Car insurance shoppers not familiar with comparison shopping online can find sourcing the cheapest Toyota Tacoma insurance in Cheyenne is tougher than they thought.
It's hard to believe, but almost 70% of drivers kept buying from the same company for well over three years, and nearly 40% of drivers have never shopped around. The average driver in Wyoming can save as much as $220 each year just by comparing rates, but they just don't want to shop their coverage around.
If you are paying for car insurance now, you should be able to cut your premiums using the following tips. The intent of this article is to help educate you on the best way to buy inexpensive car insurance. Although Wyoming consumers need to have an understanding of the methods companies use to sell insurance online and take advantage of how the system works.
These discounts can lower your car insurance rates
Companies that sell car insurance don't always list all available discounts in a way that's easy to find, so we took the time to find some of the best known and the harder-to-find ways to save on car insurance.
- Anti-lock Brake System - Cars, trucks, and SUVs equipped with ABS or steering control can stop better under adverse conditions and earn discounts up to 10%.
- Discounts for Cautious Drivers - Accident-free drivers can pay as much as 50% less than drivers with accident claims.
- No Charge for an Accident - Not really a discount, but companies like GEICO and Liberty Mutual will allow you to have one accident without raising rates if you have no claims prior to the accident.
- Discount for Life Insurance - If the company offers life insurance, you could get a discounted price on car insurance if you buy some life insurance too.
- Low Mileage Discounts - Driving fewer miles can qualify you for better rates on cars that stay parked.
- Theft Deterrent Discount - Cars, trucks, and SUVs equipped with anti-theft or alarm systems help deter theft and can earn a small discount on your policy.
- Buy New and Save - Buying a new car model can save up to 30% because newer vehicles keep occupants safer.
- Senior Citizen Discount - Seniors may receive a small discount on rates.
- Onboard Data Collection - Drivers that enable their car insurance company to scrutinize driving patterns remotely such as Snapshot from Progressive or Drivewise from Allstate might see lower rates if they show good driving skills.
- Early Payment Discounts - By paying your entire bill at once instead of monthly or quarterly installments you could save up to 5%.
As a disclaimer on discounts, most credits do not apply to the entire policy premium. Most cut the price of certain insurance coverages like comprehensive or collision. Even though the math looks like all those discounts means the company will pay you, you aren't that lucky.
Some of the larger companies that may have these benefits possibly include:
Before purchasing a policy, check with each company or agent the best way to save money. All car insurance discounts might not be offered in Cheyenne. To view insurers offering car insurance discounts in Cheyenne, click here to view.
It's important to know that quoting more increases your odds of finding more affordable rates. Some insurance companies are not set up to provide rate quotes online, so you also need to get prices from those companies as well.
The providers in the list below have been selected to offer free rate quotes in Wyoming. If multiple providers are shown, we recommend you visit several of them to find the most competitive car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$266||$546||$404||$24||$122||$1,362||$114|
|Tacoma X-Runner 2WD||$168||$398||$434||$26||$130||$1,156||$96|
|Tacoma Double Cab 4WD||$214||$360||$484||$28||$144||$1,230||$103|
|Tacoma Double Cab TRD Off-Road Package 4WD||$214||$360||$484||$28||$144||$1,230||$103|
|Tacoma Double Cab TRD Sport Package 4WD||$300||$546||$404||$24||$122||$1,396||$116|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Wyoming minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Rate quotes do not factor in specific zip code location which can lower or raise auto insurance rates greatly.
Tickets and at-fault accidents raise rates
The diagram below illustrates how traffic citations and fender-benders impact Toyota Tacoma insurance rates for different categories of driver ages. The rate quotes are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
Full coverage rates vs. liability-only in Cheyenne
The example below illustrates the difference between Toyota Tacoma auto insurance costs with full coverage compared to only the Wyoming minimum liability coverage. The premiums assume no accidents, no driving violations, $500 deductibles, single male driver, and no policy discounts are applied.
When to drop comp and collision
There is no definitive formula that is best for determining when to drop full coverage, but there is a general convention. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then you might consider buying liability only.
