Remarkably, a study showed that a large majority of auto insurance policyholders in California have bought auto insurance from the same company for a minimum of four years, and 38% of customers have never quoted auto insurance rates at all. American insurance shoppers can save hundreds of dollars each year by just comparing rate quotes, but they assume it’s a waste of time to compare rate quotes.
Truthfully, the best way to find low-cost Toyota Camry Hybrid insurance is to make a habit of comparing prices annually from insurers in Stockton. Rate comparisons can be done by completing these steps.
Step 1: Spend a few minutes and learn about how auto insurance works and the steps you can take to keep rates low. Many things that result in higher rates such as tickets, at-fault accidents, and an imperfect credit rating can be improved by making minor changes in your lifestyle. Keep reading for additional tips to help prevent expensive coverage and find discounts that you may qualify for.
Step 2: Compare price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like GEICO or Allstate, while agents who are independent can quote rates for a wide range of insurance providers. Compare rates
Step 3: Compare the new rate quotes to your current policy to see if a cheaper price is available in Stockton. If you can save money and make a switch, verify that coverage does not lapse between policies.
The key thing to remember is to compare identical coverages on each price quote and and to analyze as many car insurance companies as possible. Doing this enables a level playing field and a good representation of prices.
If you have a current insurance policy or need new coverage, follow these tips to lower your rates while maintaining coverages. Finding the cheapest insurance coverage in Stockton is quite easy if you know the best way to do it. Smart buyers just need to know the best way to get comparison quotes from many companies at once.
Learn How to Lower Your Insurance Prices
Consumers need to have an understanding of some of the things that help calculate the level of your policy premiums. If you understand what controls the rates you pay, this empowers consumers to make smart changes that could help you find big savings.
Shown below are some of the things used by your company to calculate your rates.
Cheaper prices for prior coverage – Driving your car without having proper coverage is illegal and you will pay a penalty because you let your insurance lapse for non-payment. Not only will rates go up, failure to provide proof of insurance could earn you a license revocation or jail time.
Lower insurance rates with alarms and GPS tracking – Driving a car with a theft deterrent system can help bring down rates. Anti-theft features such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack help track and prevent auto theft and help lower rates.
Married people drive safer – Having a spouse may earn you lower rates compared to being single. Marriage may mean you are less irresponsible and statistics show drivers who are married file infrequent claims.
Expect high rates for teens – Young drivers in California are statistically proven to be more careless behind the wheel so they pay higher insurance rates. Having to add a youthful driver to your policy will cause a huge premium hike. Older insureds are viewed as being more responsible, file fewer claims, and are generally more financially stable.
The following chart uses these variables: single driver, full coverage with $250 deductibles, and no discounts or violations.
Toyota Camry Hybrid claim data – Auto insurance companies include the past claim trends for vehicles as a tool for profitable underwriting. Vehicles that the data determines to have higher losses will have higher premium rates. The next table shows the historical loss data for Toyota Camry Hybrid vehicles.
For each policy coverage, the claim amount for all vehicles, regardless of make, model or trim level, is represented as 100. Numbers that are below 100 suggest a positive loss record, while values over 100 point to more claims or statistically larger losses.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Camry Hybrid | 124 | 100 | 110 | 118 | 127 | 96 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Toyota Camry Hybrid insurance coverage information
The premium table displayed next outlines detailed analysis of insurance rates for Toyota Camry Hybrid models. Having a good grasp of how auto insurance premiums are figured is important for drivers to make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Camry Hybrid | $216 | $392 | $514 | $30 | $154 | $1,306 | $109 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and California minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Rate information does not factor in the specific area where the vehicle is garaged which can affect auto insurance rates greatly.
Comparison of policy deductibles
One of the most common auto insurance questions is at what level do you set your deductibles. The tables below sum up the costs and benefits between high and low insurance deductibles. The first price estimate table uses a $100 deductible for comprehensive and collision coverage and the second rate chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Camry Hybrid | $430 | $810 | $500 | $30 | $150 | $1,945 | $162 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Camry Hybrid | $314 | $546 | $500 | $30 | $150 | $1,540 | $128 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Price estimates do not factor in the specific area where the vehicle is garaged which can decrease or increase coverage prices significantly.
Based on the figures above, using a $100 deductible would cost the average driver about $34 more each month or $408 each year averaged for all Camry Hybrid models than selecting the higher $500 deductible. Since you would have to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you usually have at a minimum 12 months between claims, you would probably come out ahead if you opt for a higher deductible.
