Finding cheap insurance for a Toyota Camry hinges on a whole bunch of rating criteria such as your birth date, if you have recent claims, and driving violations and tickets. California drivers pay approximately $1,341 per year to insure their Camry, but that is an estimation based on a 50-year-old single male driver with full coverage and $250 deductibles.
But there is a high likelihood that you may not be 50 years old (or even male), possibly married instead of single, or maybe you’re a renter instead of a homeowner. Just a minor difference in the factors used in pricing a policy could result in a significant change in rates.
Auto insurance is not the same for everyone, so the only way to find the cheapest rates for your Toyota is to compare as many rates as you can.
The trim level of your Camry tends to have a direct impact on the yearly cost, so the cost to insure a Camry LE will be $230 cheaper than the insurance cost for the more well-appointed Camry Hybrid model, as demonstrated by the prices below.
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Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Rate quotes do not factor in specific location information which can alter auto insurance rates greatly.
Finding out which companies quote the best insurance rates for a Toyota Camry will involve a bit more effort than just quoting one company’s rates. Each company has a proprietary formula for determining rates, so to begin we’ll rank the insurance companies with the overall cheapest rates in Irvine, CA.
Keep in mind that California insurance rates are influenced by many factors which can significantly increase or decrease the cost of having a policy. Improving your credit rating, buying a different home, or getting a few speeding tickets can produce rate changes resulting in some rates now being cheaper than competitors.
Compare Cheap Insurance Quotes for Your Camry
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USAA quotes some of the cheapest car insurance rates in Irvine at around $1,121 annually. This is $530 less than the average rate paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide would also make the list of some of the more affordable Irvine, CA car insurance companies.
As the example above demonstrates, if you are a customer of CSAA and switched to USAA, you could see a yearly price reduction of around $65. California drivers with Nationwide may save as much as $92 a year, and 21st Century customers might lower prices by $217 a year.
It’s important to note that these policy rates are averages for all ages of drivers and types of vehicles and do not factor in an exact zip code location for a Toyota Camry. So the auto insurance company that is best for you may not even be in the list above. That point stresses why you need to quote rates from as many companies as possible using your own specific driver information and vehicle.
Get discounts on Irvine car insurance
Car insurance companies that provide policies for a Toyota Camry may also give you discounts that could lower prices by as much as 40% or more if you are eligible to receive them. A list of companies and a partial list of their discounts can be read below.
- State Farm may include discounts for multiple policy, anti-theft, good driver, Drive Safe & Save, multiple autos, and student away at school.
- GEICO may offer discounts for defensive driver, multi-vehicle, five-year accident-free, daytime running lights, anti-lock brakes, and membership and employees.
- Progressive offers discounts for online quote discount, online signing, good student, multi-vehicle, continuous coverage, and multi-policy.
- 21st Century policyholders can earn discounts including good student, air bags, driver training, homeowners, and theft prevention.
- American Family has savings for good student, defensive driver, early bird, air bags, accident-free, Steer into Savings, and bundled insurance.
- The Hartford may have discounts that include defensive driver, good student, air bag, driver training, bundle, vehicle fuel type, and anti-theft.
- AAA has discounts for anti-theft, pay-in-full, multi-policy, good student, and multi-car.
The example below illustrates the comparison of insurance costs with and without some available policy discounts. Data assumes a male driver, a clean driving record, no claims, California state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with multiple policy, anti-theft, claim-free, multiple vehicle, passive restraint, and marriage discounts applied. In this example, the average savings per year on insurance for a Toyota Camry is 28% or $816.
Full coverage versus liability-only in Irvine
Saving money on insurance is important to the majority of people, and one of the easiest ways to lower the cost of insurance for a Toyota Camry is to not buy comprehensive and collision coverage. The chart below shows the difference between insurance premiums when comparing full coverage to liability only. The costs are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single marital status, and no additional discounts are factored in.
On average, comprehensive and collision coverage on your policy costs $2,308 per year over having just liability coverage. Many people question if you should buy full coverage. There is no definitive guideline of when to exclude comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.
For example, let’s say your vehicle’s replacement value is $5,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $4,500 after the deductible is paid. If premiums are more than $450 a year for your policy with full coverage, then it could be time to drop full coverage.
Bad driving habits will cost you more
The ideal way to get good insurance rates for a Camry is to drive carefully and avoid tickets and accidents. The information below highlights how speeding tickets and at-fault fender-benders drive up auto insurance rates for different age groups of insureds. The premium estimates are based on a single female driver, full coverage, $500 deductibles, and no discounts are applied to the premium.
In the example above, the average cost of an auto insurance policy per year with no violations or accidents is $2,482. Factor in two speeding tickets and the average cost swells to $3,328, an increase of $846 each year. Next add one accident along with the two speeding tickets and the 12-month cost of insurance for a Toyota Camry increases to an average of $4,195. That’s an increase of $1,713, or $143 per month, just for being a less-than-perfect driver!