Compare Toyota Prius Insurance Rate Quotes in Detroit

Finding cheaper insurance for a Toyota Prius in Michigan can be a lot of work, but you can learn these tips to make it easier. There are more efficient ways to find auto insurance online and we’ll show you the absolute fastest way to quote coverages for a Toyota and get the lowest possible price from both online companies and Detroit agents.

It’s amazing but most auto insurance policyholders have been with the same company for more than four years, and 38% of customers have never even compared rates from other companies. With the average premium in Michigan being $6,260, drivers could save almost 65% a year just by getting comparison quotes, but they don’t know the large savings they would see if they replace their high priced policy.

Cheap companies for Toyota Prius insurance

The auto insurance companies shown below have been selected to offer price comparisons in Michigan. If multiple companies are listed, we suggest you get prices from several of them to get the best price comparison.

Premium rates and analysis

The coverage information below covers different policy rates for Toyota Prius models. Learning a little about how insurance policy rates are formulated can help you make smart choices when selecting a coverage provider.

Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Michigan minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Price estimates do not factor in specific zip code location which can lower or raise coverage prices noticeably.

Rate comparison for different deductibles

When comparing auto insurance rates, the most common question is which deductible level should you buy. The comparison tables below may aid in understanding the costs and benefits when you buy lower versus higher physical damage deductibles. The first rate estimation uses a $100 comprehensive and collision deductible and the second set of rates uses a $1,000 deductible.

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Michigan minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rate information does not factor in vehicle location which can impact rates noticeably.

Based on these figures, using a $100 deductible will cost you about $69 more each month or $828 each year than selecting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have at a minimum 13 months between claims, you would probably be better off if you choose a higher deductible. The table below illustrates how this decision is made.

Illustration showing the impact of accidents and violations

The illustration below highlights how traffic violations and fender-benders influence Toyota Prius insurance prices for different age groups. The data assumes a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.

Auto insurance prices based on gender

The diagram below shows the difference between Toyota Prius insurance costs for male and female drivers. The rate quotes are based on a clean driving record, no claims, comp and collision included, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

Does full coverage make sense?

The chart below illustrates the comparison of Toyota Prius car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Michigan. Data assumes no claims or driving violations, $1,000 deductibles, drivers are not married, and no discounts are applied.

When to stop buying full coverage

There is no set rule to stop paying for physical damage insurance, but there is a general school of thought. If the yearly cost for physical damage 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 Toyota Prius replacement cost is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $8,000 after paying the physical damage deductible. If premiums are more than $800 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are some cases where eliminating full coverage is not a good idea. If you still have a loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

Insurance Rate Influencing Factors

Lots of things are part of the equation when pricing auto insurance. Some of the criteria are obvious like an MVR report, but other criteria are not as apparent such as whether you are married or your vehicle rating. The best way to find cheaper auto insurance is to take a look at a few of the rating criteria that aid in calculating your auto insurance rates. When you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that can help you get cheaper rates.

Drive less and save – The more you drive in a year’s time the higher the price you pay to insure it. Most insurance companies charge rates determined by how the vehicle is used. Autos left parked in the garage cost less to insure than those used for commuting. Make sure your policy shows the proper vehicle usage. Having an incorrect usage rating on your Prius can result in significantly higher rates.

Protect yourself with liability protection – The liability section of your policy will afford coverage if ever a court rules you are at fault for an accident. Your policy’s liability insurance provides legal defense coverage to attempt to prove you were not liable. This coverage is relatively inexpensive compared to other policy coverages, so drivers should buy more than the minimum limits required by law.

Auto insurance policy lapses increase prices – Not maintaining insurance can get you a ticket and any future policy may cost more because you let your coverage lapse. In addition to paying higher premiums, being ticketed for driving with no insurance will get you a license revocation or jail time. You could then be forced to file a SR-22 with the Michigan DMV.

Do you know your coverage deductibles? – Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your vehicle. A few examples of covered claims are a dented fender, flood damage, and having your car stolen. Physical damage deductibles are how much you are willing to pay before your auto insurance pays a claim. The larger the amount you have to pay, the lower your rates will be.

Claims statistics for a Toyota Prius – Car insurance companies take into consideration insurance loss statistics for every vehicle to calculate a price that will offset any claims. Vehicles that historically have increased losses will cost more to insure.

The data below shows the historical insurance loss data for Toyota Prius vehicles. For each coverage category, the claim probability for all vehicles, regardless of manufacturer or model, is represented as 100. Values that are under 100 imply a favorable loss record, while values that are above 100 point to more losses or an increased chance of a larger loss.

Lower-cost Detroit insurance quotes with discounts

Companies don’t list all possible discounts very well, so the following list contains some of the best known and the harder-to-find savings tricks you should be using when you buy Detroit car insurance online.

• Defensive Driver – Completing a defensive driver course is a good idea and can lower rates and easily pay for the cost of the class.
• Payment Method – If you can afford to pay the entire bill instead of making monthly payments you can actually save on your bill.
• Good Grades Discount – Performing well in school may save as much as 25% on a Detroit car insurance quote. Many companies even apply the discount to college students up until you turn 25.
• Drive Less and Save – Driving less can earn slightly better premium rates than normal.
• Policy Bundle Discount – If you can bundle your auto and homeowners insurance with one company you could save up to 20% off your total Prius insurance premium.
• Seat Belts Save – Buckling up and requiring all passengers to fasten their seat belts could cut 10% or more on medical payment and PIP coverage.
• One Accident Forgiven – This one is not really a discount per se, but a handful of insurance companies will let one accident slide without the usual rate increase as long as you don’t have any claims prior to being involved in the accident.