How to determine when to raise deductibles
| Average monthly premium for $100 deductibles: | $162 |
| Average monthly premium for $500 deductibles (subtract): | – $128 |
| Monthly savings from raising deductible: | $34 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $34 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 12 months |
Insurance rate increases from tickets or accidents
The example below illustrates how speeding tickets and at-fault fender-benders can impact Toyota Camry Hybrid insurance costs for different age categories. The rate quotes are based on a married male driver, comp and collision included, $250 deductibles, and no policy discounts are applied.
Impact of age and gender on auto insurance rates
The diagram below compares Toyota Camry Hybrid car insurance rates for male and female drivers. Data assumes a clean driving record, no claims, full physical damage coverage, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Comparison of full coverage and liability-only policies
The illustration below visualizes the comparison of Toyota Camry Hybrid annual premium costs when comparing full coverage to state minimum liability only. Data assumes no accidents, no driving violations, $250 deductibles, drivers are single, and no policy discounts are applied.
When to stop paying for full coverage
There is no set rule to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your Toyota Camry Hybrid replacement cost is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after the deductible is paid. If you are paying over $800 a year for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are some situations where buying only liability insurance is not in your best interest. If you still owe a portion of the original loan, you have to keep full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
Affordable rates by receiving discounts
Properly insuring your vehicles can get expensive, but you might be missing out on some discounts to reduce the price significantly. Some trigger automatically when you purchase, but some may not be applied and must be specially asked for before being credited.
- ABS and Traction Control Discounts – Anti-lock brake equipped vehicles are much safer to drive and earn discounts up to 10%.
- Buy New and Save – Putting coverage on a new Camry Hybrid can cost up to 25% less due to better safety requirements for new model year vehicles.
- Stockton Homeowners Discount – Just owning your own home can get you a discount because maintaining a house requires a higher level of personal finance.
- Professional Memberships – Being a member of qualifying clubs or civic groups could trigger savings when getting a Stockton auto insurance quote.
- Defensive Driver – Participating in a course teaching driver safety skills could possibly earn you a 5% discount if your company offers it.
- Driver’s Education for Students – Cut your cost by having your teen driver enroll in driver’s education as it will make them better drivers and lower rates.
- Auto/Life Discount – Select companies reward you with better rates if you take out a life insurance policy as well.
- No Accidents – Drivers with accident-free driving histories are rewarded with significantly better rates on Stockton auto insurance quote when compared to drivers with a long claim history.
- Good Student Discount – A discount for being a good student can save 20 to 25%. You can use this discount normally until age 25.
- Drive Less and Save – Driving fewer miles could earn substantially lower rates.
One thing to note about discounts is that some of the credits will not apply to the entire cost. Most cut the cost of specific coverages such as collision or personal injury protection. So despite the fact that it appears adding up those discounts means a free policy, company stockholders wouldn’t be very happy.
The chart below illustrates the difference between Toyota Camry Hybrid insurance costs with and without discounts. The prices are based on a female driver, no tickets, no at-fault accidents, California state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, marriage, homeowner, safe-driver, and multi-policy discounts applied.
To see a list of insurance companies with the best Toyota Camry Hybrid insurance discounts in Stockton in Stockton, follow this link.
Don’t give up on cheaper premiums
Discount Toyota Camry Hybrid insurance in Stockton is available online and with local Stockton insurance agents, so get free Stockton auto insurance quotes from both of them to have the best rate selection. Some insurance providers do not provide rate quotes online and these small, regional companies only sell coverage through independent insurance agents.
As you prepare to switch companies, you should never reduce coverage to reduce premium. In too many instances, someone sacrificed uninsured motorist or liability limits only to regret at claim time that the savings was not a smart move. The aim is to buy enough coverage at an affordable rate, but do not sacrifice coverage to save money.
You just read a lot of ways to lower your Toyota Camry Hybrid insurance premium rates in Stockton. The most important thing to understand is the more companies you get prices for, the better your comparison will be. Consumers could even find that the lowest premium rates are with an unexpected company. They may have significantly lower prices on certain market segments than the large multi-state companies such as State Farm or Progressive.
Additional auto insurance information is located on the following sites:
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Who Has Cheap Car Insurance Rates for State Employees in Stockton? (FAQ)
- Who Has Cheap Auto Insurance Rates for College Students in Stockton? (FAQ)
- Who Has the Cheapest Car Insurance Rates for a Chevrolet Equinox in Stockton? (FAQ)
- How Much are Car Insurance Quotes for a 20 Year Old Female in Stockton? (FAQ)
- Who Has Cheap Car Insurance for a Honda CR-V in Stockton? (FAQ)
- Cellphones, Texting and Driving (iihs.org)
- Electronic Stability Control FAQ (iihs.org)
- Information for Teen Drivers (GEICO)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)