Finding the cheapest car insurance for a Toyota Camry in Texas is normally pretty easy, but it depends on many rating criteria such as how safe your vehicle is, the condition of your credit, and any driving offenses on your record. Texas drivers will pay around $1,268 per year to insure their Camry, but that cost is an estimate based upon a 50-year-old single male driver with full physical damage coverage and $100 deductibles.
Most likely you are not 50 years old and maybe not even male, married instead of single, and maybe your Camry just needs liability-only coverage. Have just a small change in rating criteria may result in a big change in the price of a policy.
Different coverage needs are the reason why the only real way to find cheap auto insurance rates for your Toyota is to do your own rate comparisons.
The specific trim level impacts the insurance rate, so the rate you pay to insure a Camry LE will be $220 cheaper than the price to insure the more costly Camry Hybrid model, as shown by the rates 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 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Price estimates do not factor in vehicle garaging location which can decrease or increase premium rates substantially.
Finding a highly-rated insurance provider can be rather challenging considering how many companies sell coverage in Texas. The ranking data listed below can help you analyze which companies you want to consider shopping your coverage with.
These rankings are for major nationwide insurance companies, so companies that focus mainly on Texas business are not taken into consideration for the list. To view rates and find the cheapest rates for a Toyota Camry, follow this link.
Top 10 Large Car Insurance Companies in Houston Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Top 10 Large Car Insurance Companies in Houston Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
The chart below highlights how deductible selection can impact insurance costs when quoting cheap insurance for a Toyota Camry. The rate quotes are based on a single female driver, full coverage, and no discounts are factored in.
A 30-year-old driver could lower rates by $412 a year by changing from a $100 deductible up to a $500 deductible, or save $624 by switching to a $1,000 deductible. Young drivers, like the age 20 example, could lower their rates up to $920 or more just by choosing higher deductibles.
When insureds make the decision to increase the deductibles on their policy, it will be important to have enough in a savings account to allow you to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Cost difference between full coverage and liability
Saving money when shopping for car insurance is the goal of the majority of vehicle owners, and one of the fastest ways to reduce the cost of insurance for a Toyota Camry is to not buy full coverage. The chart below illustrates the difference between insurance premiums with full physical damage coverage and with liability coverage only. The prices are based on no driving violations, no at-fault accidents, $250 deductibles, single status, and no additional discounts are factored in.
If we average all the age groups together, physical damage coverage costs an extra $2,534 per year more than carrying just liability coverage. Many drivers will wonder when is the right time to remove full coverage. There is no definitive rule that is best for determining when to drop physical damage insurance, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let’s pretend your vehicle’s claim settlement value is $5,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $4,500 after the deductible is paid. If it’s costing you more than $450 annually for full coverage, then you might want to consider buying only liability coverage.
There are some cases where buying only liability insurance is not a good idea. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not drop full coverage.
Get discount Houston auto insurance
Insurance companies that offer coverage for a Toyota Camry may provide premium discounts that could reduce prices by 40% or more if you qualify for them. A few popular companies and a summarized list of policyholder discounts are shown below.
- State Farm may include discounts for passive restraint, driver’s education, multiple policy, safe vehicle, multiple autos, and accident-free.
- GEICO may have discounts that include anti-lock brakes, driver training, multi-policy, air bags, and five-year accident-free.
- Liberty Mutual offers discounts including teen driver discount, good student, new vehicle discount, multi-policy, and multi-car.
- The Hartford includes discounts for bundle, defensive driver, air bag, good student, driver training, vehicle fuel type, and anti-theft.
- MetLife may offer discounts for good driver, good student, accident-free, claim-free, defensive driver, and multi-policy.
- Progressive offers premium reductions for multi-vehicle, multi-policy, homeowner, online signing, good student, and online quote discount.
The example below shows the difference between insurance premiums with and without discounts applied to the rates. The price estimates are based on a female driver, no tickets, no at-fault accidents, Texas state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with defensive driving course, homeowner, marriage, passive restraint, claim-free, and multiple policy discounts applied. When discounts are factored in, the average savings per year on car insurance for a Toyota Camry is 28% or $597.