Best Cheap Insurance for a Toyota Camry in Virginia

Best Cheap Insurance for a Toyota Camry in Virginia

When we talk about car insurance, the words “cheap” or “affordable” should never appear anywhere to describe car insurance rates. Despite the oxymoron, cheap auto insurance for a Toyota Camry can be difficult to find. But don’t let us ruin your dream, because we are going to show you some ways you can find and buy insurance that you can fit into your budget.

The chances of finding affordable auto insurance for a Toyota Camry in Virginia is dependent upon lots of different rating factors like the safety features of your vehicle, your profession, and driving citations. Drivers will pay around $590 per year for Camry insurance, but that cost is an estimation using rating data for a 50-year-old married male that has full physical damage coverage and $500 policy deductibles.

When estimating a car insurance rate like we just did, the issue is that you are not 50 and possibly not even male, you might be single instead of married, or maybe your Virginia zip code is rated cheaper than the example. This demonstrates why the most reliable way to find affordable rates for your Toyota is to compare as many rates as possible.

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The trim level of your vehicle has an effect on price, so the rate you pay to insure a Camry LE model will be $100 less than the price to insure the higher-end Camry Hybrid trim level, as shown in the table below.

Toyota Camry Insurance Rates in Virginia
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $126 $230 $248 $14 $74 $692 $58
Camry SE $126 $270 $248 $14 $74 $732 $61
Camry XLE $126 $270 $248 $14 $74 $732 $61
Camry Hybrid $142 $270 $280 $16 $84 $792 $66
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Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Price estimates do not factor in specific garaging location which can raise or lower coverage prices substantially.

Picking a high-quality insurer can be difficult considering how many choices you have in Virginia. The rank data shown next could help you select which coverage providers you want to consider when trying to find the cheapest insurance for a Toyota Camry. The ratings below are only made up of the companies with a significant amount of written premium nationwide, so companies that may only write in Virginia are not taken into consideration for these rankings.

Top Insurance Companies for a Toyota Camry
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Erie Insurance 87 84 85 85% A+ 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Insure.com Best Car Insurance Companies

Careless Virginia drivers pay higher rates

The easiest method to get the best insurance prices for a Camry is to be a safe driver and avoid getting tickets or having accidents. The example below demonstrates how citations and accidents can impact insurance premiums for different age groups of insureds. The rates are based on a single female driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.

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In the previous example, the average cost of a car insurance policy in Virginia per year with no accidents and a clean driving record is $1,786. Get two speeding tickets and the average cost swells to $2,407, an increase of $621 each year. Next add two accidents along with the two speeding tickets and the 12-month cost of insurance for a Toyota Camry jumps again to an average of $4,562. That’s an increase of $2,776, or $231 per month, just for not driving attentively!

Price comparison of only insuring for liability

Finding the best cheap insurance for a Toyota Camry in Virginia is probably important to the majority of people, and one great way to save on the cost of insurance is to only pay for liability coverage. The example below shows the difference between annual premium costs with full physical damage coverage compared to only buying liability only. The premiums are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $250 Deductibles’, ‘Liability Only’],[‘Age 20’, 2959,921],[‘Age 30’, 1521,509],[‘Age 40’, 1511,471],[‘Age 50’, 1373,441],[‘Age 60’, 1331,435],[‘Age 70’, 1621,579]]);var options = {title: ‘Full Coverage Compared to Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Camry in Virginia’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

Averaged for all age groups, comprehensive and collision coverage on your policy costs an additional $1,719 per year over and above liability coverage. A very common question is if it’s a good idea to buy full coverage. There is no definitive guideline to eliminate full coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then you might want to consider buying only liability coverage.

There are a few situations where buying only liability insurance is not advised. If you haven’t paid off your loan, you have to keep 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 in an accident, you should not opt for liability only.