Cheapest Insurance for a Toyota Tacoma in Charlotte

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Insurance rates Toyota Tacoma in CharlotteAre you at wits end from scraping nickels together to buy car insurance? You are in the same boat as millions of other drivers.

A recent study showed that the vast majority of consumers have stayed with the same insurance company for at least four years, and virtually 40% of consumers have never compared rates from other carriers. North Carolina drivers could save themselves up to $90 a year just by comparing rates, but most tend to underestimate how much money they would save if they switched.

Steps to buying cheaper Toyota Tacoma insurance in Charlotte

If your goal is the lowest price, then the best way to find cheaper prices for Toyota Tacoma insurance is to make a habit of comparing prices annually from different companies who provide car insurance in Charlotte. Rates can be compared by following these guidelines.

  1. Try to comprehend policy coverages and the factors you can control to drop your rates. Many policy risk factors that result in higher prices like tickets, at-fault accidents, and a negative credit history can be controlled by paying attention to minor details.
  2. Compare rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from a single company like GEICO and Allstate, while independent agencies can give you price quotes for many different companies. Find a Charlotte insurance agent
  3. Compare the quotes to your existing policy and determine if there is any savings. If you can save money and switch companies, make sure there is no lapse in coverage.
  4. Provide notification to your current agent or company to cancel your current policy. Submit the application along with any required down payment to the new company. As soon as you receive it, keep the new certificate of insurance along with the vehicle's registration papers.

The key thing to know about shopping around is to compare the same deductibles and limits on each quote and and to get quotes from as many different companies as possible. This guarantees an apples-to-apples comparison and and a good selection of different prices.

You have so many auto insurance companies to purchase coverage from, and even though it's nice to have a choice, it can be more difficult to find the lowest rates for Toyota Tacoma insurance in Charlotte.

Consumers need to get comparison quotes quite often because prices are constantly changing. Just because you found the best deal on Toyota Tacoma insurance in Charlotte two years ago there may be better deals available now. You can find a lot of wrong information about Tacoma insurance on the web, but you can learn some great ways to quit paying high car insurance rates in Charlotte.

Locating the best rates in Charlotte is actually not that difficult if you follow our advice. If you are insured now or need new coverage, you can use these tips to buy cheaper insurance without sacrificing coverage. Consumers just have to know the best way to compare rate quotes online from multiple companies.

The quickest way to get rate comparisons for Toyota Tacoma insurance in Charlotte is to understand most insurance companies participate in online systems to give free rates quotes. To begin a comparison, all you need to do is provide the companies a bit of rating information like marital status, if you have an active license, if it has an alarm system, and your occupation. That information is automatically sent to many different companies and you receive quotes quickly.

To start a rate quote now, click here and see if a lower rate is available in Charlotte.

The providers in the list below offer price quotes in North Carolina. To get cheap auto insurance in Charlotte, we recommend you compare several of them to get the best price comparison.

Toyota Tacoma insurance rates and statistics

The premium table displayed below highlights estimates of insurance coverage prices for Toyota Tacoma models. Having insight into how auto insurance policy rates are figured can help customers make informed decisions when shopping around for a new policy.

Toyota Tacoma Insurance Rates in Charlotte, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tacoma 2WD $118 $256 $282 $16 $84 $756 $63
Tacoma 4WD $134 $210 $282 $16 $84 $726 $61
Tacoma Double Cab 4WD $134 $256 $282 $16 $84 $772 $64
Tacoma X-Runner 2WD $134 $302 $282 $16 $84 $818 $68
Tacoma Double Cab 4WD $152 $256 $282 $16 $84 $790 $66
Tacoma Double Cab TRD Off-Road Package 4WD $152 $256 $282 $16 $84 $790 $66
Tacoma Double Cab TRD Sport Package 4WD $152 $256 $282 $16 $84 $790 $66
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Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Rates do not factor in the specific area where the vehicle is garaged which can revise price quotes considerably.

Raise deductibles and save

A question often asked by Charlotte drivers is where to set your physical damage deductibles. The data tables below summarize the costs and benefits when you select higher and lower physical damage deductibles. The first data table uses a $250 physical damage deductible and the second data table uses a $1,000 deductible.

