Save Money on Toyota Prius Insurance in Jacksonville

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Toyota Prius insurance policy
Toyota Prius insurance policy image courtesy of QuoteInspector.com

Insurance rates Toyota Prius in JacksonvilleIf saving the most money is your goal, then the best way to get the cheapest Toyota Prius insurance in Jacksonville is to regularly compare price quotes from providers who provide car insurance in Florida. Rate comparisons can be done by completing these steps.

  1. Get an understanding of how companies set rates and the modifications you can make to lower rates. Many things that result in higher prices such as traffic violations and a low credit rating can be controlled by paying attention to minor details.
  2. Request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like Progressive or Allstate, while independent agencies can quote prices for a wide range of insurance providers.
  3. Compare the new quotes to your existing rates to determine if you can save on Prius insurance. If you can save money and decide to switch, verify that coverage does not lapse between policies.

One key aspect when comparing rates is to try to compare identical limits and deductibles on each quote and to quote with as many auto insurance providers as possible. This guarantees a fair price comparison and the best rate selection.

Astonishing but true according to a recent study, a large majority of auto insurance policyholders kept their coverage with the same auto insurance company for well over three years, and 38% of drivers have never compared rates with other companies. Consumers in Jacksonville could cut their rates by about $1,100 a year just by shopping around, but they just feel it's too hard to shop around.

Auto insurance data for a Toyota Prius

The data table shown next outlines different rate quotes for Toyota Prius models. Having insight into how policy rates are calculated is important for drivers to make decisions on the best policy coverages.

Toyota Prius Insurance Rates in Jacksonville, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $254 $452 $400 $24 $120 $1,250 $104
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Information does not factor in specific location which can increase or decrease prices considerably.

Physical damage deductibles: Should you raise them?

One of the most common auto insurance questions is which comprehensive and collision deductibles to buy. The tables below show the costs and benefits of buying low and high coverage deductibles. The first rate comparisons uses a $250 comprehensive and collision deductible and the second price chart uses a $500 deductible.

Toyota Prius insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $364 $544 $354 $20 $106 $1,413 $118
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Toyota Prius insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $296 $438 $354 $20 $106 $1,214 $101
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Information does not factor in Jacksonville location which can influence premium rates greatly.

We can derive from the above data that using a $250 deductible costs roughly $17 more each month or $204 every year than quoting the higher $500 deductible. Since you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you tend to have more than 15 months between claims, you would probably save some money by selecting a higher deductible.

The example below highlights how deductible selection and can affect Toyota Prius annual premium costs for different age groups. The costs are based on a single female driver, full coverage, and no additional discounts are factored in.

Impact of careless driving on auto insurance rates

The example below illustrates how violations and fender-benders can raise Toyota Prius insurance prices for different age groups. The premium estimates are based on a married male driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.

Auto insurance rates based on gender

The example below shows the difference between Toyota Prius auto insurance costs for male and female drivers. The information is based on no claims or driving citations, comp and collision included, $250 deductibles, marital status is single, and no discounts are taken into consideration.

Why Informed Consumers Pay Less for Toyota Prius Insurance

Many different elements are taken into consideration when you quote your car insurance policy. A few of the factors are predictable such as your driving record, although some other factors are more obscure such as your marital status or how financially stable you are.

Shown below are some of the major factors used by companies to determine your rates.

  • Marriage is a factor - Being married may earn you lower rates compared to being single. It means you're more financially stable and insurance companies reward insureds because married drivers tend to file fewer claims.
  • When should you not file a insurance claims? - If you are the type of insured that files lots of claims don't be surprised to see increased rates or even have your policy non-renewed. Companies in Florida generally give better rates to policyholders who do not rely on their insurance for small claims. Insurance coverage is intended for more catastrophic claims.
  • Prevent theft and reduce premiums - Owning a car with a theft deterrent system can help lower your rates. Advanced theft deterrents like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all help stop your car from being stolen.
  • High deductibles equal low rates - Comp and collision deductibles tell how much you are required to spend out-of-pocket before your insurance pays a claim. Physical damage protection, also called 'full coverage', insures against damage to your car. Some examples of claims that would be covered are a windshield broken by a bird, collision with a deer, and having a roll-over accident. The more you pay before a claim is paid (deductible), the less money you will pay for insurance.
  • Does your employer cost you more? - Did you know your job can affect your rates? Occupations like judges, social workers, and stock brokers tend to pay the highest average rates in part from high stress levels and lots of time spent at work. On the flip side, professions such as farmers, students and homemakers get better rates.
  • Save money by having multiple policies - Some insurers will award discounts to clients who consolidate policies with them. It's known as a multi-policy discount. Discounts can amount to ten percent or more. If you currently are using one company, you may still want to compare Toyota Prius rates in Jacksonville to help guarantee you have the best rates. You may still find a better deal by buying insurance from a different company.
  • Insurance loss probability for a Toyota Prius - Insurance companies use past loss statistics for each vehicle when they file their rates in each state. Vehicles that tend to have higher claim frequency or loss amount will have higher rates.

    The table shown below demonstrates the insurance loss data used by companies for Toyota Prius vehicles. For each policy coverage type, the claim amount for all vehicles, as an average, is set at 100. Values below 100 mean the vehicle has better than average losses, while values over 100 indicate a higher chance of having a claim or statistically larger losses.

    Toyota Prius Insurance Loss Statistics
    Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Toyota Prius C Hybrid 113 100 87 120 121 113
    Toyota Prius Hybrid 101 97 98 103 118 103
    Toyota Prius Plug-in Hybrid 98 89 87 106 114 93
    Toyota Prius V Hybrid 94 86 88 88 94 97
    BETTER
    AVERAGE
    WORSE

    Statistics from IIHS.org for 2013-2015 Model Years

Find cheap rates by being thorough

Consumers who switch companies do it for any number of reasons including policy non-renewal, extreme rates for teen drivers, not issuing a premium refund and an unsatisfactory settlement offer. It doesn't matter why you want to switch choosing a new company is pretty easy and you might even save some money in the process.

The cheapest Toyota Prius insurance in Jacksonville is possible both online and also from your neighborhood Jacksonville agents, and you need to price shop both to get a complete price analysis. Some insurance providers may not provide rate quotes online and usually these regional insurance providers only sell coverage through independent agents.

When you buy Jacksonville car insurance online, do not sacrifice coverage to reduce premiums. There have been many cases where someone dropped uninsured motorist or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy enough coverage at an affordable rate while not skimping on critical coverages.

Additional detailed information can be found in these articles: