How to Save on Toyota Rav4 Insurance in Durham

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The recommended way to get the cheapest Toyota Rav4 insurance in Durham is to compare prices once a year from insurers who provide auto insurance in North Carolina. Rate comparisons can be done by following these steps.

  • First, try to learn about what is in your policy and the steps you can take to prevent expensive coverage. Many rating criteria that increase rates such as distracted driving and an unfavorable credit rating can be rectified by making minor driving habit or lifestyle changes.
  • Second, compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from a single company like Progressive or Allstate, while independent agents can provide rate quotes from multiple companies.
  • Third, compare the new rate quotes to your existing coverage and see if you can save money. If you can save money and switch companies, verify that coverage does not lapse between policies.
  • Fourth, tell your current agent or company of your decision to cancel your current policy and submit the application along with any required down payment to the newly selected company. As soon as you have the new policy, keep the new proof of insurance paperwork in your vehicle's glove compartment or console.

The key aspect of shopping around is that you'll want to compare the same level of coverage on each price quote and and to compare as many car insurance companies as possible. This provides a fair price comparison and the best rate selection.

Insurance for Toyota Rav4A recent auto insurance study revealed that over 70% of consumers renewed their policy with the same company for more than four years, and about 40% of consumers have never taken the time to shop around. Drivers in Durham can save approximately 10% each year just by getting comparison quotes, but they don't want to take the time to do a rate comparison.

If you have a policy now or need new coverage, take advantage of these tips to lower your rates without having to cut coverage. Locating the most cost-effective insurance policy in Durham is actually not that difficult if you follow our advice. Consumers just have to understand the most efficient way to shop their coverage around from many different companies.

Reducing your insurance rates can be quick and easy. The only requirement is to invest a few minutes comparing rates to find the company with affordable Durham car insurance quotes.

Comparing free rate quotes online is easy and it, makes it obsolete to spend time driving to local insurance agencies. Doing it all online has made agencies unnecessary unless you're the type of person who wants the professional guidance that you can only get from talking to an agent. Although, it is possible compare online quotes and get advice from an agent in your area.

The following companies have been selected to offer price quotes in Durham, NC. To get the best auto insurance in NC, we suggest you compare several of them to find the lowest car insurance rates.

Here's why insurance is not optional

Even though Durham Rav4 insurance rates can get expensive, insurance is required in North Carolina but also provides important benefits.

  • Just about all states have minimum mandated liability insurance limits which means you are required to carry a specific level of liability protection in order to license the vehicle. 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.
  • If you bought your Rav4 with a loan, almost every bank will make it a condition of the loan that you have insurance to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the lender may insure your Toyota at a much higher rate and force you to reimburse them a much higher amount than you were paying before.
  • Insurance protects not only your Toyota but also your financial assets. It will also cover many types of medical costs for you, any passengers, and anyone injured in an accident. Liability coverage also pays expenses related to your legal defense if anyone sues you for causing an accident. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.

The benefits of buying enough insurance more than offset the price you pay, particularly for liability claims. As of last year, the average driver in North Carolina is overpaying over $869 every year so smart consumers compare quotes once a year at a minimum to save money.

Toyota Rav4 detailed coverage information

The rate table displayed below covers detailed analysis of insurance prices for Toyota Rav4 models. Learning more about how prices are determined is important for drivers to make decisions on the best policy coverages.

Toyota Rav4 Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RAV4 2WD $220 $324 $326 $20 $98 $988 $82
RAV4 Sport 2WD $220 $324 $326 $20 $98 $988 $82
RAV4 4WD $220 $324 $326 $20 $98 $988 $82
RAV4 Limited 2WD $220 $324 $326 $20 $98 $988 $82
RAV4 Limited 4WD $220 $324 $326 $20 $98 $988 $82
RAV4 Limited 4WD $220 $324 $326 $20 $98 $988 $82
RAV4 Sport 4WD $220 $324 $326 $20 $98 $988 $82
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Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Price estimates do not factor in vehicle location which can change insurance rates considerably.

Higher deductibles save money

When buying insurance, a common question is which deductibles should you choose. The comparison tables below help summarize the differences in price between high and low coverage deductibles. The first pricing table uses a $250 comprehensive and collision deductible and the second pricing table uses a $500 deductible.

Toyota Rav4 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RAV4 2WD $192 $324 $250 $14 $74 $879 $73
RAV4 Sport 2WD $192 $324 $250 $14 $74 $879 $73
RAV4 4WD $192 $324 $250 $14 $74 $879 $73
RAV4 Limited 2WD $192 $324 $250 $14 $74 $879 $73
RAV4 Limited 4WD $192 $324 $250 $14 $74 $879 $73
RAV4 Limited 4WD $192 $324 $250 $14 $74 $879 $73
RAV4 Sport 4WD $192 $324 $250 $14 $74 $879 $73
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Toyota Rav4 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RAV4 2WD $156 $262 $250 $14 $74 $756 $63
RAV4 Sport 2WD $156 $262 $250 $14 $74 $756 $63
RAV4 4WD $156 $262 $250 $14 $74 $756 $63
RAV4 Limited 2WD $156 $262 $250 $14 $74 $756 $63
RAV4 Limited 4WD $156 $262 $250 $14 $74 $756 $63
RAV4 Limited 4WD $156 $262 $250 $14 $74 $756 $63
RAV4 Sport 4WD $156 $262 $250 $14 $74 $756 $63
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Premium costs do not factor in specific garaging location which can alter price quotes substantially.

