Tired of not being able to scrape enough together to keep your car insured? You have the same problem as millions of other vehicle owners.

Discount Toyota Corolla insuranceAmazingly, the vast majority of car insurance customers in North Carolina kept buying from the same company for well over three years, and practically 40% of car insurance customers have never quoted car insurance rates at all. U.S. drivers can cut their rates by nearly 47% a year by just comparing quotes, but they just don't understand the big savings they would realize if they bought a different policy.

Since you have so many options for buying cheap insurance for a Toyota Corolla in Raleigh, it's nearly impossible to locate the most affordable insurer.

Just keep in mind that having more price comparisons helps locate more affordable rates.

The following companies are ready to provide free rate quotes in North Carolina. If multiple companies are shown, we suggest you visit two to three different companies in order to get a fair rate comparison.

Toyota Corolla Insurance Rates in Raleigh, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $192 $382 $250 $14 $74 $912 $76
Corolla S $206 $516 $324 $20 $96 $1,162 $97
Corolla XLE $136 $240 $326 $20 $98 $820 $68
Corolla XRS $186 $378 $234 $14 $70 $882 $74
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Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Prices do not factor in specific garaging location which can revise auto insurance rates noticeably.

Rate comparison of full coverage and liability-only

The information below shows the difference between Toyota Corolla insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no tickets, no at-fault accidents, $1,000 deductibles, single female driver, and no discounts are applied to the premium.

When to drop comprehensive and collision

There is no exact rule to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.

For example, let's assume your Toyota Corolla book value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after the policy deductible has been paid. If premium cost is more than $200 annually for full coverage, then you might want to think about dropping full coverage.

There are some conditions where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you don't have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.

Policy deductibles

When shopping for car insurance, a common question is what deductibles to buy. The data tables below can help you visualize the rate differences when you buy lower versus higher policy deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second set of prices uses a $1,000 deductible.

Toyota Corolla insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $192 $382 $250 $14 $74 $937 $78
Corolla S $192 $382 $250 $14 $74 $937 $78
Corolla XLE $192 $382 $250 $14 $74 $937 $78
Corolla XRS $218 $382 $250 $14 $74 $963 $80
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Toyota Corolla insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $118 $240 $250 $14 $74 $696 $58
Corolla S $118 $240 $250 $14 $74 $696 $58
Corolla XLE $118 $240 $250 $14 $74 $696 $58
Corolla XRS $134 $240 $250 $14 $74 $712 $59
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Rates do not factor in vehicle garaging location which can influence rates substantially.

We can estimate from the data above that using a $250 deductible costs approximately $21 more each month or $252 every year than requesting the higher $1,000 deductible. Because you would pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to average at a minimum 36 months between claims, you would probably save some money if you choose the higher deductible.

Insurance rate increases from tickets or accidents

The illustration below demonstrates how speeding tickets and at-fault claims drive up Toyota Corolla car insurance rates for each different age category. The premium estimates are based on a married male driver, full coverage, $500 deductibles, and no additional discounts are factored in.

Best reasons to buy insurance in North Carolina

Despite the high cost of buying insurance for a Toyota Corolla in Raleigh, insurance is most likely required but also gives you several important benefits.

First, just about all states have minimum mandated liability insurance limits which means you are required to carry a minimum amount of liability if you want to drive legally. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you bought your vehicle with a loan, more than likely the lender will force you to carry insurance to guarantee loan repayment. If the policy lapses, the bank will be required to insure your Toyota at a much higher rate and force you to pay a much higher amount than you were paying before.

Third, insurance protects your vehicle and your assets. Insurance will also pay for all forms of medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, will also pay to defend you if you are sued as the result of an accident. If mother nature or an accident damages your car, your insurance policy will pay to have it repaired.

The benefits of buying insurance greatly outweigh the cost, particularly when you have a large claim. On average, a vehicle owner in Raleigh is wasting up to $850 per year so smart consumers compare quotes each time the policy renews to ensure rates are competitive.

How You Can Control Toyota Corolla Insurance Premiums

Lots of things are part of the equation when you get your auto insurance bill. Some factors are common sense like your driving record, but other factors are not quite as obvious like where you live or your financial responsibility.

Only buy coverage you need - Policies have extra coverages you can purchase if you don't pay attention. Coverage for things like rental car coverage, towing coverage, and Farm Bureau memberships are examples of these. They may seem good when discussing your needs, but if they're wasting money eliminate the coverages to reduce your premium.

Vehicle theft costs us all - Choosing a vehicle with a theft deterrent system can save you some money. Anti-theft devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help prevent auto theft.

