Auto Insurance Quotes for a Toyota Tacoma in Baltimore

We don’t have to tell you that car insurance companies don’t want customers comparing rates. Drivers who shop around for better prices are likely to switch companies because the odds are good of finding a policy with more affordable rates. A study showed that consumers who compared rates regularly saved approximately $860 a year as compared to drivers who don’t regularly compare prices.

If finding the lowest price for insurance in Baltimore is your goal, then having a grasp of how to find and compare insurance premiums can help you succeed in finding affordable rates.

To save the most money, the best way to quote cheaper Toyota Tacoma insurance is to do a yearly price comparison from different companies who provide auto insurance in Baltimore.

1. Take a few minutes and learn about how auto insurance works and the measures you can take to keep rates in check. Many risk factors that are responsible for high rates like at-fault accidents and an unacceptable credit history can be eliminated by making minor driving habit or lifestyle changes. Continue reading for more information to prevent expensive rate increases and find additional discounts.
2. Obtain price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give rate quotes from a single company like Progressive or State Farm, while agents who are independent can quote prices from many different companies.
3. Compare the new rate quotes to your current policy to see if you can save by switching companies. If you find better rates and make a switch, ensure there is no coverage lapse between policies.

A tip to remember is to compare identical limits and deductibles on each price quote and and to compare every company you can. Doing this guarantees a fair price comparison and many rates to choose from.

If you have a policy now, you should be able to find better prices using the ideas presented in this article. Locating the most cost-effective insurance policy in Baltimore is quite easy if you know the best way to do it. But Maryland vehicle owners need to learn how companies compete online and use it to find better rates.

Components of Your Toyota Tacoma Insurance Prices

An important part of buying insurance is that you know the rating factors that aid in calculating the level of your policy premiums. If you understand what influences your rates, this enables you to make decisions that could help you find big savings.

• Minor frequent auto insurance claims are not good – If you’re an insured who likes to file claims you can pretty much guarantee higher rates. Companies in Maryland generally give lower rates to drivers who are not frequent claim filers. Insurance coverage is designed for claims that pose a financial burden.
• Cheaper rates by consolidating – The majority of auto insurance companies apply discounts for people who carry more than one policy in the form of a multi-policy discount. Even if you already get this discount, consumers should still get quotes from other companies to help guarantee you have the best rates.
• Vehicles with better crash test results cost less to insure – Vehicles that have high safety ratings get lower rates. The safest vehicles reduce injuries and lower rates of occupant injuries means lower claim amounts and more competitive rates for policyholders.
• Job and insurance rates – Do you have a high-stress occupation? Occupations such as military personnel, air traffic controllers, and medical professionals generally have higher average rates attributed to high stress levels and lots of time spent away from family. Conversely, jobs such as scientists, athletes and homemakers have the lowest average rates.

• Claims statistics for a Toyota Tacoma – Insurers use past insurance losses in order to profitably underwrite each model. Models that the data determines to have increased claim numbers or amounts will have higher rates.

  The table shown below demonstrates the historical loss data for Toyota Tacoma vehicles. For each coverage category, the claim probability for all vehicles, as an average, is represented as 100. Values under 100 mean the vehicle has better than average losses, while values that are above 100 show a trend for more claims or an increased chance of larger losses than average.

  
  

  Toyota Tacoma Insurance Loss Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Toyota Tacoma Double Cab 2WD	79	109	70	77	76	92
  Toyota Tacoma Double Cab 4WD	82	104	84	64	56	77
  Toyota Tacoma Double Cab LWB 2WD	87	108	74			96
  Toyota Tacoma Double Cab LWB 4WD	84	104	88	68	57	79
  Toyota Tacoma Xtra Cab 2WD	80	105	60	86	75	96
  Toyota Tacoma Xtra Cab 4WD	71	90	77	48	51	65

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

Toyota Tacoma insurance rate analysis

The premium information shown below covers detailed analysis of prices for Toyota Tacoma models. Being more informed about how rate quotes are figured can assist in making decisions on the best policy coverages.

Cost estimates assume married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Rates do not factor in specific zip code location which can increase or decrease insurance rates noticeably.

Policy deductibles

One of the more difficult decisions when buying insurance is which deductible level should you buy. The following insurance rates can help illustrate the costs and benefits when you choose different comp and collision deductibles. The first rate estimation uses a $100 comprehensive and collision deductible and the second set of rates uses a $500 deductible.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Premium amounts do not factor in vehicle garaging location which can increase or decrease rates noticeably.

