Buying the cheapest insurance for a Toyota Corolla in Nevada is dependent upon many rating factors such as whether you use your Corolla for business use, the likelihood of your vehicle being stolen, and any prior driving citations you have received. Drivers in Nevada pay around $912 per year for Corolla insurance, but that is an estimation calculated based on a 40-year-old single male driver with full coverage and $500 deductibles.
This brings up the issue that more than likely you’re not a 40-year-old male, maybe you are married instead of single, or maybe you prefer liability limits higher than required by Nevada state law. Auto insurance is not the same for everyone, so the only way to find cheap insurance rates for your Toyota is to just compare rates yourself.
Cheapest Toyota Corolla Insurance Rates
The trim level of your Toyota will influence the cost of insurance, so the price you will be charged to insure a Corolla LE trim level will be $24 less than the cost to insure the higher-priced Corolla XRS model, as demonstrated by the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corolla LE | $190 | $438 | $372 | $22 | $112 | $1,134 | $95 |
| Corolla S | $190 | $438 | $372 | $22 | $112 | $1,134 | $95 |
| Corolla XLE | $190 | $438 | $372 | $22 | $112 | $1,134 | $95 |
| Corolla XRS | $214 | $438 | $372 | $22 | $112 | $1,158 | $97 |
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Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Estimates do not factor in specific Las Vegas garaging location which can influence premium rates considerably.
Deciphering which company has the lowest-priced auto insurance rates for a Toyota Corolla may require a tad more effort in order to find a policy that fits your budget. Every insurance provider has a different process to set premium rates, so we’ll go over the auto insurance companies with the overall cheapest rates in Las Vegas, NV.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $939 |
| 2 | Allied | $949 |
| 3 | Capital | $978 |
| 4 | Oregon Mutual | $1,193 |
| 5 | American Family | $1,218 |
| 6 | Progressive | $1,226 |
| 7 | GEICO | $1,256 |
| 8 | Nationwide | $1,321 |
| 9 | USAA | $1,323 |
| 10 | Safeco | $1,346 |
| 11 | Farmers | $1,452 |
| 12 | MetLife | $1,567 |
| 13 | Country | $1,668 |
| 14 | State Farm | $1,698 |
| 15 | Mercury | $1,825 |
| 16 | Victoria | $2,073 |
| 17 | Liberty Mutual | $2,183 |
| 18 | Bristol West | $2,336 |
| 19 | Allstate | $2,337 |
| 20 | Encompass | $2,684 |
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Travelers generally has some of the cheapest car insurance rates in Las Vegas at around $939 per year. Allied, Capital, Oregon Mutual, and American Family would also be considered some of the cheapest Las Vegas, NV auto insurance companies.
As shown in the rates above, if you are currently insured with Allied and switched to Travelers, you may realize annual savings of about $10. Insureds with Capital might save as much as $39 a year, and Oregon Mutual policyholders might lower prices by $254 a year.
If you want to find out if you’re overpaying, click here to begin a quote or feel free to get quotes from the companies below.
It’s important to note that these prices are averaged across all drivers and vehicles and and are not calculated with a specific zip code for a Toyota Corolla. So the company that is most affordable for your situation may not even be in the list above. That is why you need to get quotes using your own driver and vehicle profiles.
Reckless driving habits raise Las Vegas auto insurance rates
The recommended way to get low auto insurance premiums in Las Vegas for a Corolla is to be a good driver and avoid tickets and accidents. The illustration below illustrates how speeding tickets and at-fault fender-benders can affect auto insurance costs for different ages of insureds. The data assumes a single female driver, full coverage, $500 deductibles, and no discounts are applied to the premium.
In the example above, the average cost of car insurance per year with no accidents or violations is $1,737. Factor in one speeding ticket and the average cost increases to $1,970, an increase of $233 each year. Now add one accident along with the one speeding ticket and the yearly cost of auto insurance for a Toyota Corolla increases to an average of $2,627. That’s an increase of $890, or $74 per month, just for being a less-than-perfect driver!
Cost difference between full coverage and liability
Reducing premiums for auto insurance should be important to the majority of drivers, and one good way to find cheap insurance for a Toyota Corolla is to not pay for full coverage. The chart below illustrates the comparison of car insurance costs when comparing full coverage to liability only. The rate quotes are based on no violations or accidents, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
On average, full coverage costs $1,616 per year more than just insuring for liability. At some point, every insured wonders if it’s a good idea to buy full coverage. There is no clear-cut formula for excluding physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is 10% or more of the replacement cost minus the deductible, then it might be time to buy liability only.
Get discounts on Las Vegas auto insurance rates
Car insurance companies that provide policies for a Toyota Corolla may provide premium discounts that may potentially lower prices by 25% or more if you are eligible. Larger auto insurance companies and some of their more popular discounts can be found below.
- American Family has discounts for defensive driver, bundled insurance, good driver, mySafetyValet, Steer into Savings, multi-vehicle, and accident-free.
- Nationwide has savings for family plan, accident-free, good student, business or organization, defensive driving, easy pay, and Farm Bureau membership.
- MetLife offers premium reductions for good driver, multi-policy, defensive driver, good student, claim-free, and accident-free.
- 21st Century offers discounts including automatic seat belts, early bird, teen driver, defensive driver, and 55 and older.
- Farmers Insurance may include discounts for youthful driver, electronic funds transfer, pay in full, mature driver, and early shopping.
- Allstate discounts include eSmart discount, passive restraint, senior citizen, economy car, 55 and retired, and multi-policy.
The chart below shows the comparison of premium costs with and without discounts applied to the premium. The costs are based on a female driver, no violations or claims, Nevada state minimum liability limits, full coverage, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multiple policy, multiple vehicle, anti-theft, accident-free, and passive restraint discounts applied. In this example, theaverage yearly reduction on auto insurance for a Toyota Corolla is 28% or $548.