Cheapest Insurance for a Toyota Corolla in Nashville

Discount Toyota Corolla insuranceThe recommended way to get budget Toyota Corolla insurance in Nashville is to compare quotes once a year from different companies who can sell car insurance in Tennessee. You can shop around by following these guidelines.

  1. Take a few minutes and learn about individual coverages and the things you can change to prevent expensive coverage. Many risk factors that are responsible for high rates such as getting speeding tickets and a poor credit score can be controlled by paying attention to minor details.
  2. Request price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like GEICO and Allstate, while independent agents can give you price quotes for a wide range of insurance providers.
  3. Compare the new rates to the premium of your current policy to see if switching to a new carrier will save money. If you can save money and decide to switch, make sure coverage is continuous and does not lapse.

One tip to remember is that you use similar coverage information on every price quote and and to get price quotes from as many companies as feasibly possible. This guarantees a fair rate comparison and a thorough price selection.

A recent insurance study revealed that the vast majority of drivers have bought insurance from the same company for more than four years, and practically 40% of insurance customers have never shopped around. Most drivers in America could save an average of $860 each year by just comparing quotes, but most undervalue how much they could save if they just switched companies.

Quoting and buying the most affordable protection in Nashville is not as hard as you think. Practically anyone who is looking for a better price on car insurance should be able to find better rates. Although Tennessee vehicle owners can benefit from knowing how insurance companies price online insurance because it varies considerably.

Auto insurance discounts help lower rates for Toyota Corolla insurance in Nashville

Some insurers do not list all available discounts in an easy-to-find place, so the list below contains both well-publicized as well as the least known credits available to you.

Please keep in mind that some credits don’t apply to the overall cost of the policy. Most only apply to specific coverage prices like liability, collision or medical payments. Just because you may think it’s possible to get free car insurance, it’s just not the way it works. But all discounts will definitely reduce the cost of your policy.

The illustration below visualizes the comparison of Toyota Corolla car insurance costs with and without discounts applied to the premium. The premiums are based on a female driver, no tickets, no at-fault accidents, Tennessee 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 claim-free, multi-car, multi-policy, marriage, homeowner, and safe-driver discounts applied.

Car insurance companies who may offer these benefits include:

Before buying, ask each company or agent which discounts can lower your rates. All car insurance discounts may not apply to policies in your area. To locate auto insurance companies with discount rates in Nashville, follow this link.

The quickest way to compare rate quotes for Toyota Corolla insurance in Nashville is to know most of the bigger providers have advanced systems to provide you with free rate quotes. To start a quote, the only thing you need to do is give them some information like how much you drive, marital status, how your vehicles are used, and an estimate of your credit level. Your rating data is submitted instantly to insurance carriers in your area and you get price estimates immediately.

To compare lower-cost Toyota Corolla insurance rates now, click here and complete the form.

The auto insurance companies shown below have been selected to offer comparison quotes in Tennessee. To buy the best car insurance in TN, it’s a good idea that you visit as many as you can to find the most affordable auto insurance rates.

Rate information and statistics

The premium information below outlines estimates of prices for Toyota Corolla models. Having a good grasp of how premiums are figured is important to be able to make smart policy decisions.

Toyota Corolla Insurance Rates in Nashville, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $118 $288 $326 $20 $98 $850 $71
Corolla S $118 $288 $326 $20 $98 $850 $71
Corolla XLE $118 $288 $326 $20 $98 $850 $71
Corolla XRS $134 $288 $326 $20 $98 $866 $72
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Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate quotes do not factor in specific location which can lower or raise premiums substantially.

Comparison of policy deductibles

A question often asked by Nashville drivers is how high should the deductibles for physical damage be. The comparisons below summarize the rate fluctuation between low and high physical damage coverage deductibles. The first rate table uses a $100 deductible for physical damage and the second set of rates uses a $500 deductible.

