Who Has the Cheapest Auto Insurance Rates for a Toyota Tacoma in Fort Wayne?

Buying competitive insurance for a Toyota Tacoma can be really easy, but it is dependent upon a lot of factors such as how far you commute, if you have a tendency to file claims, and any prior driving citations you have received. Drivers in Indiana pay around $844 per year for Tacoma insurance, but that cost is based upon a 30-year-old married female driver with both comprehensive and collision coverage and $250 deductibles.

There’s a high likelihood you may not be 30 years old (or even female), you might be single instead of married, or you just prefer to insure for liability only. Having different needs demonstrates why the only real way to find the cheapest coverage for your Toyota is to do the rate comparisons yourself. In just a few minutes you can get rates from some of the cheapest companies that offer coverage in Indiana.

Compare Toyota Tacoma Insurance Rates

Your vehicle’s trim level will influence the annual cost of coverage, so the price to insure a Tacoma 2WD trim level will cost $54 less than the cost to insure the higher-priced Tacoma Double Cab TRD Sport Package 4WD version, as shown in the table below.

Cost estimates assume married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Information does not factor in your specific Fort Wayne location which can revise premiums noticeably.

Establishing which company has the cheapest insurance rates for a Toyota Tacoma will take more work than just getting one or two price quotes.

Every auto insurer has a unique approach for establishing rates, so we’ll take a look at the overall cheapest insurance companies in Indiana. It’s a good idea to be aware that Fort Wayne, IN insurance rates are impacted by many things that can increase the price of coverage. Simply having another birthday, filing a claim, or getting a ticket for running a stop sign can trigger price changes that can cause some rates to be more affordable than competitors.

Cheap Insurance Rates for Your Tacoma

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Travelers normally has some of the cheapest car insurance rates in Fort Wayne at around $620 per year. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual are also some of the lowest-priced Fort Wayne, IN auto insurance companies.

As shown in the table above, if you currently have coverage with Cincinnati Insurance and switched to Travelers, you could see a yearly savings of in the vicinity of $38. Drivers with USAA might save as much as $47 a year, and Erie insureds might see rate reductions of $85 a year.

It’s important to note that these estimates are averaged across all drivers and vehicles in Indiana and are not factoring in an exact zip code location for a Toyota Tacoma. So the auto insurance company that fits you best may not even be in the top 36 companies shown above. That affirms the importance of why you need to compare as many prices as possible using your own individual information.

Comparison of full coverage and liability-only policies

Paying less for insurance is important to most people, and one of the easiest ways to find cheap insurance for a Toyota Tacoma is to only buy liability insurance. The example below visualizes the comparison of insurance premiums with full coverage and liability only. The information is based on no violations or accidents, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

Averaged out for all age groups, physical damage coverage costs $1,474 per year more than just buying liability insurance. That brings up the question if buying full coverage is a good investment. There is no definitive formula to stop buying full coverage, but there is a broad guideline. If the annual cost of coverage is about 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

Rate increases following a ticket or accident

The best way to enjoy the best insurance prices in Indiana for a Tacoma is to be a cautious driver and avoid at-fault accidents and violations. The example below illustrates how traffic citations and at-fault accidents can increase auto insurance costs for different age groups. The data assumes a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

In the previous example, the average cost of a car insurance policy per year with no accidents or violations is $1,717. Get written up for one speeding ticket and the average cost surges to $1,935, an increase of $217 each year. Then include one accident along with the one speeding ticket and the annual cost of insurance for a Toyota Tacoma goes up to an average of $2,550. That’s an increase of $833, or $69 per month, just for being a less-than-perfect driver!

The information below shows how choosing a deductible can change insurance costs when quoting cheap insurance for a Toyota Tacoma. The rate quotes are based on a married female driver, full physical damage coverage, and no policy discounts are applied.

The chart above illustrates that a 30-year-old driver could lower their car insurance rates by $278 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $418 by selecting a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could roll back prices as much as $590 each year just by choosing higher deductibles when buying full coverage.

If you do raise deductibles, it will be necessary to have plenty of money set aside to be able to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.