Insurance for Toyota CamryThink you have an expensive car insurance policy? It's quite common and there are lots of people in the same boat.

Shocking but true, nearly 70% of drivers have bought car insurance from the same company for more than four years, and nearly 40% of drivers have never compared car insurance rates at all. The average driver in Massachusetts could save up to 45% every year just by shopping around, but they just assume it's a time-consuming process to shop around.

Popular companies such as Progressive, State Farm and GEICO promote their brand names with advertising and it is difficult to see past the corporate glitz and do the work needed to find the best deal.

If you have insurance now, you will definitely be able to lower your rates using this strategy. Buying the cheapest insurance in Worcester can initially seem challenging. Nevertheless, Massachusetts car owners benefit from understanding the methods companies use to price online insurance because rates are impacted by many factors.

Best companies for Toyota Camry insurance

The companies shown below are ready to provide free quotes in Massachusetts. If the list has multiple companies, we recommend you visit two to three different companies to get a more complete price comparison.

Toyota Camry Insurance Rate Estimates in Worcester, MA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $202 $396 $434 $26 $130 $1,188 $99
Camry SE $138 $332 $378 $22 $114 $984 $82
Camry XLE $154 $316 $340 $20 $102 $932 $78
Camry Hybrid $182 $344 $356 $22 $106 $1,010 $84
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Table data represents married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Massachusetts minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Price information does not factor in Worcester location which can revise rates substantially.

An analysis of deductible level

When comparing auto insurance rates, the most common question is how high should the deductibles for physical damage be. The comparisons below lay out the difference in cost between high and low policy deductibles. The first rate estimation uses a $250 deductible and the second pricing table uses a $1,000 deductible.

Toyota Camry insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $258 $436 $334 $20 $100 $1,173 $98
Camry SE $258 $512 $334 $20 $100 $1,249 $104
Camry XLE $258 $512 $334 $20 $100 $1,249 $104
Camry Hybrid $292 $512 $378 $22 $114 $1,343 $112
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Toyota Camry insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $160 $274 $334 $20 $100 $888 $74
Camry SE $160 $322 $334 $20 $100 $936 $78
Camry XLE $160 $322 $334 $20 $100 $936 $78
Camry Hybrid $180 $322 $378 $22 $114 $1,016 $85
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Massachusetts minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Rate quotes do not factor in specific garaging location which can change insurance rates greatly.

We can derive from the above data that using a $250 deductible costs about $26 more each month or $312 for a full year than quoting the higher $1,000 deductible. Because you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally average at a minimum 29 months between claim filings, you would more than likely save some money if you choose a higher deductible. The numbers below show the way you can make your own decision.

Average monthly premium for $250 deductibles: $105
Average monthly premium for $1,000 deductibles (subtract): - $79
Monthly savings from raising deductible: $26
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $26
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 29 months

Full coverage versus liability only rates

The illustration below illustrates the difference between Toyota Camry annual premium costs with and without physical damage coverage. The price estimates are based on no accidents or driving violations, $100 deductibles, married male driver, and no discounts are applied to the premium.

Guidelines for eliminating full coverage

There isn't a written rule of when to phase out comp and collision coverage, but there is a general guideline. If the annual cost of having full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let's say your Toyota Camry claim settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $5,000 after paying your policy deductible. If you are currently paying more than $500 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where only buying liability is not recommended. If you still owe money on your vehicle, you have to maintain full coverage to protect the lienholder's interest. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should maintain full coverage.

Cheaper Worcester auto insurance rates with discounts

Car insurance can cost a lot, but you may be missing some discounts to cut the cost considerably. Larger premium reductions will be automatically applied at the time of purchase, but a few must be specially asked for before they will apply.

A little disclaimer on discounts, some credits don't apply to the entire policy premium. Some only reduce the price of certain insurance coverages like medical payments or collision. Despite the fact that it seems like you can get free auto insurance, auto insurance companies aren't that generous.

