Buying cheaper coverage for a Toyota Camry relies on a complex formula that considers things such as whether you use your Camry for business use, whether or not you have prior claims, and your driving record. Drivers will pay on average $636 each year to insure their Camry, but that is an approximation based upon a 50-year-old single female driver with full comprehensive and collision coverage and $1,000 deductibles.
When estimating a car insurance rate like we just did, the issue is that you are not 50 years old and maybe not even female, maybe you are married instead of single, or maybe you want more liability coverage than is required by law in Alaska. There is no perfect policy for every driver, so the best way to find cheap insurance rates for your Toyota is to just compare rates yourself. Rate quotes are easy and you can get rates from the cheapest companies that insure vehicles in Alaska.
The specific trim level can impact the cost of insurance, so the rate you pay to insure a Camry LE model will be $108 less expensive the cost to insure the more well-appointed Camry Hybrid version, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rate information does not factor in vehicle garaging location which can decrease or increase price quotes considerably.
Deciding which companies quote the cheapest insurance rates for a Toyota Camry may require more time in order to find the best policy. Each auto insurance company uses different criteria for setting rates, so to begin we’ll rank the insurance companies with the overall best prices in Alaska.
It’s important that readers know that Alaska insurance rates are calculated based on many things that control the policy premium. Simply turning a year older, filing a claim, or having a fender bender may prompt premium changes resulting in some rates now being much cheaper than others.
Cheapest Insurance Rates for Your Camry
Umialik offers some of the cheapest car insurance rates in Anchorage at around $874 a year. This is $669 less than the average policy premium paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are also some of the most economical Anchorage, AK auto insurance companies.
As shown in the table above, if you currently have coverage with Progressive and switched to USAA, you could earn an annual premium reduction of in the vicinity of $271. Insureds with GEICO could save as much as $1,023 a year, and Allstate customers might lower prices by up to $1,388 a year.
These prices are averaged for all drivers and vehicles and and are not calculated with a vehicle location for a Toyota Camry. So the company that has the cheapest price for you may not even be in the list above. That affirms the importance of why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
Cost of full coverage in Anchorage
Reducing premiums for insurance is important to most people, and one of the best ways to find cheaper insurance for a Toyota Camry is to buy liability only. The information below illustrates the difference between insurance costs when comparing full coverage to liability only. The information is based on no claims or driving citations, $1,000 deductibles, drivers are not married, and no other discounts are factored in.
As an average, full coverage costs an extra $1,357 per year over having just liability coverage. Many of you may wonder if paying for full coverage is a waste of money. There isn’t a steadfast formula that is best for determining when to drop physical damage coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is about 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.
There are some situations where removing full coverage is not advised. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
Get discounts on Anchorage insurance rates
Insurance providers that sell policies for a Toyota Camry may also offer policy discounts that may potentially lower prices by as much as 25% or more if you meet specific criteria. A list of insurance companies and some of their more popular discounts are detailed below.
- Farm Bureau offers discounts for 55 and retired, youthful driver, multi-vehicle, safe driver, multi-policy, good student, and driver training.
- State Farm may include discounts for good driver, Drive Safe & Save, student away at school, good student, multiple policy, safe vehicle, and driver’s education.
- Progressive includes discounts for multi-vehicle, online signing, online quote discount, multi-policy, good student, and continuous coverage.
- Allstate has savings for auto/life discount, good payer, multi-policy, EZ pay plan discount, eSmart discount, and safe driver.
- Nationwide policyholders can earn discounts including Farm Bureau membership, defensive driving, multi-policy, good student, and business or organization.
- MetLife offers premium reductions for claim-free, multi-policy, good student, defensive driver, accident-free, and good driver.
The example below shows the difference between annual premium costs with and without discounts. The costs are based on a female driver, no driving violations, no at-fault accidents, Alaska state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with accident-free, marriage, multiple policy, vehicle safety, anti-theft, and passive restraint discounts applied. When drivers take advantage of discounts, theaverage amount saved on insurance for a Toyota Camry is 28% or $425.
How to find cheaper car insurance for a Toyota Camry
It’s not impossible to find cheaper rates, and here are some penny-pinching suggestions that can help drivers get cheaper auto insurance.
- Better credit scores save money
- Remove physical damage coverage on older vehicles
- Prevent price hikes by avoiding at-fault accidents
- Multi-policy discounts save money
- Buy a car with high safety ratings
- Shop around for cheaper rates regularly
That last idea is very necessary, as was affirmed in this write-up. Prices charged by auto insurers in Anchorage fluctuate constantly, so you should be ready to buy a different policy if a lower-cost policy is available. Having a favorite company is fine, but it’s not a great idea if that inflexibility results in costing you potentially thousands of dollars a year. Now is a great time to compare rates and find cheaper car insurance for a Toyota Camry.
The insurance agents in Anchorage listed below can aid you in deciding which auto insurance coverages would be the best in your situation, since some people have coverage questions and would like to have some professional guidance when shopping around for cheaper insurance for a Toyota Camry. It can be hard to find the cheapest rate yourself, so a professional agent can add satisfaction knowing you have adequate protection in case of an accident or claim.
To locate an Anchorage auto insurance agent by location nearest to you, click the link at the bottom.
- Insurance Group Of Alaska
505 W Northern Lights Blvd #216 – Anchorage, AK 99503 – (907) 276-9600
- State Farm: Amy Jones
111 W 6th Ave – Anchorage, AK 99501 – (907) 274-2060
- Gary Annis – State Farm Insurance Agent
3330 C St #101 – Anchorage, AK 99503 – (907) 563-1960
- Marsh Mc Lennan Agency
1031 W 4th Ave #400 – Anchorage, AK 99501 – (907) 276-5617
- Safeco Insurance
500 W 36th Ave #210 – Anchorage, AK 99503 – (907) 770-2400