Buying competitive insurance for a Toyota Corolla hinges on a lot of factors such as whether you are single or married, your claims history, and if you have a history of accidents. Drivers will pay around $1,009 a year for Corolla insurance, but that figure is a projection based on a 30-year-old married male driver with full physical damage coverage and $1,000 deductibles.
There’s a high likelihood you may not be 30 years old (or even male), you might be single instead of married, or maybe you have a teenager that needs to be on your policy. Insurance is an individual thing, so the only way to find cheap auto insurance rates for your Toyota is to compare as many rates as you can.
The specific model of Corolla will most likely have an effect on the insurance rate, so the price you will be charged to insure a Corolla LE model will be $28 cheaper than the insurance cost for the more well-appointed Corolla XRS model, as demonstrated by the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Rate quotes do not factor in specific location which can impact auto insurance rates significantly.
Determining which companies offer the best car insurance rates for a Toyota Corolla may require a bit more effort than just comparing rates from one or two companies.
Every insurance provider has a different formula for determining rates, so let’s take a look at the lowest cost car insurance companies in Oklahoma.
Best Auto Insurance Prices for Your Corolla
|Rank||Company||Cost Per Year|
|2||Oklahoma Farmers Union||$1,190|
|11||OK Farm Bureau||$2,018|
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USAA may offer some of the most affordable car insurance rates in Tulsa at around $1,161 per year. Oklahoma Farmers Union, GEICO, The Hartford, and Safe Auto also rank well as some of the lowest-priced Tulsa, OK car insurance companies.
In this example, if you are a customer of The Hartford and switched to Oklahoma Farmers Union, you may see an annual savings of in the vicinity of $169. Insureds with Safe Auto may save as much as $215 a year, and Farmers customers might see rate reductions of $232 a year.
To find out how much you can save, click here to begin a quote or visit any of the low-priced companies below.
These premium estimates are averages across all types of drivers and the different vehicles they drive and and are not calculated with an exact location for a Toyota Corolla. So the car insurance company that fits your needs best may not even be in the top 17 companies shown above. That helps illustrate why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
The illustration below shows how choosing a deductible can influence premium costs when quoting cheap insurance for a Toyota Corolla. The premium estimates are based on a married male driver, full coverage, and no additional discounts are factored in.
The chart above illustrates that a 50-year-old driver could pocket $422 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $636 by switching to a $1,000 deductible. Even younger insureds, such as the Age 20 example, have the ability to save $1,420 annually just by using higher deductibles.
If you do make the decision to raise your deductibles, it will now be necessary to have emergency funds available to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
How to get discounts on Tulsa insurance rates
Insurers that sell policies for a Toyota Corolla may provide special discounts that may potentially lower prices by as much as 25% or more if you meet specific eligibility requirements. Large car insurance companies and some of their more popular discounts are shown below.
- 21st Century offers discounts including 55 and older, defensive driver, teen driver, homeowners, anti-lock brakes, good student, and air bags.
- State Farm has savings for accident-free, driver’s education, good student, anti-theft, multiple autos, and defensive driving training.
- AAA has discounts for good student, multi-policy, anti-theft, AAA membership discount, multi-car, good driver, and pay-in-full.
- Liberty Mutual may have discounts that include newly retired, new vehicle discount, new move discount, hybrid vehicle, good student, and new graduate.
- Progressive may offer discounts for multi-policy, homeowner, multi-vehicle, continuous coverage, and online quote discount.
The chart below illustrates the comparison of insurance costs with and without discounts applied to the policy rates. The rates are based on a male driver, no claims or driving citations, Oklahoma state minimum liability limits, full coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with vehicle safety, marriage, claim-free, accident-free, safe-driver, and homeowner discounts applied. When taking advantage of discounts, theaverage yearly reduction on car insurance for a Toyota Corolla is 28% or $911.
How to find economical auto insurance for a Toyota Corolla
Below you’ll find some of the recommended thrifty ideas that can help Tulsa drivers find lower-cost coverage.
- Drop full coverage on older vehicles
- Increase your deductibles
- Try to not file small claims
- Avoid at-fault accidents and claims
- Do not get tickets
- Check for cheaper rates once a year
The last tip in the list is extraordinarily necessary, as we noted in this write-up. Prices change frequently, so don’t be tentative to switch carriers if a better rate can be found. Brand loyalty is not necessarily bad, but it’s not a great idea if that loyalty results in overpaying major coinage every year. It only take a few minutes to shop around and find cheaper auto insurance for a Toyota Corolla in Tulsa.