All You Need to Know About Toyota Prius Insurance
Toyota Prius is a five-seater hybrid car known for its fuel efficiency, ample cargo space, and advanced airbag system. The basic starting price for your Toyota is $24,525 and it can go up to $32,820. Toyota Prius 2022 is made in Japan. To insure your Toyota Prius Car depends on many factors, including the coverage you want, where the Toyota Prius is located, and the deductible amount. Stay with us to know the average insurance cost for a Toyota Prius.
Average Insurance Cost for Toyota Prius
We all understand how car insurance can burn a hole in your pocket. While insuring your car is necessary, it also depends on a number of factors, including your location, age, vehicle, the deductible amount, and the coverage you want. The easiest way to get your vehicle insured is by comparing the car insurance quotes online or through an agent.
The cost of Toyota Prius insurance is around $213 less than any average vehicle. The average rate to get your Toyota Prius insured for a year is $1,306. Toyota Prius insurance is a bit cheaper than the average insurance rates of other vehicles. It offers the minimum amount on the liability coverage.
Factors that Impact Toyota Prius Insurance Rate
There are many factors that determine the insurance rate of Toyota Prius.
- Your Location: The insurance rate can depend on your location, while the average Toyota Prius insurance across the U.S. is $112 per month. It depends on which state your Toyota is located in; Michigan offers the highest Toyota Prius insurance of $202 per month, while Maine has the lowest insurance offer of $69 per month.
- Age of The Vehicle: The older models of Toyota Prius cost less than the newer models. For example, Toyota Prius 2010 has average annual insurance of $1,046, and Toyota Prius 2020 has average annual insurance of $1,306.
- Driver Age: Your age also determines your Toyota Prius Insurance Rate. If you are a young adult less than 25 years old, you have to pay a higher insurance rate than a 30-year-old.
- Your Driving Record: If you have clean records with zero violations, you have to pay less insurance than those with violations on their record.
The other factors which are company based and determine the insurance rate of Toyota Prius are:
- Toyota Prius Safety Ratings: The rate of your Toyota Prius insurance can depend on your vehicle’s safety ratings. If you have a poor safety rating, you will likely pay a high Toyota Prius insurance amount.
- Toyota Prius Crash Test Settings: The rating of your crash test settings could determine the insurance rate of your Toyota Prius. Poor rating on the crash test means higher Toyota Prius insurance rates.
- Toyota Prius Safety Features: If you have a range of safety features on your Toyota Prius, you are likely to pay less for your vehicle insurance.
- Toyota Prius Insurance Loss probability: While the insurance probability depends on your coverage type, the lower percentage loss probability means less Toyota insurance cost. Likewise, the higher percentage loss probability means more Toyota Prius insurance costs.
Top Companies Offering Toyota Prius Insurance
As mentioned earlier, there are a number of factors on which your Toyota Prius Insurance depends on. Following is the list of companies that offer Toyota Prius Insurance:
- State Farm: State Farm has a market share of 9.3% and offers the average annual premium insurance for full coverage for $1,454.
- Geico: Geico has a market share of 6.6% and offers the average annual premium of Toyota Prius insurance for $1,283.
- Amica: Amica gives the average annual premium insurance for full coverage for $1,365.
- Progressive: Progressive has a market share of 5.6%, and offers discounts for security and safety systems in your Toyota Prius.
- USAA: USAA has a market share of 3.3% and offers the average annual premium insurance for full coverage for $1,198.
Cost of Insuring Toyota Prius VS its Competitors
Compared to the other competitors in the market, the Toyota Prius hybrid stands out for its affordable auto insurance prices. Toyota Prius Hybrid has an average of $322 for Comprehensive coverage, $532 for collision coverage, and $316 for liability coverage. The highest insurance among the competitors is for Chrysler Pacifica Hybrid, with $370 for comprehensive coverage, $656 for collision coverage, and $338 for liability coverage.
The Ford Fusion Hybrid offers an average of $322 for comprehensive coverage, $656 for collision coverage, and $466 for liability coverage. The Buick LaCrosse offers an average of $320 for comprehensive coverage, $566 for collision coverage, and $338 for liability coverage. The Chevrolet Volt offers an average of $370 for comprehensive coverage, $774 for collision coverage, and $398 for liability coverage.
Toyota Prius Hybrid auto insurance is affordable and quite cheap compared to its competitors. It offers the best minimum coverage which is the liability coverage. It can be insured for a year for $1,306.
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