Buying economical insurance for a Toyota Highlander is dependent upon many different factors such as when you were born, if you are a frequent claim filer, and if you have a history of accidents. Drivers will pay around $914 each year for Highlander insurance, but that cost is a valuation based upon a 30-year-old married male driver with both comprehensive and collision coverage and $100 deductibles.
There’s a good chance you may not be 30 years old (or even male), you might be single instead of married, or you just want cheap liability insurance instead of full coverage. This demonstrates why the only real way to find cheap insurance prices for your Toyota is to just compare rates yourself.
The specific trim level tends to have a direct impact on the yearly cost, so the price you will be charged to insure a Highlander 2WD trim level will be $194 lower than the price to insure the more expensive Highlander Hybrid Limited 4WD model, as shown below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Highlander 2WD | $214 | $318 | $250 | $14 | $74 | $870 | $73 |
| Highlander 4WD | $242 | $386 | $250 | $14 | $74 | $966 | $81 |
| Highlander Sport 4WD | $242 | $386 | $250 | $14 | $74 | $966 | $81 |
| Highlander SE 2WD | $242 | $386 | $250 | $14 | $74 | $966 | $81 |
| Highlander Sport 2WD | $242 | $386 | $250 | $14 | $74 | $966 | $81 |
| Highlander Limited 2WD | $270 | $456 | $250 | $14 | $74 | $1,064 | $89 |
| Highlander SE 4WD | $270 | $456 | $250 | $14 | $74 | $1,064 | $89 |
| Highlander Limited 4WD | $270 | $456 | $250 | $14 | $74 | $1,064 | $89 |
| Highlander Hybrid 4WD | $270 | $456 | $250 | $14 | $74 | $1,064 | $89 |
| Highlander Hybrid Limited 4WD | $270 | $456 | $250 | $14 | $74 | $1,064 | $89 |
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Premium amounts do not factor in zip code location which can influence auto insurance rates significantly.
Deciphering which companies have the cheapest car insurance rates for a Toyota Highlander may require more time in order to find a policy that fits your budget.
Every auto insurer has a unique approach for determining prices, so let’s rank the car insurance companies with the overall cheapest rates in Raleigh, NC. We do need to point out that Raleigh, NC car insurance rates are determined by lots of factors that control the policy price. Improving your credit rating, marrying your spouse, or getting a reckless driving citation can trigger price changes that can cause some rates to be more affordable than competitors.
Cheap Insurance Rates for Your Highlander
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $658 |
| 2 | Utica National | $662 |
| 3 | Liberty Mutual | $707 |
| 4 | NC Farm Bureau | $730 |
| 5 | Penn National | $747 |
| 6 | GEICO | $750 |
| 7 | Titan | $751 |
| 8 | State Farm | $772 |
| 9 | Auto-Owners | $870 |
| 10 | National General | $890 |
| 11 | Allied | $919 |
| 12 | Erie | $922 |
| 13 | Travelers | $927 |
| 14 | Peerless | $1,002 |
| 15 | Nationwide | $1,011 |
| 16 | Unitrin | $1,012 |
| 17 | MetLife | $1,038 |
| 18 | Allstate | $1,054 |
| 19 | Safeco | $1,066 |
| 20 | Encompass | $1,073 |
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Progressive normally has some of the lowest car insurance rates in Raleigh at around $658 annually. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also are some of the more affordable Raleigh, NC insurance companies.
As illustrated above, if you currently have a policy with Liberty Mutual and switched to Progressive, you might see savings of roughly $49. Policyholders with NC Farm Bureau could save as much as $72 a year, and Penn National insureds might see rate reductions of $89 a year.
Remember that these policy prices are averages for all ages of drivers and types of vehicles and do not factor in a specific zip code for a Toyota Highlander. So the insurer that has the lowest price for you may not even be in the list above. That illustrates why you need to quote rates from as many companies as possible using your own specific driver information and vehicle.
Full coverage versus liability-only in Raleigh
Finding cheaper car insurance is the goal of most vehicle owners, and a good way to lower the cost of insurance for a Toyota Highlander is to not buy comprehensive and collision coverage. The diagram below illustrates the difference between insurance costs with and without physical damage coverage. The data assumes no driving violations, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are applied.
Averaged for all age groups, comp and collision coverage costs $1,310 per year more than just insuring for liability. Many drivers may wonder if buying full coverage is a waste of money. There is no definitive formula for eliminating physical damage insurance, but there is a general convention. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
There are some cases where removing full coverage is not recommended. If you haven’t paid off your loan, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage on your policy.
Are you paying too much for car insurance?
North Carolina car insurance rates are influenced by many factors that control the cost of a policy. Simply turning a year older, buying another vehicle, or getting a DUI can produce rate changes that can make some companies cheaper than before.
Not only that, but auto insurance companies amend premium rates as needed to help ensure profitability. Significantly higher claims may cause additional premium costs, while less frequent claims can result in cheaper Highlander insurance rates.
For example, the chart below compares the cheapest car insurance in Raleigh, NC for a 35-year-old male driver with a clean driving record, no accidents, and good financial standing. Based on his current risk profile, Utica National might offer the cheapest car insurance rates in Raleigh at $703 each year. This is $169 less than the average policy premium paid by North Carolina drivers of $872. Progressive, NC Farm Bureau, Penn National, and Liberty Mutual also make the list of the cheapest Raleigh, NC auto insurance companies.
In this next rate comparison, we will give the driver from the above example a chargeable claim, a lower credit score, and a few blemishes on his driving record. Because each insurer has their own unique process to establish rates, comparing prices may now result in a substantially altered list of the cheapest Raleigh car insurance companies as shown below.
GEICO now has the best price on car insurance in Raleigh, NC with State Farm, Auto-Owners, National General, and Allied also having competitive pricing. This example illustrates why consumers need to shop around with many companies to find affordable car insurance quotes for a Toyota Highlander. Prices can be altered by many things and can change substantially, so the most affordable company when you bought your policy may now not even be in the top five.