Compare Toyota Yaris Insurance Quotes in Louisville

Insurance quote for Toyota Yaris in LouisvilleFinding the cheapest insurance for a Toyota Yaris in Kentucky can be an all-consuming task, but you can learn our auto insurance buying tips to make it easier.

There are more efficient ways to buy auto insurance and we’ll show you the quickest way to price shop coverage for your Toyota and get the cheapest rates from both online companies and Louisville agents.

Unbelievably, almost 70% of drivers have remained with the same auto insurance company for at least four years, and approximately 38% of consumers have never quoted rates to find cheap coverage. Consumers in Kentucky could save approximately 30% a year by just shopping around, but they just don’t understand the rate savings if they switch to a new company.

Consumers need to do rate comparisons before your next renewal because prices change quite often. Just because you found the best rate on Toyota Yaris insurance in Louisville on your last policy a different company probably has better premium rates today. Forget anything you know (or think you know) about auto insurance because you’re about to learn the fastest way to eliminate unnecessary coverages and save money on Toyota Yaris insurance in Louisville.

Finding quotes for affordable coverage in Louisville is not as hard as you may think. If you are already insured or are looking for a new policy, you can use these tips to get lower rates without having to cut coverage. Consumers only need to know the proper way to compare rates from many different companies online.

Toyota Yaris insurance charts and tables

The rate table displayed next showcases a range of insurance policy prices for Toyota Yaris models. Learning as much as possible about how insurance policy premiums are formulated can assist in making informed decisions when comparing rate quotes.

Toyota Yaris Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Yaris 2-Dr Hatchback $134 $308 $446 $26 $134 $1,048 $87
Yaris 4-Dr Hatchback $134 $308 $396 $24 $118 $980 $82
Yaris 4-Dr Sedan $134 $308 $396 $24 $118 $980 $82
Yaris S 2-Dr Hatchback $152 $308 $446 $26 $134 $1,066 $89
Yaris S 4-Dr Hatchback $152 $308 $396 $24 $118 $998 $83
Yaris S 4-Dr Sedan $152 $308 $396 $24 $118 $998 $83
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Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Price estimates do not factor in vehicle garaging location which can influence coverage prices greatly.

Deductible analysis

A question often asked by Louisville drivers is which deductible level should you buy. The following tables highlight the rate difference when you choose different coverage deductibles. The first rate table uses a $100 deductible for comprehensive and collision coverage and the second set of rates uses a $500 deductible.

Toyota Yaris insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Yaris 2-Dr Hatchback $244 $508 $368 $22 $110 $1,277 $106
Yaris 4-Dr Hatchback $244 $508 $326 $20 $98 $1,221 $102
Yaris 4-Dr Sedan $244 $508 $326 $20 $98 $1,221 $102
Yaris S 2-Dr Hatchback $280 $508 $368 $22 $110 $1,313 $109
Yaris S 4-Dr Hatchback $280 $508 $326 $20 $98 $1,257 $105
Yaris S 4-Dr Sedan $280 $508 $326 $20 $98 $1,257 $105
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Toyota Yaris insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Yaris 2-Dr Hatchback $178 $342 $368 $22 $110 $1,020 $85
Yaris 4-Dr Hatchback $178 $342 $326 $20 $98 $964 $80
Yaris 4-Dr Sedan $178 $342 $326 $20 $98 $964 $80
Yaris S 2-Dr Hatchback $206 $342 $368 $22 $110 $1,048 $87
Yaris S 4-Dr Hatchback $206 $342 $326 $20 $98 $992 $83
Yaris S 4-Dr Sedan $206 $342 $326 $20 $98 $992 $83
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Rate information does not factor in vehicle location which can revise premiums substantially.

Based on the above data, using a $100 deductible will cost in the ballpark of $22 more each month or $264 every year than choosing the higher $500 deductible. Because you would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally go more than 18 months between claim filings, you would more than likely save some money going with the higher deductible.

The chart below illustrates how choosing a deductible and can influence Toyota Yaris insurance premiums for different insured age categories. The data is based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Comparison of car insurance rates by gender

The example below compares Toyota Yaris insurance premiums for male and female drivers. The premiums assume no claims or driving citations, comprehensive and collision coverage, $250 deductibles, single status, and no policy discounts are applied.