Based on these figures, using a $100 deductible will cost you approximately $27 more each month or $324 for a full year across all Toyota Tacoma models than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you tend to go at least 15 months between claim filings, you would more than likely save some money if you decide on a higher deductible. Here’s the way we made this calculation.

One thing to note is that a higher deductible means you will have to pay more of your own money when you file a claim. That will require some money saved in the event you have to pay the higher deductible.

Gender-based insurance rates in Baltimore

The diagram below shows the difference between Toyota Tacoma car insurance costs for male and female drivers. Data assumes no driving violations, no at-fault accidents, full coverage, $250 deductibles, drivers are not married, and no discounts are factored in.

Full coverage or liability only

The illustration below illustrates the comparison of Toyota Tacoma auto insurance costs with and without physical damage coverage. The data assumes no claims or violations, $100 deductibles, single status, and no policy discounts are applied.

When to stop buying comprehensive and collision coverage

There isn’t a written rule that is best for determining when to drop comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

For example, let’s pretend your Toyota Tacoma book value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $2,000 after you pay the deductible. If you are paying in excess of $200 annually for full coverage, then you might consider buying liability only.

There are some circumstances where eliminating full coverage is not recommended. If you still have a lienholder on your title, you are required 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 keep full coverage.

Save a ton by getting discounts

The cost of insuring your cars can be expensive, but you may find discounts to cut the cost considerably. Certain reductions will be credited at quote time, but occasionally some discounts must be manually applied prior to receiving the credit.

• Bundled Policy Discount – If you have multiple policies with one insurance company you may earn approximately 10% to 15%.
• Professional Organizations – Being a member of specific professional or occupational memberships or organizations is a good way to get lower rates on insurance.
• Low Mileage Discounts – Maintaining low annual mileage may enable drivers to earn slightly better premium rates than normal.
• Theft Deterrent Discount – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems help deter theft so companies will give you a small discount.
• Multi-car Discount – Buying a policy with multiple cars or trucks on one policy qualifies for this discount.

Just know that most discount credits are not given to all coverage premiums. Some only apply to specific coverage prices like liability, collision or medical payments. So when the math indicates adding up those discounts means a free policy, companies don’t profit that way.

The information below shows the comparison of Toyota Tacoma insurance costs with and without discounts applied. The premium estimates are based on a male driver, no claims or driving violations, Maryland 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 multi-policy, multi-car, homeowner, marriage, claim-free, and safe-driver discounts applied.

A few of the larger companies and a selection of discounts are outlined below.

• American Family may have discounts that include Steer into Savings, mySafetyValet, multi-vehicle, air bags, accident-free, and early bird.
• Farm Bureau has savings for renewal discount, multi-vehicle, driver training, good student, 55 and retired, multi-policy, and safe driver.
• State Farm discounts include accident-free, anti-theft, Drive Safe & Save, defensive driving training, and Steer Clear safe driver discount.
• Travelers may offer discounts for payment discounts, early quote, student away at school, multi-car, and good student.
• The Hartford offers discounts for anti-theft, good student, defensive driver, vehicle fuel type, bundle, and air bag.
• GEICO has discounts for daytime running lights, air bags, driver training, good student, and anti-lock brakes.
• Progressive offers discounts including multi-vehicle, homeowner, multi-policy, online signing, continuous coverage, good student, and online quote discount.

If you are trying to find inexpensive Baltimore car insurance quotes, ask each company or agent the best way to save money. Some discounts listed above may not apply in every state. To locate insurance companies that offer discounts in Maryland, click here to view.

Don’t give up on cheap premiums

Discount Toyota Tacoma insurance in Baltimore can be found on the web in addition to many Baltimore insurance agents, and you should compare rates from both to get a complete price analysis. Some companies don’t offer online price quotes and many times these smaller companies provide coverage only through independent agencies.

When buying insurance coverage, don’t be tempted to reduce needed coverages to save money. There are a lot of situations where an accident victim reduced full coverage only to discover later that it was a big error on their part. The aim is to purchase a proper amount of coverage at the best cost, but do not sacrifice coverage to save money.

Insureds switch companies for any number of reasons including policy non-renewal, policy cancellation, poor customer service and lack of trust in their agent. Regardless of your reason, choosing a new insurance company can be easy and end up saving you some money.

Helpful information

• State Car Insurance Guides (GEICO)
• How Much are Baltimore Car Insurance Quotes for a Dodge Journey? (FAQ)
• Uninsured Motorist Statistics (Insurance Information Institute)
• What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)