Auto Insurance Quotes for a Toyota Camry in Louisville

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Discount Toyota Camry insuranceAre you looking for more competitive car insurance rates in Louisville, KY? Louisville drivers have lots of choices when trying to find low-cost Toyota Camry insurance. They can either spend hours contacting agents getting price quotes or save time using the internet to find the lowest rates. There is a right way and a wrong way to find car insurance online and you need to know the quickest way to compare rates for your Toyota and locate the lowest price.

You need to compare premium rates at least once a year because prices change quite often. If you had the lowest price on Toyota Camry insurance in Louisville six months ago other companies may now be cheaper. Ignore everything you know about car insurance because you're going to learn the easiest way to lower your annual insurance bill.

Smart Buyers Can Cut Their Insurance Prices

When buying auto insurance it's important to understand some of the things that play a part in calculating your premiums. If you know what controls the rates you pay, this enables you to make decisions that will entitle you to lower auto insurance prices.

  • Which gender costs less? - Over the last 30 years, statistics show that men are more aggressive behind the wheel. However, this does not mean females are better at driving than males. Women and men are responsible for at-fault accidents at about the same rate, but the male of the species have costlier accidents. In addition to higher claims, males also get cited for more serious violations like DUI and reckless driving. Males from age 16 to 21 have the highest risk to insure and thus pay the highest rates.

    The chart below illustrates the difference between Toyota Camry insurance prices for male and female drivers. The premium estimates are based on no violations or claims, full physical damage coverage, $1,000 deductibles, marital status is single, and no discounts are applied.

  • Annual mileage and car insurance prices - The more you drive annually the more it will cost to insure it. Almost all companies price each vehicle's coverage determined by how the vehicle is used. Autos left parked in the garage can be on a lower rate level than cars that get driven a lot. It's always a good idea to double check that your auto insurance declarations sheet is showing the correct usage. Improper usage on your Camry can cost quite a bit.
  • Urban residents pay more - Choosing to live in less populated areas of the country is a positive aspect when insuring your vehicles. Drivers in populated areas tend to have congested traffic and longer commute times. Fewer people translates into fewer accident claims in addition to fewer liability claims.
  • Credit score impact auto insurance premiums - Your credit score factor in determining premium rates. If your credit history could use some work, you could save money insuring your Toyota Camry if you improve your credit rating. People with high credit scores tend to be better drivers and file fewer claims than those with worse credit.
  • Responsible drivers pay the best rates - Your driving citation history has a lot to do with how much you pay for insurance. Getting just one speeding ticket or other violation may increase your cost by as much as thirty percent. Good drivers get better rates than their less careful counterparts. Drivers who get multiple citations like DWI, reckless driving or hit and run convictions may need to maintain a SR-22 with their state's licensing department in order to continue driving.

    The illustration below demonstrates how citations and at-fault collisions can increase Toyota Camry insurance costs for each different age category. The rate quotes are based on a married female driver, full coverage, $100 deductibles, and no additional discounts are factored in.

  • Toyota Camry insurance loss data - Insurance companies use claims history when setting premium prices. Models that are shown to have high amounts or severity of claims will be charged more to insure.

    The table shown below demonstrates the collected loss data for Toyota Camry vehicles. For each coverage category, the claim probability for all vehicles, as a total average, is considered to be 100. Percentages below 100 suggest losses that are better than average, while values that are 100 or greater indicate more frequent claims or an increased likelihood of larger losses.

    Toyota Camry Insurance Loss Statistics
    Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Toyota Camry 110 94 102 148 145 107
    Toyota Camry Hybrid 124 100 110 118 127 96
    BETTER
    AVERAGE
    WORSE

    Statistics from IIHS.org for 2013-2015 Model Years

The car insurance companies shown below offer comparison quotes in Louisville, KY. If you wish to find the best cheap auto insurance in Kentucky, we recommend you compare several of them to find the lowest car insurance rates.

Rates and other information

The coverage information below covers different rate quotes for Toyota Camry models. Having knowledge of how auto insurance premiums are formulated can assist in making smart choices when selecting a policy.

Toyota Camry Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $228 $422 $440 $26 $132 $1,248 $104
Camry SE $228 $496 $440 $26 $132 $1,322 $110
Camry XLE $228 $496 $440 $26 $132 $1,322 $110
Camry Hybrid $256 $496 $498 $30 $150 $1,430 $119
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Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Prices do not factor in vehicle garaging location which can change price quotes significantly.

Can higher deductibles save money?

