Who Has the Cheapest Auto Insurance Quotes for a Toyota Highlander in Buffalo?

Buying affordable auto insurance for a Toyota Highlander in New York doesn’t take a ton of time, but it is dependent upon a very complex rating algorithm that uses multiple factors such as how you use your Highlander, whether or not you have filed claims in the past, and your driving record. Drivers in New York will pay around $705 a year to insure their Highlander, but that cost is calculated based on a 50-year-old single male driver with full physical damage coverage and $1,000 deductibles.

When estimating a car insurance rate like we just did, the issue is that you aren’t exactly 50 years old or even a male, you might be married instead of single, or maybe you don’t qualify for the same discounts. Just a very minor change in rating variables can make a large difference in rates.

Auto insurance requires individual risk assessment, so the best way to find the most affordable coverage for your Toyota is to just take the time to compare rates yourself. To cut your rates now, get a free quote and you can get rates from some of the best companies that offer coverage in New York.

View Toyota Highlander Insurance Rates

The specific model of Highlander impacts the cost of coverage, so the cost to insure a Highlander 2WD will be $108 lower than the cost to insure the high end Highlander Hybrid Limited 4WD trim level, as demonstrated by the prices below.

Toyota Highlander Insurance Rates in Buffalo, NY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Highlander 2WD $108 $184 $300 $18 $90 $700 $58
Highlander 4WD $122 $224 $300 $18 $90 $754 $63
Highlander Sport 4WD $122 $224 $300 $18 $90 $754 $63
Highlander SE 2WD $122 $224 $300 $18 $90 $754 $63
Highlander Sport 2WD $122 $224 $300 $18 $90 $754 $63
Highlander Limited 2WD $136 $264 $300 $18 $90 $808 $67
Highlander SE 4WD $136 $264 $300 $18 $90 $808 $67
Highlander Limited 4WD $136 $264 $300 $18 $90 $808 $67
Highlander Hybrid 4WD $136 $264 $300 $18 $90 $808 $67
Highlander Hybrid Limited 4WD $136 $264 $300 $18 $90 $808 $67
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New York minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rates do not factor in vehicle location which can affect premium rates considerably.

Best insurance in Buffalo

Insuring your vehicle with the highest-rated car insurance provider is difficult considering how many companies sell coverage in Buffalo. The company ratings shown next may help you pick which companies to look at comparing rates with.

These ratings only include the largest auto insurers in America, so smaller regional companies are not taken into consideration for this list. If you would like to check rates from these and other companies in New York, click here.

Top 10 Major Auto Insurance Providers Overall in Buffalo

  1. The General
  2. Mercury Insurance
  3. The Hartford
  4. Progressive
  5. Travelers
  6. State Farm
  7. Farmers Insurance
  8. Erie Insurance
  9. Safeco Insurance
  10. USAA

Rate difference between full and liability-only coverage

Lowering the price of insurance should be important to most people, and one way to buy cheaper insurance for a Toyota Highlander is to not insure for full coverage. The chart below shows the difference between annual premium costs with full coverage and liability only. The prices are based on no accidents or driving violations, $250 deductibles, single status, and no discounts are taken into consideration.

Averaged for all age groups, comp and collision coverage costs $1,539 per year more than carrying just liability coverage. That raises the question if full coverage is worth the money. There isn’t a steadfast formula of when to phase out physical damage coverage, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.

For example, let’s pretend your vehicle’s settlement value is $8,500 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $7,500 after paying your deductible. If it’s costing you more than $750 annually for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where dropping physical damage coverage is not recommended. If you haven’t satisfied your loan, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.

You may be paying too much for Highlander insurance

Buffalo, NY insurance rates are based on many factors which can substantially decrease or increase the cost of having a policy. Improving your credit rating, marrying your spouse, or getting caught speeding can produce rate changes that can cause some rates to be more affordable than others.

Not only may your situation change, but insurance companies change premium rates every year in order to protect their financial rating. Higher than normal claims may result in higher priced premiums, while a lower level of claims may produce more affordable Highlander insurance rates.

To illustrate this example, the graph below shows which companies have the cheapest car insurance in Buffalo, NY for a 30-year-old female driver with a good driving record, no prior claims, and good credit. If we look at prices based on her personal risk profile, USAA quotes the most affordable car insurance rates in Buffalo at $1,896 annually. This is $179 less than the average policy premium paid by New York drivers of $2,075. Erie, Progressive, Allstate, and Utica National are the remainder of the cheapest Buffalo, NY auto insurance companies.

The chart below compares rates after we give the driver from the first rate comparison a claim, a lower credit rating, and a speeding ticket. Since each insurance company has their own guidelines for establishing rates, comparing insurance quotes will most likely result in a new list of the cheapest companies as shown below.

Amica now has the best auto insurance rate in Buffalo, NY with MetLife, Preferred Mutual, Erie, and GEICO now being in the top five. This example demonstrates why it is critical to compare rates to find the most economical car insurance quotes for a Toyota Highlander.

Insurance prices are determined by many risk factors and change substantially, so the lowest-price company the last time you shopped your coverage around may now cost much more than other companies.