Best Cheap Insurance for a Toyota Corolla in Iowa

The chances of finding the best cheap car insurance for a Toyota Corolla in Iowa is contingent on a complex formula that considers things such as how many miles you drive each year, your credit score, and any driving offenses on your record. Drivers in Iowa pay on average $560 every 12 months to insure a Corolla, but that policy rate is an estimate calculated based on a 30-year-old married male driver that wants both comprehensive and collision coverage and $1,000 physical damage deductibles.

Chances are good that you aren’t exactly 30 years old or even a male, you might be single instead of married, or you just prefer to insure for liability only. Have just a small change in rating factors could result in a significant change in the cost of insuring your Corolla.

Auto insurance prices are based on the driver profile your best shot at finding the most affordable coverage for your Toyota is to put in the effort and compare rates.

Find Cheaper Toyota Corolla Insurance

The trim level of your Toyota will likely have an effect on the cost of insurance, so the price you will pay to insure a Corolla LE model will be $14 lower than the price to insure the fancier Corolla XRS model, as shown in the prices below.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Iowa minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Table data does not factor in your specific Iowa location which can increase or decrease auto insurance rates significantly.

Ending up with the top company is hard considering how many different companies there are to choose from in Iowa. The company ratings shown below can help you select which car insurance companies you want to consider when shopping car insurance rates for a Toyota Corolla.

These ratings only include companies who write in the majority of U.S. states, so smaller companies that only insure vehicles in Iowa are not taken into consideration for these rankings. To check rates and find cheaper insurance for a Toyota Corolla, follow this link.

Top 10 Major Auto Insurers in Iowa Ranked by Customer Satisfaction

1. USAA – 92%
2. American Family – 88%
3. State Farm – 88%
4. Nationwide – 88%
5. 21st Century – 88%
6. The Hartford – 87%
7. Progressive – 87%
8. AAA Insurance – 87%
9. Farmers Insurance – 87%
10. Liberty Mutual – 87%

Top Companies for Toyota Corolla Insurance in Iowa

Comparison of full coverage and liability-only policies

Finding the best cheap insurance for a Toyota Corolla in Iowa should be important to most drivers, and one common way to find cheap insurance is to buy liability only. The example below shows the difference between insurance costs when comparing full coverage to liability only. The premiums assume no claims or driving violations, $500 deductibles, single status, and no discounts are factored in.

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Averaged for all age groups, physical damage coverage costs an additional $1,510 per year more than just buying liability insurance. That is a large expense which might make you wonder if buying full coverage is a waste of money. There is no clear-cut rule for excluding comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then you might consider buying liability only.

Last year’s bargain might be this year’s rip off

Iowa auto insurance rates are impacted by many factors that can increase the cost of your policy. Simply getting older, moving to a different location, or having a fender bender may prompt premium changes that can now make some companies more affordable than the competition.

Also, insurance companies amend premium rates multiple times each year to reflect underwriting profits or losses. A period of higher than normal claims can cause rate increases, while lower claim expenses can result in lower-cost Corolla insurance rates.

The bar chart below analyzes the cheapest car insurance in Iowa for a 35-year-old female driver with no accidents, a clean driving record, and a good credit history. If we estimate rates based on her current rating profile, USAA has the cheapest car insurance rates in Iowa at $662 each year. This is $513 less than the average price paid by Iowa drivers of $1,175. Partners Mutual, Allied, Western National, and Hastings Mutual are also on the list of the most affordable Iowa auto insurance companies.

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The chart below compares rates after we give the driver from the first set of rates a claim surcharge, a lower credit rating, and a couple of points charged on her driving record. Due to the fact that each insurance company has a different formula for setting rates, comparing rates most likely will result in a different ranking of the cheapest companies as shown below.

google.charts.setOnLoadCallback(drawIAWcqcibChart);function drawIAWcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[‘Nationwide’, 997.7, ‘#C77F00’],[‘Partners Mutual’, 1015.5, ‘#A56900’],[‘Auto-Owners’, 1023, ‘#895700’],[‘Farm Bureau Mutual’, 1073.6, ‘#724800’],[‘Travelers’, 1089, ‘#5F3C00’]]);var options = {title: ‘Cheapest Rates After Accident/Violation’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 300,’chartArea’:{left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1189,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwc’));chart.draw(view, options);}

Nationwide now has the lowest car insurance rate in Iowa with Partners Mutual, Auto-Owners, Farm Bureau Mutual, and Travelers also being competitive. This example demonstrates why it is crucial to shop around to get the best car insurance rates for a Toyota Corolla. Auto insurance prices are determined by many different factors and change dramatically, so the most affordable company six months ago may now cost much more than other companies.

How to get the best cheap insurance for a Toyota Corolla in Iowa

It’s not impossible to find cheaper rates, and here are many money-saving solutions that can help you get more affordable coverage.

• Avoid at-fault accidents and claims
• Higher credit ratings may save you money
• Tickets and violations raise rates
• Drive a car with a high safety rating
• Raise your deductibles
• Compare prices as often as possible

That last tip is extremely vital, as was discussed in the article above. Prices charged by car insurance companies in Iowa can be adjusted at any time, so don’t be afraid to buy from a new company if you can save money. Having a favorite company is fine, but it isn’t a good idea if that stubbornness costs you lots of money. If you have a few minutes, shop around to find cheaper auto insurance for a Toyota Corolla.

Who has the cheapest Toyota Corolla insurance quotes?

There are quite a few ways to quote auto insurance rates in Iowa, but the most prevalent methods are using an independent insurance agent, an exclusive insurance agent such as Allstate or Liberty Mutual, or from a direct company like Geico or Progressive.

All three ways are similar, but auto insurance shoppers should know the differences in how they provide price quotes.

Independent agencies work for many companies and can get rate quotes from all of them. They are not locked into one company and can compare multiple rates, which may give you a better chance of saving money. If a cheaper price is found, an independent agent can move your coverage and that require little work on your part.

Exclusive agencies are only able to give rates for just one company, for example Allstate and Liberty Mutual agents. These agents usually cannot provide prices from multiple companies, so if rates are not competitive, they cannot shop around.

Auto insurance from a direct company means you bypass the middleman (the agent) and buy from a direct company like Progressive. This auto insurance option can be a good choice for consumers who do not have a lot of assets and have an above average understanding of what limits they need.

What is the best way to buy the best cheap insurance for a Toyota Corolla in Iowa? We’d like to tell you buying direct saves the most money since that prevents the need to pay agent commissions, but in reality, that is not true. A good argument could also be made that an independent agent results in the best rates due to more options, but again, it’s not a sure thing. And sometimes, the exclusive agents have really good rates that cannot be beaten by either independent or direct companies.

Since auto insurance prices vary so much, the best way to ensure you are not overpaying for auto insurance is to compare lots of quotes. Industry experts recommend getting price quotes from independent, exclusive, and direct to give yourself enough choices. To see some of the cheapest online companies available, click here to view.