The best auto insurance companies and their possible discounts are outlined below.

Check with each insurance company the best way to save money. Discounts might not be available to policyholders in your area. For a list of insurance companies with significant discounts in Worcester, follow this link.

Neighborhood Worcester auto insurance agents

A lot of people still like to buy from a licensed agent and we recommend doing that One of the great benefits of comparing rate quotes online is that you can obtain cheap insurance rates and still choose a local agent. Supporting local insurance agents is definitely important in Worcester.

Insurance agents in WorcesterUpon completion of this simple form, your insurance coverage information is immediately sent to companies in Worcester who will give competitive quotes for your insurance coverage. You don't have to contact an agency as quotes are delivered directly to your email. You can find lower rates AND a local agent. In the event you want to quote rates from a specific insurance company, just visit that company's website and fill out their quote form.

Selecting a insurance company shouldn't rely on just the bottom line cost. Here are some questions you might want to ask.

The ad said I'd save $423 a year!

Auto insurance companies such as GEICO, State Farm and Progressive constantly bombard you with ads on TV and radio. They all seem to try to convey promises about saving some big amount after switching your policy. How does every company make almost identical claims? This is the way they can do it.

Companies provide the lowest rates for the type of driver that will generate a profit. An example of this type of insured could be over the age of 50, insures multiple vehicles, and has a high credit rating. A customer getting a price quote who matches that profile will qualify for the lowest premium rates in Worcester and have a good chance to cut their rates substantially.

Potential customers who do not meet this ideal profile must pay higher premiums with the end result being the customer buying from a different company. The trick is to say "customers who switch" not "everyone who quotes" can get the lowest rates when switching. That's why insurance companies can claim big savings.

Because of this risk profiling, drivers should get a wide range of price quotes. Because you never know which auto insurance company will have the lowest Toyota Camry insurance in Worcester.

Car insurance coverage information

Understanding the coverages of car insurance helps when choosing which coverages you need for your vehicles. Policy terminology can be ambiguous and reading a policy is terribly boring. Listed below are typical coverages found on most car insurance policies.

Liability auto insurance

This can cover damage or injury you incur to other people or property in an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 20/40/5 which stand for a limit of $20,000 per injured person, a per accident bodily injury limit of $40,000, and $5,000 of coverage for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit with no separate limits for injury or property damage.

Liability insurance covers claims such as court costs, funeral expenses and repair costs for stationary objects. The amount of liability coverage you purchase is your choice, but buy higher limits if possible. Massachusetts requires drivers to carry at least 20/40/5 but you should think about purchasing more coverage.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle's occupants when the "other guys" do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle's occupants as well as damage to your Toyota Camry.

Because many people only purchase the least amount of liability that is required (20/40/5 in Massachusetts), their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Frequently these limits are set the same as your liability limits.

Collision coverage protection

This pays to fix your vehicle from damage from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like hitting a mailbox, backing into a parked car and hitting a parking meter. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. You can also choose a higher deductible on your Camry in order to get cheaper collision rates.

Medical expense coverage

Medical payments and Personal Injury Protection insurance pay for bills like dental work, hospital visits, pain medications and EMT expenses. They are often used to fill the gap from your health insurance plan or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Comprehensive protection

This will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like fire damage, a broken windshield, theft and hail damage. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle's value consider dropping full coverage.

Quote. Compare. Save.

When trying to cut insurance costs, it's very important that you do not buy less coverage just to save a little money. There are many occasions where consumers will sacrifice collision coverage to discover at claim time that the few dollars in savings costed them thousands. The proper strategy is to get the best coverage possible at an affordable rate, but do not skimp to save money.

In this article, we presented many ideas to lower your Toyota Camry insurance rates in Worcester. The most important thing to understand is the more rate comparisons you have, the better your comparison will be. Consumers may even find the biggest savings come from the smaller companies. These smaller insurers may cover specific market segments cheaper as compared to the big name companies such as State Farm, GEICO and Nationwide.

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