If you want to save the most money, the best way to get low-cost Toyota Highlander insurance in Fort Wayne is to start comparing prices yearly from insurers who can sell car insurance in Indiana. You can compare prices by completing these steps.
- Get a basic knowledge of individual coverages and the factors you can control to keep rates down. Many policy risk factors that drive up the price like at-fault accidents and poor credit rating can be improved by making small lifestyle or driving habit changes. Continue reading for additional tips to get low prices and get bigger discounts that may have been overlooked.
- Request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO and State Farm, while independent agents can provide rate quotes for a wide range of insurance providers.
- Compare the new quotes to your existing coverage to see if a cheaper rate is available in Fort Wayne. If you find better rates and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
- Notify your agent or company of your intent to cancel your existing policy. Submit the application along with any required down payment to your new carrier. Immediately upon receiving it, put the certificate of insurance in an accessible location in your vehicle.
One key aspect when comparing rates is to make sure you’re comparing the same amount of coverage on every price quote and to quote with every company you can. This helps ensure the most accurate price comparison and the best rate selection.
A recent study showed that the vast majority of drivers have bought auto insurance from the same company for well over three years, and almost half have never taken the time to shop around. Most drivers in the U.S. could pocket as much as 47% a year just by getting comparison quotes, but they assume it’s a waste of time to compare rates and save money.
When comparison shopping, comparing more prices gives you a better chance of getting the best rates. Some insurance companies are not set up to provide rate quotes online, so you need to compare quotes from them, too.
The companies shown below have been selected to offer quotes in Indiana. If you want to find the best cheap auto insurance in Indiana, we suggest you get price quotes from several of them to get the cheapest price.
Detailed insurance information
The information shown next covers estimates of prices for Toyota Highlander models. Learning a little about how auto insurance prices are determined can be useful when making informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Highlander 2WD | $188 | $304 | $270 | $16 | $80 | $858 | $72 |
| Highlander 4WD | $212 | $370 | $270 | $16 | $80 | $948 | $79 |
| Highlander Sport 4WD | $212 | $370 | $270 | $16 | $80 | $948 | $79 |
| Highlander SE 2WD | $212 | $370 | $270 | $16 | $80 | $948 | $79 |
| Highlander Sport 2WD | $212 | $370 | $270 | $16 | $80 | $948 | $79 |
| Highlander Limited 2WD | $236 | $436 | $270 | $16 | $80 | $1,038 | $87 |
| Highlander SE 4WD | $236 | $436 | $270 | $16 | $80 | $1,038 | $87 |
| Highlander Limited 4WD | $236 | $436 | $270 | $16 | $80 | $1,038 | $87 |
| Highlander Hybrid 4WD | $236 | $436 | $270 | $16 | $80 | $1,038 | $87 |
| Highlander Hybrid Limited 4WD | $236 | $436 | $270 | $16 | $80 | $1,038 | $87 |
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Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Premium amounts do not factor in garaging location in Fort Wayne which can influence premiums noticeably.
Liability only or full coverage
The chart below shows the difference between Toyota Highlander insurance costs with full coverage compared to only the Indiana minimum liability coverage. The rates are based on no claims or driving citations, $100 deductibles, single marital status, and no discounts are factored in.
Should you pay for full coverage or liability only?
There is no written rule for excluding physical damage insurance, but there is a general convention. If the yearly cost of full coverage is 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s assume your Toyota Highlander claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after you pay the deductible. If it’s costing you more than $400 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
There are some conditions where dropping physical damage coverage is not advised. If you haven’t paid off your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Toyota Highlander Insurance Prices Can Be Cheaper
When buying insurance it’s important to understand a few of the rating criteria that help determine your insurance rates. If you have a feel for what determines base rates, this enables informed choices that can earn you much lower annual insurance costs.
Gender and car insurance premiums – Statistics have proven women are more cautious behind the wheel. Now that doesn’t mean men are WORSE drivers than women. Both sexes get in auto accidents in similar percentages, but males have accidents that have higher claims. Not only are claims higher, but men have more aggressive citations such as reckless driving.
The diagram below shows the comparison of Toyota Highlander premium costs for male and female drivers. The information is based on no accidents or driving violations, comp and collision included, $1,000 deductibles, single marital status, and no policy discounts are applied.
What type of vehicle do you drive? – The make and model of the car you are buying insurance for makes a substantial difference in your car insurance bill. Low performance passenger vehicles usually are quite affordable to insure, but the final cost of insurance is determined by many other factors.
The data below uses these assumptions: married female driver age 50, full coverage with $500 deductibles, and no discounts or violations. The chart compares Toyota Highlander rates compared to other models of vehicles that have different performance rating factors.
Alarm systems save money – Purchasing a vehicle with a theft deterrent system can get you a discount on your insurance. Anti-theft devices such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping vehicle theft.
Cheaper insurance rates for prior coverage – Driving without insurance is a big no-no and you may have a hard time finding new coverage because you let your insurance lapse for non-payment. And not only will your rates increase, the inability to provide proof of insurance will get you a revoked license or a big fine.
Insurance loss statistics a Toyota Highlander – Insurers analyze the history of losses when determining insurance costs. Vehicles that have higher losses will have a higher cost to insure.
The data below shows the insurance loss data used by companies for Toyota Highlander vehicles. For each policy coverage type, the claim amount for all vehicles, regardless of make or model, is represented as 100. Percentage numbers below 100 mean the vehicle has better than average losses, while values that are above 100 indicate higher probability of having a loss or a tendency for claims to be larger.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Highlander 4dr 2WD | 88 | 82 | 94 | 94 | 78 | 75 |
| Toyota Highlander 4dr 4WD | 95 | 86 | 117 | 88 | 74 | 78 |
| Toyota Highlander Hybrid 4dr 4WD | 111 | 143 |
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance is not optional
Despite the high insurance cost for a Toyota Highlander in Fort Wayne, paying for car insurance is required in Indiana but it also protects you in many ways.
- Almost all states have compulsory liability insurance requirements which means you are required to carry a specific minimum amount of liability coverage in order to drive the car legally. In Indiana 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.
- If you took out a loan on your vehicle, most banks will make it a condition of the loan that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the lender will be forced to insure your Toyota at a much higher rate and force you to reimburse them a much higher amount than you were paying before.
- Car insurance preserves both your assets and your vehicle. It will also reimburse you for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers legal expenses if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your car more than cancel out the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver is overpaying over $830 a year so you should quote rates at every renewal to be sure current rates are still competitive.