One of the hardest decisions when shopping for auto insurance is how high should the physical damage coverage deductibles be. The rates shown below show the differences in premium rates when you buy lower versus higher coverage deductibles. The first data table uses a $100 deductible for comp and collision and the second set of prices uses a $1,000 deductible.

Toyota Camry insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $280 $508 $326 $20 $98 $1,257 $105
Camry SE $280 $598 $326 $20 $98 $1,347 $112
Camry XLE $280 $598 $326 $20 $98 $1,347 $112
Camry Hybrid $318 $598 $368 $22 $110 $1,441 $120
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Toyota Camry insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $156 $268 $326 $20 $98 $868 $72
Camry SE $156 $316 $326 $20 $98 $916 $76
Camry XLE $156 $316 $326 $20 $98 $916 $76
Camry Hybrid $176 $316 $368 $22 $110 $992 $83
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Estimates do not factor in zip code location which can modify auto insurance rates noticeably.

Based on this data, we can arrive at the conclusion that using a $100 deductible costs roughly $35 more each month or $420 for a full year across all Toyota Camry models than requesting the higher $1,000 deductible. Because you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you go at least 26 months between claim filings, you would more than likely save some money going with the higher deductible.

How to determine when to raise deductibles

Average monthly premium for $100 deductibles: $112
Average monthly premium for $1,000 deductibles (subtract): - $77
Monthly savings from raising deductible: $35
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $35
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 26 months

The illustration below demonstrates how deductibles and can affect Toyota Camry insurance rates for different age groups. The rates are based on a single female driver, comp and collision included, and no discounts are taken into consideration.

Price comparison of only insuring for liability

The example below shows the comparison of Toyota Camry car insurance rates with full coverage and liability only. The data is based on a clean driving record, no claims, $1,000 deductibles, drivers are not married, and no other discounts are factored in.

Should you pay for full coverage?

There is no specific rule to delete physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of the vehicle's replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let's assume your Toyota Camry claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $2,000 after paying your deductible. If you are paying over $200 a year to have full coverage, then it could be time to drop full coverage.

There are some circumstances where removing full coverage is not in your best interest. If you haven't satisfied your loan, you have to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

Auto insurance is not optional in Kentucky

Despite the high insurance cost for a Toyota Camry in Louisville, buying auto insurance may be required for several reasons.

  • Most states have minimum mandated liability insurance limits which means state laws require a specific level of liability coverage in order to drive the car legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
  • If you bought your vehicle with a loan, it's guaranteed your bank will make it mandatory that you buy full coverage to protect their interest in the vehicle. If coverage lapses or is canceled, the lender may insure your Toyota at a more expensive rate and require you to reimburse them for it.
  • Insurance safeguards both your car and your assets. It will also reimburse you for hospital and medical expenses incurred in an accident. Liability coverage also pays expenses related to your legal defense if you are sued as the result of your driving. If you have damage to your Toyota as the result of the weather or an accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.

The benefits of buying auto insurance outweigh the cost, particularly if you ever have a claim. But the average American driver overpays more than $850 per year so it's recommended you shop around at every policy renewal to be sure current rates are still competitive.

Get discounts on Louisville car insurance

Car insurance is not inexpensive, but there's a good chance there are discounts that could help you make your next renewal payment. A few discounts will be applied when you quote, but some need to be inquired about in order for you to get them.Car insurance discounts

  • Good Student Discount - Excelling in school may save as much as 25% on a Louisville auto insurance quote. Many companies even apply the discount to college students until age 25.
  • New Car Discount - Putting insurance coverage on a new Camry can get you a discount due to better safety requirements for newer models.
  • Renewal Discounts - Select insurance companies give a discount for switching to them prior to the expiration date on your current Camry insurance policy. It's a savings of about 10%.
  • Low Miles Discount - Driving less could be rewarded with better car insurance rates on cars that stay parked.
  • Driver Safety - Taking time to complete a defensive driving course could cut 5% off your bill if you qualify.
  • Active Military Service - Being on active deployment in the military could qualify you for better prices.
  • Anti-theft System - Cars with anti-theft systems have a lower chance of being stolen and therefore earn up to a 10% discount.
  • ABS and Traction Control Discounts - Vehicles that have anti-lock braking systems are safer to drive and the ABS can save up to 10%.

One last thing about discounts, most discounts do not apply to the whole policy. The majority will only reduce the cost of specific coverages such as collision or personal injury protection. So despite the fact that it appears adding up those discounts means a free policy, insurance companies wouldn't stay in business. Any amount of discount will reduce your overall bill.

