 39, Male, Married, Colorado, 80130 |
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| Year/Make Model: 2020 Toyota Corolla |
| Ownership Status: 3 Years or More |
| Discounts: Automatic Card Payments, Smart Technology, Paperless, Snapshot |
| Selected Coverages With Progressive |
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| Bodily Injury Liability: $25,000 / $50,000 |
| Property Damage Liability: $25,000 |
| Uninsured Motorist Bodily Injury: No Coverage Comprehensive: $1,000 Deductible Collision: $1,000 Deductible |
| Other Rejected Coverages: Medical Payments, Uninsured Motorist, Rental Reimbursement, & Roadside Assistance |
Total 6 Month Premium: $972.50
Insurance Costs for a 2020 Toyota Corolla:
Insurance costs for a Corolla are typically affordable due to its safety features and reliability.
Liability-Only:
- Standard Drivers: $50–$80/month.
- High-Risk Drivers: $90–$140/month.
- Young Drivers (under 25): $85–$120/month.
Full Coverage:
- Standard Drivers: $120–$170/month.
- High-Risk Drivers: $180–$250/month.
- Young Drivers: $140–$200/month.
Factors That Affect Insurance Rates:
- Driver Profile:
- Clean driving records lower premiums.
- Violations or accidents raise costs.
- Location:
- Urban areas have higher rates due to traffic and theft risks.
- Coverage Level:
- Full coverage (liability, collision, and comprehensive) is more expensive but offers better protection.
- Vehicle Features:
- Advanced safety features in the Corolla may qualify for discounts.
Monthly Installments: $162.54
The client opted for a full coverage auto premium with Progressive. They chose to have a $1,000 deductible instead of a $500 deductible. When choosing a higher deductible on a full coverage policy, in return, it lowers your monthly premium. The reason for this, is that the carrier will assume that you will cover more of the expenses when it comes to filing a claim.
Ways to Save on Insurance:
- Safe Driving Programs: Use telematics programs like Progressive’s Snapshot or Geico’s DriveEasy.
- Multi-Policy Discount: Bundle auto insurance with renters or homeowners insurance.
- Higher Deductibles: Choosing a $1,000 deductible instead of $500 can lower premiums.
- Good Student Discount: Available for drivers under 25 with good grades.
- Compare Providers: Shop around for the best rates from multiple companies.