Discounts lower rates, but most discount credits are not given to the entire policy premium. Some only apply to individual premiums such as medical payments or collision. Even though it appears it’s possible to get free car insurance, it’s just not the way it works.

The illustration below visualizes the comparison of Toyota Prius insurance rates with and without discounts being applied to the rates. The data assumes a male driver, a clean driving record, no at-fault accidents, Michigan state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, multi-policy, marriage, and safe-driver discounts applied.

Companies and their offered discounts are:

• Farm Bureau offers discounts including good student, youthful driver, renewal discount, driver training, 55 and retired, multi-vehicle, and multi-policy.
• Liberty Mutual has savings for newly married, teen driver discount, new vehicle discount, new move discount, preferred payment discount, and hybrid vehicle.
• State Farm discounts include multiple policy, student away at school, multiple autos, good driver, and Steer Clear safe driver discount.
• Auto-Owners Insurance has discounts for safe vehicle, good student, safe driver, group or association, and air bags.
• GEICO policyholders can earn discounts including multi-policy, good student, federal employee, seat belt use, and defensive driver.
• SAFECO offers premium reductions for teen safe driver, anti-theft, accident prevention training, homeowner, drive less, and bundle discounts.

If you want low cost Detroit car insurance quotes, ask every insurance company to apply every possible discount. Discounts may not apply to policies in Detroit. If you would like to view insurance companies with the best discounts in Detroit, click here to view.

Don’t I need to contact an insurance agent?

Some people would prefer to sit down and talk to an agent and that is not a bad decision Good agents can make sure you are properly covered and help you file claims. The best thing about comparing rate quotes online is you may find better rates and still buy from a local agent.

For easy comparison, once you complete this quick form, the quote information is instantly submitted to local insurance agents who will gladly provide quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to do any legwork since rate quotes are delivered directly to you. If for some reason you want to compare rates from a specific company, don’t hesitate to find their quoting web page and give them your coverage information.

Finding the right insurance company is decision based upon more than just a cheap quote. Here are some questions you might want to ask.

• Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
• Do they see any coverage gaps in your plan?
• How much can you save by raising your physical damage deductibles?
• If they are an independent agency in Detroit, which companies do they recommend?
• Where would your vehicle be repaired?

Upon getting good answers to all your questions and an affordable coverage quote, chances are good that you have found a company that is a good match to adequately provide insurance. Just understand that you can always cancel coverage for any reason so don’t feel that you’re stuck with your new company for a certain time period.

How much car insurance do I need?

When it comes to buying insurance from an agent or online, there is no “perfect” insurance plan. Your situation is unique.

For instance, these questions may help highlight if your situation may require specific advice.

• How can I find cheaper teen driver insurance?
• Is a fancy paint job covered?
• Am I covered when renting a car or should I buy coverage from the car rental agency?
• Is my cargo covered for damage or theft?
• Am I covered if I hit someone who is not insured?
• Why am I required to get a high-risk car insurance policy?
• I have health insurance so do I need medical payments coverage?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form. It is quick, free and can provide invaluable advice.

Be persistent and save

Insureds change insurance companies for many reasons like not issuing a premium refund, being labeled a high risk driver, policy non-renewal or denial of a claim. It doesn’t matter why you want to switch finding a new company can be easy and end up saving you some money.

When searching for cheaper Detroit car insurance quotes, make sure you don’t buy poor coverage just to save money. In many instances, someone sacrificed liability coverage limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to get the best coverage possible at the best possible price while not skimping on critical coverages.

Affordable Toyota Prius insurance in Detroit can be bought from both online companies and with local Detroit insurance agents, so you need to shop Detroit car insurance with both so you have a total pricing picture. Some auto insurance companies may not provide online price quotes and many times these small insurance companies prefer to sell through local independent agents.

Steps to finding affordable Toyota Prius insurance in Detroit

If you want to save money, the best way to find affordable quotes for car insurance rates is to start comparing prices yearly from insurers in Detroit. You can shop around by following these guidelines.

• Step 1: Try to comprehend how auto insurance works and the factors you can control to prevent high rates. Many rating factors that result in higher prices like traffic violations, accidents, and an imperfect credit rating can be remedied by being financially responsible and driving safely.
• Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from a single company like GEICO and Allstate, while agents who are independent can provide price quotes from many different companies.
• Step 3: Compare the new rate quotes to the premium of your current policy and determine if there is any savings. If you can save money, verify that coverage does not lapse between policies.
• Step 4: Give notification to your current company of your intent to cancel the current policy. Submit a down payment along with a completed application to the new company. Make sure you store the proof of insurance certificate in an accessible location in your vehicle.

The key thing to remember is to try to use similar coverage information on each price quote and and to get prices from as many companies as feasibly possible. This ensures a fair rate comparison and a thorough selection of prices.

Additional resources

• Neck Injury FAQ (iihs.org)
• Who Has Cheap Auto Insurance Quotes for Drivers Over Age 70 in Detroit? (FAQ)
• Who Has Affordable Detroit Auto Insurance for a Nissan Rogue? (FAQ)
• How Much Does Car Insurance Go Up After a Speeding Ticket? (DetroitInsure.com)
• Understanding your Policy (NAIC.org)
• Distracted Driving Statistics (Insurance Information Institute)
• Vehicle Size and Weight FAQ (iihs.org)