Auto Insurance Quotes for a Toyota FJ Cruiser in Memphis

We don’t have to tell you that auto insurance companies don’t want you to look for cheaper rates. People who shop around for cheaper prices will, in all likelihood, buy a different policy because they have a good chance of finding a policy with more affordable rates. A recent survey found that consumers who compared rates once a year saved as much as $72 a month compared to other drivers who never shopped around for lower prices.

If finding the cheapest price on insurance is your ultimate target, knowing how to compare insurance premiums can help you be more efficient.

If your goal is the lowest price, then the best way to get discount Toyota FJ Cruiser insurance in Memphis is to regularly compare price quotes from different companies who sell auto insurance in Tennessee.

• Step 1: Try to learn about the different coverages in a policy and the factors you can control to prevent expensive coverage. Many rating factors that increase rates such as accidents, careless driving, and a low credit score can be improved by making minor driving habit or lifestyle changes. Read the full article for the details to get cheaper coverage and get additional discounts that may be available.
• Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from one company like Progressive or Allstate, while independent agencies can provide price quotes from multiple insurance companies.
• Step 3: Compare the new rate quotes to your existing coverage and determine if cheaper FJ Cruiser coverage is available in Memphis. If you find a lower rate quote and change companies, make sure there is no lapse in coverage.
• Step 4: Provide proper notification to your current company to cancel your existing policy and submit payment and a completed application to your new company or agent. Once the paperwork is finalized, place the new proof of insurance certificate in an accessible location in your vehicle.

One thing to point out is to try to compare identical limits and deductibles on every price quote and to quote with as many carriers as you can. Doing this helps ensure an apples-to-apples comparison and a better comparison of the market.

Toyota FJ Cruiser insurance charts and tables

The coverage information shown below covers detailed analysis of prices for Toyota FJ Cruiser models. Having a good grasp of how insurance policy rates are formulated can be of help when making smart choices when selecting a policy.

Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Rate information does not factor in garaging location in Memphis which can alter auto insurance rates noticeably.

Physical damage deductibles: Should you raise them?

The hardest decision when buying coverage is which deductibles should you choose. The tables below can help you visualize the rate differences when you buy lower versus higher comp and collision deductibles. The first set of prices uses a $250 comprehensive and collision deductible and the second rate chart uses a $1,000 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Premium amounts do not factor in specific location which can increase or decrease price quotes considerably.

Based on the data above, we can derive that using a $250 deductible costs an average of $20 more each month or $240 every year than choosing the higher $1,000 deductible. Since the policyholder would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you normally average at least 38 months between claims, you would save money if you choose the higher deductible. Below is an example of how you can make this decision for your own policy.

An important sidenote is that a higher deductible level means you will have to cover more of the damage yourself when you have to file a claim. That will necessitate some savings in order to pay more to get your vehicle repaired.

The illustration below shows how choosing a deductible and can impact Toyota FJ Cruiser premium costs for different age groups of insureds. The costs are based on a single female driver, full physical damage coverage, and no additional discounts are factored in.

Annual premiums comparing men and women in Memphis

The chart below illustrates the comparison of Toyota FJ Cruiser car insurance costs for male and female drivers. The rates are based on no claims or driving citations, full physical damage coverage, $1,000 deductibles, single marital status, and no discounts are applied.

Price comparison of only insuring for liability

The diagram below compares Toyota FJ Cruiser auto insurance rates with and without full coverage. The data is based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are applied.

When to drop comp and collision

There isn’t a written rule for phasing out comp and collision coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than about 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.

For example, let’s assume your Toyota FJ Cruiser replacement cost is $6,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $5,000 after paying your policy deductible. If it’s costing in excess of $500 a year for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.

There are some circumstances where dropping physical damage coverage is not a good idea. If you haven’t satisfied your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not remove full coverage.

Companies offer lots of discounts on Toyota FJ Cruiser insurance in Memphis

Car insurance can cost a lot, but there could be significant discounts that many consumers don’t even know exist. Certain reductions will be credited when you complete an application, but some need to be inquired about before you will receive the discount. If you do not check that you are getting every discount available, you’re just leaving money on the table.

• Bundle and Save – If you combine your auto and home policies and place coverage with the same company they may give you a discount of nearly 15% which can help you find cheap FJ Cruiser insurance.
• Memphis Homeowners Pay Less – Owning a home in Memphis can save you money since owning and maintaining a home requires a higher level of personal finance.
• Multi-car Discount – Buying coverage for multiple cars or trucks on a single policy can reduce rates for all insured vehicles.
• Accident-Free Discounts – Memphis drivers who stay claim-free are rewarded with significantly better rates on Memphis car insurance quote in comparison to accident-prone drivers.
• Passenger Safety Discount – Options like air bags can get savings up to 30%.
• Life Insurance Discount – Car insurance companies who offer life insurance give a lower premium rate if you buy some life insurance too.
• First Accident Forgiveness – Not really a discount, but a few companies such as Progressive and Allstate will forgive one accident before they charge you more for coverage as long as you don’t have any claims prior to being involved in the accident.
• Payment Method – If you pay your entire premium ahead of time instead of monthly or quarterly installments you can avoid the installment charge.
• Anti-lock Brake System – Cars and trucks with ABS and/or traction control are much safer to drive so companies give up to a 10% discount.

Please keep in mind that most discounts do not apply to all coverage premiums. Most only reduce the price of certain insurance coverages like medical payments or collision. Just because it seems like adding up those discounts means a free policy, nobody gets a free ride.

The example below illustrates the comparison of Toyota FJ Cruiser insurance costs with and without discounts. The data is based on a male driver, no claims or driving citations, Tennessee state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, multi-policy, homeowner, claim-free, and safe-driver discounts applied.

To view insurance companies that offer the discounts shown above in Memphis, click here to view.

Coverages available on your insurance policy

Learning about specific coverages of your insurance policy helps when choosing the best coverages and the correct deductibles and limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. Below you’ll find typical coverage types found on the average insurance policy.

Collision coverage

Collision insurance pays to fix your vehicle from damage resulting from a collision with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like crashing into a ditch, crashing into a building, scraping a guard rail and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from lower value vehicles. Another option is to choose a higher deductible on your FJ Cruiser to get cheaper collision coverage.

Comprehensive (Other than Collision)

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as hitting a bird, hail damage and damage from a tornado or hurricane. The most a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Protection from uninsured/underinsured drivers

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and damage to your Toyota FJ Cruiser.

Because many people only purchase the least amount of liability that is required (25/50/15 in Tennessee), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.

Medical expense insurance

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses like hospital visits, ambulance fees and surgery. They can be used to fill the gap from your health insurance program or if you do not have health coverage. Coverage applies to you and your occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible

Coverage for liability

This will cover damage or injury you incur to other’s property or people by causing an accident. This insurance protects YOU against other people’s claims, and doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 25/50/15 that means you have $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged property.

Liability insurance covers claims like repair bills for other people’s vehicles, structural damage, emergency aid, medical expenses and pain and suffering. How much coverage you buy is your choice, but you should buy as large an amount as possible. Tennessee state law requires minimum liability limits of 25/50/15 but drivers should carry more coverage.

The next chart shows why the minimum limit may not provide adequate coverage.

Smart shoppers get results

As you quote Memphis car insurance, it’s not a good idea to sacrifice coverage to reduce premiums. There have been many situations where consumers will sacrifice collision coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your aim should be to purchase plenty of coverage at the best cost, but do not skimp to save money.

We just presented a lot of information how to reduce Toyota FJ Cruiser insurance rates online in Memphis. The key concept to understand is the more companies you get car insurance rates for, the more likely it is that you will get a better rate. Consumers may even find the lowest rates come from some of the lesser-known companies. Some small companies may only write in your state and offer lower car insurance rates than the large multi-state companies such as Progressive and GEICO.

Cheaper Toyota FJ Cruiser insurance in Memphis is attainable on the web and from local agencies, so you need to quote Memphis car insurance with both so you have a total pricing picture. Some insurance companies don’t offer the ability to get quotes online and most of the time these small insurance companies sell through independent insurance agencies.

For more information, feel free to browse the articles below:

• Teen Driving Statistics (GEICO)
• Who Has Cheap Memphis Auto Insurance Rates for Drivers with Bad Credit? (FAQ)
• What Auto Insurance is Cheapest for Drivers Under 25 in Memphis? (FAQ)
• Who Has Affordable Car Insurance Quotes for Felons in Memphis? (FAQ)
• Who Has the Cheapest Auto Insurance Rates for Handicapped Drivers in Memphis? (FAQ)
• Who Has Cheap Auto Insurance for a Toyota Corolla in Memphis? (FAQ)
• Who Has Affordable Car Insurance Quotes for Used Cars in Memphis? (FAQ)
• Who Has Cheap Memphis Auto Insurance for Seniors? (FAQ)
• Understanding Limits and Deductibles (Allstate)
• How to Avoid Buying a Flooded Car (Insurance Information Institute)
• Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)
• Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)