It’s an obvious assumption that car insurance companies don’t want their customers to go rate shopping. Drivers who compare price quotes are very likely to buy a new policy because there is a significant possibility of finding a policy with more affordable rates. A recent insurance study discovered that drivers who regularly shopped around saved approximately $850 each year as compared to drivers who never shopped around for lower prices.
If finding discount rates on Toyota Prius V insurance is why you’re reading this, then knowing the best ways to find and compare car insurance can help you succeed in saving money.
Truthfully, the best way to get low-cost auto insurance rates is to do an annual price comparison from providers who can sell car insurance in Oklahoma City.
- Spend some time learning about coverages and the things you can control to prevent expensive coverage. Many rating factors that increase rates such as careless driving and your credit history can be remedied by paying attention to minor details.
- Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give rate quotes from a single company like Progressive or Allstate, while independent agencies can provide prices for a wide range of insurance providers.
- Compare the quotes to your existing policy and determine if cheaper Prius V coverage is available. If you can save some money and change companies, make sure there is no coverage gap between policies.
- Notify your agent or company of your intention to cancel your current policy. Submit a completed application and payment to your new company or agent. Make sure you place your new proof of insurance certificate in an accessible location in your vehicle.
One bit of advice is to compare similar coverage information on each quote request and and to look at all possible companies. This guarantees a level playing field and the most accurate and complete price analysis.
If you currently have a car insurance policy, you will most likely be able to cut your premiums using these tips. Buying the cheapest car insurance in Oklahoma City can be easy if you know a few tricks. Nevertheless, Oklahoma consumers need to have an understanding of how insurance companies price online insurance because it can help you find the best coverage.
How Insurance Providers Determine Toyota Prius V Insurance Rates
Many factors are taken into consideration when quoting car insurance. Some are pretty understandable such as traffic violations, although some other factors are more transparent like your vehicle usage or your vehicle rating. Part of the insurance buying process is learning a few of the rating criteria that help calculate insurance rates. If you have a feel for what controls the rates you pay, this helps enable you to make changes that may reward you with better insurance rates.
Rental and towing coverage may not be needed – Insurance policies have a lot of extra coverages that can waste your money if you aren’t diligent. Coverages like rental car coverage, towing coverage, and term life insurance are probably not needed. They may sound like good ideas when talking to your agent, but if they’re wasting money eliminate the coverages to reduce your premium.
Car and home together may be cheaper – The majority of insurance companies allow discounts to buyers who have multiple policies with them, otherwise known as a multi-policy discount. Even if you already get this discount, it’s in your best interest to shop around to guarantee you are still saving the most.
Get better rates if married – Your spouse can get you a discount on your insurance policy. Having a spouse is viewed as being more mature and responsible and statistics prove married drivers tend to file fewer claims.
Do you have enough liability protection? – Liability insurance will provide protection if ever you are responsible for damages caused by your negligence. Liability insurance provides legal defense to defend your case. Liability is cheap compared to other policy coverages, so drivers should make sure they buy enough to cover all assets.
Gender and car insurance rates – Over the last 50 years, statistics have shown that women are safer drivers than men. Now that doesn’t mean females are better drivers. Men and women get in accidents at about the same rate, but the men have costlier accidents. Not only that, but men also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.
Insurance loss data for Toyota Prius V vehicles – Auto insurance companies use past insurance losses to help set a rate to offset losses. Vehicles that are shown to have high amounts or severity of claims will have increased rates. The table shown below demonstrates the actual insurance loss data for Toyota Prius V vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles compiled together is a value of 100. Numbers below 100 suggest a better than average loss history, while percentage numbers above 100 indicate higher probability of having a loss or an increased chance of larger losses than average.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Prius V Hybrid | 94 | 86 | 88 | 88 | 94 | 97 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Do you qualify for discounts on Toyota Prius V insurance in Oklahoma City?
Insuring your fleet can be pricey, but there could be significant discounts to reduce the price significantly. Some discounts apply automatically when you quote, but some discounts are required to be manually applied before being credited. If you do not check that you are getting every discount you deserve, you could be getting lower rates.
- Renewal Discounts – A few companies allow discounts for renewing your policy before your current expiration date. You can save around 10% with this discount.
- Defensive Driver Discounts – Successfully completing a class that teaches driver safety techniques is a good idea and can lower rates if you qualify.
- Payment Method – If you pay your bill all at once rather than paying monthly you may have a lower total premium amount.
- Sign Online – Certain auto insurance companies may give you up to $50 get Oklahoma City auto insurance over the internet.
- 55 and Retired – If you’re over the age of 55, you are able to get a discount up to 10%.
- Drive Safe and Save – Drivers without accidents can save as much as half off their rates than less cautious drivers.
- Low Mileage Discounts – Keeping the miles down on your Toyota may allow you to get lower premium rates due to less chance of an accident.
While discounts sound great, it’s important to understand that most discount credits are not given to all coverage premiums. Most cut specific coverage prices like collision or personal injury protection. Even though it appears you would end up receiving a 100% discount, companies don’t profit that way.
Some of the insurance companies that have many of the previously listed discounts include:
Before buying, ask all companies you are considering how you can save money. Discounts might not be offered on policies in Oklahoma City.
Final considerations
We just showed you a lot of information how to shop for Toyota Prius V insurance online. The key concept to understand is the more companies you get premium rates for, the higher your chance of finding low cost Oklahoma City auto insurance quotes. You may even find the lowest auto insurance rates are with a smaller regional carrier. These smaller insurers can often insure niche markets at a lower cost compared to the large companies like Allstate and Progressive.
As you prepare to switch companies, never sacrifice coverage to reduce premiums. In too many instances, an accident victim reduced uninsured motorist or liability limits only to regret they didn’t have enough coverage. Your goal is to buy a smart amount of coverage at the lowest possible cost while still protecting your assets.
Other articles
- Drunk Driving Statistics (Insurance Information Institute)
- How Much is Auto Insurance for Drivers Over Age 60 in Oklahoma City? (FAQ)
- Who Has Affordable Auto Insurance for Handicapped Drivers in Oklahoma City? (FAQ)
- Who Has the Cheapest Car Insurance for Infrequent Drivers in Oklahoma City? (FAQ)
- Help Your Teen Be a Better Driver (State Farm)
- Your Car has been Stolen: Now What? (Allstate)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)