Toyota Corolla insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $248 $528 $288 $18 $86 $1,193 $99
Corolla S $248 $528 $288 $18 $86 $1,193 $99
Corolla XLE $248 $528 $288 $18 $86 $1,193 $99
Corolla XRS $280 $528 $288 $18 $86 $1,225 $102
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Toyota Corolla insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $182 $358 $288 $18 $86 $932 $78
Corolla S $182 $358 $288 $18 $86 $932 $78
Corolla XLE $182 $358 $288 $18 $86 $932 $78
Corolla XRS $204 $358 $288 $18 $86 $954 $80
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Rate quotes do not factor in garaging location in Nashville which can lower or raise insurance rates significantly.

Based on the above data, using a $100 deductible costs about $21 more each month or $252 a year across all Toyota Corolla models than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you average more than 19 months between claims, you would come out ahead by selecting a higher deductible.

The diagram below demonstrates how deductible levels and can raise or lower Toyota Corolla insurance premiums for different age categories. The price estimates are based on a married female driver, comp and collision included, and no discounts are applied to the premium.

Insurance rate increases from tickets or accidents

The example below shows how speeding tickets and fender-benders can influence Toyota Corolla car insurance rates for different insured age categories. Data assumes a married female driver, comp and collision included, $250 deductibles, and no discounts are factored in.

Males versus Females

The information below illustrates the comparison of Toyota Corolla premium costs for male and female drivers. The rates are based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, drivers are single, and no discounts are applied.

Cost difference between full coverage and liability

The diagram below shows the comparison of Toyota Corolla annual premium costs with and without full coverage. Data assumes no violations or claims, $100 deductibles, marital status is single, and no discounts are applied to the premium.

When to stop buying physical damage coverage

There is no definitive formula that is best for determining when to drop comp and collision coverage, but there is a guideline you can consider. If the annual cost of having full coverage is 10% or more of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your Toyota Corolla replacement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $3,000 after paying your deductible. If it’s costing in excess of $300 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some cases where buying only liability insurance is not a good idea. If you still have a loan on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.

The Toyota Corolla Insurance Cost Equation

Consumers need to have an understanding of the factors that help calculate auto insurance rates. If you understand what determines base rates, this allows you to make good choices that can help you get lower premium levels. Lots of things are used in the calculation when you get your auto insurance bill. Most are fairly basic like a motor vehicle report, but some are more transparent such as your marital status or how safe your car is.

More policies can equal more savings – Most larger companies afford better rates to buyers who have multiple policies with them. It’s known as a multi-policy discount. Discounts can add up to 10 percent or more. If you currently are using one company, it’s still a good idea to compare other company rates to help ensure you have the lowest rates. Drivers may still find a better deal by insuring with multiple companies.

Prevent your car from being stolen – Choosing a vehicle with a theft deterrent system can earn a premium discount. Theft prevention devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent car theft and help bring rates down.

Performance impacts insurance costs – The performance level of the vehicle you are trying to find cheaper insurance for makes a huge difference in how high your rates are. Lower cost passenger vehicles normally have pretty low rates, but the cost you end up paying is determined by many additional factors.

The data below uses these variables: single female driver age 20, full coverage with $100 deductibles, and no discounts or violations. It illustrates Toyota Corolla car insurance rates compared to other models of vehicles that have different performance rating factors.

Better prices for uninterrupted coverage – Driving without insurance coverage in place is illegal and companies may charge more for letting your coverage cancel without a new policy in place. And not only will your rates increase, the inability to provide proof of insurance could result in a hefty fine and possibly a revoked license. You may then have to provide proof of insurance in the form of an SR-22 filing with the Tennessee DMV.

Drive less and pay lower prices – Driving more miles every year the higher your rate. The majority of insurers apply a rate based on their usage. Cars and trucks that sit idle most of the time receive better premium rates than those that get driven frequently. A policy that improperly rates your Corolla may be costing you higher rates. Ask your agent if your vehicle rating reflects how each vehicle is driven, because improper ratings can cost you money.

Toyota Corolla historical loss data – Insurers use statistical claims data as a way to help calculate a profitable premium price. Vehicles that tend to have higher number or severity of losses will cost more to insure. The next table shows the collected loss data for Toyota Corolla vehicles.

For each coverage type, the loss probability for all vehicles, as a total average, is a value of 100. Percentage numbers below 100 represent a good loss history, while values that are above 100 indicate higher probability of having a loss or statistically larger claims.

