Really, the only way to find better pricing on Toyota Corolla insurance is to compare prices at least once a year from different companies in Omaha.
- Spend some time learning about individual coverages and the measures you can control to prevent expensive coverage. Many factors that are responsible for high rates like accidents, traffic violations, and an unacceptable credit rating can be controlled by making small lifestyle or driving habit changes. Later in this article we will cover the details to get cheaper coverage and get discounts that may be available to you.
- Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from one company like GEICO or State Farm, while independent agencies can provide prices for a wide range of insurance providers.
- Compare the new quotes to your existing policy and determine if cheaper Corolla coverage is available. If you find a lower rate, make sure there is no lapse in coverage.
A good tip to remember is to try to compare identical deductibles and limits on each quote and to quote with as many different insurance providers as possible. This provides a fair rate comparison and a better comparison of the market.
Astonishing but true according to a recent study, almost 70% of drivers in Nebraska kept their policy with the same company for a minimum of four years, and virtually 40% of consumers have never shopped around. Many consumers in the U.S. could save about 47% a year by just comparing rate quotes, but most just don’t grasp the amount of savings they would get if they switched to a more affordable policy.
When comparison shopping, there are several ways to get quotes from many different Nebraska insurance companies. The recommended way to lower the rate you pay for insurance consists of shopping online. Just remember that comparing more rates from different companies will improve the odds of getting a lower rate than you’re paying now.
The auto insurance companies shown below offer comparison quotes in Omaha, NE. If you want cheaper car insurance in Omaha, we recommend you visit as many as you can in order to get a fair rate comparison.
Omaha auto insurance discounts
Car insurance companies don’t always publicize all discounts very clearly, so we researched both the well known and the more hidden auto insurance savings. If you aren’t receiving every discount you deserve, you are just wasting money.
- Driver Education Discount – Teen drivers should enroll in driver’s education if it’s offered in school.
- College Student – Children who are attending college and won’t have access to an insured vehicle can receive lower rates.
- Multi-line Discount – Insurance companies who offer life insurance give a discount if you purchase a life policy as well.
- More Vehicles More Savings – Buying coverage for primary and secondary vehicles on one policy can get a discount for every vehicle.
- Discount for Multiple Policies – If you combine your home and auto policies with the same company you may earn nearly 15% which can help you find low cost Toyota Corolla insurance.
- Discounts for Good Drivers – Accident-free drivers can get discounts for up to 45% lower rates than drivers with accidents.
- Low Mileage Discounts – Low annual miles may allow you to get discounted prices on garaged vehicles.
Don’t be shocked that most credits do not apply to the whole policy. Most only apply to the cost of specific coverages such as comp or med pay. If you do the math and it seems like you would end up receiving a 100% discount, you’re out of luck.
The chart below illustrates the difference between Toyota Corolla insurance prices with and without discounts applied. The price estimates are based on a female driver, a clean driving record, no at-fault accidents, Nebraska state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, multi-policy, safe-driver, claim-free, and marriage discounts applied.
A list of auto insurance companies and their possible discounts can be read below.
- State Farm has savings for multiple autos, anti-theft, accident-free, Steer Clear safe driver discount, student away at school, and good driver.
- GEICO offers premium reductions for federal employee, defensive driver, five-year accident-free, anti-theft, military active duty, multi-policy, and seat belt use.
- Liberty Mutual may include discounts for newly retired, multi-policy, new vehicle discount, new move discount, teen driver discount, multi-car, and good student.
- The Hartford may have discounts that include defensive driver, air bag, anti-theft, good student, bundle, vehicle fuel type, and driver training.
- MetLife has discounts for good driver, claim-free, multi-policy, good student, and defensive driver.
- Progressive offers discounts for continuous coverage, good student, multi-policy, online signing, online quote discount, homeowner, and multi-vehicle.
It’s a good idea to ask each company how many discounts you can get. A few discounts may not be available in Omaha. To find providers that can offer you the previously mentioned discounts in Omaha, click here to view.
Insurance coverage analysis
The price information displayed next covers different coverage costs for Toyota Corolla models. Being aware of how insurance policy rates are figured can help you make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corolla LE | $172 | $342 | $308 | $18 | $92 | $932 | $78 |
| Corolla S | $172 | $342 | $308 | $18 | $92 | $932 | $78 |
| Corolla XLE | $172 | $342 | $308 | $18 | $92 | $932 | $78 |
| Corolla XRS | $194 | $342 | $308 | $18 | $92 | $954 | $80 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Nebraska minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Rate information does not factor in specific zip code location which can increase or decrease premiums noticeably.