The chart below shows the comparison of Toyota Camry premium costs with and without some available policy discounts. The premiums are based on a male driver, no claims, a clean driving record, Kentucky state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, safe-driver, multi-policy, marriage, and homeowner discounts applied.

If you would like to view providers who offer online Toyota Camry insurance quotes in Louisville, click here.

Independent and exclusive insurance agents

Some people just prefer to sit down and talk to an agent and that is not a bad decision Licensed agents are very good at helping people manage risk and help file insurance claims. The best thing about price shopping on the web is that you can find cheap car insurance rates and still have an agent to talk to.

Insurance agency in LouisvilleBy using this simple form, the coverage information gets sent to insurance agents in Louisville who will gladly provide quotes to get your business. You won't even need to visit any agencies as quotes are delivered to you instantly. If you want to get a price quote for a specific company, feel free to go to their quote page and fill out the quote form the provide.

Choosing an provider should include more criteria than just a low price. These are some questions your agent should answer.

  • Are they properly licensed to sell insurance in Kentucky?
  • Are they actively involved in the community?
  • Do they offer claims assistance after hours?
  • What company do they have the most business with?
  • What discounts might you be missing?
  • What companies can they write with?
  • Are they full-time agents?

Insurance agent types

When narrowing the list to find a good Louisville insurance agent, you must know there are a couple types of agencies from which to choose. Agents are classified as either exclusive or independent agents depending on their company appointments. Both can do a good job, but it is a good idea to know the difference in the companies they write for because it can factor into which type of agent you select.

Exclusive Agencies

Agents in the exclusive channel normally can only provide a single company's rates such as Allstate, Farmers Insurance or State Farm. Exclusive agencies are unable to compare rates from other companies so they have to upsell other benefits. Exclusive agents are usually well trained on their company's products which can be an advantage. A lot of people use the same exclusive agent mostly because of loyalty to the company rather than low rates.

Below is a list of exclusive agents in Louisville willing to provide price quote information.

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Independent Agents

These agents are not locked into one company and that is an advantage because they can write policies through many companies and possibly get better coverage at lower prices. If they quote lower rates, your policy is moved internally and the insured can keep the same agent.

If you need lower rates, you definitely need to get quotes from several independent agencies to have the most options to choose from. Most can insure with companies you've never heard of that may provide cheaper car insurance rates.

Listed below are Louisville independent insurance agencies that can give you comparison quotes.

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What is the best car insurance company in Louisville?

Picking the right insurer is hard considering how many different insurance companies sell coverage in Kentucky. The ranking data shown below could help you select which auto insurance companies you want to consider comparing price quotes from.

Top 10 Louisville Car Insurance Companies Ranked by Customer Service

  1. USAA
  2. Travelers
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Safeco Insurance
  7. Progressive
  8. State Farm
  9. The Hartford
  10. The General

Top 10 Louisville Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. Erie Insurance
  9. Esurance
  10. The General

You can find cheap coverage

Consumers who switch companies do it for many reasons like extreme rates for teen drivers, not issuing a premium refund, policy cancellation or even denial of a claim. It doesn't matter why you want to switch finding a new company is not as hard as you think.

When you buy Louisville auto insurance online, never buy poor coverage just to save money. Too many times, an insured dropped liability limits or collision coverage only to regret that their decision to reduce coverage ended up costing them more. Your strategy should be to buy enough coverage at the best possible price.

Cheap Toyota Camry insurance in Louisville is possible from both online companies and from local agencies, so get free Louisville auto insurance quotes from both of them to get a complete price analysis. Some companies may not have rates over the internet and usually these small, regional companies sell through independent insurance agents.

How to find affordable Toyota Camry insurance in Louisville

If you want to save money, the best way to save money on Toyota Camry insurance in Louisville is to compare prices once a year from different companies who provide auto insurance in Kentucky.

  1. Read and learn about how your policy works and the things you can change to lower rates. Many risk factors that are responsible for high rates like traffic citations, accidents, and a negative credit score can be improved by making minor changes in your lifestyle.
  2. Request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO and Allstate, while agents who are independent can give you price quotes for many different companies.
  3. Compare the new rate quotes to the premium of your current policy and determine if there is any savings. If you can save money and change companies, make sure there is no lapse between the expiration of your current policy and the new one.

An important bit of advice to remember is to use the same amount of coverage on every quote and to quote with every company you can. This ensures an apples-to-apples comparison and the most accurate and complete price analysis.

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