Buying economical auto insurance for a Toyota Tacoma depends on lots of different factors such as how old the vehicle is, if you have prior claims, and any driving offenses on your record. Drivers will pay around $987 each year for Tacoma insurance, but that amount is a projection using a 50-year-old married male driver with both comprehensive and collision coverage and $500 deductibles.
When estimating a car insurance rate like we just did, the issue is that you're not a 50-year-old male, maybe you are single instead of married, and you want different coverage limits than the example. Having even a minor difference in rating criteria could end up in a significant change in how much insurance for a Toyota Tacoma costs.
Different coverage needs are the reason why the only real way to find affordable rates for your Toyota is to do a thorough rate comparison. Quotes are free and you will receive prices from some of the best companies that sell coverage in Florida.
Vehicle trim level has an effect on the insurance rate, so the price you will pay to insure a Tacoma 2WD trim level will cost $52 less than the insurance cost for the fancier Tacoma Double Cab TRD Sport Package 4WD version, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$204||$372||$400||$24||$120||$1,120||$93|
|Tacoma X-Runner 2WD||$204||$438||$400||$24||$120||$1,186||$99|
|Tacoma Double Cab 4WD||$230||$372||$400||$24||$120||$1,146||$96|
|Tacoma Double Cab TRD Off-Road Package 4WD||$230||$372||$400||$24||$120||$1,146||$96|
|Tacoma Double Cab TRD Sport Package 4WD||$230||$372||$400||$24||$120||$1,146||$96|
|Get Your Own Custom Quote Go|
Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Estimates do not factor in garaging location in Florida which can revise rates greatly.
Insuring your vehicle with the right auto insurance provider is hard considering how many companies are available to choose from in Florida. The company ratings below could help you select which car insurance providers to look at when trying to find cheaper insurance for a Toyota Tacoma.
These ratings include the largest companies in the United States, so smaller regional companies are not included in these rankings. If you wish to compare prices from these and other companies in Florida, follow this link.
Top 10 Major Auto Insurance Providers in Florida Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Top 10 Major Auto Insurance Providers in Florida Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
Top Companies for Toyota Tacoma Insurance in Florida
The example below demonstrates how deductibles can influence premium costs when getting quotes for cheap insurance for a Toyota Tacoma in Florida. The prices are based on a married female driver, full physical damage coverage, and no discounts are factored in.
As shown above, a 40-year-old driver could pocket $340 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $514 by switching to a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could potentially save as much as $848 each year by using higher deductibles when buying full coverage. If you do decide to increase your deductibles, it is necessary to have plenty of money set aside to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Comparison of full coverage and liability-only policies
Finding the cheapest insurance is important to most vehicle owners, and an effective way to pay lower rates for insurance for a Toyota Tacoma in Florida is to buy liability only. The example below illustrates the comparison of car insurance costs with full coverage compared to only the Florida minimum liability coverage. The rate quotes are based on no claims or driving violations, $100 deductibles, drivers are single, and no policy discounts are applied.
As an overall average, physical damage insurance costs $3,045 per year more than just buying liability insurance. At some point, about every driver wonders if paying for full coverage is worth it. There is no clear-cut formula of when to stop paying for comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, then you might consider buying liability only.
There are some conditions where eliminating full coverage is not financially feasible. If you still owe a portion of the original loan, you must maintain physical damage coverage to protect the lienholder's interest in the vehicle. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should not opt for liability only.
Can you find cheaper Tacoma insurance?
Florida insurance rates are determined by lots of factors which can significantly increase or decrease the policy price. Turning one year older, filing a claim, or having an at-fault accident can cause premium changes that can make some companies more affordable than others.
In addition to those changes, companies change the rates they charge in Florida every year to ensure their profitability. Higher than usual claims can result in rate hikes, while a profitable period can produce lower-cost Tacoma insurance rates.
To illustrate this example, the chart below shows rates for the cheapest car insurance in Florida for a 30-year-old female driver with no prior accidents, a clean driving record, and solid credit. When comparing rates based on her current risk factors, USAA offers the most affordable car insurance rates in Florida at $986 per year. This is $1,462 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers are the remainder of the best Florida auto insurance companies.
Now we will give the driver in the first example an at-fault accident, a little lower credit rating, and a speeding ticket. Because each company has their own formula to set policy rates, comparing insurance quotes may now present a different ranking of the cheapest companies as shown below.
USAA now has the best car insurance rate in Florida with Mercury, State Farm, Esurance, and GEICO completing the list. This example proves why it is important to perform an extensive rate comparison when trying to find affordable insurance quotes for a Toyota Tacoma.
Insurance prices are calculated by many things and change frequently, so the best price the last time you checked may now be wasting a lot of money.
How to find cheaper insurance for a Toyota Tacoma in Florida
Lowering your rates is not difficult, and here are many money-saving ideas that can help you get lower-cost coverage.
- Multi-policy discounts save money
- Do not get tickets
- Safer vehicles cost less to insure
- Avoid at-fault accidents and claims
- Frequent claims will increase rates
- Shop around once a year for cheaper rates
The last tip in the list is remarkably crucial, as we stressed in the prior information. Prices charged by companies can be modified anytime, so don't be hesitant to switch companies if a lower-cost policy is available.
Being loyal to a particular company is commendable, but is isn't recommended if that inflexibility results in costing you money that could be used for better things. Take a couple minutes and compare rates and find cheaper insurance for a Toyota Tacoma.