Auto Insurance Quotes for a Toyota Camry in Louisville

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.

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
Get Your Own Custom Quote Go

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
Get Your Own Custom Quote Go

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.

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

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.

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.

View more agents

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.

View more agents

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.

For more information, link through to the articles below: