Buying the best cheap insurance for a Toyota Corolla is usually pretty straightforward, but it depends on a lot of rating factors such as how safe your vehicle is, what you do for a living, and citations or violations on your driving record. Nebraska drivers will pay around $1,003 each year for Corolla insurance, but that figure is a projection based on a 40-year-old single male driver with full physical damage coverage and $250 deductibles.
There is a good probability you are not 40 years old and maybe not even male, married instead of single, or maybe you just want liability only instead of full coverage. Not every driver requires the same auto insurance coverages, so the only real way to find cheap car insurance rates for your Toyota is to compare as many rates as possible.
The trim level of your Toyota tends to have a direct impact on the coverage cost, so the price you pay to insure a Corolla LE trim level will be $30 less expensive the cost to insure the fancier Corolla XRS version, as shown by the rates below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corolla LE | $226 | $528 | $362 | $22 | $108 | $1,246 | $104 |
| Corolla S | $226 | $528 | $362 | $22 | $108 | $1,246 | $104 |
| Corolla XLE | $226 | $528 | $362 | $22 | $108 | $1,246 | $104 |
| Corolla XRS | $256 | $528 | $362 | $22 | $108 | $1,276 | $106 |
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Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in zip code location which can affect rates substantially.
Deciding which insurers offer the best auto insurance rates for a Toyota Corolla calls for more time in order to find the most economical policy. Each insurer uses a different method to set their prices, so to begin we’ll rank the auto insurance companies with the overall cheapest rates in Omaha, NE.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $812 |
| 2 | The Hartford | $839 |
| 3 | Allied | $921 |
| 4 | Auto-Owners | $932 |
| 5 | Farmers Mutual of Nebraska | $989 |
| 6 | Nationwide | $1,007 |
| 7 | Farm Bureau Mutual | $1,010 |
| 8 | State Farm | $1,043 |
| 9 | General Casualty | $1,081 |
| 10 | American National | $1,087 |
| 11 | USAA | $1,162 |
| 12 | American Family | $1,284 |
| 13 | California Casualty | $1,296 |
| 14 | EMC | $1,300 |
| 15 | MetLife | $1,332 |
| 16 | Iowa Mutual | $1,347 |
| 17 | GEICO | $1,348 |
| 18 | Progressive | $1,460 |
| 19 | Farmers | $1,634 |
| 20 | North Star | $1,642 |
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Safeco has some of the best car insurance rates in Omaha at around $812 a year. The Hartford, Allied, Auto-Owners, and Farmers Mutual of Nebraska are also some of the most economical Omaha, NE car insurance companies.
In the rate table above, if you have coverage with Auto-Owners and switched to The Hartford, you could earn savings of upwards of $93. Nebraska drivers with Farmers Mutual of Nebraska might save as much as $150 a year, and Nationwide customers might reduce prices by as much as $168 a year.
Be aware that those prices are averaged for all drivers and vehicles in Nebraska and do not factor in a vehicle location for a Toyota Corolla. So the insurer that is best suited for you may not even be in the top 24 companies shown above. That underscores the importance of why you need to quote rates from many companies using your own specific driver and vehicle information.
How accidents and violations affect rates
In a perfect world, the best way to maintain the cheapest auto insurance premiums in Nebraska for a Corolla is to be a careful driver and avoid accidents and violations. The example below shows how traffic citations and at-fault claims can affect auto insurance rates for different age categories. The rate quotes are based on a single male driver, full coverage, $250 deductibles, and no discounts are factored in.
The data above shows the average cost of an auto insurance policy in Omaha per year with no accidents or violations is $1,998. Receive two speeding tickets and the average cost increases to $2,651, an increase of $653 each year. Now include two accidents along with the two speeding tickets and the annual cost of auto insurance for a Toyota Corolla goes up to an average of $5,004. That’s an increase of $3,006, or $250 per month, just for not driving responsibly!
Should you buy full coverage?
Saving on auto insurance is the goal of most drivers, and one of the quickest ways to save on the cost of insurance for a Toyota Corolla is to not buy comprehensive and collision coverage. The chart below illustrates the comparison of auto insurance rates with full physical damage coverage and with liability coverage only. The data is based on no accidents or driving violations, $1,000 deductibles, single status, and no discounts are applied.
If we average the cost for ages 20 through 70, full coverage costs an additional $1,573 per year over liability only. That is a large expense and it proposes the question when is it a good idea to stop buying full coverage. There is no written rule to exclude full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is about 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.
There are some situations where eliminating full coverage is not financially feasible. If you still owe money on your vehicle, you must maintain physical damage coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage.
How to get discounts on Omaha auto insurance
Insurers that provide coverage for a Toyota Corolla may provide rate discounts that can reduce rates by as much as 30% if you are eligible for them. The best auto insurance companies and a partial list of their discounts are shown below.
- State Farm includes discounts for defensive driving training, Steer Clear safe driver discount, accident-free, good driver, and student away at school.
- Farmers Insurance policyholders can earn discounts including youthful driver, business and professional, mature driver, electronic funds transfer, bundle discounts, and multi-car.
- GEICO may include discounts for anti-theft, seat belt use, emergency military deployment, defensive driver, multi-policy, and membership and employees.
- American Family may have discounts that include good student, air bags, Steer into Savings, TimeAway discount, good driver, and defensive driver.
- Nationwide offers premium reductions for accident-free, easy pay, anti-theft, family plan, business or organization, Farm Bureau membership, and defensive driving.
- Progressive has discounts for online signing, continuous coverage, homeowner, multi-vehicle, online quote discount, and good student.
The chart below shows the comparison of insurance prices with and without discounts applied to the rates. The premiums assume a male driver, no tickets, no at-fault accidents, Nebraska state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with defensive driving course, marriage, passive restraint, homeowner, claim-free, and multiple policy discounts applied. In this example, theaverage amount saved on auto insurance for a Toyota Corolla is 28% or $609.