Cheapest Insurance for a Toyota Prius in Raleigh

Do you get confused by the sheer number of auto insurance choices in Raleigh? You’re not alone. Vehicle owners have so many choices available that it is hard work to find a more affordable company. Raleigh is a great city to raise a family in, but expensive premiums for auto insurance can make it very difficult to maintain proper levels of coverage.

It’s an obvious conclusion that car insurance companies want to keep your business as long as possible. Drivers who compare price quotes are inclined to switch to a new company because of the good chance of finding more affordable rates. Surprisingly, a recent survey revealed that drivers who faithfully checked for cheaper rates saved as much as $865 annually as compared to drivers who never shopped around.

If finding the lowest rates on car insurance is why you’re here, knowing how to get price quotes and compare insurance can help you be more efficient.

If you have coverage now, you will surely be able to buy cheaper insurance using the concepts you’re about to learn. Finding and comparing the best-priced policy in Raleigh is not as difficult as people think. But North Carolina drivers must understand the way companies calculate your insurance rates and take advantage of how the system works.

Cheaper rates by taking advantage of discounts

Auto insurance companies don’t always list every discount they offer in an easy-to-find place, so here is a list both well-publicized and the harder-to-find discounts that may be available. If you check and find you aren’t receiving every discount you qualify for, you are not getting the best rate possible.

• Early Renewal Discounts – Some larger companies give discounts for switching to them prior to your current Prius insurance policy expiring. You can save around 10% with this discount.
• Raleigh Homeowners Pay Less – Owning a home in Raleigh can save a few bucks since home ownership shows financial diligence.
• Auto/Life Discount – Some companies give a discount if you purchase life insurance.
• Policy Bundle Discount – When you combine your auto and homeowners insurance with one company you could save 10% to 20% off each policy.
• New Car Discount – Buying insurance on a new vehicle can cost up to 25% less because newer models keep occupants safer.
• Multiple Cars – Buying a policy with several vehicles on a single policy can get a discount on all vehicles.
• Driving Data Discount – Insureds who allow their company to look at vehicle usage by using a telematic data system like Drivewise from Allstate or In-Drive from State Farm may get a rate reduction as long as they are good drivers.
• Paper-free Discount – Some companies provide a small discount simply for signing on the web.

A little disclaimer on discounts, some credits don’t apply to the whole policy. Most only reduce the price of certain insurance coverages like medical payments or collision. So when the math indicates all the discounts add up to a free policy, you’re out of luck.

The diagram below shows the difference between Toyota Prius insurance costs with and without policy discounts. The premium estimates are based on a female driver, a clean driving record, no at-fault accidents, North Carolina state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, multi-car, marriage, and multi-policy discounts applied.

A list of companies and their offered discounts are shown below.

• State Farm discounts include multiple policy, safe vehicle, defensive driving training, driver’s education, student away at school, accident-free, and passive restraint.
• GEICO offers premium reductions for good student, federal employee, five-year accident-free, seat belt use, daytime running lights, anti-lock brakes, and anti-theft.
• Progressive offers discounts including continuous coverage, good student, online signing, multi-policy, multi-vehicle, and homeowner.
• 21st Century has savings for 55 and older, student driver, teen driver, anti-lock brakes, and theft prevention.
• American Family offers discounts for good driver, defensive driver, bundled insurance, TimeAway discount, and air bags.
• The Hartford may have discounts that include good student, bundle, driver training, air bag, anti-theft, defensive driver, and vehicle fuel type.
• AAA includes discounts for education and occupation, AAA membership discount, good student, anti-theft, and multi-policy.

Check with each insurance company the best way to save money. Some of the discounts discussed earlier might not be available to policyholders in your state.

When shopping for affordable Toyota Prius insurance quotes, there are a couple of ways of comparing rate quotes from all the different companies. The quickest method to find the lowest Toyota Prius rates involves getting comparison quotes online.

