Trying to find the cheapest insurance for your Toyota Prius in Wyoming can normally be a lot of work, but you can learn these tips to make it easier.
There are more efficient ways to find car insurance online and you need to know the quickest way to price shop coverage for a Toyota and find the lowest possible price from both online companies and Cheyenne agents.
A recent survey discovered that over 70% of drivers have bought car insurance from the same company for at least the last four years, and almost half have never shopped around. With the average premium in Wyoming being $1,300, drivers could save themselves about 20% a year, but they just don't want to do a rate comparison.
If you have coverage now or just want to reduce your rates, you can use these techniques to cut your premiums without reducing coverage. Comparison shopping for affordable coverage in Cheyenne is not as difficult as people think. Shoppers just need to use the best way to compare insurance rates from multiple carriers.
Reducing your insurance rates is an easy way to save money. Drivers just need to take the time comparing price quotes provided by online insurance companies.
The companies shown below provide price comparisons in Wyoming. If the list has multiple companies, it's a good idea that you compare several of them to get the most affordable price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Wyoming minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Premium costs do not factor in Cheyenne location which can influence premiums considerably.
Cost comparison with and without full coverage
The illustration below visualizes the comparison of Toyota Prius car insurance costs with full physical damage coverage and with liability coverage only. The price estimates are based on no violations or claims, $1,000 deductibles, single female driver, and no discounts are factored in.
Are you wasting money paying for full coverage?
There isn't a written rule of when to phase out physical damage insurance, but there is a general guideline. If the yearly cost of comp and collision coverage is more than around 10% of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let's assume your Toyota Prius replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $2,000 after paying your deductible. If it's costing in excess of $200 a year for full coverage, then it might be time to buy liability only.
There are a few cases where dropping full coverage is not in your best interest. If you still owe a portion of the original loan, you are required to maintain full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Bad driving habits will cost you more
The diagram below shows how speeding tickets and at-fault accidents increase Toyota Prius car insurance costs for different categories of driver ages. The premiums assume a single male driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.
Cheaper Toyota Prius insurance quotes in Cheyenne
Some insurers don't necessarily list every disount available in an easy-to-find place, so the following list contains a few of the more common as well as some of the hidden discounts that you can inquire about if you buy Cheyenne car insurance online.
- Responsible Driver Discount - Drivers without accidents can save up to 40% or more on their Cheyenne car insurance quote as compared to drivers with claims.
- Savings for New Vehicles - Putting insurance coverage on a new Prius can save you some money compared to insuring an older model.
- Lower Rates for Military - Having a deployed family member could be rewarded with lower auto insurance rates.
- Student Driver Training - Reduce the cost of insurance for teen drivers by having them enroll in driver's education if it's offered in school.
- Discount for Life Insurance - Select companies reward you with better prices if you take out life insurance.
- Seat Belts Save - Using a seat belt and requiring all passengers to use their safety belts may be able to save a few bucks on medical payment and PIP coverage.
- Waiver for an Accident - This one isn't a discount, but a few companies such as State Farm and Progressive will turn a blind eye to one accident before they charge you more for coverage if you have no claims before the accident.
Don't be surprised that most credits do not apply to the overall cost of the policy. Some only apply to specific coverage prices like comprehensive or collision. Just because it seems like it's possible to get free car insurance, it doesn't quite work that way.
Some of the insurance companies that possibly offer most of these discounts include:
Check with every prospective company which discounts they offer. Some discounts might not apply in every state. To choose insurers that offer some of these discounts in Cheyenne, click here to view.
Why Smart Buyers Pay Less for Toyota Prius Insurance
An important part of buying insurance is that you know some of the factors that go into determining your premiums. If you have some idea of what determines premiums, this allows you to make educated decisions that can earn you big savings. Lots of factors are taken into consideration when pricing auto insurance. Some of the criteria are obvious such as your driving history, although some other factors are less obvious such as whether you are married or your financial responsibility.
Where you reside factors in - Living in a small town can be a good thing when buying car insurance. Less people means a lower chance of having an accident as well as less vandalism and auto theft. City drivers have to deal with more aggressive driving styles and more time behind the wheel. More time behind the wheel means more chance of being in an accident.
When should you file a claims? - If you file claims often, you can definitely plan on either a policy non-renewal or much higher rates. Companies in Wyoming award cheaper rates to policyholders who file claims infrequently. Your insurance policy is intended to be relied upon for more catastrophic claims.
Pay more for higher performance vehicles - The type of vehicle you need insurance for makes a huge difference in determining your rates. Due to the fact that the Toyota Prius falls in the compact car class, insuring your vehicle will cost the same to a little lower compared to average rates in Cheyenne. Lower performance four cylinder passenger cars generally receive the lowest base rates, but other factors influence the final cost greatly.
Liability limits on your policy - Liability coverage is the protection in the event that a jury decides you are liable for damages caused by your negligence. This coverage provides legal defense coverage which can be incredibly expensive. This coverage is very inexpensive compared to comp and collision, so drivers should buy more than the minimum limits required by law.
Vehicle theft costs us all - Owning a car that has an advanced theft prevention system can help lower your premiums. Systems that thwart thieves like GM's OnStar, tamper alarm systems and vehicle immobilizers all help stop vehicle theft.
Get hitched and get better rates - Being married may save some money when shopping for car insurance. Having a spouse translates into being more financially stable and statistics show being married results in fewer claims.
Commute or pleasure use - Driving more miles every year the more you'll pay to insure it. Most insurance companies apply a rate based on their usage. Vehicles that do not get driven very much cost less to insure than those used for commuting. An incorrectly rated Prius can result in significantly higher rates. It's always a good idea to double check that your car insurance policy shows the correct usage for each vehicle.
