1998 Toyota Corolla Car Insurance Rates – 10 Discounts for Cheaper Quotes

Finding low-cost insurance coverage over the internet may be intimidating for beginners to price shopping online. Because there are so many companies competing online, how can drivers even start to compare the different rates to find the best price?

Choosing the best insurance company for you is not that difficult. Essentially every vehicle owner who is required by state law to have auto insurance most likely will be able to cut their insurance bill. But vehicle owners do need to learn the methods companies use to price insurance differently.

Comprehensive Car Insurance Comparison

Shopping for lower car insurance rates can take hours if you don’t know the most efficient way to do it. You can waste a few hours (or days) talking about coverages with agents in your area, or you can utilize the internet to accomplish the same thing much quicker.

Many popular insurance companies participate in an industry program where prospective buyers submit one quote, and each company can provide price quotes based on the submitted data. This eliminates the need for quote forms to every company.

To find out how much you can save on car insurance click here (opens in new window).

The only drawback to doing it this way is that you can’t choose the companies to receive prices from. If you wish to select specific providers for rate comparison, we have assembled a list of car insurance companies in your area. Click here to view list.

Whichever way you use, ensure you’re using apples-to-apples deductibles and coverage limits for every company. If you have mixed coverages it will be next to impossible to make a fair comparison for your Toyota Corolla. Having just a slight variation in limits could mean much higher rates. And when comparison shopping, getting more free quotes helps you find the best offered rates.

Drivers who switch save $469 a year? Really?

Companies like State Farm, GEICO and Progressive consistently run ads in print and on television. All the ads make an identical promise about savings if you change to their company. But how can every company make the same claim?

All companies have a certain “appetite” for the type of driver they prefer to insure. For instance, a profitable customer might be between the ages of 40 and 55, a clean driving record, and drives newer vehicles. A customer getting a price quote who meets those qualifications will get the preferred rates and therefore will save quite a bit of money when switching.

Drivers who don’t measure up to the “perfect” profile will be charged higher premiums and this can result in the driver buying from a lower-cost company. The ads say “customers that switch” but not “drivers who get quotes” save that much money. That’s the way insurance companies can state the savings. That is why drivers must get quotes from several different companies. It’s impossible to know which insurance company will give you the biggest savings on Toyota Corolla insurance.

Save on 1998 Toyota Corolla insurance

Car insurance companies don’t always publicize every discount very well, so we break down both the well known and also the lesser-known discounts you could be receiving.

  • Bundle and Save – When you combine your home and auto insurance with one insurance company you will save approximately 10% to 15%.
  • Sign Online – A few companies give back up to $50 just for signing your application over the internet.
  • Payment Discounts – If paying your policy premium upfront instead of making monthly payments you could save up to 5%.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Toyota could qualify for lower rates on the low mileage vehicles.
  • Driver’s Ed – Cut your cost by having your teen driver take driver’s ed class if offered at their school.
  • Discounts for Safe Drivers – Drivers who avoid accidents may save up to 50% more for Corolla coverage than their less cautious counterparts.
  • Seat Belts Save – Requiring all passengers to use their safety belts can save up to 15% on the medical payments or PIP coverage costs.
  • Air Bag Discount – Vehicles with factory air bags and/or automatic seat belt systems may earn rate discounts of 20% or more.
  • More Vehicles More Savings – Insuring multiple cars or trucks with the same company could earn a price break for each car.
  • Federal Employees – Simply working for the federal government can earn a discount up to 10% for Corolla coverage depending on your company.

As a disclaimer on discounts, most credits do not apply the the whole policy. A few only apply to specific coverage prices like comp or med pay. So despite the fact that it appears you would end up receiving a 100% discount, it doesn’t quite work that way.

Car insurance companies that possibly offer these money-saving discounts are:

Check with all companies you are considering how you can save money. All car insurance discounts may not be available in your state.

Tailor your coverage to you

When buying coverage for your vehicles, there really is no single plan that fits everyone. Coverage needs to be tailored to your specific needs.

These are some specific questions may help you determine if your situation would benefit from an agent’s advice.

  • Should I buy additional glass protection?
  • Should I file a claim if it’s only slightly more than my deductible?
  • What happens if I owe more than my 1998 Toyota Corolla is worth?
  • Am I covered when driving on a suspended license?
  • Can I afford low physical damage deductibles?
  • When should I buy a commercial auto policy?
  • Are rental cars covered under my policy?
  • Do I need roadside assistance coverage?

If you can’t answer these questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, complete this form.

Detailed coverages of your insurance policy

Knowing the specifics of your insurance policy can be of help when determining the best coverages for your vehicles. Policy terminology can be confusing and even agents have difficulty translating policy wording.

Collision coverages – This covers damage to your Corolla from colliding with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things like sideswiping another vehicle, hitting a parking meter, damaging your car on a curb and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. You can also raise the deductible to save money on collision insurance.

Coverage for medical payments – Med pay and PIP coverage reimburse you for immediate expenses for chiropractic care, doctor visits and hospital visits. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not universally available and may carry a deductible

Liability – This provides protection from damages or injuries you inflict on a person or their property in an accident. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers things such as pain and suffering, funeral expenses and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford.

Comprehensive coverages – Comprehensive insurance covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as a broken windshield, hail damage and fire damage. The maximum amount a insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Uninsured and underinsured coverage – This coverage gives you protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your Toyota Corolla.

Since a lot of drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

One last thing

The cheapest 1998 Toyota Corolla insurance can be sourced both online and also from your neighborhood agents, and you need to price shop both to have the best selection. Some insurance companies may not provide the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.

We just covered many ideas to lower your insurance rates. The most important thing to understand is the more providers you compare, the better your comparison will be. Consumers could even find that the best price on auto insurance is with the smaller companies.

Consumers change insurance companies for any number of reasons including delays in responding to claim requests, denial of a claim, policy cancellation or even not issuing a premium refund. Regardless of your reason, finding a great new company is pretty simple and you could end up saving a buck or two.

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