Toyota Tacoma insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tacoma 2WD $168 $324 $250 $14 $74 $855 $71
Tacoma 4WD $192 $266 $250 $14 $74 $821 $68
Tacoma Double Cab 4WD $192 $324 $250 $14 $74 $879 $73
Tacoma X-Runner 2WD $192 $382 $250 $14 $74 $937 $78
Tacoma Double Cab 4WD $218 $324 $250 $14 $74 $905 $75
Tacoma Double Cab TRD Off-Road Package 4WD $218 $324 $250 $14 $74 $905 $75
Tacoma Double Cab TRD Sport Package 4WD $218 $324 $250 $14 $74 $905 $75
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Toyota Tacoma insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tacoma 2WD $104 $204 $250 $14 $74 $646 $54
Tacoma 4WD $118 $168 $250 $14 $74 $624 $52
Tacoma Double Cab 4WD $118 $204 $250 $14 $74 $660 $55
Tacoma X-Runner 2WD $118 $240 $250 $14 $74 $696 $58
Tacoma Double Cab 4WD $134 $204 $250 $14 $74 $676 $56
Tacoma Double Cab TRD Off-Road Package 4WD $134 $204 $250 $14 $74 $676 $56
Tacoma Double Cab TRD Sport Package 4WD $134 $204 $250 $14 $74 $676 $56
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Rates do not factor in specific location which can revise rates considerably.

Based on the above data, using a $250 deductible costs roughly $19 more each month or $228 annually than quoting the higher $1,000 deductible. Because you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go more than 39 months between claim filings, you would probably come out ahead by going with a higher deductible.

Calculate deductible break even point

Average monthly premium for $250 deductibles: $74
Average monthly premium for $1,000 deductibles (subtract): - $55
Monthly savings from raising deductible: $19
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 39 months

One important caveat is that a higher deductible results in having to pay to pay more out-of-pocket when you have to file a claim. You need to make sure you have enough savings in the event you have to pay more for the deductible.

The illustration below shows how different deductible levels and can increase or decrease Toyota Tacoma insurance costs for each different age group. The data assumes a single male driver, comp and collision included, and no discounts are applied to the premium.

Price comparison of only insuring for liability

The chart below shows the comparison of Toyota Tacoma auto insurance costs when comparing full coverage to liability only. The prices are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are applied.

Should you buy full coverage or liability only?

There is no definitive rule for eliminating physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then you may need to consider dropping full coverage.

For example, let's assume your Toyota Tacoma claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $2,000 after paying the physical damage deductible. If it's costing in excess of $200 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.

There are some conditions where dropping full coverage is not a good plan. If you haven't paid off your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you can't afford to buy a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

Three reasons car insurance is important

Even though it's not necessarily cheap to insure a Toyota in Charlotte, buying car insurance may be required for several reasons.

  • Almost all states have minimum liability requirements which means you are required to carry specific minimum amounts of liability coverage if you drive a vehicle. 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.
  • If you have a lien on your Toyota Tacoma, almost every bank will force you to have insurance to guarantee their interest in the vehicle. If you default on your policy, the lender may insure your Toyota at an extremely high rate and force you to pay for the expensive policy.
  • Insurance safeguards not only your car but also your financial assets. It will also reimburse you for medical bills that are the result of an accident. Liability insurance will also pay for a defense attorney if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to repair the damage minus the deductible amount.

The benefits of having car insurance are without a doubt worth the cost, especially when you need to use it. According to a 2015 survey, the average American driver is currently overpaying as much as $700 annually so smart consumers compare quotes every year to make sure the price is not too high.

Lower Your Charlotte Insurance Rates

Multiple criteria are considered when you quote your car insurance policy. Some are obvious like a motor vehicle report, but some are more transparent like your continuous coverage and annual miles driven.

Keep prices low by being claim-free - Companies in North Carolina provide the lowest premiums to insureds who only file infrequent claims. If you file a lot of claims you can look forward to higher premiums or even policy non-renewal. Your car insurance is designed for major claims that would cause financial hardship.

The type of car you drive affects your costs - The performance of the car, truck or SUV you are trying to find cheaper insurance for makes a big difference in your rates. Small economy passenger cars generally have the cheapest insurance rates, but the final cost of insurance is determined by many other factors.

The following data is based on a married female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. It illustrates Toyota Tacoma insurance rates compared to other makes and models that have different performance risks.

Good drivers pay better premiums - Having just one ticket can boost insurance rates to the point where it's not affordable. Drivers with clean records tend to pay less for car insurance than people who have multiple driving citations. Drivers who have received severe violations such as DUI, reckless driving or excessive speeding may find that they have to to file a proof of financial responsibility form (SR-22) with their state in order to keep their license.

The diagram below illustrates how speeding tickets and accidents can drive up Toyota Tacoma auto insurance rates for each age group. The costs are based on a single male driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.

