The insurance cost of the Toyota Prius may encourage you to buy this eco-friendly electric car. If you are thinking of becoming an owner of this popular car, it is advised to check the factors that affect the premium rates you will pay for it. The average cost of this car is $1,166 per year, which is nearly $100 per month.
The Toyota Prius offers various money-saving safety features that can help in reducing the insurance rates for your car. These include anti-lock brakes, stability control, airbags, anti-theft system, brake assist, child safety locks, traction control, 4-wheel ABS, lane departure warning, and others.
Factors that impact the cost of Toyota Prius insurance
The trim and model of your car bring a great impact on the total cost you will have to pay for auto insurance coverage. Some of the common factors are:
Age of the vehicle
The insurance cost of older models of Toyota Prius is less than new models. The insurance rate for the 2020 Toyota Prius is $1,306, while the premiums for the 2010 Toyota Prius are $1,046.
Age of driver
The age of a driver also plays a significant impact in the Toyota Tacoma insurance policy. The car insurance policy for 30 years old drivers will be more than auto insurance for 40 year old drivers.
Where driver lives
The location where a driver lives can also impact the Toyota Prius premium rates. A driver living in a city which is safe and less populated will be charged a lower insurance rate as compared to those living in highly populated areas.
Driving record
Your driving record is another factor that can have an impact on the cost of your auto insurance policy. The teens and drivers in their 20’s have more violations on the driving record than experienced and older drivers.
It is recommended to shop around and compare multiple quotes from several companies to find the best deal.
Types of insurance you need for your Toyota Prius
Here are the kinds of insurance that you require for your Toyota Prius, no matter what make and model it is.
- Bodily injury liability – It is mandatory coverage in many states.
- Property damage liability – Many states require you to carry a minimum amount of this coverage.
- Personal injury protection/medical payments – If you met with an accident, it covers the cost of physical recovery for you as well as your passengers.
- Uninsured and underinsured motorist coverage – It protects you from paying for damage caused by someone with not enough insurance or the right kind of coverage.
Optional coverage includes:
- Collision coverage
- Comprehensive coverage
- Glass coverage
- GAP insurance
Ways to save money on Toyota Prius premium rates
There are a number of strategies that can help in saving money on your Toyota Prius auto insurance.
- Ask for a higher deductible
- Renew your auto insurance coverage to avoid lapses
- Avoid paying bills after the due date
- Take public transportation instead of driving your car
The best way to find the cheaper Toyota Prius is to take the help of Alias Insurance. Simply shop around and compare the best rates for your auto insurance policy. Find the right coverage at the best price.