Are men or women drivers cheaper? - The statistics show that women are safer drivers than men. The data does not necessarily mean that men are worse drivers. Both genders tend to get into accidents at about the same rate, but men tend to have more serious accidents. In addition to higher claims, males also get more serious tickets such as driving while intoxicated (DWI) or driving recklessly. Males from age 16 to 21 are several times more likely to be in an accident and therefore are the most expensive to insure.
Claims statistics for a Toyota Prius - Insurance companies analyze claim trends for every vehicle when setting rates for each model. Vehicles that historically have high amounts or severity of claims will have higher premium rates.
The table below outlines the historical insurance loss data for Toyota Prius vehicles. For each type of coverage, the loss probability for all vehicles averaged together is a value of 100. Percentage values below 100 suggest a positive loss record, while values that are above 100 show a trend for more claims or an increased likelihood of larger losses.
Toyota Prius Insurance Claim Statistics
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Prius C Hybrid||113||100||87||120||121||113|
|Toyota Prius Hybrid||101||97||98||103||118||103|
|Toyota Prius Plug-in Hybrid||98||89||87||106||114||93|
|Toyota Prius V Hybrid||94||86||88||88||94||97|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance agencies near you
Some people would rather go talk to an agent and that is just fine! Most agents can point out coverage gaps and give you someone to call. One of the great benefits of getting free rate quotes online is that you can obtain lower rates but also keep your business local. And buying from neighborhood agents is still important in Cheyenne.
To help locate an agent, after submitting this quick form, your insurance data is immediately sent to agents in your area who can give free rate quotes for your coverage. It makes it easy because there is no need to do any legwork as quotes are delivered to you directly. If you need to get a comparison quote for a specific company, you just need to find their quoting web page and fill out their quote form.
When searching for local Cheyenne agents, you need to know there are two types of agencies to choose from. Car insurance agents in Cheyenne can be classified as either independent (non-exclusive) or exclusive. Either one can handle car insurance, but it's good to learn the differences since it could factor into your agent selection.
Independent Agencies or Brokers
Agents that elect to be independent are appointed with more than one company and that allows them to write policies with a variety of different insurance companies and get you the best rates possible. If you are not satisfied with one company, your agent can just switch to a different company which is easy for the insured. When comparing rate quotes, we highly recommend that you get rate quotes from several independent agencies for the best price selection. Most have the option of insuring with smaller regional carriers that many times have cheaper rates.
Shown below is a list of independent agents in Cheyenne that can possibly get you free car insurance quotes.
- American National Insurance: Ron Pinther
5015 Yellowstone Rd - Cheyenne, WY 82009 - (307) 634-7170 - View Map
- Burns Insurance
237 Storey Blvd #200 - Cheyenne, WY 82009 - (307) 634-5757 - View Map
- Filkey Agency
4617 Van Buren Ave - Cheyenne, WY 82009 - (307) 635-6325 - View Map
Exclusive Car Insurance Agencies
Agents that elect to be exclusive can usually just insure with one company and some examples include Allstate, State Farm and Farmers Insurance. These agents are unable to provide prices from multiple companies so they have to upsell other benefits. They are usually well trained on the products they sell which helps offset the inability to provide other markets. Consumers sometimes buy from the same agent for years partially due to the prominent brand name and the convenience of having all coverages with one company.
Shown below is a short list of exclusive insurance agents in Cheyenne who can help you get comparison quotes.
- Farmers Insurance - James Creel
601 Randall Ave - Cheyenne, WY 82001 - (307) 632-7974 - View Map
- Farmers Insurance - Jeffrey McKay
3553 Ridge Rd - Cheyenne, WY 82001 - (307) 634-0843 - View Map
- State Farm : Suzanne Cork
4515 E Pershing Blvd F - Cheyenne, WY 82001 - (307) 635-3773 - View Map
Deciding on an car insurance agent is decision based upon more than just a cheap price quote. Ask your prospective agent these questions:
- Does the company have a solid financial rating?
- How long has their agency been open in Cheyenne?
- Are they in the agency full-time?
- Does the agency have a positive business rating?
- What insurance companies do they recommend if they are an independent agent?
Don't give up on cheaper rates
Consumers switch companies for any number of reasons including lack of trust in their agent, high prices, an unsatisfactory settlement offer and even policy non-renewal. It doesn't matter why you want to switch finding a great new company can be easier than you think.
You just learned many ways to get a better price on Toyota Prius insurance in Cheyenne. It's most important to understand that the more you quote Cheyenne car insurance, the better your comparison will be. You may even discover the best price on car insurance is with some of the smallest insurance companies.
As you restructure your insurance plan, you should never buy less coverage just to save a little money. There have been many situations where someone sacrificed full coverage and found out when filing a claim that they should have had better coverage. Your goal should be to get the best coverage possible for the lowest price, but do not skimp to save money.
To read more, feel free to visit these articles:
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Who Has Cheap Auto Insurance for 19 Year Olds in Wyoming? (FAQ)
- How Much are Wyoming Car Insurance Rates for Drivers Under 21? (FAQ)
- Who Has the Cheapest Wyoming Auto Insurance for Uninsured Drivers? (FAQ)
- Which Company has the Cheapest Car Insurance in Lander, WY? (FAQ)
- Who Has Cheap Wyoming Auto Insurance for Infrequent Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance for Teenagers in Wyoming? (FAQ)
- What Car Insurance is Cheapest for Drivers Over Age 60 in Wyoming? (FAQ)
- Vehicle Insurance in the U.S. (Wikipedia)
- Prepare your Teens for Safe Driving (InsureUonline.org)