For example, let's say your Toyota Tacoma claim settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $2,000 after paying your policy deductible. If it's costing in excess of $200 annually for your policy with full coverage, then you may need to consider dropping full coverage.
There are some cases where eliminating full coverage is not a good plan. If you haven't satisfied your loan, you have to maintain full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage.
Policy deductible comparison
The illustration below demonstrates how deductibles and can raise or lower Toyota Tacoma insurance rates for different categories of driver ages. The premium estimates are based on a married female driver, comp and collision included, and no discounts are applied to the premium.
Why Informed Drivers Pay Less for Toyota Tacoma Insurance
Lots of things are part of the equation when quoting car insurance. Some of the criteria are obvious such as your driving record, although some other factors are less apparent like your vehicle usage or how financially stable you are.
The following are most of the major factors that factor into your rates.
- Age of drivers - More mature drivers have been proven to be more responsible, statistically cause fewer accidents, and get fewer tickets.Drivers with little experience are statistically proven to be less responsible with other occupants in the car so insurance rates are higher.
- Always have insurance - Allowing your insurance policy to lapse can be a fast way to drive up your policy premiums. And not only will insurance be more expensive, being ticketed for driving with no insurance may result in a fine, jail time, or a revoked license. Then you may be required to submit proof of financial responsibility or a SR-22 with the Wyoming department of motor vehicles.
- Lower coverage deductibles cost more - Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your vehicle. Some coverage claims are a dented fender, hail damage, and windstorm damage. The deductibles you choose tell how much you are required to spend if the claim is covered. The more damage repair cost you choose to pay out-of-pocket, the bigger discount you will receive.
- Responsible drivers pay lower prices - Your driving record impacts premiums far more than you think. Only having one ticket may cause rates to rise forty percent or more. Good drivers tend to pay less for car insurance than people who have multiple driving citations. People who have flagrant violations such as DUI or willful reckless driving might be required by their state to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to legally drive.
- Insurance loss probability for a Toyota Tacoma - Companies analyze claim trends for every vehicle in order to profitably underwrite each model. Vehicles that the data shows to have increased losses will be charged more to insure.
The table below demonstrates the historical insurance loss data for Toyota Tacoma vehicles. For each insurance policy coverage type, the claim probability for all vehicles averaged together is represented as 100. Percentage numbers below 100 indicate a favorable loss history, while values that are above 100 point to more claims or a tendancy for claims to be larger.
Auto Insurance Loss Data for Toyota Tacoma Models
Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Tacoma Double Cab 2WD 79 109 70 77 76 92 Toyota Tacoma Double Cab 4WD 82 104 84 64 56 77 Toyota Tacoma Double Cab LWB 2WD 87 108 74 96 Toyota Tacoma Double Cab LWB 4WD 84 104 88 68 57 79 Toyota Tacoma Xtra Cab 2WD 80 105 60 86 75 96 Toyota Tacoma Xtra Cab 4WD 71 90 77 48 51 65
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Car insurance agents can help
A small number of people still prefer to go talk to an agent and that is a smart decision A good thing about comparing auto insurance online is the fact that drivers can get cheap auto insurance quotes and still choose a local agent.
After filling out this short form, your coverage information gets sent to local insurance agents that can provide free Cheyenne car insurance quotes for your insurance coverage. You don't have to contact an agency since price quotes are sent to you. Get lower rates AND an agent nearby. If you have a need to get a price quote from a specific auto insurance provider, you can always navigate to their website and complete a quote there.
Choosing the best insurer is decision based upon more than just the bottom line cost. These are some valid questions you should ask.
- What insurance company do they write the most business with?
- Does the company have a local claim office in Cheyenne?
- Can they help ensure a fair claim settlement?
- Do they prorate repair cost based on vehicle mileage?
- Do the coverages you're quoting properly cover your vehicle?
- Do they offer accident forgiveness?
- Is working in the agency their full-time job?
What type of Cheyenne auto insurance agent is right for you?