Accidents drive up rates - Drivers who don't get tickets have lower premiums compared to bad drivers. Even a single ticket can increase rates forty percent or more. Drivers who have gotten careless tickets such as reckless driving, hit and run or driving under the influence are required to submit a SR-22 or proof of financial responsibility with their state's department of motor vehicles in order to continue driving.

More traffic means higher claims - Choosing to live in areas with lower population has definite advantages when trying to find low car insurance rates. Urban drivers tend to have more aggressive driving styles and longer commutes to work. Lower population means fewer accidents as well as less vandalism and auto theft.

More performance means more cost - The performance of the car you need to insure makes a big difference in your premium level. Due to the fact that the Toyota Corolla is a sedan, insuring your vehicle will cost about the same as compared to the average rate in Raleigh. Economy passenger vehicles normally have pretty low rates, but there are many factors that impact the final cost.

Are men or women drivers cheaper? - Statistics have proven that women are safer drivers than men. However, this does not mean women are better drivers. Both sexes get in auto accidents at a similar rate, but the men tend to have more serious accidents. In addition to higher claims, males also have more aggressive citations like DUI and reckless driving. Male drivers age 16 to 19 have the highest risk to insure and are penalized with high insurance rates.

How many miles do you drive? - The higher the miles on your Toyota each year the more it will cost to insure it. Most insurance companies calculate rates partially by how you use the vehicle. Vehicles not used for work or commuting receive better premium rates than those used for commuting. An improperly rated Corolla can cost quite a bit. It's a smart idea to ensure your insurance policy is showing the proper vehicle usage.

Toyota Corolla insurance loss data - Insurers analyze the history of losses when setting premium prices. Models that the data determines to have a trend towards higher claims will have higher rates.

The table below shows the historical insurance loss data for Toyota Corolla vehicles. For each coverage category, the claim amount for all vehicles averaged together is considered to be 100. Values that are 100 or less indicate better than average losses, while percentage numbers above 100 point to more losses or an increased probability of a larger loss.

Auto Insurance Loss Data for Toyota Corolla Models

Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Toyota Corolla 133 111 94 156 158 128

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Insurance quotes and discounts

Companies don't always list all discounts very clearly, so the below list has both well-publicized and the harder-to-find credits available to you.Save money with discounts

Just know that many deductions do not apply to the overall cost of the policy. Some only reduce specific coverage prices like liability, collision or medical payments. So when it seems like adding up those discounts means a free policy, insurance companies aren't that generous.

If you would like to view insurers that provide some of the discounts listed above in Raleigh, click here to view.

You may need help from an insurance agent

A lot of people prefer to talk to an insurance agent and there is nothing wrong with that. A good thing about comparing insurance prices online is you may find cheap rate quotes and still have an agent to talk to. Supporting local agencies is still important in Raleigh.

Insurance agents in RaleighTo make it easy to find an agent, after completing this quick form, your information is sent to local insurance agents that can provide free Raleigh auto insurance quotes for your coverage. There is no need to do any legwork since price quotes are sent straight to your inbox. You can get cheaper auto insurance rates and a licensed agent to work with. In the event you want to get a comparison quote from a particular provider, you just need to find their quoting web page and fill out the quote form the provide.

Shown below is a short list of insurers in Raleigh that are able to give price quote information for Toyota Corolla insurance in Raleigh.

1100 Logger Ct., Bldg. D-101 - Raleigh, NC 27609 - (919) 747-9002 - View Map

3901 Barrett Dr Suite 312 - Raleigh, NC 27609 - (919) 772-7698 - View Map

2010 New Bern Ave - Raleigh, NC 27610 - (919) 255-6210 - View Map

1425 Rock Quarry Rd #105a - Raleigh, NC 27610 - (919) 833-6111 - View Map

View more Raleigh agents

Picking the best provider needs to be determined by more than just a cheap price. Here are some questions you should ask.

Compare but don't skimp

A few companies don't offer the ability to get quotes online and these smaller companies sell through local independent agencies. Low-cost Toyota Corolla insurance in Raleigh is possible on the web in addition to many Raleigh insurance agents, so you should be comparing quotes from both to have the best selection.

When getting Raleigh auto insurance quotes online, do not sacrifice coverage to reduce premiums. There are many occasions where consumers will sacrifice physical damage coverage only to regret that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to purchase plenty of coverage for the lowest price while not skimping on critical coverages.

We just showed you some good ideas how to lower your Toyota Corolla insurance car insurance rates in Raleigh. It's most important to understand that the more providers you compare, the higher your chance of finding inexpensive Raleigh auto insurance quotes. You may even find the lowest priced auto insurance comes from a small mutual company. Regional companies may have significantly lower premium rates on certain market segments than the large multi-state companies such as Progressive and GEICO.

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