Toyota Camry Insurance

How the Popularity of the Toyota Camry Affects Insurance Rates

(A quick guide on finding the right insurance)

The Toyota Camry has been the best selling car in America for the last 15 years for good reason. It is well-designed, reliable, affordable and loaded with safety features.

The Camry is available in a variety of trim levels, including hybrid versions. It comes with a wide selection of safety features, and optional advanced safety equipment upgrades the safety factor even more making it a great family vehicle. 

All of the safety features and the fact that the Camry is a major seller help keep the cost of Toyota Camry insurance affordable. In fact, the average annual premium for Camry insurance is $1,254, which is significantly lower than the national average of $1,474.

An independent agent will help you insure your Camry with the coverages you need at a price you can afford. They will answer any questions you may have and ensure that you are getting all available discounts on your car insurance policy.

How Much Does Toyota Camry Insurance Cost?

Toyota Camry

The Toyota Camry is considered a safe, reliable, time-tested vehicle and the cost to insure it reflects those factors. The average annual premium for Camry insurance is $1,254, which is well below the national average of $1,474.

It’s possible that your premium will be above or below the average, depending on a variety of factors. A hybrid Camry can be more costly to insure, because its hybrid battery pack is very expensive to replace.

Another factor that has an impact on premiums is the uninsured driver rate in your state. While you have no control over drivers without insurance, they can push your premium up.

Unfortunately, nationwide, 12.6% of drivers out on the road are uninsured, and in some states, the rate is much higher. Oklahoma has a shocking 26% of drivers cruising around without coverage.

Insurance companies end up covering the cost of claims that involve uninsured drivers, so they pass that cost on to insured drivers via higher premiums.

One of the best ways to lower the cost of your Camry insurance is through discounts. All insurance companies offer different types of discounts. Depending on how many you qualify for, they can dramatically lower your premium. The following are some of the more common discounts offered:

  • Bundling: This is a big one. Purchasing your auto, home, life and renters insurance from the same insurance company should result in a big discount. The amount will vary by insurer, but 20% to 25% is not uncommon.
  • Safe car: The Toyota Camry is loaded with safety features and this can help lower your premium. Technology such as anti-lock brakes, airbags, and electronic stability control will impact your rates, as will advanced safety features like rearview cameras, blind spot monitoring and collision avoidance.
  • Paperless policy: If you forgo the paper on your policy and receive your renewal notices via email, your insurer should offer a discount. While not a huge amount, it all adds up.
  • Green vehicle: If you are driving a hybrid model you could be offered a green vehicle discount on your Camry hybrid insurance policy.
  • Safe driver: If you have gone three years or more (requirements vary by insurer) without a ticket, accident or claim, your insurance company may offer a discount.

A Trusted Choice agent will make sure that you get all of the discounts that you are qualified to receive, and may even point out discounts you didn’t know about. 

Toyota Camry Auto Theft and Safety Ratings

The Camry gets top safety marks. It received a five-star overall rating from the National Highway Traffic Safety Administration (NHTSA) and was also awarded the highest rank of “Good” by the Insurance Institute for Highway Safety (IIHS).

It's considered one of the safest vehicles on the road and comes with a wide variety of standard safety equipment, as well as a fantastic selection of advanced safety features. 

The Camry carries 10 airbags standard. along with Toyota’s Star Safety System, which includes anti-lock brakes, traction control, brake assist, vehicle stability control, electric brake force distribution and smart stop technology. 

Available advanced safety features such as a pre-collision system, which detects impending collisions and automatically brings the car to a stop, up the safety factor even higher, and can help push your premiums even lower. 

Insurers love technologies that prevent or reduce damage during a collision and are willing to offer lower rates to vehicles that offer them. 

Another factor that insurers look at is theft rates. Unfortunately, the Camry (both new and used) is a favorite of car thieves. This will sometimes push insurance rates up a bit. 

Car theft rates impact all Camry owners, regardless of whether they have ever been the victim of a car thief. National Insurance Crime Bureau statistics show that in 2015, the Camry was the 3rd most stolen new car. The 2014 Camry was the 5th most stolen used car with over 15,000 units being boosted. 

Numbers like that may impact insurance rates. Fortunately there are a number of things you can do to not only prevent your Camry from being stolen, but also help lower your premium.

  • Garage it: Insurance companies love it when you keep your vehicle in a garage. Then it is protected, not only from car thieves, but also from damaging weather. Most insurance companies will offer a discount if your car is kept in the garage.
  • Park it safely: You won’t be getting a discount for this one, but always park your vehicle in a safe spot. Highly visible spots that are well-lit are best when it comes to preventing vandalism and theft.
  • Alarm it: The Camry comes standard with an anti-theft system, but upgrading to Safety Connect, which is Toyota’s emergency assistance system, adds a vehicle locator. An aftermarket system or LoJack will usually result in a discount, while also keeping your car safe. 
  • Never leave it running: Warming up a cold car on a freezing day can be tempting, but it often results in theft. This is basically inviting a thief to take your car. In many states it's illegal to leave your car running while unattended.
  • Lock it: Always lock your vehicle. Car thieves will usually look for the easiest targets, and unlocked cars are often too tempting to pass up.

When it comes to theft or vandalism, you must be carrying comprehensive insurance for your loss to be covered. Comprehensive insurance will protect your car against vandalism, theft, flood, fire and damage caused by animals. 

Where To Find a Toyota Camry Car Insurance Policy

The Toyota Camry is a very popular vehicle with consumers and car thieves, so if you have one in the garage or are considering buying one, you will need to protect it with a compehensive Toyota Camry insurance policy. 

Our Trusted Choice agents will shop a variety of insurance companies to find the best policy for your needs and budget. They will also make sure that you are getting all of the various discounts that you are entitled to receive, which will lower your premium even further.

Contact an independent agent today.

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