2023 Toyota Camry Car Insurance Rates in 2024 – 5 Ways to Save

Do you think you bought overpriced insurance coverage? Don’t feel bad because there are many people just like you. Big companies like Allstate, Progressive and GEICO constantly blast consumers with advertising and consumers find it hard to ignore the promise of big savings and take the time to shop coverage around.

More discounts mean cheap premiums

Some insurers don’t always advertise every policy discount very clearly, so the list below contains a few of the more well known and also the more inconspicuous ways to save on auto insurance. If you are not receiving all the discounts available, you could be paying more than you need to.

• Active Service Discounts – Having an actively deployed family member could be rewarded with lower rates.
• Early Payment Discounts – If you pay your bill all at once instead of making monthly payments you may reduce your total bill.
• Early Signing – A few insurance companies offer discounts for switching to them before your current coverage expires. Ten percent is about the average savings.
• Low Miles Discount – Keeping the miles down on your Toyota may enable drivers to earn slightly better auto insurance rates than normal.
• Sign Online – Some of the larger companies give back up to $50 simply for signing on your computer.

A quick disclaimer, most discounts do not apply to the entire policy premium. Most cut individual premiums such as comp or med pay. Even though it may seem like you could get a free auto insurance policy, nobody gets a free ride.

Auto insurance companies that may include these discounts include:

• GEICO
• Auto-Owners Insurance
• American Family
• Esurance
• Progressive
• State Farm
• AAA

Before buying, ask every insurance company how many discounts you can get. A few discounts might not be offered in your area. To find auto insurance companies that can offer you the previously mentioned discounts, enter your zip code here.

It’s not one size fits all

When it comes to buying proper insurance coverage, there really is not a best way to insure your cars. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions can help discover whether you might need an agent’s assistance.

• Do I need medical payments coverage since I have good health insurance?
• Where can I get insurance after a DUI in my state?
• Can my teen driver be rated on a liability-only vehicle?
• Am I better off with higher deductibles on my 2023 Toyota Camry?
• When should I remove comp and collision on my 2023 Toyota Camry?
• Can I afford to buy a different vehicle if my 2023 Toyota Camry is totaled?
• I have good health insurance, so how much medical payments coverage do I need?

If you can’t answer these questions but you know they apply to you, you may need to chat with a licensed agent. To find lower rates from a local agent, take a second and enter your zip code. It’s fast, doesn’t cost anything and you can get the answers you need.

Car insurance coverages 101

Knowing the specifics of car insurance helps when choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. Shown next are the usual coverages found on the average car insurance policy.

Collision coverage – Collision insurance will pay to fix damage to your Camry from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims such as damaging your car on a curb, crashing into a ditch, rolling your car and hitting a parking meter. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. You can also bump up the deductible to get cheaper collision coverage.

Comprehensive coverage – Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as damage from getting keyed, theft and rock chips in glass. The maximum payout your car insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage kick in for bills for nursing services, rehabilitation expenses and surgery. They are often used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Toyota Camry.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Usually these limits do not exceed the liability coverage limits.

Liability coverages – Liability insurance will cover damage or injury you incur to other’s property or people. It protects you from claims by other people. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property. Occasionally you may see one number which is a combined single limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage protects against things like repair costs for stationary objects, funeral expenses, legal defense fees, loss of income and structural damage. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible.

Be a Smart Shopper

Some companies may not provide rates over the internet regional carriers only sell coverage through local independent agencies. Lower-priced 2023 Toyota Camry insurance is possible from both online companies and with local insurance agents, so you need to compare both to have the best selection.

As you quote insurance coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. There have been many situations where someone sacrificed full coverage and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. Your objective should be to buy a smart amount of coverage for the lowest cost while still protecting your assets.

You just learned a lot of techniques to get a better price on 2023 Toyota Camry insurance. The key thing to remember is the more companies you get auto insurance rates for, the better chance you’ll have of finding affordable insurance coverage. Consumers could even find that the lowest rates come from a small mutual company. Regional companies may have significantly lower auto insurance rates on certain market segments than the large multi-state companies such as Allstate or State Farm.