Cheap Insurance for a Toyota Corolla in Indiana

When talking about car insurance, the word “cheap” shouldn’t be used anywhere in the article to describe car insurance prices. Forgive the oxymoron, but cheap auto insurance for a Toyota Corolla just does not exist. But don’t despair, because we will teach you how you can quote car insurance that is more affordable than your current policy.

The chances of finding cheap insurance for a Toyota Corolla in Indiana is dependent upon a complicated equation that takes into consideration things such as how long your commute is, your geographic location, and if you have tickets or violations. Drivers pay on average $800 per year to insure their Corolla, but that cost is based upon a 50-year-old married male who purchased full comprehensive and collision coverage and $100 physical damage deductibles.

The issue that arises when projecting rates is that it’s very likely that you’re not a 50-year-old male, single instead of married, or maybe your driving record isn’t squeaky clean. What seems to be a minor change in the factors used to determine rates can induce significant differences in the cost of insurance.

Every driver has a different risk profile, so the way we recommend to find cheap insurance prices for your Toyota is to regularly compare rates at renewal. In just a couple of minutes you will receive prices from top-rated companies that sell coverage in Indiana.

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The trim level of your Corolla impacts the insurance rate, so the cost to insure a Corolla LE will be $24 less expensive the price to insure the higher-end Corolla XRS model, as demonstrated by the prices below.

Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Price information does not factor in garaging location in Indiana which can affect rates noticeably.

Establishing which companies quote the lowest-priced car insurance rates for a Toyota Corolla calls for more work than just comparing a company or two. Each insurer uses their own formula to set policy rates, so let’s take a look at the car insurance companies with the overall cheapest rates in Indiana.

Lowest Insurance Price Quotes for Your Corolla

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Travelers has some of the cheapest car insurance rates in Indiana at around $602 each year. USAA, Cincinnati Insurance, Erie, and Indiana Farmers Mutual would also make the list of some of the cheapest Indiana car insurance companies.

As shown in the table above, if you are a policyholder with Indiana Farmers Mutual and switched to USAA, you might see an annual premium reduction of in the vicinity of $174. Customers with Western Reserve could save as much as $205 a year, and The Hartford customers might lower prices by $214 a year.

Bear in mind that those premiums are averages for all insureds and vehicles and are not factoring in a specific rating modification for a Toyota Corolla. So the auto insurance company that has the cheapest price for you may not even be shown in the above rate chart. That affirms the importance of why you need to compare rates from multiple companies using your own driver information and specific vehicle type.

Does full coverage make sense?

Finding cheap insurance for a Toyota Corolla in Indiana is important to most vehicle owners, and one of the easiest ways to buy cheap insurance is to not pay for full coverage. The chart below illustrates the comparison of insurance costs when comparing full coverage to liability only. The premiums assume no violations or claims, $100 deductibles, single marital status, and no discounts are applied.

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As an average, comprehensive and collision coverage on your policy costs $2,057 per year more than just buying liability only. Many of you may wonder if it’s a good idea to buy full coverage. There is no written rule to stop buying comp and collision coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.

Accidents and violations increase rates

The best way to maintain the most affordable car insurance rates in Indiana for a Corolla is to drive attentively and have a clean driving record. The illustration below illustrates how speeding tickets and fender-benders can impact car insurance costs for different categories of driver ages. The premiums are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and One Accident’],[‘Age 20’, 2519,2707,3239],[‘Age 30’, 1309,1497,2025],[‘Age 40’, 1283,1473,2001],[‘Age 50’, 1175,1363,1895],[‘Age 60’, 1141,1331,1859],[‘Age 70’, 1417,1607,2137]]);var options = {title: ‘Effect of Tickets and Claims on Indiana Toyota Corolla Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Corolla in Indiana’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the chart above, the average cost of car insurance per year with a clean driving record and no accidents is $1,474. Add in one speeding ticket and the average cost surges to $1,663, an increase of $189 each year. Then add one accident along with the one speeding ticket and the yearly cost of car insurance for a Toyota Corolla jumps again to an average of $2,193. That’s an increase of $719, or $60 per month, just for not being attentive to the road!