Cheapest Insurance for a Toyota Camry in Vermont

Our editors have a joke that when writing about car insurance, the word “cheap” should never be used anywhere in the article. Sad but true, cheap car insurance for a Toyota Camry may be a thing of the past. Don’t let that spoil your day, because we will tell you how you can find and buy car insurance that is easier on your budget.

The chances of finding cheaper auto insurance for a Toyota Camry in Vermont is contingent on a lot of different factors such as your date of birth, if you have a lapse in coverage, and citations on your driving record. Vermont drivers pay on average $610 every 12 months to buy insurance for a Toyota Camry, but that rate is a projection calculated based on a 50-year-old married male that wants both comprehensive and collision coverage and $250 physical damage deductibles.

There is a really good chance that you are not 50 years old and maybe not even male, maybe you are single instead of married, or maybe you prefer liability limits higher than required by Vermont state law. Auto insurance is not “one size fits all”, so the best method for finding cheap auto insurance rates for your Toyota is to shop your policy around at every renewal.

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The trim level of your Toyota tends to have a direct effect on the insurance rate, so the price you will be charged to insure a Camry LE trim level will be $106 less than the insurance cost for the higher-end Camry Hybrid version, as shown by the rates below.

Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Vermont minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Premium costs do not factor in garaging location in Vermont which can impact premiums greatly.

Determining which companies offer the cheapest auto insurance rates for a Toyota Camry may require a little more effort in order to find the lowest price. Each auto insurer has a proprietary method for determining prices, so to begin we’ll rank the auto insurance companies with the overall best prices in Vermont.

It’s important that readers know that Vermont auto insurance rates are based on many factors that will increase or decrease the cost of having a policy. Simply getting older, moving across town, or having a fender bender can cause premium changes that may make certain companies cheaper than before.

Best Car Insurance Prices for Your Camry

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Safeco quotes some of the best car insurance rates in Vermont at around $463 a year. California Casualty, USAA, The Hartford, and Travelers would also make the list of some of the lowest-priced Vermont auto insurance companies.

As illustrated above, if you buy coverage from The Hartford and switched to California Casualty, you could realize an annual premium reduction of roughly $142. Policyholders with Travelers may save as much as $211 a year, and Unitrin customers might lower prices by $227 a year.

Understand that those premium estimates are averaged across all insureds and vehicles and are not factoring in a specific rate factor for a Toyota Camry. So the company that has the lowest price for you may not even be in the rate chart shown above. That helps illustrate why you need to get quotes using your own personalized driver profile and vehicle information.

Rate comparison of full coverage and liability-only

Finding the cheapest insurance for a Toyota Camry in Vermont is probably important to most drivers, and one of the quickest ways to pay lower rates for insurance is to not buy full coverage. The chart below visualizes the comparison of insurance costs with and without physical damage coverage. The information is based on no tickets, no at-fault accidents, $250 deductibles, single status, and no discounts are applied to the premium.

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As an average, comp and collision coverage costs an additional $1,590 per year more than buying just liability insurance. That proposes the question if buying full coverage is worth the money. There isn’t a written rule for eliminating comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than about 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s pretend your vehicle’s replacement value is $5,500 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $4,500 after paying your deductible. If you are paying in excess of $450 a year to have full coverage, then you might want to consider buying only liability coverage.

There are some circumstances where dropping physical damage coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should not remove full coverage.

Illustration showing the impact of accidents and violations

One of the best ways to enjoy low auto insurance premiums for a Camry is to drive attentively and avoid getting tickets or having accidents. The chart below shows how traffic citations and fender-benders can increase auto insurance costs for different age groups. The rate quotes are based on a married male driver, full coverage, $1,000 deductibles, and no additional discounts are factored in.

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In the example above, the average cost of a car insurance policy in Vermont per year with no violations or accidents is $1,064. Factor in two speeding tickets and the average cost surges to $1,461, an increase of $397 each year. Then include two accidents along with the two speeding tickets and the 12-month cost of auto insurance for a Toyota Camry goes up to an average of $3,079. That’s an increase of $2,015, or $168 per month, just for not being more responsible behind the wheel!

How to find economical insurance for a Toyota Camry

The list below details some money-saving ideas that can help Vermont drivers locate more affordable auto insurance.

• Increase your credit score
• Drop full coverage on older vehicles
• Buy a safer vehicle
• Increase your physical damage deductibles
• Serious violations like DUI or careless driving can make car insurance unaffordable
• Avoid accidents
• Shop around for cheaper rates regularly

The final tip is extraordinarily crucial, as was noted in the prior information. Coverage rates in Vermont change a lot, so don’t be unwilling to switch companies if you find a better deal. We understand brand loyalty, but we do not recommend it if your bullheadedness ends up costing you hundreds every year. It takes less than five minutes to compare rates and find cheaper insurance for a Toyota Camry.

Cheapest car insurance: Progressive, Allstate, Geico, or State Farm

When it comes to buying insurance for a Camry in Vermont, the most popular companies are Progressive, Allstate, Geico, and State Farm. Between them, they insure almost 50% of all policies written. The next table compares price and claims rank as well as some different options that are available from each company.