Compare Toyota Prius Insurance Rates in Buffalo

Everyone knows that car insurance companies don’t want you to look for cheaper rates. Consumers who compare other rates are highly likely to move their business because there is a good probability of getting low-cost coverage. A study showed that drivers who shopped around annually saved on average $865 annually compared to other drivers who never shopped around for better prices.

If finding the best price on Toyota Prius insurance in Buffalo is the reason you’re reading this, understanding the best ways to shop for insurance rates can help you succeed in finding affordable rates.

It takes a little time, but the best way to find more affordable auto insurance rates is to regularly compare price quotes from different companies that insure vehicles in Buffalo.

First, it will benefit you to learn about the coverage provided by your policy and the things you can change to prevent high rates. Many things that cause rate increases such as at-fault accidents, speeding tickets, and a lousy credit rating can be eliminated by making minor changes in your lifestyle.

Second, request price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from a single company like GEICO or State Farm, while independent agencies can quote prices from multiple sources.

Third, compare the quotes to your current policy premium to determine if you can save on Prius insurance. If you find a lower rate and make a switch, make sure coverage is continuous and does not lapse.

One tip to remember is to try to use the same liability limits and deductibles on every quote and and to get price estimates from every company you can. Doing this helps ensure the most accurate price comparison and a thorough price selection.

If you currently have car insurance, you will definitely be able to find better prices using this information. Locating the best rates in Buffalo is quite easy if you know the best way to do it. But New York car owners do need to understand how big insurance companies charge you for coverage because rates fluctuate considerably.

When quoting auto insurance, remember that comparing a large number of companies gives you a better chance of getting the best price.

The auto insurance companies shown below offer quotes in New York. In order to find cheap auto insurance in New York, it’s a good idea that you get prices from several of them to get a more complete price comparison.

Discounts mean cheaper rates for Toyota Prius insurance in Buffalo

Companies offering auto insurance don’t always advertise the entire discount list very clearly, so the below list has both the well known as well as the least known ways to save on insurance.

• Own a Home – Just being a homeowner can get you a discount because it is proof of financial responsibility.
• College Student Discount – Children who live away from home at college and don’t have a car may be able to be covered for less.
• No Accidents – Insureds with no claims or accidents can earn big discounts compared to bad drivers.
• Anti-theft System – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and that can save you a little bit as well.
• New Car Discount – Insuring a vehicle that is new can get you a discount because new model year vehicles have to meet stringent safety requirements.
• Anti-lock Brake System – Cars and trucks with anti-lock braking systems can reduce accidents and the ABS can save up to 10%.
• Accident Forgiveness – This isn’t a discount exactly, but companies like GEICO, State Farm, and Progressive will let one accident slide without the usual rate increase with the catch being you have to be claim-free prior to being involved in the accident.
• Policy Bundle Discount – If you can combine your home and auto policy with the same company you could earn a discount of over 10 percent off each policy depending on the company.
• Low Mileage Discounts – Low mileage vehicles can qualify you for better rates on cars that stay parked.
• Onboard Data Collection – Drivers who elect to allow driving data collection to analyze vehicle usage by using a telematic data system such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if they exhibit good driving behavior.

We need to note that some of the credits will not apply to the entire policy premium. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like you can get free auto insurance, companies wouldn’t make money that way.

The illustration below shows the difference between Toyota Prius auto insurance rates with and without discounts. The data is based on a male driver, no claims or driving violations, New York state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, claim-free, multi-policy, multi-car, and homeowner discounts applied.

Larger insurance companies and their offered discounts are outlined below.

• State Farm includes discounts for passive restraint, driver’s education, accident-free, good driver, Drive Safe & Save, multiple autos, and defensive driving training.
• Progressive policyholders can earn discounts including multi-vehicle, multi-policy, online quote discount, homeowner, and good student.
• Travelers may have discounts that include hybrid/electric vehicle, student away at school, new car, good student, home ownership, IntelliDrive, and early quote.
• American Family may include discounts for defensive driver, Steer into Savings, good student, early bird, good driver, accident-free, and bundled insurance.
• Liberty Mutual has discounts for exclusive group savings, safety features, newly married, new graduate, and multi-car.

When getting a coverage quote, ask all companies you are considering how many discounts you can get. Some of the earlier mentioned discounts may not apply everywhere. To locate insurers who offer insurance discounts in Buffalo, click this link.

Insurance statistics for a Toyota Prius

The rate information below outlines detailed analysis of rate quotes for Toyota Prius models. Being more informed about how prices are figured is important for you to make decisions on which insurance to purchase.

Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Estimates do not factor in Buffalo location which can decrease or increase price quotes greatly.

Should you raise deductibles?

One of the most common insurance questions is at what level do you set your deductibles. The comparisons below determine how much more you’ll pay between high and low deductibles. The first pricing table uses a $100 deductible for physical damage and the second price chart uses a $1,000 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Premium costs do not factor in zip code location which can affect prices considerably.

Based on the data above, we can derive that using a $100 deductible will cost you roughly $28 more each month or $336 annually than selecting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you average more than 32 months between claim filings, you would probably be better off if you decide on a higher deductible.

The illustration below demonstrates how deductible levels and can affect Toyota Prius annual premium costs for different insured age categories. The prices are based on a single female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

Liability only or full coverage

The example below shows the difference between Toyota Prius insurance premiums with and without physical damage coverage. The premium estimates are based on no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are applied.

Guidelines for eliminating full coverage

There isn’t a written rule that works best for making the decision to drop comp and collision coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

For example, let’s assume your Toyota Prius replacement cost is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after paying your deductible. If it’s costing you more than $300 a year for your policy with full coverage, then you might want to think about dropping full coverage.

There are some conditions where buying only liability insurance is not recommended. If you still have a lienholder on your title, you are required to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not buy liability only.

Insurance is available from local agents

Some people just want to buy from a local agent and there is nothing wrong with that. The best thing about comparing insurance prices online is that you can obtain cheap insurance quotes but still work with a licensed agent. Buying from neighborhood insurance agencies is important particularly in Buffalo.

Upon completion of this form (opens in new window), the quote information is emailed to agents in your area that give free quotes and help you find cheaper coverage. You don’t have to search for any insurance agencies because quoted prices will be sent immediately to you. You can most likely find cheaper rates and a licensed agent to work with. If you have a need to compare rates from a specific company, you would need to go to their quote page and submit a quote form there.

If you want to buy insurance from a local insurance agency, it’s helpful to know the different agency structures and how they can quote your rates. Agencies in Buffalo are classified as either exclusive or independent agents depending on their company appointments.

Independent Insurance Agencies or Brokers

Independent agents do not write with just one company so they can insure your vehicles through many companies and find the cheapest rate. If they quote lower rates, the business is moved internally which makes it simple for you.

When shopping rates, you will definitely want to include price quotes from independent agents to ensure the widest selection of prices.

Below are independent agencies in Buffalo that may be able to give free price quotes.

More Buffalo agents

Exclusive Insurance Agents

These type of agents write business for a single company such as Allstate, AAA, Farmers Insurance, and State Farm. Exclusive agents cannot provide prices from multiple companies so always compare other rates. These agents are very knowledgeable on the products they sell which helps them sell insurance even at higher premiums.

Below is a list of exclusive agents in Buffalo that can give you rate quotes.

More Buffalo agents

Choosing the best insurance agent should include more criteria than just the quoted price. Agents should be asked these questions:

• Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
• How many years have they been established?
• When do they do policy reviews?
• Are there any extra charges for paying monthly?
• Can you choose the body shop in case repairs are needed?
• How long have they worked with personal auto insurance coverage?
• By raising physical damage deductibles, how much would you save?
• Does the company have a local claim office in Buffalo?

After getting satisfactory answers to any questions you may have as well as a affordable price, you may have found a car insurance agent that can be relied on to properly service your insurance policy.

Auto insurance can be complex

When it comes to your policy, there is no one size fits all plan. You are unique and your policy should reflect that.
For instance, these questions can aid in determining if your situation will benefit from professional help.

• When would I need rental car insurance?
• How much liability coverage do I need in New York?
• Is my son or daughter covered when driving my car?
• Is there a penalty for late payment?
• Do I have coverage if my license is suspended?
• If my car is totaled with they pay enough to replace it?
• Why am I required to buy high-risk coverage?
• I have health insurance so do I need medical payments coverage?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an agent. If you don’t have a local agent, simply complete this short form or click here for a list of auto insurance companies in your area.

