Affordable Insurance for a Toyota Camry in Raleigh

It’s shocking but a large majority of auto insurance policyholders in North Carolina renewed their policy with the same company for well over three years, and nearly 40% of drivers have never shopped around. Many consumers in the United States could save themselves almost 47% a year just by comparing rates, but they don’t know the benefits if they switched to a cheaper policy.

The preferred way to find cheaper prices for Toyota Camry insurance is to start doing an annual price comparison from companies that insure vehicles in Raleigh. Rate comparisons can be done by following these guidelines.

Step 1: Take a little time to learn about how companies set rates and the measures you can control to keep rates low. Many policy risk factors that drive up the price such as inattentive driving and poor credit rating can be controlled by paying attention to minor details. Read the full article for more ideas to find cheap prices and earn larger discounts.

Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like Progressive or State Farm, while independent agencies can give you price quotes from multiple insurance companies. Start a quote

Step 3: Compare the price quotes to your current policy premium to see if switching to a new carrier will save money. If you find a lower rate quote and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.

An important bit of advice to remember is to try to use the same physical damage deductibles and liability limits on every quote and and to get quotes from as many auto insurance providers as possible. This provides an accurate price comparison and a thorough price selection.

Best Toyota Camry insurance rate quotes in North Carolina

The companies in the list below are ready to provide free rate quotes in Raleigh, NC. To get the best car insurance in Raleigh, we suggest you get rate quotes from several of them in order to find the lowest rates.

Toyota Camry coverage analysis

The coverage information shown next showcases estimates of insurance premium costs for Toyota Camry models. Learning how insurance prices are figured can help customers make smart choices when selecting a coverage provider.

Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in specific location which can change coverage prices considerably.

An analysis of deductible level

One of the hardest decisions when shopping for auto insurance is which deductible level should you buy. The comparisons below may help to conceptualize the price difference between high and low coverage deductibles. The first rate quote example uses a $250 comprehensive and collision deductible and the second rate table uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Rate information does not factor in vehicle garaging location which can change premium rates noticeably.

We can derive from the above data that using a $250 deductible will cost you approximately $11 more each month or $132 each year than requesting the higher $500 deductible. Since you would pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you average more than 23 months between claim filings, you would come out ahead if you decide on a higher deductible.

One big caveat is that increasing deductibles to lower your rates means you will have to pay more out-of-pocket when you have a comprehensive or collision claim. That will require enough savings in the event you need to pay the deductible.

The chart below demonstrates how choosing different deductibles and can impact Toyota Camry insurance costs for different age groups of insureds. The rates are based on a married male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Insurance rate increases from tickets or accidents

The illustration below shows how violations and at-fault claims can increase Toyota Camry insurance rates for different age groups of insureds. The prices are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.

Verify you’re earning every discount

Some companies don’t always publicize every discount available in a way that’s easy to find, so the below list has a few of the more common as well as some of the hidden ways to save on insurance.

• Homeowners Savings – Simply owning a home can save you money since home ownership is proof of financial responsibility.
• Driving Data Discount – Policyholders that allow their insurance company to spy on driving patterns through the use of a telematics system such as Allstate’s Drivewise and State Farm’s In-Drive system may see discounts as long as they are good drivers.
• Online Discount – A handful of insurance companies provide a small discount just for signing your application over the internet.
• Switch and Save Discount – Some larger companies reward drivers for switching policies before your current coverage expires. You can save around 10% with this discount.
• Discounts for Federal Employees – Being employed by or retired from a federal job could cut as much as 10% off depending on your insurance provider.
• Accident Free – Claim-free drivers can earn big discounts when compared with frequent claim filers.
• Fewer Miles Equal More Savings – Low annual miles could be rewarded with slightly better insurance rates than normal.
• Military Rewards – Having an actively deployed family member could be rewarded with lower insurance rates.
• Bundle and Save – If you insure your home and vehicles with the same insurance company you may earn 10% to 20% off each policy.

A quick disclaimer, some of the credits will not apply to your bottom line cost. Some only reduce the cost of specific coverages such as liability, collision or medical payments. Even though it appears you could get a free insurance policy, companies don’t profit that way.

The diagram below illustrates the difference between Toyota Camry car insurance rates with and without discounts applied to the policy premium. The rates are based on a female driver, a clean driving record, no claims, North Carolina state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-car, marriage, multi-policy, and homeowner discounts applied.

Some companies that may have some of the above discounts possibly include:

• 21st Century
• Progressive
• State Farm
• Nationwide
• Esurance
• The Hartford

When comparing rates, check with all companies you are considering to apply every possible discount. Depending on the company, some discounts may not be available everywhere. For a list of insurance companies that offer some of these discounts in North Carolina, follow this link.

