How many times have you told yourself to find low-cost Toyota Camry insurance in Rochester? Are you irritated from sacrificing other expenses to keep your car insured? You are in the same boat as most other people in Minnesota.
Shockingly, the vast majority of auto insurance customers kept buying from the same company for at least four years, and 38% of drivers have never quoted rates to find lower-cost coverage. Rochester drivers could save up to $1,040 a year by just comparing quotes, but they don't want to spend time to go online and compare rates.
Big companies like GEICO, 21st Century and Progressive constantly blast consumers with fancy advertisements and it is challenging if not impossible to see through the cute green geckos and mayhem and take the time to shop coverage around.
Affordable car insurance in Rochester, MN
The car insurance companies shown below have been selected to offer price comparisons in Rochester, MN. If multiple companies are listed, we recommend you visit two to three different companies to get the lowest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Rate quotes do not factor in specific zip code location which can modify coverage rates significantly.
Rate increases following a ticket or accident
The chart below illustrates how speeding tickets and accident claims can influence Toyota Camry insurance costs for different categories of driver ages. The data is based on a single female driver, full physical damage coverage, $100 deductibles, and no discounts are applied.
Liability only or full coverage
The diagram below shows the difference between Toyota Camry insurance rates with liability coverage only compared to full coverage. The data is based on no driving violations, no at-fault accidents, $500 deductibles, married male driver, and no other discounts are factored in.
When to buy liability coverage only
There is no set guideline of when to exclude comp and collision coverage, but there is a broad guideline. If the annual cost of coverage is about 10% or more of the vehicle's replacement cost less your deductible, then you might want to think about dropping full coverage.
For example, let's assume your Toyota Camry replacement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,000 after the deductible is paid. If premium cost is more than $600 annually to have full coverage, then it's probably a good time to buy liability coverage only.
There are some conditions where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.
Can higher deductibles save money?
The information below shows how choosing a deductible and can change Toyota Camry insurance premiums for each age group. The rates are based on a single male driver, full physical damage coverage, and no discounts are factored in.
Insurance rates and discounts
Properly insuring your vehicles can get expensive, but you can get discounts that can help lower your rates. Larger premium reductions will be automatically applied at the time of quoting, but lesser-known reductions have to be inquired about before you get the savings. If you do not double check each discount you qualify for, you are just wasting money.
- Full Payment Discount - By paying your policy upfront rather than spreading payments over time you may reduce your total bill.
- Own a Home and Save - Simply owning a home may earn you a small savings since owning and maintaining a home requires a higher level of personal finance.
- Discounts for Responsible Drivers - Safe drivers can save as much as half off their rates compared to accident prone drivers.
- Senior Citizens - If you're over the age of 55, you could receive reduced rates.
- Multi-car Discount - Drivers who insure multiple vehicles on one policy may reduce the rate for each vehicle.
- Accident-Free Discounts - Drivers with accident-free driving histories pay less in comparison to drivers with a long claim history.
We need to note that most credits do not apply to the whole policy. Most only cut the cost of specific coverages such as comp or med pay. Just because it seems like all those discounts means the company will pay you, it just doesn't work that way.
A list of companies and a selection of discounts are outlined below.
- Mercury Insurance may offer discounts for location of vehicle, ease of repair, low natural disaster claims, annual mileage, and multi-car.
- Farmers Insurance discounts include distant student, multi-car, teen driver, switch companies, and pay in full.
- Farm Bureau has savings for driver training, good student, 55 and retired, youthful driver, and multi-policy.
- State Farm offers premium reductions for good driver, defensive driving training, multiple policy, Drive Safe & Save, and good student.
- Allstate includes discounts for premier discount, anti-theft, good student, EZ pay plan discount, utility vehicle, new car, and multi-policy.
- GEICO has discounts for anti-theft, driver training, daytime running lights, membership and employees, air bags, anti-lock brakes, and defensive driver.
If you are trying to find low cost Rochester auto insurance quotes, ask each company the best way to save money. Some discounts listed above might not be offered on policies in Rochester. If you would like to choose from a list of insurance companies offering insurance discounts in Minnesota, click here.
Informed Consumers Can Lower Their Insurance Prices
Multiple criteria are part of the equation when you get a price on insurance. Some are obvious like a motor vehicle report, but other criteria are not quite as obvious such as whether you are married or your financial responsibility. Consumers need to have an understanding of some of the factors that help determine your policy premiums. When consumers understand what impacts premium levels, this helps enable you to make changes that may result in cheaper rates.
- Is insurance coverage cheaper for females or males? - Over the last 30 years, statistics show women tend to be less risk to insure than men. It does not mean females are better drivers. Females and males get in at-fault accidents at a similar rate, but the male of the species get into accidents with more damage. Not only are claims higher, but men get higher numbers of serious violations like DWI (DUI) or reckless driving. Youthful male drivers are several times more likely to be in an accident so it costs more to insure them.
- Save by driving less - Driving more miles in a year the more it will cost to insure it. Almost all companies calculate rates determined by how the vehicle is used. Vehicles that do not get driven very much cost less to insure than those used for commuting. Verify your declarations sheet states the correct usage for each vehicle, because improper ratings can cost you money. Improper usage on your Camry can cost quite a bit.
- Safer cars means lower rates - Vehicles with good safety scores can get you lower premiums. Safer cars reduce the chance of injuries and better occupant protection translates into fewer and smaller insurance claims which can result in lower premiums.
