Affordable Quotes for Toyota 4Runner Insurance in Lexington

It takes a few minutes, but the best way to get more affordable auto insurance rates in Lexington is to start comparing prices yearly from providers who can sell car insurance in Kentucky.

Step 1: Spend a few minutes and learn about the different coverages in a policy and the measures you can take to keep rates in check. Many factors that result in higher rates such as tickets, at-fault accidents, and an imperfect credit history can be amended by making minor changes in your lifestyle. Read the full article for additional tips to get cheaper coverage and get additional discounts that may have been overlooked.

Step 2: Request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like GEICO and Allstate, while agents who are independent can provide price quotes from multiple companies. View insurance agents

Step 3: Compare the new rate quotes to the price on your current policy to determine if switching companies saves money. If you can save some money, ensure coverage does not lapse between policies.

Step 4: Notify your current company of your decision to cancel your current coverage and submit the application along with any required down payment for your new coverage. As soon as you receive it, place your new proof of insurance certificate along with the vehicle’s registration papers.

A good tip to remember is to use similar deductibles and liability limits on each price quote and and to analyze as many car insurance companies as possible. Doing this ensures a fair price comparison and a better comparison of the market.

It’s a fact that car insurance companies don’t want policyholders to shop around. Consumers who shop rates annually will probably move their business because there is a good chance of finding a policy with better rates. A survey found that consumers who compared rates once a year saved about $70 a month compared to those who never compared rates.

If finding the best rates on Toyota 4Runner insurance in Lexington is your ultimate goal, then having a grasp of how to quote prices and compare cheaper coverage can make it simple to find affordable coverage.

Toyota 4Runner Insurance Price Factors

Many factors are part of the equation when pricing auto insurance. Some factors are common sense such as your driving history, but other factors are not as apparent like where you live or how financially stable you are.

The items below are some of the items companies use to determine your premiums.

• Where you live factors in – Living in areas with lower population has it’s advantages if you are looking for the lowest rates. Fewer drivers translates into fewer accidents in addition to fewer liability claims. Drivers in populated Kentucky areas have to deal with much more traffic and a longer drive to work. Longer commute distances statistically corresponds to a higher accident and claim rate.

• Driver age impacts prices – Inexperience drivers are known to be inattentive and easily distracted with other occupants in the car and because of this, their car insurance rates are much higher. Adding a youthful driver to your policy can be quite pricey. Older people are shown to be more cautious, are lower risk to insure, and receive fewer citations.

  The next chart assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.

• Optional features that cut car insurance rates – Driving a car with advanced anti-theft systems can save you some money. Advanced theft deterrents such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help stop vehicle theft.
• How much liability do you need? – The liability coverage on your policy provides coverage when you are responsible for physical damage or personal injury to other. It provides you with a defense in court which can cost a lot. Liability is cheap as compared to coverage for physical damage, so insureds should have plenty of protection for their assets.
• Frequent insurance claims will increase rates – Car insurance companies in Kentucky give most affordable rates to drivers who are not frequent claim filers. If you’re an insured who likes to file claims you can definitely plan on higher rates. Insurance coverage is designed for claims that pose a financial burden.
• Incidental coverages are wasting money – There are a ton of extra add-on coverages that you can get tricked into buying if you aren’t diligent. Insurance for things like personal injury protection, high-cost glass coverage, and extra life insurance coverage are examples of these. These may sound like a good investment when you first buy your policy, but if you don’t need them think about removing them and cutting costs.

• Insurance loss data for Toyota 4Runner vehicles – Car insurance companies use past insurance losses to help determine rates. Models that historically have increased claim numbers or amounts will cost more for specific coverages. The table below shows the collected loss data for Toyota 4Runner vehicles.

  For each policy coverage, the statistical loss for all vehicles as a whole is equal to 100. Numbers under 100 indicate better than average losses, while percentage numbers above 100 indicate more frequent claims or an increased chance of a larger loss.

  
  

  Toyota 4Runner Insurance Loss Statistics

  Vehicle Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Toyota 4Runner 4dr 2WD	75	92	83	76	66	75
  Toyota 4Runner 4dr 4WD	78	88	110	67	59	74

  BETTER

  AVERAGE

  WORSE

  Statistics from IIHS.org for 2013-2015 Model Years

Detailed insurance information

The coverage table displayed next highlights a range of insurance premium costs for Toyota 4Runner models. Having a better idea how rate quotes are calculated can assist in making informed purchases.

Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Premium costs do not factor in the specific area where the vehicle is garaged which can increase or decrease auto insurance rates substantially.

Physical damage deductibles

One frequently asked question is where should you set your physical damage deductibles. The data tables below can help illustrate the costs and benefits between low and high deductibles. The first data set uses a $100 deductible for comp and collision and the second set of prices uses a $500 deductible.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Price estimates do not factor in specific location information which can lower or raise insurance rates greatly.

Using the premium rates above, we can conclude that using a $100 deductible will cost in the ballpark of $24 more each month or $288 each year than requesting the higher $500 deductible. Because you would be required to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you normally go at a minimum 17 months between claims, you would probably save some money by going with a higher deductible.

Safe drivers Lexington pay cheaper rates

The diagram below illustrates how violations and at-fault accidents raise Toyota 4Runner car insurance costs for different ages of insureds. The premium estimates are based on a married female driver, full physical damage coverage, $500 deductibles, and no other discounts are factored in.

Rate difference between full and liability-only coverage

The chart below shows the difference between Toyota 4Runner insurance costs with full physical damage coverage compared to only buying liability only. The rate quotes are based on no claims or driving citations, $1,000 deductibles, single status, and no policy discounts are applied.

Should you be buying full coverage?

There is no clear-cut rule of when to drop comp and collision coverage, but there is a guideline you can use. If the annual cost of your full coverage insurance is 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let’s say your Toyota 4Runner settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after paying the physical damage deductible. If you are paying more than $500 annually for full coverage, then you might consider buying liability only.

There are some cases where dropping full coverage is not recommended. If you still have a lienholder on your title, you are required to maintain full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should keep full coverage.

Cheap Lexington auto insurance rates with discounts

Some providers don’t necessarily list the entire discount list in a way that’s easy to find, so the list below details both the well known and the harder-to-find discounts that may be available.

• Safety Restraint Discount – Drivers who require all occupants to buckle up before driving can save a little on medical payment and PIP coverage.
• Switch and Save Discount – Some companies reward drivers for switching policies before your current 4Runner insurance policy expires. This can save 10% or more.
• Bundle and Save – When you combine your homeowners and auto insurance with the same insurance company you may earn up to 20% off your total 4Runner insurance premium.
• Discount for New Cars – Putting coverage on a new 4Runner can save up to 30% due to better safety requirements for newer vehicles.
• Theft Prevention System – Cars and trucks equipped with tracking devices and advanced anti-theft systems prevent vehicle theft so companies will give you a small discount.
• Driver’s Education for Students – Teen drivers should enroll and complete driver’s education in school or through a local driver safety program.
• Senior Citizens – If you’re over the age of 55, you can possibly qualify for a slight reduction on a Lexington auto insurance quote.
• Waiver for an Accident – Not necessarily a discount, but a handful of insurance companies will turn a blind eye to one accident before hitting you with a surcharge if you are claim-free before the accident.

As a disclaimer on discounts, some of the credits will not apply to all coverage premiums. A few only apply to individual premiums such as liability and collision coverage. So when the math indicates it’s possible to get free car insurance, you won’t be that lucky.

The diagram below compares Toyota 4Runner insurance prices with and without discounts applied to the premium. The prices are based on a male driver, no claims, a clean driving record, Kentucky state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, multi-policy, multi-car, claim-free, and safe-driver discounts applied.

To see a list of auto insurance companies who offer free Toyota 4Runner insurance quotes in Kentucky, click here to view.

Do the work, save more money

When buying insurance coverage, don’t be tempted to reduce coverage to reduce premium. There have been many cases where an accident victim reduced collision coverage only to discover later that the savings was not a smart move. Your goal should be to purchase a proper amount of coverage for the lowest cost, but do not sacrifice coverage to save money.

Cost effective Toyota 4Runner insurance is available both online and with local Lexington insurance agents, and you should be comparing both in order to have the best price selection to choose from. A few companies may not provide online quoting and these smaller companies provide coverage only through independent agents.

More information

• Prom Night Tips for Teen Drivers (State Farm)
• What Insurance is Cheapest for High Mileage Drivers in Lexington? (FAQ)
• How Much are Lexington Auto Insurance Rates for a Hyundai Elantra? (FAQ)
• What Auto Insurance is Cheapest for Used Cars in Lexington? (FAQ)
• How do I File a Claim? (Insurance Information Institute)
• Auto Insurance Basics (Insurance Information Institute)
• Distracted Driving (Insurance Information Institute)
• State Car Insurance Guides (GEICO)