discount you will receive.
Age of drivers impacts costs – More experienced drivers have been proven to be more responsible, tend to file fewer claims, and receive fewer citations. Youthful drivers are proven to get distracted easily in a vehicle and because of this, their car insurance rates are much higher.
The next chart assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
- See if your company offers a multi-policy discount – Many insurance companies will award better rates to customers that purchase more than one policy. It’s known as a multi-policy discount. The discount can be as much as ten percent or more Even if you qualify for this discount already, you may still want to compare Toyota Tacoma rates in Nashville to help guarantee you have the best rates.
Toyota Tacoma insurance loss data – Insurance companies use claims history in order to profitably underwrite each model. Models that have a higher amount or frequency of claims will cost more for specific coverages.
The table below outlines the insurance loss data for Toyota Tacoma vehicles. For each coverage category, the loss probability for all vehicles combined as an average is set at 100. Percentage values below 100 imply a favorable loss record, while percentage numbers above 100 indicate frequent claims or statistically larger claims.
Toyota Tacoma Insurance Claim Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Tacoma Double Cab 2WD 79 109 70 77 76 92 Toyota Tacoma Double Cab 4WD 82 104 84 64 56 77 Toyota Tacoma Double Cab LWB 2WD 87 108 74 96 Toyota Tacoma Double Cab LWB 4WD 84 104 88 68 57 79 Toyota Tacoma Xtra Cab 2WD 80 105 60 86 75 96 Toyota Tacoma Xtra Cab 4WD 71 90 77 48 51 65BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
One last note
In this article, we covered quite a bit of information on how to find cheap Toyota Tacoma insurance in Nashville. The key concept to understand is the more times you quote, the better likelihood of getting affordable Toyota Tacoma insurance quotes. Consumers may even find the lowest prices come from a company that doesn’t do a lot of advertising. Some small companies may have significantly lower rates on certain market segments as compared to the big name companies such as Allstate and Progressive.
While you’re price shopping online, you should never reduce needed coverages to save money. There are many occasions where someone dropped liability limits or collision coverage and learned later that it was a big mistake. Your goal should be to buy the best coverage you can find for the lowest price but still have enough coverage for asset protection.
Additional detailed information can be found in the articles below:
- Bodily Injury Coverage (Liberty Mutual)
- How Much are Car Insurance Quotes for Handicapped Drivers in Nashville? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Used Cars in Nashville? (FAQ)
- What Auto Insurance is Cheapest for a School Permit in Nashville? (FAQ)
- What Auto Insurance is Cheapest for 19 Year Olds in Nashville? (FAQ)
- How Much are Auto Insurance Quotes for State Employees in Nashville? (FAQ)
- Who Has the Cheapest Auto Insurance for a Nissan Versa in Nashville? (FAQ)
- Who Has Affordable Auto Insurance for Low Mileage Drivers in Nashville? (FAQ)
- Credit and Insurance Scores (Insurance Information Institute)
- Insuring a Leased Car (Insurance Information Institute)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Top Signs Your Brakes are Giving Out (State Farm)