Comparison of policy deductibles
One of the most common car insurance questions is at what level do you set your deductibles. The rates below can help show the rate differences when you buy lower versus higher physical damage deductibles. The first pricing table uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corolla LE | $232 | $460 | $300 | $18 | $90 | $1,125 | $94 |
| Corolla S | $232 | $460 | $300 | $18 | $90 | $1,125 | $94 |
| Corolla XLE | $232 | $460 | $300 | $18 | $90 | $1,125 | $94 |
| Corolla XRS | $262 | $460 | $300 | $18 | $90 | $1,155 | $96 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corolla LE | $188 | $370 | $300 | $18 | $90 | $966 | $81 |
| Corolla S | $188 | $370 | $300 | $18 | $90 | $966 | $81 |
| Corolla XLE | $188 | $370 | $300 | $18 | $90 | $966 | $81 |
| Corolla XRS | $212 | $370 | $300 | $18 | $90 | $990 | $83 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Nebraska minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Price information does not factor in specific garaging location which can revise prices greatly.
Based on this data, using a $250 deductible will cost you about $13 more each month or $156 every year than opting for the higher $500 deductible. Because you would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you average more than 19 months between claim filings, you would come out ahead by selecting a higher deductible.
The example below illustrates how choosing a deductible and can increase or decrease Toyota Corolla insurance premiums for different age categories. The rate quotes are based on a single male driver, full physical damage coverage, and no discounts are applied to the premium.
Toyota Corolla insurance premiums by gender
The illustration below illustrates the difference between Toyota Corolla insurance costs for male and female drivers. The data assumes a clean driving record, no at-fault accidents, comp and collision included, $100 deductibles, single marital status, and no other discounts are factored in.
Toyota Corolla full coverage rates compared to liability only
The chart below illustrates the difference between Toyota Corolla car insurance rates with and without full coverage. The rates are based on no claims or driving citations, $100 deductibles, single marital status, and no discounts are applied to the premium.
When to stop buying comprehensive and collision coverage
There is no written rule to eliminate comp and collision coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s assume your Toyota Corolla claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $2,000 after you pay the deductible. If you are paying over $200 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
There are some cases where dropping physical damage coverage is not a good idea. If you still owe a portion of the original loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
Insurance quotes from local neighborhood Omaha car insurance agents
Some people would rather buy from a licensed agent and often times that is recommended One of the great benefits of getting free rate quotes online is the fact that you can find better rates and still have a local agent.
After completing this form (opens in new window), the coverage information is instantly submitted to agents in your area that give free quotes for your insurance coverage. You never need to visit any agencies since price quotes are sent directly to your email. It’s the lowest rates and an insurance agent to talk to. If you wish to get a comparison quote for a specific company, just search and find their rate quote page and fill out the quote form the provide.
Picking an insurer needs to be determined by more than just the quoted price. You should also get answers to these questions.
- Do they get paid more for recommending certain coverages?
- When do they do a full risk review?
- Do they have any clout with companies to ensure a fair claim settlement?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Do the agents have professional certifications like CPCU or CIC?
Pick the best auto insurance agent in Omaha for you
If you would like to find a good insurance agency, there are a couple of types of agencies and how they are distinctly different. Agencies in Omaha can be categorized as either exclusive agents or independent agents.
Exclusive Agents
Agents that elect to be exclusive can only provide one company’s prices such as AAA, State Farm, Farmers Insurance, and Allstate. They generally cannot give you multiple price quotes so you need to shop around if the rates are high. They are usually quite knowledgeable on their company’s products and that can be a competitive advantage. Some people will only use the same exclusive agent primarily because of the brand and the convenience of having all coverages with one company.
Listed below is a short list of exclusive insurance agents in Omaha that can give you comparison quotes.
- Aaron Stockton – State Farm Insurance Agent
1411 N 72nd St – Omaha, NE 68114 – (402) 551-3455 – View Map - Daniel Kershaw – State Farm Insurance Agent
3525 N 147th St #209 – Omaha, NE 68116 – (402) 333-5108 – View Map - State Farm® insurance – Cort Bonner
3125 N 120th St – Omaha, NE 68164 – (402) 934-4141 – View Map
Independent Agencies or Brokers
Agents that elect to be independent do not have single company limitations so they can insure your vehicles with an assortment of companies and find the cheapest rate. If you want to switch companies, the business is moved internally and you don’t have to switch agencies. When shopping rates, we recommend you check rates from multiple independent agents to have the best price comparison. Many write coverage with small regional insurance companies that may have much lower rates than larger companies.
The following is a short list of independent insurance agencies in Omaha willing to provide price quote information.
- Davis Companies
1313 Cuming St #200 – Omaha, NE 68102 – (402) 399-9090 – View Map - Omaha Division Insurance
14792 Ray Sapp Dr – Omaha, NE 68138 – (402) 334-7087 – View Map - United Insurance Agencies and Affordable Auto Insurance
1055 N 115th St #208 – Omaha, NE 68154 – (402) 492-8020 – View Map
How do Car Insurance Companies Determine Toyota Corolla Insurance Prices?
