Wish you could get out of high-priced Toyota Prius insurance in Las Vegas? Believe me when I say many Las Vegas consumers are in the same pinch.
We don’t have to point out that fact that insurance companies don’t want you shop around. Consumers who shop around annually will most likely move their business because there is a significant possibility of finding discount prices. A survey found that drivers who make a habit of shopping around saved on average $860 a year compared to other drivers who never shopped around for lower prices.
If finding low prices for insurance is your ultimate objective, then understanding the best way to shop and compare insurance premiums can save money and time.
Companies like GEICO, Farmers Insurance and State Farm all claim big savings with catchy ads and it can be hard to see past the geckos and flying pigs and take the time to shop coverage around.
If you have a current car insurance policy, you stand a good chance to be able to lower your rates using the concepts you’re about to learn. Buying the cheapest car insurance in Las Vegas can be made easier if you know where to look. But Nevada drivers do need to know the way insurance companies charge you for coverage and use this information to your advantage.
Best companies for low-cost Toyota Prius insurance in Nevada
The auto insurance companies shown below provide free rate quotes in Nevada. To get the best auto insurance in Nevada, we suggest you click on several of them in order to find the most affordable rates.
Toyota Prius detailed coverage information
The information shown below outlines different insurance premium costs for Toyota Prius models. Learning more about how insurance prices are formulated can benefit drivers when making smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Table data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in specific garaging location which can influence coverage prices significantly.
The example below highlights how deductible selection and can influence Toyota Prius yearly insurance costs for different age categories. The costs are based on a married male driver, full physical damage coverage, and no policy discounts are applied.
Full coverage rates compared to liability-only
The example below shows the comparison of Toyota Prius insurance rates with full coverage and liability only. The premiums assume no violations or claims, $250 deductibles, drivers are single, and no discounts are applied.
When to drop comp and collision
There is no exact formula of when to phase out full coverage, but there is a general convention. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let’s pretend your Toyota Prius claim settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after paying your deductible. If premiums are more than $500 a year for your policy with full coverage, then you might consider buying liability only.
There are some circumstances where buying only liability insurance is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not drop full coverage.
Lower rates by qualifying for discounts
Car insurance can cost a lot, but there may be some discounts that could drop your premiums quite a bit. Some discounts apply automatically at quote time, but some may not be applied and must be asked about in order for you to get them.
- Payment Discounts – By paying your policy upfront rather than paying in monthly installments you may reduce your total bill.
- Accident Forgiveness Coverage – Not necessarily a discount, but companies like GEICO, Allstate and Liberty Mutual will allow you to have one accident before raising your premiums so long as you haven’t had any claims for a set time period.
- Discounts for Multiple Vehicles – Insuring multiple cars with the same auto insurance company may reduce the rate for each vehicle.
- Defensive Driver Discounts – Successfully completing a defensive driving course could earn you a small percentage discount and also improve your driving technique.
- Memberships – Affiliation with a professional or civic organization is a simple method to lower premiums on your bill.
- Military Rewards – Having a deployed family member can result in better auto insurance rates.
- Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems can get savings of more than 20%.
- Anti-theft Discount – Cars, trucks, and SUVs that have factory anti-theft systems help deter theft so companies will give you a small discount.
- Las Vegas Homeowners Discount – Just being a homeowner can help you save on auto insurance because of the fact that having a home shows financial diligence.
- Drive Safe and Save – Drivers without accidents can get discounts for up to 45% lower rates than drivers with accident claims.
You can save money using discounts, but most credits do not apply to your bottom line cost. A few only apply to the cost of specific coverages such as collision or personal injury protection. Despite the appearance that having all the discounts means you get insurance for free, that’s just not realistic.
The chart below visualizes the comparison of Toyota Prius insurance rates with and without discounts applied to the rates. The premiums assume a male driver, no violations or accidents, Nevada state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, safe-driver, multi-car, marriage, and homeowner discounts applied.
If you would like to see a list of auto insurance companies with significant discounts in Nevada, click here to view.
