Cheapest Insurance for a Toyota Corolla in New York

Our editors keep telling us that when writing about car insurance, the words cheap or affordable should never appear anywhere in the article as a descriptor for auto insurance rates. It’s just a fact that cheap car insurance for a Toyota Corolla is just plain contradictory. But don’t let us ruin your dream, because we can show you some ways you can still get insurance that fits into your budget.

The chances of finding the cheapest coverage for a Toyota Corolla in New York relies on many factors such as how many years you have been driving, the performance level of your vehicle, and if your driving record shows any at-fault accidents. Drivers in New York will pay on average $780 annually to insure their Corolla, but that cost is an estimate using rating data for a 40-year-old single male that includes full coverage and $500 physical damage deductibles.

There is a good chance you may not be 40 years old (or even male), you might be married instead of single, or maybe you prefer liability limits higher than required by New York state law. Just a minor difference in input factors can create big changes in the cost of a policy.

This example demonstrates why the way we recommend to find cheap insurance prices for your Toyota is to make a habit of comparing prices at least once a year. It only takes a few minutes and you will be able to see rates from some of the cheapest companies available.

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Vehicle trim level impacts the cost of coverage, so the price you will pay to insure a Corolla LE model will be $22 less than the insurance cost for the higher-end Corolla XRS model, as demonstrated by the prices below.

Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Price estimates do not factor in specific location which can influence coverage prices considerably.

Shopping around for low-priced auto insurance is challenging, and finding out which company quotes the best car insurance rates for a Toyota Corolla will take even more shopping around. Every insurance company uses slightly different criteria to set policy rates, so let’s take a look at the car insurance companies with the most affordable rates in New York.

Best Insurance Companies for Your Corolla

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USAA may offer some of the cheapest car insurance rates in New York at around $1,199 a year. Erie, Progressive, Utica National, and Allstate also qualify as some of the best New York car insurance companies.

As the rates illustrate above, if you currently have a policy with Utica National and switched to USAA, you could earn annual savings of roughly $350. New York drivers with Allstate might save as much as $357 a year, and Travelers policyholders might reduce rates by $360 a year.

To see if you’re overpaying, click here to get a free quote or quote prices from the following companies.

Be aware that those prices are averages for all types of insureds and vehicles and and are not figured with a specific rate factor for a Toyota Corolla. So the company that has the lowest price for you may not even be in the above list. That point stresses why you need to get rate quotes from many companies using your own individual information.

The chart below highlights how deductible choice can impact insurance prices when searching for cheap insurance for a Toyota Corolla. The price estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.

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The chart above illustrates that a 30-year-old driver could reduce rates by $292 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $442 by using a $1,000 deductible. Even younger insureds, such as the Age 20 example, could roll back prices up to $628 or even more by selecting a higher deductible. When insureds make the decision to increase the deductibles on their policy, it’s a good idea to have enough funds in savings to be able to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Careless driving habits raise car insurance rates

The recommended way to get the most affordable car insurance rates for a Corolla is to drive cautiously and avoid getting tickets or having accidents. The illustration below demonstrates how traffic citations and at-fault claims can drive up yearly insurance costs for different age categories. The price estimates are based on a single female driver, full coverage, $1,000 deductibles, and no policy discounts are applied.

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 One Accident’],[‘Age 20’, 2001,2449,2909],[‘Age 30’, 1357,1803,2265],[‘Age 40’, 1267,1719,2175],[‘Age 50’, 1109,1557,2019],[‘Age 60’, 1073,1525,1981],[‘Age 70’, 1265,1715,2173]]);var options = {title: ‘Impact of Citations and Accidents on New York 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 New York’,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 example above, the average cost of an auto insurance policy in New York per year with no accidents and a clean driving record is $1,345. Factor in two speeding tickets and the average cost increases to $1,795, an increase of $449 each year. Next add one accident along with the two speeding tickets and the 12-month cost of car insurance for a Toyota Corolla increases to an average of $2,254. That’s an increase of $908, or $76 per month, just for not being a responsible driver!

Allstate, State Farm, Progressive, and Geico: Who is best?

If you want the best insurance for a Corolla in New York, probably the best companies to start with are Allstate, State Farm, Progressive, and Geico. They all offer your standard coverages, but each one has different optional coverages and features that may influence your buying decision. The data below ranks pricing and service ratings, as well as optional policy coverages that may be available in your state.

Cheapest Toyota Corolla insurance quotes

Thanks to the internet, there are a lot of ways to shop for and buy car insurance in New York, but the most prevalent are either through a non-exclusive or independent agent, an exlusive agent like Allstate or Auto-Owners, or direct either online or via phone.

Each way has the same basic process, but car insurance shoppers should know the differences in how they price policies.

Independent agents write for multiple companies and can get policy pricing from each one. Independent agents are not employed by one specific company and can get prices from more than one company, which may provide you with more bang for your buck. If your agent finds a cheaper company, your agent can switch companies and the insured can keep the same agent.

A captive or exclusive agent is only able to write with a single insurance company, a couple examples are State Farm and Allstate agents. Exclusive agencies are unable to quote prices from more than just one company, so you will not be able to compare multiple prices.

Choosing to buy car insurance direct means you bypass a local agent and instead buy direct from companies such as Progressive or Esurance. This option is a good choice for drivers who have an average risk profile and have some degree of understanding of what specific coverages they need.

So which way is best to buy the cheapest insurance for a Toyota Corolla in New York? The quick answer would be shopping direct results in the cheapest rates since that eliminates agent commissions, but that is not always the case. And we’d like to say buying from an independent agent can save the most money due to having more companies to select from, but that’s not always true, either. In many circumstances, exclusive agents have very competitive rates well below independent agents AND direct companies.

Since car insurance prices vary so much, the one way to not overpay for car insurance is to get as many comparison quotes as possible. It’s a good idea to get quotes from all three to give yourself the best selection. To see some of the cheapest online companies available, click here to view.