Toyota Corolla insurance image courtesy of QuoteInspector.com
Buying cheap coverage for a Toyota Corolla in Massachusetts doesn't take too much effort, but it relies on a fairly complex equation with a lot of factors such as how far you commute, the likelihood of vehicle theft, and any prior driving offenses you have. Drivers pay approximately $1,129 annually for Corolla insurance, but that amount is calculated using a 30-year-old single male driver with both comprehensive and collision coverage and $250 deductibles.
The issue with using an average estimated rate is the likelihood you are not 30 years old and maybe not even male, maybe you are married instead of single, or maybe you have a teen driver on your policy that needs to be considered. There is no one cookie-cutter policy that works for everyone, so the only way to find the cheapest insurance price for your Toyota is to just take the time to compare rates yourself.
The trim level of your Corolla will have an impact the annual cost of coverage, so the price to insure a Corolla LE trim level will be $38 lower than the cost to insure the more well-appointed Corolla XRS model, as demonstrated by the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Massachusetts minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Rate information does not factor in specific zip code location which can alter coverage rates considerably.
Buying coverage from the best car insurance company can be difficult considering how many different companies sell coverage in Massachusetts. The information in the next section could help you select which car insurance companies to look at comparing rates from.
These rankings are for major nationwide insurance companies, so companies with more of a regional focus are not factored into this list. To get price quotes from the insurers below and more, follow this link.
Top 10 Large Car Insurance Companies Overall in Boston
- The Hartford
- State Farm
- Farmers Insurance
- Safeco Insurance
- Liberty Mutual
- AAA Insurance
Top 10 Large Car Insurance Companies in Boston Ranked by A.M. Best Rating
- USAA - A++
- Travelers - A++
- State Farm - A++
- GEICO - A++
- Allstate - A+
- The Hartford - A+
- Progressive - A+
- Esurance - A+
- Safeco Insurance - A
- Farmers Insurance - A
Full coverage or liability only
Finding cheaper car insurance should be important to most vehicle owners, and one of the fastest ways to lower the cost of insurance for a Toyota Corolla is to not pay for full coverage. The information below shows the comparison of car insurance rates with full coverage compared to only the Massachusetts minimum liability coverage. The rate quotes are based on no violations or claims, $1,000 deductibles, drivers are single, and no additional discounts are factored in.
If all age groups are averaged, comp and collision coverage costs an extra $1,751 per year more than just buying liability only. That is a large expense which might make you wonder if buying full coverage is worth the money. There is no exact formula of when to stop paying for full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let's pretend your vehicle's settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $3,000 after the policy deductible has been paid. If it's costing in excess of $300 annually to have full coverage, then it might be time to consider dropping full coverage.
How to get discounts on Boston auto insurance
Car insurance companies that offer cheap quotes for a Toyota Corolla could also offer policy discounts that can reduce rates by as much as 35% or more if you meet certain criteria. Large car insurance companies and some of their more popular discounts include:
- Farm Bureau offers premium reductions for good student, renewal discount, 55 and retired, youthful driver, safe driver, and multi-vehicle.
- MetLife includes discounts for good driver, claim-free, accident-free, defensive driver, good student, multi-policy
- Progressive policyholders can earn discounts including online signing, online quote discount, multi-policy, continuous coverage, multi-vehicle, and good student.
- AAA may offer discounts for pay-in-full, multi-car, education and occupation, good driver, and anti-theft.
- American Family may include discounts for Steer into Savings, good driver, multi-vehicle, good student, early bird, and mySafetyValet.
- GEICO has discounts for anti-theft, federal employee, five-year accident-free, military active duty, anti-lock brakes, and air bags.
- State Farm discounts include multiple policy, Drive Safe & Save, defensive driving training, multiple autos, and Steer Clear safe driver discount.
The chart below compares insurance prices with and without some available policy discounts. The price estimates are based on a female driver, no claims or driving violations, Massachusetts state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with vehicle safety, multiple vehicle, passive restraint, safe-driver, homeowner, and anti-theft discounts applied. When these discounts are applied, theamount saved on car insurance for a Toyota Corolla is 28% or $523.
The example below demonstrates how choosing different deductibles can affect insurance premiums when trying to find cheap insurance for a Toyota Corolla. The rates are based on a single female driver, full coverage, and no additional discounts are factored in.
The data above shows that a 30-year-old driver could pocket $412 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $620 by using a $1,000 deductible. Even younger drivers, like the Age 20 category, can save up to $920 or even more just by choosing higher deductibles when buying full coverage.
When insureds make the decision to increase the deductibles on their policy, it will be required to have additional savings on hand to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
The agents below can probably help you decide which coverages and limits you need, as many people would rather have the advice of a professional agent when shopping for the best coverage for a Toyota Corolla. It can be difficult to do it yourself, and professional agents can provide satisfaction knowing you have decent coverage if you have a claim. To locate an agency in your neighborhood, click the button at the bottom of the list.
- Marsh and McLennan Agency
500 Boylston St #300 - Boston, MA 02116 - (617) 587-2300
- Flynn Insurance Agency, Inc.
30 Park St - Boston, MA 02129 - (617) 242-1200
- Warren Insurance
764 Blue Hill Avenue - Boston, MA 02124 - (617) 265-1414