Toyota Prius Insurance Rate Quotes in Charlotte

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Discount Toyota Prius insuranceWe don't have to tell you that car insurance companies don't want you comparing rates. Insureds who shop around for better prices will most likely switch companies because there is a high probability of finding coverage at a more affordable price. A recent survey revealed that people who compared price quotes annually saved on average $3,500 over four years as compared to drivers who never shopped around for lower prices.

If finding the cheapest price for Toyota Prius insurance in Charlotte is why you're reading this, then having a good understanding how to quote and compare coverages can make the process less intimidating.

It takes a little time, but the best way to quote cheaper Toyota Prius insurance is to compare quotes annually from insurers who sell auto insurance in Charlotte.

  • Step 1: Spend some time learning about how car insurance works and the things you can control to prevent expensive coverage. Many rating factors that cause rate increases such as traffic violations and a less-than-favorable credit score can be eliminated by making minor changes to your lifestyle. Read the full article for more details to get cheaper coverage and find discounts that you may qualify for.
  • Step 2: Quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO and State Farm, while independent agents can quote prices from multiple companies.
  • Step 3: Compare the new rate quotes to your current policy to determine if switching companies saves money. If you can save money, make sure there is no lapse between the expiration of your current policy and the new one.

An important part of this process is to make sure you enter the same physical damage deductibles and liability limits on each quote request and and to compare every insurance company. This provides a fair price comparison and maximum price selection.

To get affordable Toyota Prius insurance quotes, there a variety of ways of comparing rate quotes from many insurance companies in North Carolina. The fastest way to do a complete rate comparison is to use the internet to compare rates. Keep in mind that comparing more prices increases your odds of finding lower pricing. Some insurance companies are not set up to provide Charlotte Prius insurance quotes online, so you need to compare rates from them, too.

The companies shown below are ready to provide comparison quotes in North Carolina. To find the best cheap car insurance in Charlotte, it's highly recommended you click on several of them in order to find the lowest rates.

Coverage analysis

The coverage table shown below outlines detailed analysis of insurance prices for Toyota Prius models. Having a better understanding of how insurance prices are figured can aid in making informed decisions when shopping around for a new policy.

Toyota Prius Insurance Rates in Charlotte, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $176 $262 $212 $12 $64 $726 $61
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Table data does not factor in garaging location in Charlotte which can modify coverage prices greatly.

Deductible comparison

One of the more difficult decisions when buying auto insurance is which deductibles should you choose. The premium rates below can help you visualize the rate differences between high and low coverage deductibles. The first price estimate table uses a $250 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Toyota Prius insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $218 $324 $212 $12 $64 $855 $71
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Toyota Prius insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $176 $262 $212 $12 $64 $726 $61
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Price estimates do not factor in the specific area where the vehicle is garaged which can impact premiums significantly.

Using the data above, we can ascertain that using a $250 deductible will cost in the ballpark of $10 more each month or $120 each year averaged for all Prius models than requesting the higher $500 deductible. Because you would be required to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you normally go more than 25 months between claim filings, you would more than likely save some money going with the higher deductible. The numbers below show the way you can decide this on your own policy.

Average monthly premium for $250 deductibles: $71
Average monthly premium for $500 deductibles (subtract): - $61
Monthly savings from raising deductible: $10
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $10
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

One thing to note is that a higher deductible level results in a higher out-of-pocket expense when you file a claim. That will necessitate access to more funds in the event you have to pay more to get your vehicle repaired.

The diagram below illustrates how choosing a deductible and can impact Toyota Prius insurance costs for different age groups. The premium estimates are based on a single male driver, comp and collision included, and no policy discounts are applied.

Toyota Prius liability rates compared to full coverage

The information below shows the difference between Toyota Prius insurance costs with full physical damage coverage and with liability coverage only. The price estimates are based on no violations or accidents, $1,000 deductibles, single marital status, and no discounts are applied.

When to drop full coverage

There is no exact rule to delete comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

For example, let's pretend your Toyota Prius replacement cost is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $4,000 after you pay the deductible. If premiums are more than $400 annually to have full coverage, the it may be a good time to stop paying for full coverage.

There are some conditions where buying only liability insurance is not financially feasible. If you still owe money on your vehicle, you have to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not drop full coverage.

Special considerations

Always remember that when buying coverage, there really is no one size fits all plan. You are unique so your insurance needs to address that.Drive safe and save For instance, these questions might point out whether or not you would benefit from professional advice.

  • Can I still get insurance after a DUI?
  • What does PIP insurance cover?
  • If my Toyota Prius is totaled, can I afford another vehicle?
  • When does my teenage driver need to be added to my policy?
  • Do I need special coverage while pulling a rented trailer?
  • Is there a penalty for late payment?
  • Do I have coverage if I rent a car in Mexico?
  • What is the difference between personal and commercial auto insurance policies?
  • Should I have combined single limit or split liability limits?

If you're not sure about those questions but a few of them apply, then you may want to think about talking to an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies.

When should I have guidance from an agent?

Certain consumers would prefer to talk to a local agent and that can be a great decision A nice benefit of comparing insurance prices online is you can get cheap auto insurance quotes and still buy from a local agent. And providing support for local agents is especially important in Charlotte.

Charlotte insurance agentsUpon completion of this quick form, your insurance coverage information is immediately sent to participating agents in Charlotte who will give you bids for your auto insurance coverage. It makes it easy because there is no need to search for an agent since price quotes are sent directly to your email. You can most likely find cheaper rates without a big time investment. If for some reason you want to quote rates from a specific auto insurance provider, just jump over to their website and complete a quote there.

Do you need an independent or exclusive auto insurance agent?

If you prefer to buy auto insurance from a good insurance agency, there are a couple of different types of agents and how they function. Auto insurance policy providers can either be independent or exclusive depending on the company they work for.

Independent Auto Insurance Agencies or Brokers

Independent insurance agents are not employed by any specific company and that enables them to quote your coverage through many companies and help determine which has the cheapest rates. If they find a lower price, the agent simply finds a different carrier and you won't have to switch agencies. When comparing auto insurance rates, you will definitely want to include rate quotes from a couple of independent agencies to ensure the widest selection of prices. Most also have access to small mutual carriers which may have better rates.

Listed below are independent agencies in Charlotte that may be able to give you free price quotes.

More Charlotte agents

Exclusive Insurance Agencies

Exclusive insurance agents can only provide pricing for a single company and some examples include American Family, State Farm, and AAA. They generally cannot place coverage with different providers so always compare other rates. These agents are well trained on what they offer and that allows them to sell at a higher price point. Drivers often choose to use an exclusive agent partially due to the prominent brand name and the convenience of having all coverages with one company.

The following are exclusive insurance agencies in Charlotte that are able to give comparison quotes.

More Charlotte agents

Selecting an insurance agency should depend on more than just a cheap price quote. Any agent in Charlotte should be willing to answer these questions.

  • Do they get extra compensation for selling add-on coverages?
  • If you raise deductibles, how much can you save?
  • Does the quote include credit and driving reports?
  • If your car is in the repair shop, do you have coverage for a rental car?
  • Do they have any clout with companies to ensure a fair claim settlement?
  • Can you contact them at any time?
  • Are they involved in claim handling?
  • Do the agents have professional certifications like CPCU or CIC?