Many factors are used in the calculation when quoting car insurance. Some are obvious such as your driving record, although others are not quite as obvious like where you live and annual miles driven.
The itemized list below are a few of the things used by companies to determine rates.
The type of vehicle you drive affects your premiums – The performance of the car you are trying to find cheaper insurance for makes a huge difference in the rate you pay. The best insurance prices are usually found on lower cost passenger cars, but there are many factors that impact the final cost.
The following data uses these assumptions: married female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. The data compares Toyota Corolla rates compared to other models of vehicles that have different performances.
Frequent insurance claims will cost you more – Companies in Nebraska give the lowest premiums to people who do not file claims often. If you’re an insured who likes to file claims you can pretty much guarantee much higher rates or policy non-renewal. Your car insurance is intended to be relied upon for claims that you cannot pay yourself.
Married drivers get cheaper costs – Walking down the aisle can get you a discount on your car insurance policy. It translates into being more mature and it’s statistically proven that married drivers tend to file fewer claims.
Cheaper premiums for prior coverage – Having a gap between insurance policy dates will be a quick way to increase your renewal premiums. In addition to paying higher premiums, failure to provide proof of insurance will get you a hefty fine and possibly a revoked license.
Poor credit decisions can cost you – Having a bad credit score can be a huge factor in determining what you pay. So if your credit is not that good, you may save money insuring your Toyota Corolla by improving your credit score. Drivers with very good credit scores tend to be less risk to insure as compared to drivers with lower ratings.
Big city or small town – Being located in areas with lower population can be a good thing when shopping for auto insurance. Fewer drivers on the road means less chance of accidents in addition to lower liability claims. Residents of big cities have to deal with more auto accidents and a longer drive to work. Higher commute times means a statistically higher chance of an accident.
Toyota Corolla insurance loss statistics – Insurers analyze historical claim data to help determine costs. Vehicles that are shown to have higher prevalence or dollar amount of losses will have a higher cost to insure.
The next table illustrates the compiled insurance loss statistics for Toyota Corolla vehicles. For each policy coverage type, the claim probability for all vehicles, as an average, is set at 100. Values that are 100 or less represent a good loss history, while percentage values above 100 point to more claims or an increased chance of larger losses than average.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Corolla | 133 | 111 | 94 | 156 | 158 | 128 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insuring your Corolla just makes sense
Even though Omaha Corolla insurance rates can get expensive, insuring your vehicle is mandatory in Nebraska but it also protects more than you think.
First, the majority of states have minimum liability requirements which means you are required to carry a specific level of liability if you want to drive legally. In Nebraska these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if your vehicle has a lienholder, almost all lenders will make it mandatory that you carry insurance to protect their interest in the vehicle. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Toyota at a much higher rate and force you to pay for it.
Third, insurance preserves both your Toyota and your personal assets. It will also pay for medical bills for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense in the event you are sued. If your Toyota gets damaged, comprehensive and/or collision insurance will cover the repair costs.
The benefits of insuring your Corolla definitely exceed the cost, specifically if you ever have a liability claim. Today the average American driver is currently overpaying as much as $810 a year so it’s important to compare rates every year to ensure rates are competitive.
One last note
You just learned a lot of ways to lower your Toyota Corolla insurance car insurance rates in Omaha. The key concept to understand is the more rate comparisons you have, the better likelihood of getting low cost Omaha auto insurance quotes. You may even discover the best price on insurance is with an unexpected company.
Drivers who switch companies do it for any number of reasons including denial of a claim, delays in paying claims, delays in responding to claim requests and policy cancellation. It doesn’t matter why you want to switch finding a new insurance company is pretty simple and you could end up saving a buck or two.
Cost effective Toyota Corolla insurance is available both online and from local insurance agents, and you need to comparison shop both to get a complete price analysis. A few companies may not offer online quoting and usually these smaller providers sell through independent insurance agencies.
More tips and info about insurance can be found by following these links:
- Comprehensive Coverage (Liberty Mutual)
- How Much is Car Insurance for Inexperienced Drivers in Omaha? (FAQ)
- How Much are Omaha Car Insurance Rates for Uninsured Drivers? (FAQ)
- Who Has the Cheapest Car Insurance Rates for a Honda Accord in Omaha? (FAQ)
- Who Has Affordable Omaha Car Insurance Rates for a School Permit? (FAQ)
- What Insurance is Cheapest for a Nissan Sentra in Omaha? (FAQ)
- Crash Avoidance Technologies FAQ (iihs.org)
- Auto Insurance 101 (About.com)
- Top Signs Your Brakes are Giving Out (State Farm)
- Cellphones, Texting and Driving (iihs.org)