You Can Change Your Insurance Costs
It’s important that you understand some of the factors that aid in calculating your insurance rates. If you understand what positively or negatively impacts your premiums, this enables you to make decisions that may result in lower rates. Many factors are part of the calculation when quoting car insurance. Most are fairly basic like an MVR report, but other factors are less apparent like your vehicle usage or your commute time.
The items below are some of the things used by your company to calculate your rate level.
- More people means more accidents – Being located in small towns and rural areas may provide you with better prices when it comes to insurance. Fewer drivers means less chance of accidents and lower theft and vandalism rates. City drivers have to deal with much more traffic and much longer commute distances. Longer commute distances means higher likelihood of an accident.
- Reduce prices by driving cars with good safety ratings – Vehicles that have high safety ratings get lower rates. These vehicles protect occupants better and fewer serious injuries translates into fewer and smaller insurance claims which can mean better rates for you. If your Toyota Prius has ratings of a minimum four stars on Safercar.gov you may pay a lower rate.
- Good credit scores equal low costs – Having a good credit score will be a significant factor in determining what you pay for insurance. Therefore, if your credit score is low, you could save money insuring your Toyota Prius by taking the time to improve your credit score. People that have good credit tend to be more responsible than drivers with bad credit.
- Your occupation may affect rates – Careers like doctors, air traffic controllers, and financial analysts tend to have higher premium rates because of high stress and lengthy work days. Conversely, careers like actors, engineers and the unemployed pay lower than average rates.
- Don’t cancel your insurance without a new one in place – Going without insurance is a fast way to bump up your insurance costs. In addition to paying higher premiums, getting caught without coverage may earn you a revoked license or a big fine. You may then be required to submit proof of financial responsibility or a SR-22 with the Nevada department of motor vehicles.
- Is your vehicle theft-ready? – Choosing a vehicle with a theft deterrent system can get you a discount on your insurance. Advanced theft deterrents such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart vehicle theft.
- Compare rates if you consolidate your policies – Some insurance companies provide better rates for people that buy multiple policies such as combining an auto and homeowners policy. The discount can be as much as ten percent or more Even with this discount applied, it’s in your best interest to comparison shop to confirm you are receiving the best rates possible. It’s possible to still find better rates by splitting coverages up.
- Rate your vehicle for proper use – The more miles you rack up on your Toyota each year the more you will pay for insurance. The majority of insurers calculate prices partially by how you use the vehicle. Vehicles not used for work or commuting receive better premium rates as compared to vehicles used primarily for driving to work. A policy that improperly rates your Prius is throwing money out the window. It’s a good idea to make sure your insurance coverage properly reflects the correct usage, because improper ratings can cost you money.
Toyota Prius insurance loss probability – Insurers study historical loss data to help determine rates. Models that the data shows to have higher losses will have higher rates. The information below illustrates the historical insurance loss data for Toyota Prius vehicles.
For each coverage category, the claim amount for all vehicles, without regard to make or model, is set at 100. Numbers that are below 100 imply a favorable loss record, while percentage numbers above 100 show a trend for more claims or an increased likelihood of larger losses.
Car Insurance Loss Data for Toyota Prius Models Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Prius C Hybrid 113 100 87 120 121 113 Toyota Prius Hybrid 101 97 98 103 118 103 Toyota Prius Plug-in Hybrid 98 89 87 106 114 93 Toyota Prius V Hybrid 94 86 88 88 94 97BETTERAVERAGEWORSE
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
What is the best insurance coverage?
When selecting the right insurance coverage, there is no “best” method to buy coverage. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply.
For example, these questions can help discover if you will benefit from professional help.
- Do I need special coverage while pulling a rented trailer?
- What if I don’t agree with a claim settlement offer?
- What is no-fault insurance?
- Is my babysitter covered when using my vehicle?
- Do I pay less if my vehicle is kept in my garage?
- When should I buy a commercial auto policy?
If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with an agent. If you don’t have a local agent, fill out this quick form or click here for a list of insurance companies in your area.
