Buying competitive car insurance for a Toyota Camry in Michigan is pretty easy to do, but it depends on an enormous amount of rating factors such as whether you are married, your occupation, and if you have tickets or violations. Drivers pay on average $2,300 annually for Camry insurance, but that amount is an estimation calculated based on a 50-year-old single male driver with both comprehensive and collision coverage and $100 deductibles.
But there is a high probability that you are not 50 years old and maybe not even male, you might be married instead of single, and you want different coverage limits than the example. Not every driver requires the same auto insurance coverages, so the best method for finding cheap insurance rates for your Toyota is to just take the time to compare rates yourself. It only takes a couple of minutes and you can get rates from some of the most affordable companies in Michigan.
Cheapest Toyota Camry Insurance Rates
The trim level of your vehicle tends to impact price, so the price to insure a Camry LE will cost $398 less than the price to insure the more well-appointed Camry Hybrid model, as demonstrated by the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Camry LE | $512 | $1106 | $780 | $46 | $234 | $2,678 | $223 |
| Camry SE | $512 | $1302 | $780 | $46 | $234 | $2,874 | $240 |
| Camry XLE | $512 | $1302 | $780 | $46 | $234 | $2,874 | $240 |
| Camry Hybrid | $576 | $1302 | $882 | $52 | $264 | $3,076 | $256 |
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Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Michigan minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Price estimates do not factor in your specific Detroit location which can lower or raise price quotes substantially.
Finding out which companies offer the most affordable car insurance rates for a Toyota Camry requires a bit more work in order to find the best policy. Each insurance company uses their own method for setting rates, so we’ll take a look at the car insurance companies with the overall cheapest rates in Michigan.
It’s a good idea to know that Michigan car insurance rates are influenced by many factors which can substantially decrease or increase the price you pay. Improving your credit score, filing a claim, or getting a DUI may cause policy rate changes that may make certain companies more affordable than the competition.
Best Insurance Companies for Your Camry
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $949 |
| 2 | GEICO | $993 |
| 3 | Safeco | $1,037 |
| 4 | MetLife | $1,324 |
| 5 | MEEMIC | $1,394 |
| 6 | Chubb | $1,428 |
| 7 | Pioneer State Mutual | $1,488 |
| 8 | Hastings Mutual | $1,643 |
| 9 | Auto-Owners | $1,686 |
| 10 | Frankenmuth | $1,713 |
| 11 | SECURA | $1,832 |
| 12 | Progressive | $1,866 |
| 13 | Wolverine Mutual | $2,191 |
| 14 | Grange Mutual | $2,253 |
| 15 | Allied | $2,263 |
| 16 | Allmerica | $2,292 |
| 17 | Hanover | $2,305 |
| 18 | Auto Club Group | $2,391 |
| 19 | Nationwide | $2,593 |
| 20 | Farm Bureau | $2,651 |
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USAA offers some of the most affordable car insurance rates in Detroit at around $949 each year. This is $1,444 less than the average rate paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and MEEMIC also qualify as some of the best Detroit, MI insurance companies.
In the above rates, if you currently have a policy with Safeco and switched to USAA, you could see yearly savings of upwards of $88. Drivers with MetLife might save as much as $375 a year, and MEEMIC policyholders might cut rates by $445 a year.
To get a quick, customized rate comparison, click here to start a quote or visit any of the companies below.
Remember that these premiums are averaged across all types of drivers and the different vehicles they drive and are not factoring in an exact location for a Toyota Camry. So the insurer that has the cheapest rates for you may not even be in the list above. That underscores the importance of why you need to get auto insurance quotes using your own driver information and specific vehicle type.
The example below demonstrates how choosing different deductibles can influence annual premium costs when researching cheap insurance for a Toyota Camry. The price estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.
The data above shows that a 40-year-old driver could lower their car insurance rates by $658 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $992 by switching to a $1,000 deductible. Even younger drivers, like the 20-year-old example, could drop their prices as much as $1,630 every year just by choosing higher deductibles.
When choosing a higher deductible, it is a good idea to have enough funds in savings to allow you to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Why you should be shopping around
Michigan car insurance rates are influenced by many factors which can substantially decrease or increase the price you have to pay for coverage. Improving your credit score, moving to a different location, or getting a reckless driving citation can trigger changes in premium resulting in some companies being cheaper in comparison to the competition. In addition to those changes, companies change premium rates as needed to adjust for unexpected claims or profits. An unexpected high level of claims may cause higher rates, while a better claims history may cause cheaper Camry insurance rates.
For example, the data below shows rates for the cheapest car insurance in Detroit, MI for a 40-year-old male driver with a clean driving record, no accidents, and a good credit history. When quoting prices based on his current rating profile, USAA might offer the cheapest car insurance rates in Detroit at $2,302 annually. This is $91 less than the average premium paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and MEEMIC are the remaining most affordable Detroit, MI auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates a chargeable claim, less-than-perfect credit, and a few blemishes on his driving record. Because each company has their own process for setting rates, comparing quotes may result in a different ranking of companies as shown below.
Safeco now has the cheapest price in Detroit, MI with GEICO, Pioneer State Mutual, USAA, and Hastings Mutual also having competitive pricing. This shows why consumers need to take the time to shop around with many companies when trying to find the best auto insurance quotes for a Toyota Camry.
Prices consist of many different factors and can change without notice, so the best option when you last compared rates may now be priced much higher than other options.