Car insurance agents are trained to help

Some consumers prefer to talk to an insurance agent and that is recommended in a lot of cases Good insurance agents are very good at helping people manage risk and help file insurance claims. One of the best bonuses of comparing rate quotes online is the fact that you can find cheap rate quotes and still have a local agent. Putting coverage with local agents is important particularly in Raleigh.

After filling out this form (opens in new window), your information is transmitted to participating agents in Raleigh who will gladly provide quotes for your insurance coverage. There is no reason to search for any insurance agencies as quotes are delivered instantly to you. If for some reason you want to get a rate quote from a specific insurance company, you just need to navigate to their website and submit a quote form there.

When finding a local Raleigh insurance agency, there are a couple of types of agencies and how they differ in how they can insure your vehicles. Agents in Raleigh can either be independent (non-exclusive) or exclusive. Either one can handle car insurance, but it’s worth learning the difference in how they write coverage because it can factor into which type of agent you select.

Independent Car Insurance Agents

Agents of this type are not restricted to one company so they can insure your vehicles amongst many companies and potentially find a lower price. To move your coverage to a new company, they simply move your policy to a different company without you having to go to a different agency.

When comparing car insurance prices, we recommend you get several quotes from several independent insurance agents in order to have the best price comparison.

Below is a partial list of independent agents in Raleigh that can possibly get you price quote information.

More insurance agents

Exclusive Car Insurance Agencies

Agents that elect to be exclusive can only write with one company and examples are American Family, State Farm, and Allstate. These agents are not able to provide prices from multiple companies so they have no alternatives for high prices. These agents are well schooled on what they offer and that allows them to sell at a higher price point.

Below are Raleigh exclusive agencies that can give you price quote information.

More insurance agents

Selecting an auto insurance agent requires more thought than just a cheap price quote. You should also get answers to these questions.

• Are they able to provide referrals?
• Who is covered by the car insurance policy?
• How long has the business existed?
• Is the agency active in community causes in Raleigh?
• Do they have cheaper tiers of coverage?
• Which insurance company do they prefer to write with?
• Where would your vehicle be repaired?

Car insurance 101

Having a good grasp of your car insurance policy can help you determine the best coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Below you’ll find typical coverage types found on the average car insurance policy.

Collision coverage

This will pay to fix damage to your Camry resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims like damaging your car on a curb, backing into a parked car and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. You can also raise the deductible on your Camry to get cheaper collision coverage.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for immediate expenses like chiropractic care, X-ray expenses, surgery and prosthetic devices. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist (UM/UIM)

This protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Toyota Camry.

Since many North Carolina drivers only carry the minimum required liability limits (30/60/25), their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Normally these limits are identical to your policy’s liability coverage.

Auto liability

This coverage provides protection from injuries or damage you cause to a person or their property that is your fault. This coverage protects you from claims by other people. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 30/60/25 which stand for $30,000 bodily injury coverage, a limit of $60,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for claims such as medical services, loss of income, repair bills for other people’s vehicles, funeral expenses and bail bonds. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as high a limit as you can afford. North Carolina requires minimum liability limits of 30/60/25 but you should think about purchasing better liability coverage.

The chart below demonstrates why buying the state minimum limits may not be adequate.

Comprehensive insurance

This coverage pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like falling objects, damage from getting keyed, hitting a deer, hitting a bird and hail damage. The most your car insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Do the work, save more money

Throughout this article, we presented a lot of tips how to shop for Toyota Camry insurance online. The key thing to remember is the more companies you get auto insurance rates for, the better chance you’ll have of finding the cheapest Toyota Camry rate quotes. Consumers may even find the biggest savings come from a small local company. Some small companies can often provide lower auto insurance rates in certain areas than their larger competitors like State Farm and Allstate.

Discount Toyota Camry insurance in Raleigh can be purchased both online and with local Raleigh insurance agents, and you need to price shop both in order to have the best chance of saving money. A few companies do not offer internet price quotes and these small, regional companies sell through independent agencies.

While you’re price shopping online, it’s not a good idea to sacrifice coverage to reduce premiums. In many cases, consumers will sacrifice liability coverage limits to discover at claim time that they should have had better coverage. Your goal is to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.

Additional information

• State Car Insurance Guides (GEICO)
• What Car Insurance is Cheapest for a Toyota 4Runner in Raleigh? (FAQ)
• What Insurance is Cheapest for 18 Year Olds in Raleigh? (FAQ)
• Who Has Cheap Auto Insurance Rates for Handicapped Drivers in Raleigh? (FAQ)
• Who Has the Cheapest Raleigh Car Insurance for Low Mileage Drivers? (FAQ)
• Who Has Affordable Auto Insurance Rates for Drivers Over Age 70 in Raleigh? (FAQ)
• What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
• Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)