When comparison shopping, comparing more quotes helps increase your odds of locating the best offered rates.

The following companies offer quotes in Raleigh, NC. To find the best auto insurance in Raleigh, it’s highly recommended you visit as many as you can to get the best price comparison.

Statistics and details

The premium table displayed below showcases detailed analysis of policy rates for Toyota Prius models. Learning how auto insurance premiums are formulated can be valuable when making decisions on the best policy to buy.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Price estimates do not factor in zip code location which can influence coverage rates noticeably.

Can higher deductibles save money?

When shopping for car insurance, a common question is how high should the physical damage coverage deductibles be. The comparison tables below illustrate the rate difference of buying low and high comp and collision deductibles. The first price estimate table uses a $100 deductible for comprehensive and collision coverage and the second set of rates uses a $1,000 deductible.

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Prices do not factor in specific Raleigh garaging location which can affect insurance rates substantially.

Based on the figures above, using a $100 deductible will cost you about $26 more each month or $312 each year than opting for the higher $1,000 deductible. Because you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you go at least 35 months between claim filings, you would probably come out ahead if you decide on a higher deductible.

How careless driving impacts Raleigh car insurance rates

The example below illustrates how speeding tickets and at-fault fender-benders can drive up Toyota Prius auto insurance rates for different age categories. The price estimates are based on a single female driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.

Toyota Prius insurance rates by gender in Raleigh

The chart below shows the difference between Toyota Prius insurance costs for male and female drivers. The data is based on no claims or driving violations, comprehensive and collision coverage, $1,000 deductibles, single marital status, and no discounts are applied.

Full coverage versus liability-only in Raleigh

The information below visualizes the comparison of Toyota Prius yearly insurance costs with liability coverage only compared to full coverage. Data assumes no tickets, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

Deciding between full coverage and liability only

There is no clear-cut formula that works best for making the decision to drop physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your Toyota Prius book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $4,000 after you pay the deductible. If you are paying more than $400 a year for full coverage, then you might consider buying liability only.

There are a few cases where dropping physical damage coverage is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not remove full coverage.

Why Your Insurance Prices might be higher

When buying insurance it’s important to understand some of the factors that aid in calculating the rates you pay for insurance. If you have a feel for what impacts premium levels, this empowers consumers to make smart changes that could result in lower insurance prices. Lots of factors are part of the calculation when pricing auto insurance. Most are fairly basic such as your driving history, although others are not as apparent like your vehicle usage or your vehicle rating.

The following are some of the major factors that factor into your prices.

High performance vehicles cost more to insure – The make and model of the car, truck or SUV you drive makes a big difference in your premium level. Lower cost passenger vehicles receive the most favorable rates, but there are many factors that impact the final cost.

The next chart uses these assumptions: married male driver age 20, full coverage with $500 deductibles, and no discounts or violations. The chart compares Toyota Prius policy rates compared to other vehicles that have different performances.

Reduce prices by driving safer cars – Vehicles that have high safety ratings tend to be cheaper to insure. Vehicles engineered for safety help reduce the chance of injuries in an accident and fewer serious injuries means less claims paid and cheaper rates on your policy. If your Toyota Prius earned at least four stars on Safercar.gov you may qualify for a discount.

Use but don’t abuse your insurance – If you frequently file small claims, you should expect higher premiums or even policy non-renewal. Companies in North Carolina generally give most affordable rates to drivers that do not abuse their auto insurance. Your car insurance is intended for the bigger claims that can’t be paid out-of-pocket.

Lower premiums with alarms and GPS tracking – Choosing a vehicle with an alarm system can help bring down rates. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping auto theft and help lower rates.

Avoid unnecessary add-on coverages – Policies have add-on coverages that sound like a good idea at the time on your insurance policy. Insurance for replacement cost coverage, accidental death, and motor club memberships could be just wasting money. These coverages may sound good initially, but if you have no use for them remove them and pocket the money.

