How Much is Insurance for a Toyota Camry in Alabama?

When talking about car insurance, the word affordable should never appear anywhere to describe car insurance prices. Despite the oxymoron, cheap car insurance for a Toyota Camry can be extremely hard to find. Don’t get your dauber down, because we will show you how you can quote auto insurance that is considered budget-friendly.

The chances of buying cheap coverage for a Toyota Camry in Alabama depends on a whole bunch of factors such as the number of years you have been licensed, whether you are claim-free, and if you had any at-fault accidents in the last few years. Drivers pay on average $760 a year to insure their Camry, but that policy rate is a projection that uses rate data for a 30-year-old married male who purchased full comprehensive and collision coverage and $1,000 deductibles.

When making auto insurance estimates, the issue arises that you are not 30 years old and maybe not even male, you might be single instead of married, or you just want cheap liability insurance instead of full coverage. Everyone has different rating factors, so the best way to quote cheap insurance rates for your Toyota is to compare as many rates as possible.

View Toyota Camry Insurance Rates

Vehicle trim level will likely have an effect on the insurance rate, so the cost to insure a Camry LE model will be $132 lower than the cost to insure the high end Camry Hybrid model, as shown in the chart below.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alabama minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Prices do not factor in vehicle garaging location which can impact premiums greatly.

Buying coverage from the best car insurance company is hard considering how many choices you have in Alabama. The rank data in the next section could help you decide which insurers to look at comparing rates from. These ratings only include large nationwide companies, so smaller regional companies are not included in this list.

Does full coverage make sense?

Finding cheap insurance for a Toyota Camry in Alabama is important to most vehicle owners, and one common way to find cheap insurance is to only pay for liability coverage. The example below shows the difference between auto insurance costs when comparing full coverage to liability only. The premium estimates are based on no claims or driving citations, $1,000 deductibles, single marital status, and no discounts are factored in.

Averaged for all age groups, comp and collision coverage costs an additional $1,676 per year more than just insuring for liability. That proposes the question if you should buy full coverage at all. There isn’t a written rule of when to eliminate comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

There are a few cases where buying only liability insurance is not advised. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.

The information below shows how different deductible levels can increase or decrease annual premium costs when searching for cheap insurance for a Toyota Camry. The data assumes a married male driver, full physical damage coverage, and no discounts are applied to the premium.

A 40-year-old driver could lower their policy premium by $326 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $494 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could drop their prices up to $1,094 each year just by choosing higher deductibles when buying full coverage. If you do decide to increase your deductibles, it is necessary to have plenty of savings on hand to be able to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.

Company comparison: Geico vs Allstate vs Progressive vs State Farm

If you’re looking for the cheapest car insurance, four companies to take a look at are Geico, Allstate, Progressive, and State Farm. If you combine them together, they insure over 48% of all policies written. They all offer a different combination of discounts, features, and options that may affect your buying decision. The data below ranks ratings for price and service, as well as some optional coverages that may be available in Alabama.

Who has the cheapest Toyota Camry insurance quotes?

Drivers have many ways to find lower-cost auto insurance in Alabama, but the most common ways are from an exlusive agent such as Auto-Owners or State Farm, a non-exclusive or independent agent, or direct from companies such as Progressive or Geico.

Each way has the same basic steps, but they differ slightly in how they provide rate quotes.

Independent agents are appointed by several companies and can compare rates with all of them. Independent agents are not restricted to one company and can give you a larger rate selection, which may provide you with a better comparison. If your agent finds a cheaper company, they simply switch companies in-house which prevents you from having to find a new agency.

An exclusive ageny is limited to one insurance company, two of the more popular are an Auto-Owners or State Farm agent. They are unable to provide rates from more than one company, so it’s a good idea to get additional quotes.

The third popular method of shopping for auto insurance is direct, which means you forego the middleman (the agent) and buy from a direct company like Progressive or Esurance. This option is good for people who do not have a lot of assets and have some degree of understanding of how auto insurance works.

So which of the methods works best for finding cheap insurance for a Toyota Camry in Alabama? We’d like to say buying from a direct car insurance company saves the most money since that prevents the need to pay agent commissions, but in reality, that is not true. An argument could also be made that buying auto insurance from an independent agent guarantees the best prices due to having more companies to select from, but again, it’s not a sure thing. In a lot of cases, exclusive agencies have really good rates well below independent agents AND direct companies.

Since auto insurance prices vary so much, really the only way to get the lowest rate is to get rate quotes and compare. Industry experts recommend getting price quotes from independent, exclusive, and direct to get an idea of which is cheapest. For a list of companies offering online discounts in Alabama, click here to view.