How Much Does Insurance Cost for a Toyota Camry in Indiana?

Your chances of finding the cheapest car insurance for a Toyota Camry in Indiana depends on a calculation that uses factors such as whether you are male or female, your claims history, and if your driving record shows any at-fault accidents. Indiana drivers on average pay around $620 every 12 months to insure a Toyota Camry, but that is a projection calculated using a 40-year-old married male driver who requires comprehensive and collision coverage and $1,000 deductibles.

It’s more than likely you aren’t exactly 40 years old or even a male, single instead of married, and you possibly have other drivers on your policy that need factored in. Having just a slight change in input factors could result in a significant change in price quotes.

This demonstrates why your best shot at finding cheap insurance rates for your Toyota is to do the rate comparisons yourself.

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The specific model of Camry will be a contributing factor to price, so the rate you will pay to insure a Camry LE will be $104 cheaper than the insurance cost for the more expensive Camry Hybrid version, as shown in the prices below.

Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Prices do not factor in specific garaging location which can affect premium rates noticeably.

Trying to buy affordable auto insurance is hard enough, and figuring out which companies offer the most affordable insurance rates for a Toyota Camry will take a bit more work.

Each insurer uses slightly different criteria to set their prices, so we’ll take a look at the most affordable insurance companies in Indiana. It’s important to understand that Indiana insurance rates are influenced by many factors which can substantially decrease or increase the price of your policy. This is why consumers need to compare lots of rates to find cheap insurance rates for a Toyota Camry. Auto insurance prices can be altered by many things and change substantially, so the most economical option six months ago may now be one of the more expensive options.

Cheapest Insurance Rates for Your Camry

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Travelers generally has some of the cheapest car insurance rates in Indiana at around $620 per year. Cincinnati Insurance, USAA, Erie, and The Hartford also rank well as some of the cheaper Indiana auto insurance companies.

As illustrated above, if you are currently insured with Erie and switched to Cincinnati Insurance, you might realize a yearly price reduction of upwards of $62. Insureds with The Hartford may save as much as $199 a year, and Western Reserve customers might realize rate reductions of up to $208 a year.

Be aware that those rates are averaged across all insureds and vehicles and are not factoring in a specific rating modification for a Toyota Camry. So the company that has the cheapest price for you may not even be featured in the list of companies above. That illustrates why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.

Full coverage or liability only

Finding cheap insurance for a Toyota Camry in Indiana should be important to most vehicle owners, and one of the fastest ways to pay less for insurance is to buy liability only. The diagram below shows the comparison of yearly insurance costs with full physical damage coverage compared to only buying liability only. The data is based on no accidents, no driving violations, $100 deductibles, single marital status, and no discounts are factored in.

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Averaged for all age groups, physical damage coverage on your policy costs an extra $2,198 per year more than just insuring for liability. At some point, about every driver wonders when is the right time to remove full coverage. There isn’t a steadfast formula for phasing out physical damage insurance, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than around 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your vehicle’s claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after paying the physical damage deductible. If you are paying over $400 annually for full coverage, then it might be time to consider dropping full coverage.

Violations and accidents raise rates

In a perfect world, the best way to get cheap insurance prices in Indiana for a Camry is to pay attention while driving and avoid getting tickets or having accidents. The example below demonstrates how citations and at-fault accidents can influence insurance prices for different age categories. The premiums are based on a single female driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and Two Accidents’],[‘Age 20’, 2815,3469,5863],[‘Age 30’, 1941,2595,4989],[‘Age 40’, 1805,2455,4851],[‘Age 50’, 1577,2229,4625],[‘Age 60’, 1523,2179,4575],[‘Age 70’, 1781,2433,4829]]);var options = {title: ‘Violations, Accidents, and Indiana Toyota Camry 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 Camry 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 previous chart, the average cost of an auto insurance policy in Indiana per year with no accidents or violations is $1,907. Factor in two speeding tickets and the average cost increases to $2,560, an increase of $653 each year. Now add two accidents along with the two speeding tickets and the yearly cost of insurance for a Toyota Camry jumps again to an average of $4,955. That’s an increase of $3,048, or $254 per month, just for not driving attentively!

Best rates: State Farm, Geico, Progressive, or Allstate

If you’re looking for the cheapest insurance for a Camry in Indiana, some of the first companies to look at are State Farm, Geico, Progressive, and Allstate. They all offer slightly different options that may influence your choice. The next table breaks down ratings and policy coverage options offered by each company.