Toyota Corolla Insurance Claim Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Toyota Corolla 133 111 94 156 158 128

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

When in doubt talk to an agent

Keep in mind that when it comes to choosing proper insurance coverage for your personal vehicles, there really is not a “perfect” insurance plan. Your situation is unique so your insurance needs to address that. Here are some questions about coverages that might help in determining whether or not you will benefit from professional help.

If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, complete this form or you can go here for a list of companies in your area.

Local Nashville insurance agencies

Some consumers would prefer to go talk to an agent and that is not a bad decision A good thing about price shopping on the web is that drivers can save money and get cheap insurance rates but still work with a licensed agent. And supporting neighborhood agents is definitely important in Nashville.

Insurance agents in NashvilleTo help locate an agent, after submitting this form (opens in new window), your information is immediately sent to insurance agents in Nashville that can give you free Nashville car insurance quotes for your insurance coverage. There is no need to do any legwork since rate quotes are delivered directly to you. You’ll get the best rates without a big time investment. If you need to compare prices from a particular provider, you can always go to their quote page and submit a quote form there.

If you are searching for a good insurance agency, it’s helpful to know the types of insurance agents and how they can write your policy. Insurance agencies in Nashville can be classified as either exclusive or independent agents depending on their company appointments.

Independent Agents

These type of agents do not have single company limitations so they can insure your vehicles with many different companies depending on which coverage is best. If they find a lower price, they can switch companies in-house which is easy for the insured.

When comparing rates, you will want to check rates from several independent agencies so that you can do a thorough price comparison.

The following are Nashville independent agents who may be able to give you cheap rate quotes.

208 McGavock Pike ANashville, TN 37214(615) 885-5882View Map

1311 Antioch PikeNashville, TN 37211(615) 834-7106View Map

3225 Gallatin PikeNashville, TN 37216(615) 645-1900View Map

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Exclusive Insurance Agents

These agents work for only one company like Farmers Insurance and State Farm. Exclusive agents cannot provide other company’s prices so they have no alternatives for high prices. These agents are very knowledgeable on what they offer which helps overcome the inability to quote other rates.

Listed below are Nashville exclusive agencies willing to provide comparison quotes.

2209 Crestmoor Rd #200Nashville, TN 37215(615) 383-0449View Map

2817 West End Ave #209Nashville, TN 37203(615) 321-3388View Map

3708 Nolensville Rd cNashville, TN 37211(615) 832-0630View Map

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Choosing a insurance agency shouldn’t rely on just the price. Below are some questions you should ask.

Car insurance just makes sense

Despite the potentially high cost of Toyota Corolla insurance, maintaining insurance is most likely required but also gives you several important benefits.

First, the majority of states have minimum liability requirements which means it is punishable by state law to not carry a specific minimum amount of liability in order to be legal. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.

Second, if your vehicle has a lienholder, it’s guaranteed your bank will make it a condition of the loan that you have comprehensive coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank may insure your Toyota for a lot more money and require you to reimburse them much more than you were paying before.

Third, insurance safeguards both your Toyota and your assets. It will also pay for most medical and hospital costs that are the result of an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if anyone sues you for causing an accident. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.

The benefits of carrying enough insurance more than offset the price you pay, particularly if you ever have a claim. But the average driver in Tennessee overpays more than $869 every year so it’s very important to do a rate comparison at least once a year to ensure rates are competitive.

Car insurance savings summarized

We just presented a lot of tips how to shop for Toyota Corolla insurance online. The key concept to understand is the more rate quotes you have, the better your chances of lowering your auto insurance rates. Consumers may even find the most savings is with a small local company. They often have lower auto insurance rates on specific markets compared to the large companies like Progressive and GEICO.

When buying insurance coverage, it’s not a good idea to reduce needed coverages to save money. In many cases, drivers have reduced liability coverage limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to get the best coverage possible at an affordable rate, but do not sacrifice coverage to save money.

More affordable car insurance in Nashville is attainable online and also from your neighborhood Nashville agents, and you need to price shop both to have the best selection. There are still a few companies who may not offer price quotes online and most of the time these smaller providers prefer to sell through local independent agencies.

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