Where you live can affect rates – Having an address in small towns and rural areas is a positive aspect when trying to find low car insurance rates. Drivers in populated areas tend to have more auto accidents and a longer drive to work. Less people living in that area means fewer accidents as well as less vandalism and auto theft.

Insurance loss probability for a Toyota Prius – Car insurance companies analyze claim trends for every vehicle when they set coverage costs for each model. Vehicles that are shown to have increased losses will have higher premium rates.

The information below illustrates the historical insurance loss data for Toyota Prius vehicles. For each type of coverage, the loss probability for all vehicles combined as an average is represented as 100. Values that are below 100 suggest a better than average loss history, while percentage numbers above 100 show a trend for more claims or tendency to have higher losses.

Can’t I get rate quotes from local Raleigh insurance agents?

A lot of people still like to sit down and talk to an agent and we recommend doing that The biggest benefit of comparing insurance prices online is the fact that you can find cheap car insurance rates but also keep your business local.

To make it easy to find an agent, after completing this short form, the quote information is sent to agents in your area that give free quotes to get your business. It’s much easier because you don’t need to search for any insurance agencies since price quotes are sent immediately to you. It’s the lowest rates AND an agent nearby. In the event you want to compare prices from a specific company, just search and find their rate quote page and complete a quote there.

Deciding on an insurance company shouldn’t rely on just the quoted price. The answers to these questions are important, too.

• What will you get paid if your car is a total loss? How is that amount determined?
• Will they give you a referral list?
• Do they have designations such as AIC, CPCU, or CIC?
• Do they write coverage based solely on cost?
• How are they compensated?
• Will you get a loaner vehicle if you car is being repaired?
• Does their agency support local causes in Raleigh?

Is an exclusive or independent car insurance agent right for you?

If you’re trying to find a local agent, you need to know there are two types of agencies and how they are slightly different. Car insurance agents are classified as either independent or exclusive.

Exclusive Insurance Agents

Exclusive insurance agents can only provide pricing for a single company and some examples include American Family, State Farm, and Allstate. They are unable to provide prices from multiple companies so they have to upsell other benefits. Exclusive insurance agents are trained well on their company’s products which helps overcome the inability to quote other rates. Some consumers prefer to purchase coverage from exclusives mostly because of the prominence of the brand and the convenience of having all coverages with one company.

Listed below is a short list of exclusive agents in Raleigh who can help you get price quote information.

• Gina Tickle – State Farm Insurance Agent
  8212 Creedmoor Rd #101 – Raleigh, NC 27613 – (919) 847-9774 – View Map
• Mary Wilson – State Farm Insurance – Raleigh
  9660 Falls of Neuse Rd #165 – Raleigh, NC 27615 – (919) 872-1225 – View Map
• Amanda Hagood – State Farm Insurance Agent
  5910 Duraleigh Rd #135 – Raleigh, NC 27612 – (919) 834-3615 – View Map

View more Raleigh agents

Independent Agents (or Brokers)

These agents are not employed by one company so as a result can place your coverage with a variety of different insurance companies and help determine which has the cheapest rates. To move your coverage to a new company, they simply move your policy to a different company and that require little work on your part. When comparison shopping, you will definitely want to include price quotes from at least one independent agent to maximize your price options. Most have the option of insuring with lesser-known insurance companies that many times have cheaper rates.

Below is a short list of independent insurance agents in Raleigh that are able to give rate quotes.

• Young Insurance Associates, Inc
  2609 Atlantic Ave #107 – Raleigh, NC 27604 – (919) 322-4186 – View Map
• Superior Insurance of Raleigh
  2431 Spring Forest Rd #123 – Raleigh, NC 27615 – (919) 261-6164 – View Map
• Chapman Insurance Agency, Inc.
  6829 Falls of Neuse Rd #103 – Raleigh, NC 27615 – (919) 676-5066 – View Map

View more Raleigh agents

Auto insurance is an important decision

Despite the high cost, maintaining insurance is mandatory in North Carolina but it also protects more than you think.

