How Much is Insurance for a Toyota RAV4 in Michigan?

We always joke that when we write about car insurance, the word “cheap” really should not be used anywhere in the article to describe car insurance rates. Excuse the oxymoron, but cheap car insurance for a Toyota RAV4 just does not exist. But fear not, because we are going to show you some ways you can quote and buy coverage that is cheaper than your current rate.

Your ability to find cheap coverage for a Toyota RAV4 in Michigan depends upon many rating criteria like your marital status, the likelihood of your vehicle being stolen, and any driving offenses on your record. Michigan drivers on average pay around $2,070 per year to buy insurance for a Toyota RAV4, but that policy rate is an estimate that uses a 30-year-old married male driver that included full coverage and $250 deductibles.

There is a very good chance that you are not exactly 30 years old and possibly not even male, possibly single instead of married, and there is a good chance that other rated drivers impact the rate. Having just a slight change in rating variables can make a large difference in the cost of insurance.

Insurance is an individual thing, so the most reliable way to find the cheapest coverage for your Toyota is to compare as many rates as possible.

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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Michigan minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Table data does not factor in garaging location in Michigan which can raise or lower insurance rates significantly.

Determining which company offers the lowest-priced car insurance rates for a Toyota RAV4 calls for a little more effort in order to find coverage that fits your buget.

Each auto insurer has a proprietary method for establishing rates, so we’ll go over the car insurance companies with the overall cheapest rates in Michigan. Keep in mind that Michigan car insurance rates are impacted by many factors which can substantially decrease or increase the price you have to pay. Simply having another birthday, increasing deductibles, or getting a ticket for running a stop sign can trigger rate changes that may make certain companies cheaper than others.

Best Cheap Insurance Rates for Your Toyota

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USAA may have some of the best car insurance rates in Michigan at around $987 per year. GEICO, Safeco, MetLife, and Chubb also qualify as some of the cheaper Michigan insurance companies.

In the rate table above, if you have coverage with Chubb and switched to GEICO, you might realize annual savings of approxmiately $339. Customers with Pioneer State Mutual could save as much as $397 a year, and MEEMIC insureds might reduce prices by as much as $417 a year.

These premium estimates are averages for all drivers and vehicles and and are not figured with a specific rate factor for a Toyota RAV4. So the company that can offer you the lowest price may not even be featured in the company chart above. That points out the importance of why you need to get car insurance quotes using your own specific driver and vehicle information.

Full coverage rates compared to liability-only

Finding cheap insurance for a Toyota RAV4 in Michigan is important to the majority of vehicle owners, and one common way to reduce the cost of insurance is to not buy full coverage. The illustration below shows the comparison of insurance costs with full phyical damage coverage and with liability coverage only. The costs are based on no claims or driving citations, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 5803,2427],[‘Age 30’, 3043,1321],[‘Age 40’, 2961,1223],[‘Age 50’, 2707,1143],[‘Age 60’, 2627,1123],[‘Age 70’, 3279,1509]]);var options = {title: ‘Comparison of Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota RAV4 in Michigan’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If we average all the age groups together, comprehensive and collision coverage on your policy costs an extra $3,403 per year more than carrying just liability coverage. At some point, every insured wonders if full coverage is worth the money. There is no definitive rule of when to drop physical damage coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.

There are some cases where only buying liability is not recommended. If you still have a loan on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should maintain full coverage.

Impact of violations and accidents on rates

The ideal way to obtain cheap insurance for a Toyota RAV4 in Michigan is to drive safe and avoid accidents and keep your driving record clean. The diagram below demonstrates how speeding tickets and accidents can impact auto insurance rates for different age groups. The prices are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and One Accident’],[‘Age 20’, 6541,7779,9029],[‘Age 30’, 3419,4655,5905],[‘Age 40’, 3347,4587,5837],[‘Age 50’, 3053,4293,5539],[‘Age 60’, 2957,4195,5443],[‘Age 70’, 3645,4883,6131]]);var options = {title: ‘Impact of Violations and Accidents on Michigan Toyota RAV4 Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Toyota RAV4 in Michigan’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the previous chart, the average cost of an auto insurance policy in Michigan per year with no accidents and a clean driving record is $3,827. Add in two speeding tickets and the average cost hikes up to $5,065, an increase of $1,238 each year. Then throw in one accident along with the two speeding tickets and the 12-month cost of car insurance for a Toyota RAV4 jumps again to an average of $6,314. That’s an increase of $2,487, or $207 per month, just for not being a responsible driver!

How to find economical auto insurance for a Toyota RAV4

The list below summarizes some penny-pinching solutions that can help Michigan drivers locate low-cost car insurance.

• Full coverage may not be needed on older vehicles
• Higher credit scores may earn you cheaper rates
• Higher comprehensive and collision coverage deductibles will save money
• At-fault accidents can raise rates significantly
• Do not get tickets
• Drive vehicles with five-star safety ratings
• Comparison shop frequently

The last tip is especially significant, as was affirmed in this article. Insurance prices in Michigan change a lot, so drivers shouldn’t be resistant to change to a new company if you can find a cheaper rate.

Many consumers stick with the same company and that’s fine, but is isn’t recommended if that inflexibility results in costing you hundreds of dollars year after year. In less than five minutes you could compare rates and find cheaper insurance for a Toyota RAV4.

Cheapest Toyota RAV4 insurance quotes

Drivers have a lot of ways to quote cheap car insurance rates in Michigan, but the most frequently used methods are from an independent agent, a captive (or exclusive) agency such as Allstate or Liberty Mutual, or direct either online or via phone.

Each way is similar, but car insurance shoppers should know the differences in how they work.

Independent insurance agents write for multiple companies and can get policy pricing from all of them. They have the freedom to give you more rate choices, which may give you a better comparison. If they find a cheaper price, they simply switch companies in-house which prevents you from having to find an new insurance agent.

Exclusive agencies are only able to write with a single insurance company, for example an Auto-Owners or Allstate agent. These agents are unable to quote prices from more than a single company, so it’s a good idea to get additional price quotes.

Drivers who opt to buy car insurance direct forego a local agent and buy direct either online or via phone. Shopping for car insurance direct can be a good choice for families who do not need complex risk management and have a good understanding of what coverages they need.

Which method works best to buy cheap insurance for a Toyota RAV4 in Michigan? Most people assume that buying direct saves the most money because there isn’t an agent involved, but unfortunately, that is not the case. It would also be easy to say buying from an independent agent guarantees the cheapest rates due to increased selection, but again, it’s not a sure thing. And often times, exclusive agents may have prices that are the cheapest.

Since car insurance companies use so many rating factors, the best method to find out which one is cheapest is to compare rate quotes from as many companies as possible. Industry experts recommend getting rate quotes from independent agents, exclusive agents, and direct companies to give yourself plenty of rates to compare. To see some of the cheapest online companies available, click here to view.