How Much Does Insurance Cost for a Toyota Tundra in Maryland?

When writing about shopping for auto insurance, the word cheap should never appear anywhere in the article as a descriptor for car insurance rates. Despite the oxymoron, cheap auto insurance for a Toyota Tundra may be a thing of the past. Don’t let that discourage you, because we are going to show you some ways you can quote insurance that doesn’t cost an arm and a leg.

The likelihood of finding affordable coverage for a Toyota Tundra in Maryland relies on lots of different factors like your marital status, if you have a lapse in coverage, and your motor vehicle report. Maryland drivers pay around $1,200 annually for Tundra insurance, but that amount is an approximation calculated using a 50-year-old married female driver who requires full coverage including both comprehensive and collision and $250 physical damage deductibles.

There is a high probability that you aren’t exactly 50 years old or even a female, possibly single instead of married, or maybe your Tundra doesn’t need full coverage. Every insurance policy is unique to the driver, so the best method for finding the cheapest insurance price for your Toyota is to compare as many rates as you can.

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Your vehicle’s trim level will likely have an effect on the yearly cost, so the price you will be charged to insure a Tundra Regular Cab 2WD model will be $252 cheaper than the cost to insure the fancier Tundra SR/5 Crew Max 4WD version, as shown in the chart below.

Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Premium amounts do not factor in specific zip code location which can raise or lower coverage prices significantly.

Buying coverage from a good quality car insurance provider can be challenging considering how many companies there are to choose from in Maryland. The company rank data in the lists below could help you choose which insurers to look at putting your business with. The ratings below include large nationwide companies, so companies that focus mainly on Maryland business are not factored into these rankings.

Full coverage rates compared to liability-only

Finding cheap insurance for a Toyota Tundra in Maryland is important to the majority of drivers, and one great way to reduce the cost of insurance is to not buy full coverage. The example below visualizes the comparison of yearly insurance costs with liability coverage only compared to full coverage. The data assumes no tickets, no at-fault accidents, $100 deductibles, marital status is single, and no discounts are taken into consideration.

As an average for all age groups, comp and collision coverage costs $2,905 per year over and above liability only. Lot’s of drivers question if buying full coverage is worth the expense. There is no set rule of when to phase out comp and collision coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let’s pretend your vehicle’s replacement cost is $6,500 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $5,500 after the policy deductible has been paid. If premiums are more than $550 a year to have full coverage, then it might be time to buy liability only.

Who has the cheapest Toyota Tundra insurance quotes?

There are many different ways to compare cheaper insurance rates in Maryland, but the most prevalent methods are using an independent or non-exclusive agent, an exlusive agent like Liberty Mutual or Allstate, or direct from companies such as Progressive or Geico. They all have the same end result, but it’s important to understand the differences in how they work.

Independent insurance agencies have contracts with many companies and can get policy pricing from every one. Agents of this type are not restricted to one company and can give you more rate choices, which may give you improved odds of finding cheaper coverage. If they find a cheaper price, an independent agent can move your coverage without you having to go to a different agency.

A captive or exclusive agent is limited to one company, for example an Auto-Owners or State Farm agent. Exclusive agents cannot give you multiple price quotes, so you will not be able to compare other companys’ rates.

The third popular method of shopping for insurance is direct, which means you do not use an agent and instead shop direct either online or via phone. This option is good for people who have fewer assets and have knowledge of how insurance works.

So which way is best to buy cheap insurance for a Toyota Tundra in Maryland? Most people would assume that buying direct results in the cheapest rates since that eliminates agent commissions, but unfortunately, that is not always true. It could also be said buying insurance from an independent agent guarantees the cheapest rates because they can shop around, but that assumption is also not necessarily accurate. And sometimes, exclusive agencies have extremely competitive rates that are the cheapest in Maryland.

Because it’s impossible to say who has the best insurance rates, the one way to buy the cheapest policy is to compare rate quotes from as many companies as possible. If you want to save money, get prices from all three in order to have the best selection to choose from. For a list of companies with cheap rates in Maryland, click here to view.

How to find cheap insurance for a Toyota Tundra in Maryland

The list below details some of the recommended thrifty suggestions that can help drivers find the cheapest auto insurance.

• Pay less by remaining claim-free
• The safer your car, the less it costs to insure
• Save money by insuring older vehicles for liability only
• Buying car and homeowners insurance together can save money
• Increase your policy deductibles
• Good credit can help you save money
• Comparison shop frequently

The last tip in the list is particularly valuable, as we stressed in this write-up. Insurance rates can be adjusted at any time, so don’t hesitate to buy from a new company if you find a better deal.

Many consumers stick with the same company and that’s fine, but it isn’t a good idea if that stubbornness costs you a lot of money every month. It only take a few minutes to compare prices to find cheaper car insurance for a Toyota Tundra.