Buying affordable auto insurance for a Toyota Corolla depends on lots of different rating factors such as how many years you have been driving, if you have recent claims, and physical damage deductibles. North Carolina drivers pay on average $754 annually for Corolla insurance, but that cost is an estimation calculated using a 40-year-old single female driver with full physical damage coverage and $500 deductibles.
When estimating a car insurance rate like we just did, the issue is that you may not be 40 years old (or even female), maybe you are married instead of single, and you want different coverage limits than the example. Having just a slight change in rating criteria can make a big difference in how much coverage for a Toyota Corolla costs.
Each driver’s needs are different, and that demonstrates why the only way to find cheap insurance rates for your Toyota is to just take the time to compare rates yourself.
Your Toyota’s trim level will most likely have an effect on the cost of insurance, so the price you will be charged to insure a Corolla LE model will be $20 lower than the cost to insure the higher-end Corolla XRS version, as shown in the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corolla LE | $150 | $348 | $324 | $20 | $96 | $938 | $78 |
| Corolla S | $150 | $348 | $324 | $20 | $96 | $938 | $78 |
| Corolla XLE | $150 | $348 | $324 | $20 | $96 | $938 | $78 |
| Corolla XRS | $170 | $348 | $324 | $20 | $96 | $958 | $80 |
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Data variables include single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rates do not factor in Greensboro location which can impact coverage prices significantly.
Locating low-cost auto insurance is not most people’s favorite thing to do, and determining which insurers offer the cheapest auto insurance rates for a Toyota Corolla involves additional perseverance. Each auto insurance company has a different process to determine premium rates, so first let’s look at the rankings for the auto insurance companies with the overall best prices in North Carolina.
It’s important that you understand Greensboro auto insurance rates are impacted by many factors that control the cost of a policy. This price fluctuation is why it is so important to perform an extensive rate comparison to get affordable auto insurance rates for a Toyota Corolla. Auto insurance prices are impacted by many different factors and can decrease or increase without notice, so the most affordable company the last time you shopped around may now be an over-priced policy.
Cheapest Insurance Rates for Your Corolla
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $651 |
| 2 | Utica National | $662 |
| 3 | Liberty Mutual | $707 |
| 4 | NC Farm Bureau | $709 |
| 5 | Penn National | $725 |
| 6 | Titan | $737 |
| 7 | GEICO | $742 |
| 8 | State Farm | $749 |
| 9 | Auto-Owners | $852 |
| 10 | National General | $890 |
| 11 | Erie | $904 |
| 12 | Travelers | $909 |
| 13 | Allied | $928 |
| 14 | Peerless | $962 |
| 15 | Unitrin | $1,002 |
| 16 | Nationwide | $1,031 |
| 17 | Encompass | $1,031 |
| 18 | MetLife | $1,049 |
| 19 | Safeco | $1,076 |
| 20 | Allstate | $1,097 |
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Progressive may offer some of the cheapest car insurance rates in Greensboro at around $651 each year. This is $221 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National would also be considered some of the cheapest Greensboro, NC car insurance companies.
In the rate table above, if you are insured with Liberty Mutual and switched to Progressive, you might see an annual premium reduction of upwards of $56. Customers with NC Farm Bureau might save as much as $58 a year, and Penn National insureds might see rate reductions of $74 a year.
To find the cheapest rates for your vehicle, click here to get a free quote or quote rates from the companies below.
Remember that these policy rates are averaged for all ages of drivers and types of vehicles and are not factoring in a specific location for a Toyota Corolla. So the company that is most affordable for your situation may not even be in the top 20 companies in the list above. That helps illustrate why you need to get auto insurance quotes using your own driver data and vehicle information.
Impact of violations and accidents on rates in Greensboro
The best way to enjoy the best auto insurance premiums in Greensboro for a Corolla is to pay attention while driving and avoid accidents and traffic violations. The example below highlights how speeding tickets and accidents can impact insurance premiums for different categories of driver ages. The rates are based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.
The chart shows that the average cost of a car insurance policy in Greensboro per year with a clean driving record and no accidents is $1,132. Receive one speeding ticket and the average cost surges to $1,302, an increase of $170 each year. Now get two accidents along with the one speeding ticket and the 12-month cost of auto insurance for a Toyota Corolla goes up to an average of $2,854. That’s an increase of $1,722, or $144 per month, just for not being a responsible driver!
The illustration below shows how different deductible levels can raise or lower insurance costs when trying to find cheap insurance for a Toyota Corolla. The rates are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The chart above illustrates that a 40-year-old driver could lower their policy premium by $230 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $344 by switching to a $1,000 deductible. Young drivers, like the Age 20 chart data, could possibly save up to $568 each year by selecting a higher deductible.
If you do make the decision to raise your deductibles, it is important to have enough savings set aside to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
How to find cheaper auto insurance for a Toyota Corolla
The list below details some money-saving ideas that can help drivers get low-cost auto insurance.
- Just one traffic violation will increase your rates
- Prevent rate increases by staying accident-free
- Increase your physical damage deductibles
- Increase your credit rating
- Drive vehicles with five-star safety ratings
- Compare rates and switch if you can find a better deal
The last item on the list is remarkably valuable, as we noted in the prior information. Prices in Greensboro adjust often, so don’t hesitate to buy from a new company if you find a better deal. Brand loyalty is not necessarily bad, but it’s not a good idea if that loyalty ends up costing a small fortune year after year. It takes less than five minutes to shop around and find cheaper insurance for a Toyota Corolla.
If you would rather get some professional advice when shopping for the best coverage for a Corolla, the agencies below can most likely aid you in deciding which auto insurance coverages would be the best in your situation. To find a Greensboro insurance agent closest to you, click the button below the list or click here to compare prices now.
- Pelnik Insurance
3828 Burlington Rd – Greensboro, NC 27405 – (336) 621-5057 - Drew Baker – State Farm Insurance Agent
608 Pisgah Church Rd – Greensboro, NC 27455 – (336) 288-8802 - Nationwide Insurance – Young Insurance Agency Inc
2100 W Cornwallis Dr, Ste O – Greensboro, NC 27408 – (336) 288-8000 - Allstate Insurance: Chris Just
1420 Westover Terrace Ste D – Greensboro, NC 27408 – (336) 854-7701