Using the premium rates above, we can conclude that using a $250 deductible could cost the average driver approximately $10 more each month or $120 a year than quoting the higher $500 deductible. Since the policyholder would be required to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you normally go more than 25 months between claims, you would probably come out ahead if you elect the higher deductible. Here is how you can make your own decision.

Average monthly premium for $250 deductibles: $73
Average monthly premium for $500 deductibles (subtract): - $63
Monthly savings from raising deductible: $10
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $10
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

The illustration below shows how choosing a deductible and can affect Toyota Rav4 premium costs for different age groups. The data assumes a married female driver, full physical damage coverage, and no discounts are taken into consideration.

Annual premiums for males versus females in Durham

The illustration below shows the difference between Toyota Rav4 premium costs for male and female drivers. The rate quotes are based on a clean driving record, no claims, comp and collision included, $250 deductibles, single status, and no discounts are factored in.

Full coverage versus liability only rates

The chart below illustrates the difference between Toyota Rav4 insurance costs when comparing full coverage to state minimum liability only. The data is based on no violations or claims, $250 deductibles, marital status is single, and no discounts are applied.

Should you pay for full coverage?

There is no exact rule for eliminating full coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

For example, let's assume your Toyota Rav4 claim settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after paying your deductible. If you are currently paying more than $300 a year for comprehensive and collision coverage, then you might consider buying liability only.

There are some circumstances where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

Save a ton on Toyota Rav4 insurance in Durham with these auto insurance discounts

Car insurance is not cheap, but you might find some hidden discounts that many consumers don't even know exist. Some of these discounts will be visible at the time you complete a quote, but a few need to be specially asked for in order for you to get them.Auto insurance discounts

  • Lower Rates for Military - Having a deployed family member can result in better auto insurance rates.
  • Low Mileage Discounts - Driving less can earn cheaper premium rates.
  • Accident-Free Discounts - Durham drivers who stay claim-free pay less compared to bad drivers.
  • Renewal Discounts - A few insurance companies allow discounts for buying a new policy prior to your current Rav4 insurance policy expiring. This discount can save up to 10%.
  • Defensive Driver Discount - Taking a class that teaches defensive driver techniques is a good idea and can lower rates and easily recoup the cost of the course.
  • Anti-lock Brake System - Cars with ABS braking systems or traction control have fewer accidents and earn discounts up to 10%.
  • Include Life Insurance and Save - If the company offers life insurance, you could get better rates if you take out life insurance from them.
  • Organization Discounts - Having an affiliation with qualifying employment or professional organizations may earn a discount on your policy.
  • Bundled Policy Discount - When you combine your auto and home insurance and insure them both with the same insurance company you could save at least 10% off all policies.
  • Senior Citizen Discount - Seniors can possibly qualify for a small discount on rates.

As a disclaimer on discounts, most discounts do not apply to all coverage premiums. Most only cut specific coverage prices like physical damage coverage or medical payments. So even though you would think it's possible to get free car insurance, companies wouldn't make money that way. But any discount will positively reduce your overall bill.

The example below shows the comparison of Toyota Rav4 insurance costs with and without discounts being applied to the rates. The premiums assume a female driver, no tickets, no at-fault accidents, North Carolina state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, multi-policy, homeowner, claim-free, and safe-driver discounts applied.

Larger auto insurance companies and some of the discounts are included below.

  • Progressive policyholders can earn discounts including online signing, continuous coverage, online quote discount, multi-vehicle, multi-policy, good student, and homeowner.
  • Farmers Insurance has discounts for multi-car, alternative fuel, pay in full, teen driver, business and professional, mature driver, and homeowner.
  • Farm Bureau offers premium reductions for multi-vehicle, renewal discount, 55 and retired, multi-policy, and driver training.
  • State Farm may have discounts that include multiple autos, good student, defensive driving training, Steer Clear safe driver discount, accident-free, Drive Safe & Save, and multiple policy.
  • GEICO offers discounts for good student, multi-vehicle, driver training, seat belt use, multi-policy, and emergency military deployment.
  • SAFECO may offer discounts for homeowner, teen safe driver, accident prevention training, anti-lock brakes, and teen safety rewards.
  • Liberty Mutual discounts include new move discount, safety features, new vehicle discount, newly married, good student, and exclusive group savings.

When getting a coverage quote, ask each company or agent the best way to save money. Some discounts may not apply in Durham. To choose companies who offer online Toyota Rav4 insurance quotes in North Carolina, follow this link.

North Carolina auto insurance company ratings

Insuring your vehicle with a highly-rated car insurance provider is hard considering how many companies sell insurance in North Carolina. The company ratings in the lists below could help you select which insurers to look at buying from.

Top 10 Durham Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. AAA Insurance
  4. Nationwide
  5. Allstate
  6. State Farm
  7. The Hartford
  8. Safeco Insurance
  9. Progressive
  10. American Family