If you're trying to find a good insurance agency, there are a couple of different types of agencies and how they can write your policy. Auto insurance agents are categorized either independent agents or exclusive agents.
Agents that elect to be exclusive generally can only insure with one company and some examples include Farmers Insurance, State Farm, or Allstate. These agents are not able to compare rates from other companies so always compare other rates. They are well trained in insurance sales which aids in selling service over price. Many people choose to use a exclusive agent mostly because of high brand loyalty rather than low price.
The following are exclusive insurance agents in Cheyenne who may provide you with comparison quotes.
- State Farm: Jay Poulignot
3348 Ridge Rd - Cheyenne, WY 82001 - (307) 638-0286 - View Map
- Anthony Ortiz - State Farm Insurance Agent
1822 Warren Ave - Cheyenne, WY 82001 - (307) 432-9195 - View Map
- Farmers Union Insurance
1114 Logan Ave # 100 - Cheyenne, WY 82001 - (307) 638-7770 - View Map
Independent Auto Insurance Agents
Agents that choose to be independent are not employed by one company so as a result can place your coverage through many companies enabling the ability to shop coverage around. If they find a cheaper price, they can switch companies in-house and you won't have to switch agencies.
If you are comparing auto insurance prices, you definitely need to contact at a minimum one independent agency in order to have the best price comparison. Many write coverage with smaller regional carriers that may provide cheaper auto insurance rates.
The following is a short list of independent agents in Cheyenne who can help you get comparison quotes.
- Filkey Agency
4617 Van Buren Ave - Cheyenne, WY 82009 - (307) 635-6325 - View Map
- American National Insurance: Ron Pinther
5015 Yellowstone Rd - Cheyenne, WY 82009 - (307) 634-7170 - View Map
- Wyoming Car Insurance
2603 Chestnut Dr - Cheyenne, WY 82001 - (307) 438-9768 - View Map
After you get satisfactory answers to your questions as well as a price you're happy with, it's possible that you found an insurance agent that is professional and can properly service your auto insurance policy.
Auto insurance is not optional in Wyoming
Even though it's not necessarily cheap to insure a Toyota in Cheyenne, insuring your vehicle is required by state law in Wyoming and it also provides benefits you may not be aware of.
- Almost all states have minimum liability requirements which means you are required to buy specific limits of liability insurance if you don't want to risk a ticket. In Wyoming these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you took out a loan on your Toyota, almost all lenders will make it mandatory that you buy full coverage to ensure loan repayment if the vehicle is totalled. If you cancel or allow the policy to lapse, the bank may buy a policy for your Toyota at a more expensive rate and force you to pay for the much more expensive policy.
- Auto insurance preserves both your assets and your vehicle. Insurance will also pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability coverage also covers legal expenses if you are sued as the result of your driving. If your Toyota gets damaged, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your car outweigh the cost, particularly if you ever have a claim. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $810 a year so you should quote and compare rates at least once a year to ensure rates are inline.
More effort can pay off
Insureds leave their current company for many reasons like unfair underwriting practices, high rates after DUI convictions, an unsatisfactory settlement offer or delays in responding to claim requests. It doesn't matter what your reason, choosing a new insurance company can be pretty painless.
Cost effective Toyota Tacoma insurance is definitely available on the web in addition to many Cheyenne insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. There are still a few companies who may not offer the ability to get quotes online and these smaller companies only sell through independent insurance agencies.
We've covered many ways to lower your Toyota Tacoma insurance prices in Cheyenne. The key concept to understand is the more rate comparisons you have, the better chance you'll have of finding affordable Cheyenne car insurance quotes. Drivers may even discover the best prices are with a small mutual company.
Additional information can be read below:
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- Who Has the Cheapest Wyoming Auto Insurance for 4x4 Vehicles? (FAQ)
- What Auto Insurance is Cheapest in Jackson, Wyoming? (FAQ)
- Understanding Car Crashes Video (iihs.org)
- Medical Payments Coverage (Liberty Mutual)
- Tread Depth and Tire Safety (State Farm)