When to get advice from an agent
Some people would rather sit down with an agent and that is a personal choice. One of the best bonuses of getting online price quotes is that drivers can save money and get cheaper premium rates but still work with a licensed agent.
Upon completion of this quick form, the coverage information is instantly submitted to insurance agents in Las Vegas that give free quotes and help you find cheaper coverage. You won’t need to find an agent because quoted prices will be sent directly to your email. It’s the lowest rates without a big time investment. In the event you want to compare prices from a specific auto insurance provider, you would need to jump over to their website and fill out their quote form.
Finding the right company should include more criteria than just the bottom line cost. Get answers to these questions too.
- Do they feel the quoted coverages are adequate?
- Is the agency active in community causes in Las Vegas?
- Is there a 24/7 contact number?
- Are aftermarket or OEM parts used to repair vehicles?
- Are they paid to recommend certain coverages?
- Are they full-time agents?
- Is auto insurance their primary focus in Las Vegas?
If you want a reliable insurance agency, you must know there are a couple different agency structures and how they function. Agencies in Las Vegas are either independent agents or exclusive agents.
Exclusive Insurance Agencies
These agents generally can only insure with one company like American Family, State Farm, and Allstate. Exclusive agents cannot compare rates from other companies so you might not find the best rates. Exclusive agents are usually quite knowledgeable on what they offer which helps them sell on service rather than price.
Listed below are exclusive agents in Las Vegas that can give you rate quotes.
LaDonna Koeller – State Farm Insurance Agent
4275 N Rancho Dr #155 – Las Vegas, NV 89130 – (702) 636-9447 – View Map
Independent agents are not restricted to one company and that allows them to write policies with any number of different companies and possibly get better coverage at lower prices. If you want to switch companies, they simply switch companies in-house which makes it simple for you.
When comparing auto insurance rates, you need to compare quotes from several independent agencies to ensure the widest selection of prices.
Shown below is a list of independent agents in Las Vegas that can give you price quotes.
Best car insurance company in Nevada
Ending up with a highly-rated car insurance company can be challenging considering how many different companies insure vehicles in Las Vegas. The rank data below could help you analyze which car insurance providers to look at comparing rate quotes with.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
Don’t give up on affordable rates
Cost effective Toyota Prius insurance is available online and also from your neighborhood Las Vegas agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance providers may not have online quoting and usually these smaller providers work with independent agents.
When searching for affordable Toyota Prius insurance quotes, you should never buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured cut liability limits or collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your goal should be to buy the best coverage you can find at a price you can afford, but don’t skip important coverages to save money.
Steps to finding cheaper Toyota Prius insurance in Las Vegas
If saving the most money is your goal, then the best way to find low-cost prices for Toyota Prius insurance is to start doing a yearly price comparison from companies that insure vehicles in Las Vegas.
First, spend a few minutes and learn about how auto insurance works and the measures you can take to drop your rates. Many factors that result in higher rates like at-fault accidents, careless driving, and a not-so-good credit score can be amended by making minor changes in your lifestyle.
Second, quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like Progressive or Allstate, while independent agencies can provide price quotes from multiple insurance companies.
Third, compare the new rates to the premium of your current policy to determine if you can save on Prius insurance. If you find a better price, make sure there is no lapse in coverage.
Fourth, notify your agent or company of your decision to cancel your current policy and submit payment and a completed application for the new coverage. Once coverage is bound, keep the new certificate of insurance with your registration paperwork.
A tip to remember is to compare the same liability limits and deductibles on every quote and and to get rate quotes from as many auto insurance providers as possible. This guarantees a fair rate comparison and the most accurate and complete price analysis.
More detailed insurance information can be read at these sites:
- A Tree Fell on Your Car: Now What? (Allstate)
- How Much is Car Insurance for Lyft Drivers in Las Vegas? (FAQ)
- How Much are Car Insurance Quotes for Uninsured Drivers in Las Vegas? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Drivers Over Age 50 in Las Vegas? (FAQ)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Liability Insurance Coverage (Nationwide)
- Event Data Recorders FAQ (iihs.org)
- Auto Crash Statistics (Insurance Information Institute)