- Performance impacts insurance rates - The type of car you need insurance for makes a significant difference in the rate you pay. Since the Toyota Camry is classified as a sedan, rates will be about the same when compared to the average rates in Rochester. The lowest performance passenger vehicles receive the most favorable rates, but that's not the only thing that factors into the final price.
- Avoid traffic tickets - Drivers who don't get tickets pay less for auto insurance as compared to careless drivers. Having a single speeding ticket could increase your next policy renewal by as much as thirty percent. People who have severe violations like DWI, reckless driving or hit and run convictions may be required to submit a SR-22 form with their state's department of motor vehicles in order to drive a vehicle legally.
- Low stress occupation equals lower premiums - Occupational choices like fire fighters, airline pilots, and stock brokers tend to have the highest average rates attributed to intense work situations and lots of time spent away from family. On the other hand, careers like actors, students and homemakers get better rates.
- Never allow your insurance policy to lapse - Going without insurance is a fast way to increase your insurance rates. And not only will your rates increase, the inability to provide proof of insurance may earn you fines and jail time. You may need to file a SR-22 with the Minnesota department of motor vehicles.
- Save money with higher deductibles - Physical damage deductibles define how much you are required to pay if the claim is covered. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Examples of some claims that would be covered could be collision with another vehicle, collision with a deer, and damage caused by road hazards. The more expense you choose to pay out-of-pocket, the lower your rates will be.
- Toyota Camry claim probability - Companies analyze claim trends for every vehicle when they calculate premium costs for each model. Vehicles that statistically have a higher amount or frequency of claims will have increased rates. The next table illustrates the loss history for Toyota Camry vehicles.
For each coverage category, the loss probability for all vehicles, without regard to make or model, is considered to be 100. Values that are 100 or less represent a good loss history, while numbers shown that are more than 100 indicate higher probability of having a loss or an increased likelihood of larger losses.
Toyota Camry Insurance Loss Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Camry 110 94 102 148 145 107 Toyota Camry Hybrid 124 100 110 118 127 96
Statistics from IIHS.org for 2013-2015 Model Years
When to have guidance from an insurance agency
Certain consumers would prefer to talk to an insurance agent and that can be a great decision One of the best bonuses of comparing rate quotes online is that drivers can save money and get cheap rate quotes and still have an agent to talk to. And supporting local agents is especially important in Rochester.
To find an agent, once you fill out this short form, your insurance coverage information is transmitted to participating agents in Rochester that provide free Rochester auto insurance quotes for your coverage. It simplifies rate comparisons since you won't have to leave your computer since price quotes are sent to the email address you provide. You can most likely find cheaper rates and a licensed agent to work with. If you have a need to compare rates for a specific company, just jump over to their website and give them your coverage information.
Insurance agent types
When finding a local agent, it's important to understand the types of agencies and how they operate. Insurance agencies in Rochester can either be independent or exclusive depending on the company they work for.
Independent Agents (or Brokers)
These type of agents do not sell for just one brand so they can quote policies amongst many companies and get the cheapest rates. If you want to switch companies, the business is moved internally which is easy for the insured. If you are comparing rate quotes, it's recommended you include price quotes from at least one independent agent so that you can do a thorough price comparison.
The following is a partial list of independent agencies in Rochester that may be able to provide price quotes.
300 3rd Ave SE #205 - Rochester, MN 55904 - (507) 288-4081 - View Map
Sixta Insurance LLC
425 15th Ave SW - Rochester, MN 55902 - (507) 288-2366 - View Map
Exclusive Car Insurance Agents
Agents of this type can usually just insure with one company and some examples include State Farm or Allstate. They generally cannot give you multiple price quotes so you might not find the best rates. Exclusive agencies are trained well on the products they sell which helps offset the inability to provide other markets.
The following are Rochester exclusive insurance agents who can help you get price quotes.
Deciding on an insurance agency should include more criteria than just the bottom line cost. These are some valid questions you should ask.
- Do they have 24-hour customer assistance?
- Has the agent ever had any license suspensions?
- Do the agents have professional certifications like CPCU or CIC?
- In the event of vehicle damage, can you pick the collision repair facility?
- What is their Better Business Bureau rating?
- Do they reduce claim amounts on high mileage vehicles?
- Will they give you a referral list?
The best insurance company isn't always the cheapest
You just learned quite a bit of information on how to shop for Toyota Camry insurance online. It's most important to understand that the more you quote Rochester auto insurance, the better chance you'll have of finding the cheapest Toyota Camry rate quotes. Consumers could even find that the biggest savings come from the smaller companies. These smaller insurers may have significantly lower premium rates on certain market segments compared to the large companies like Progressive or GEICO.
Cheap Toyota Camry insurance in Rochester can be purchased on the web and from local insurance agents, and you should compare rates from both in order to have the best chance of saving money. A few companies may not provide rate quotes online and usually these regional carriers prefer to sell through independent agents.
When getting Rochester auto insurance quotes online, don't be tempted to buy lower coverage limits just to save a few bucks. Too many times, someone sacrificed full coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your aim should be to buy the best coverage you can find at the best price, not the least amount of coverage.
More information is available below:
- Auto Insurance Learning Center (State Farm)
- Who Has Cheap Minnesota Auto Insurance Quotes for Seniors? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for a Chevrolet Malibu in Minnesota? (FAQ)
- Who Has Affordable Auto Insurance in Minnesota? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with Bad Credit in Minnesota? (FAQ)
- Who Has Affordable Minnesota Auto Insurance for Immigrants? (FAQ)
- Understanding Car Crashes Video (iihs.org)
- Frontal Crash Tests (iihs.org)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)