First, almost all states have mandatory liability insurance requirements which means you are required to carry a specific level of liability protection in order to drive the car legally. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you bought your Prius with a loan, most lenders will require that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank may buy a policy for your Toyota at a much higher rate and require you to pay for it.

Third, insurance protects both your assets and your car. It also can pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.

The benefits of having auto insurance are without a doubt worth the cost, especially if you ever need it. In a recent study of 1,000 drivers, the average customer is wasting up to $865 each year so it’s recommended you shop around every year to be sure current rates are still competitive.

Auto insurance company ratings

Ending up with the top auto insurance company can be difficult considering how many companies sell coverage in North Carolina. The rank data shown next could help you choose which insurers to look at purchasing from.

Top 10 Raleigh Car Insurance Companies by A.M. Best Rank

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Titan Insurance – A+
6. Esurance – A+
7. Progressive – A+
8. The Hartford – A+
9. Allstate – A+
10. Nationwide – A+

Top 10 Raleigh Car Insurance Companies Ranked by Customer Satisfaction

1. USAA – 91%
2. AAA Insurance – 90%
3. Esurance – 90%
4. Mercury Insurance – 89%
5. Nationwide – 89%
6. Travelers – 88%
7. Progressive – 88%
8. Safeco Insurance – 88%
9. State Farm – 88%
10. Allstate – 88%

Shop around and save

People change insurance companies for a variety of reasons including not issuing a premium refund, extreme rates for teen drivers, questionable increases in premium or lack of trust in their agent. Regardless of your reason for switching companies, switching auto insurance companies can be easy and end up saving you some money.

As you go through the steps to switch your coverage, it’s not a good idea to buy lower coverage limits just to save a few bucks. Too many times, drivers have reduced collision coverage to discover at claim time they didn’t purchase enough coverage. The ultimate goal is to find the BEST coverage at the best price.

In this article, we covered quite a bit of information on how to lower your Toyota Prius insurance premium rates in Raleigh. The key concept to understand is the more price quotes you have, the better your comparison will be. Consumers could even find that the most savings is with a company that doesn’t do a lot of advertising.

Steps to finding better rates for Toyota Prius insurance in Raleigh

It takes a little time, but the best way to find low-cost prices for Toyota Prius insurance in Raleigh is to make a habit of comparing prices annually from providers that sell auto insurance in North Carolina.

First, try to comprehend the coverage provided by your policy and the modifications you can make to prevent expensive coverage. Many rating factors that drive up the price such as distracted driving and your credit history can be remedied by making minor changes in your lifestyle.

Second, request rate estimates from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like GEICO and Allstate, while independent agents can provide rate quotes for a wide range of insurance providers.

Third, compare the new rate quotes to the price on your current policy to see if switching to a new carrier will save money. If you can save money and decide to switch, ensure coverage does not lapse between policies.

Fourth, give proper notification to your current agent or company to cancel your current coverage and submit a down payment along with a completed application to your new carrier. When you receive it, safely store the proof of insurance paperwork along with the vehicle’s registration papers.

A tip to remember is to use the same physical damage deductibles and liability limits on every quote and and to look at as many different insurance providers as possible. Doing this provides a fair rate comparison and a thorough price selection.

Even more information can be read in these articles:

• Vehicle Insurance in the U.S. (Wikipedia)
• What Car Insurance is Cheapest for Inexperienced Drivers in Raleigh? (FAQ)
• Who Has Cheap Raleigh Auto Insurance for Seniors? (FAQ)
• How Much is Car Insurance for Ride Shares in Raleigh? (FAQ)
• How Much is Auto Insurance for First-time Drivers in Raleigh? (FAQ)
• Teen Driving and Texting (State Farm)
• Frontal Crash Tests (iihs.org)