Battle of the sexes - Statistics demonstrate that females take fewer risks when driving. However, don't assume that males are worse at driving than females. Men and women get in auto accidents at a similar rate, but guys have costlier accidents. Not only are claims higher, but men get ticketed for serious violations like DWI (DUI) or reckless driving.

The illustration below illustrates the difference between Toyota Tacoma insurance rates for male and female drivers. The costs are based on a clean driving record, no at-fault accidents, full physical damage coverage, $250 deductibles, single marital status, and no other discounts are factored in.

Better rates on vehicles with better crash test results - Cars with five star safety ratings get lower rates. Vehicles built for safety reduce occupant injuries and lower rates of occupant injuries translates into savings for insurance companies and thus lower rates. If your Toyota scored at minimum four stars on Safercar.gov or an "acceptable" rating on iihs.org it may cost less to insure.

Liability protection limits on your policy - Your policy's liability coverage will protect you when you are found liable for damages from an accident. It provides legal defense coverage up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so buy as much as you can afford.

Discounts for alarms and GPS tracking - Purchasing a vehicle with a theft deterrent system can help bring down rates. Systems that thwart thieves such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping your car from being stolen.

Toyota Tacoma historical loss data - Insurance companies analyze claim trends for every vehicle to determine a price that will be profitable for them. Models that historically have higher claim frequency or loss amount will have higher premium rates. The table shown below demonstrates the compiled insurance loss statistics for Toyota Tacoma vehicles.

For each coverage category, the claim probability for all vehicles, as a total average, is a value of 100. Percentage values below 100 suggest a positive loss record, while numbers that are greater than 100 point to more claims or an increased chance of larger losses than average.

Toyota Tacoma Insurance Claim Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Toyota Tacoma Double Cab 2WD 79 109 70 77 76 92
Toyota Tacoma Double Cab 4WD 82 104 84 64 56 77
Toyota Tacoma Double Cab LWB 2WD 87 108 74 96
Toyota Tacoma Double Cab LWB 4WD 84 104 88 68 57 79
Toyota Tacoma Xtra Cab 2WD 80 105 60 86 75 96
Toyota Tacoma Xtra Cab 4WD 71 90 77 48 51 65
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

When in doubt talk to an agent

When selecting coverage for your personal vehicles, there isn't really a "perfect" insurance plan. Coverage needs to be tailored to your specific needs so your insurance should reflect thatDrive safe and save These are some specific questions may help you determine whether you may require specific advice.

  • Is pleasure use cheaper than using my Toyota Tacoma to commute?
  • What if I total my Toyota Tacoma and owe more than it's worth?
  • Am I covered if I drive in a foreign country?
  • Are there any extra discounts I can get?
  • Which companies will insure me after a DUI?
  • Are my custom wheels covered?
  • Can I afford low physical damage deductibles?
  • Does liability extend to a camper or trailer?

If you're not sure about those questions, you might consider talking to an agent. To find an agent in your area, simply complete this short form or click here for a list of insurance companies in your area. It is quick, free and you can get the answers you need.

In the end, you can save money

Affordable Toyota Tacoma insurance in Charlotte is available on the web and from local agencies, so you need to shop Charlotte auto insurance with both so you have a total pricing picture. Some insurance companies may not provide the ability to get a quote online and these small, regional companies only sell through independent agents.

As you shop your coverage around, it's not a good idea to skimp on coverage in order to save money. There are too many instances where an accident victim reduced comprehensive coverage or liability limits and learned later that the savings was not a smart move. The goal is to buy the best coverage you can find at the best price while still protecting your assets.

How to find better rates for Toyota Tacoma insurance in Charlotte

The most effective way to get cheaper Toyota Tacoma insurance is to compare prices once a year from insurance carriers in Charlotte.

  1. Read and learn about the different coverages in a policy and the things you can control to prevent expensive coverage. Many rating criteria that increase rates like getting speeding tickets and an unfavorable credit rating can be controlled by making minor driving habit or lifestyle changes.
  2. Compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from a single company like Progressive or State Farm, while independent agencies can provide price quotes for a wide range of companies. View insurance agents
  3. Compare the new rates to your current policy to see if you can save by switching companies. If you find a lower rate and make a switch, verify that coverage does not lapse between policies.

One key aspect when comparing rates is to make sure you're comparing identical coverage information on every quote request and and to get rate quotes from as many different insurance providers as possible. This provides a fair rate comparison and plenty of rates choose from.

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