Find Lower-cost Car Insurance with These Tips

Consumers need to have an understanding of the rating factors that help calculate your car insurance rates. If you have some idea of what influences your rates, this allows you to make educated decisions that can help you get better car insurance rates.

The factors shown below are some of the major factors utilized by car insurance companies to help set your rate level.

• Bundling policies can get discounts – Many car insurance companies provide discounts to insureds that purchase more than one policy. It’s known as a multi-policy discount. Even though this discount sounds good, it’s always a smart idea to compare other company rates to guarantee you are still saving the most.

• Vehicle risk influences costs – The type of car or truck you need to insure makes a huge difference in your car insurance bill. Lower performance four cylinder passenger models usually have the lowest premiums, but there are many factors that impact the final cost.

  The next chart uses these assumptions: married male driver age 30, full coverage with $250 deductibles, and no discounts or violations. The chart compares Toyota Prius rates compared to other vehicles that have different performance rating factors.

• Driving citations can increase costs – Drivers who don’t get tickets receive lower rates than bad drivers. Only having one chargeable violation may cause rates to rise to the point where it’s not affordable. Drivers who get severe citations like DUI or willful reckless driving may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to prevent their license from being revoked.

  The chart below illustrates how violations and accident claims can increase Toyota Prius auto insurance rates for different age groups. The information is based on a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.

• Liability insurance safeguards assets – A critical coverage on your policy, liability insurance kicks in in the event that you are found liable for causing damage or personal injury in an accident. Your policy’s liability insurance provides legal defense coverage which can be incredibly expensive. This coverage is relatively inexpensive compared to other policy coverages, so insureds should have plenty of protection for their assets.
• Does your employer raise your rates? – Do you work in a high-stress field? Careers such as lawyers, airline pilots, and medical professionals usually pay the highest rates in part from stressful work requirements and lots of time spent at work. Conversely, careers like farmers, historians and the unemployed pay the least.

• Toyota Prius historical loss data – Insurers include the past claim trends for vehicles to help determine prices. Models that tend to have higher loss trends will have higher rates. The table shown below demonstrates the historical insurance loss data for Toyota Prius vehicles.

  For each type of coverage, the statistical loss for all vehicles as a whole equals 100. Values that are 100 or less suggest a better than average loss history, while numbers that are greater than 100 indicate more frequent losses or an increased chance of larger losses than average.

  
  

  Toyota Prius Insurance Claim Statistics

  Specific Toyota 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

  BETTER

  AVERAGE

  WORSE

  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Three main reasons to buy auto insurance

Despite the high cost of buying insurance for a Toyota Prius in Buffalo, buying auto insurance is most likely required but also gives you several important benefits.

First, most states have minimum liability requirements which means you are required to carry specific limits of liability insurance if you don’t want to risk a ticket. In New York these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you bought your car with a loan, almost all lenders will require that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may insure your Toyota at an extremely high rate and require you to fork over the higher price.

Third, insurance protects your Toyota and your assets. Insurance will pay for most medical and hospital costs that are the result of an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if you are sued as the result of your driving. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to repair the damage.

The benefits of insuring your car are definitely more than the cost, especially with large liability claims. According to a survey of 1,000 drivers, the average driver is wasting up to $850 per year so compare quotes from several companies at every renewal to make sure the price is not too high.

In the end, you can save money

You just learned many ways to reduce Toyota Prius insurance prices online in Buffalo. The most important thing to understand is the more rate comparisons you have, the higher your chance of finding affordable Buffalo car insurance quotes. Consumers may even find the lowest prices come from a lesser-known regional company. Smaller companies can often provide lower rates in certain areas than their larger competitors like GEICO and State Farm.

Budget-conscious Toyota Prius insurance can be purchased from both online companies and also from your neighborhood Buffalo agents, so get free Buffalo car insurance quotes from both of them to have the best rate selection. Some companies may not provide online price quotes and most of the time these small, regional companies only sell coverage through independent agents.

Additional resources

• Senior Drivers (Insurance Information Institute)
• Who Has Affordable Car Insurance Rates for Felons in Buffalo? (FAQ)
• How Much is Car Insurance for First-time Drivers in Buffalo? (FAQ)
• What does Personal Injury Protection (PIP) Cover? (Allstate)
• Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
• Information for Teen Drivers (GEICO)
• Air Bags: Potential Dangers to Your Children (Insurance Information Institute)