Difference between liability only and full coverage rates

The information below visualizes the comparison of Toyota Yaris insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The premiums assume no accidents, no driving violations, $100 deductibles, single status, and no discounts are factored in.

When to drop comprehensive and collision coverage

There is no clear-cut rule of when to phase out comp and collision coverage, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let’s say your Toyota Yaris settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $8,000 after the deductible is paid. If you are paying over $800 annually to have full coverage, then you may want to consider only buying liability coverage.

There are a few cases where only buying liability is not advised. If you still have a loan on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not opt for liability only.

Why You Might Pay Lower Rates in Louisville

Multiple criteria are used in the calculation when you get your auto insurance bill. Some of the criteria are obvious such as traffic violations, but some are less apparent such as your credit history or your commute time.

Shown below are some of the factors used by companies to determine your rate level.

You might want pay the small claims yourself – Auto insurance companies in Kentucky provide better rates to drivers who are claim-free. If you file a lot of claims you can definitely plan on increased rates or even have your policy non-renewed. Insurance coverage is designed for the large, substantial claims.

You may save more by consolidating policies – The majority of insurance companies allow a discount to policyholders who consolidate policies with them. It’s known as a multi-policy discount. Even if you qualify for this discount already, you may still want to comparison shop to verify if the discount is saving money. Drivers may still find a better deal by buying insurance from a different company.

High physical damage deductibles cost less – Physical damage coverage, also known as collision and other-than-collision, protects your Toyota from damage. A few examples of covered claims could be running into the backend of another car, collision with an animal, and windstorm damage. Physical damage deductibles define the amount you are willing to pay out-of-pocket if the claim is covered. The more you’re willing to pay, the less your insurance will be.

Better drivers pay the best rates – Drivers with clean records receive lower rates than their less careful counterparts. Having just one speeding ticket or other violation could increase your next policy renewal to the point where it’s not affordable. Drivers unfortunate enough to have careless violations such as DUI or reckless driving may face state-mandated requirements to submit a SR-22 form with their state motor vehicle department in order to continue driving.

The example below illustrates how speeding tickets and at-fault claims influence Toyota Yaris annual premium costs for each age group. The prices are based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.

Toyota Yaris insurance loss probability – Insurers analyze past claim statistics when they file their rates in each state. Vehicles that are shown to have higher number or severity of losses will have higher rates for specific coverages. The table below demonstrates the historical loss data for Toyota Yaris vehicles.

For each policy coverage, the claim amount for all vehicles, regardless of manufacturer or model, is a value of 100. Percentage values below 100 represent a good loss history, while numbers above 100 indicate frequent claims or larger claims.

Toyota Yaris Insurance Claim Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Toyota Yaris 94 88 92

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Compare but don’t skimp

When buying insurance coverage, don’t be tempted to reduce needed coverages to save money. There have been many situations where an accident victim reduced comprehensive coverage or liability limits only to regret at claim time they didn’t purchase enough coverage. The proper strategy is to purchase a proper amount of coverage at the lowest possible cost and still be able to protect your assets.

Insureds leave their current company for many reasons like not issuing a premium refund, poor customer service, an unsatisfactory settlement offer and extreme rates for teen drivers. It doesn’t matter what your reason, finding the right car insurance provider is not as hard as you think.

Throughout this article, we presented quite a bit of information on how to shop for Toyota Yaris insurance online. The key concept to understand is the more providers you compare, the more likely it is that you will get a better rate. Consumers could even find that the best rates are with some of the smallest insurance companies.

Steps to quoting cheaper Toyota Yaris insurance in Louisville

If you want to save the most money, the best way to find discount Toyota Yaris insurance is to regularly compare price quotes from companies that insure vehicles in Louisville.

First, learn about coverages and the factors you can control to drop your rates. Many rating criteria that drive up the price such as traffic tickets, fender benders, and poor credit can be controlled by making minor driving habit or lifestyle changes.

Second, request rate estimates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like GEICO or State Farm, while independent agents can give you price quotes from multiple sources.

Third, compare the new quotes to your existing policy to see if you can save by switching companies. If you can save some money and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.

A good tip to remember is to use identical deductibles and limits on every quote and and to analyze all possible companies. Doing this enables an accurate price comparison and a complete selection of prices.

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