How Much Does Insurance Cost for a Toyota Tacoma in Virginia?

Our editors always tell us that when writing about car insurance, the words cheap or affordable should not appear anywhere to describe car insurance prices. Be that as it may, cheap car insurance for a Toyota Tacoma does not exist. But don’t despair, because we will tell you how you can quote and buy auto insurance that doesn’t cost an arm and a leg.

The chances of finding cheap auto insurance for a Toyota Tacoma in Virginia depends upon a pretty complex algorithm that uses a lot of factors like when you were born, if you have a lapse in coverage, and citations on your driving record. Drivers in Virginia on average will pay $1,070 a year to insure a Tacoma, but that cost is assuming a 30-year-old single female driver who needs comprehensive and collision coverage and $100 physical damage deductibles.

More likely than not, you aren’t exactly 30 years old or even a female, possibly married instead of single, or maybe you want more liability coverage than is required by law in Virginia. The different assumptions illustrate why the best method for finding affordable rates for your Toyota is to get into the habit of shopping around regularly.

Cheapest Toyota Tacoma Insurance Rates

The trim level of your Tacoma can impact the cost of coverage, so the price you will be charged to insure a Tacoma 2WD trim level will cost $64 less than the cost to insure the fancier Tacoma Double Cab TRD Sport Package 4WD trim level, as shown in the chart below.

Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Virginia minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Table data does not factor in vehicle garaging location which can increase or decrease auto insurance rates greatly.

Finding good, cost effective auto insurance is difficult, and determining which insurers offer the most affordable insurance rates for a Toyota Tacoma may require even more perseverance. Each auto insurance company has a unique approach to set their prices, so let’s rank the most competitive insurance companies in Virginia.

Best Cheap Insurance Rates for Your Tacoma

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Travelers generally has some of the lowest car insurance rates in Virginia at around $659 a year. USAA, Penn National, Auto-Owners, and Cincinnati Insurance would also make the list of some of the more affordable Virginia car insurance companies.

In the above rates, if you currently have a policy with Cincinnati Insurance and switched to USAA, you might see a yearly price reduction of roughly $75. Drivers with Utica National could save as much as $77 a year, and Virginia Farm Bureau customers might realize rate reductions of up to $114 a year.

If you want to find out if you’re overpaying, click here to start a quote or click several companies below for low rates.

Remember that these premiums are averages across all ages of drivers and types of vehicles and and are not calculated with a specific rate factor for a Toyota Tacoma. So the car insurance company that fits your age and vehicle best may not even be shown in the above list. That point stresses why you need to get rate quotes using your own driver information and specific vehicle type.

The diagram below shows how choosing a deductible can affect insurance costs when researching cheap insurance for a Toyota Tacoma. The premium estimates are based on a married female driver, comp and collision included, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 1889,1731,1555,1387],[‘Age 30’, 1319,1205,1077,953],[‘Age 40’, 1309,1197,1073,953],[‘Age 50’, 1147,1051,943,841],[‘Age 60’, 1091,1003,899,799],[‘Age 70’, 1183,1081,975,871]]);var options = {title: ‘Impact of Deductible Levels on Toyota Tacoma Insurance Rates in Virginia’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Tacoma’,minValue: 0,format: ‘$###,###’},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);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

The data above shows that a 50-year-old driver could lower their policy premium by $204 a year by switching from a $100 deductible up to a $500 deductible, or save $306 by changing to a $1,000 deductible. Even younger insureds, like the age 20 example, could shave $502 each year by selecting a higher deductible.

When choosing a higher deductible, it is a good idea to have additional funds squirreled away to enable you to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.

Cost of full coverage

Finding cheap insurance for a Toyota Tacoma in Virginia should be important to the majority of drivers, and one easy way to save on the cost of insurance is to buy only liability coverage. The illustration below visualizes the comparison of yearly insurance costs when comparing full coverage to liability only. The data is based on no violations or accidents, $500 deductibles, drivers are not married, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 2419,921],[‘Age 30’, 1259,509],[‘Age 40’, 1239,471],[‘Age 50’, 1129,441],[‘Age 60’, 1097,435],[‘Age 70’, 1355,579]]);var options = {title: ‘Price Comparison of Full Coverage Versus Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Tacoma in Virginia’,minValue: 0,format: ‘$###,###’},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);}

If we average all the age groups together, comp and collision coverage costs an extra $1,416 per year more than just buying liability insurance. That is a large expense and it proposes the question if buying full coverage is a waste of money. There is no exact rule to drop physical damage coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.

For example, let’s pretend your vehicle’s replacement cost is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $4,000 after paying your deductible. If you are currently paying more than $400 annually for physical damage coverage, then it might be time to consider dropping full coverage.