Finding cheaper auto insurance for a Toyota Camry in Texas doesn't take a ton of time, but it hinges on a lot of factors such as how far you drive to work, your credit rating, and driving citations. Drivers in Texas pay around $1,156 each year to insure their Camry, but that figure is a projection based upon a 40-year-old single female driver with both comprehensive and collision coverage and $500 deductibles.
There's a good chance you aren't exactly 40 years old or even a female, you might be married instead of single, or maybe you just want liability only instead of full coverage. Just a very minor change in rating factors or requested coverage amount could end up in a significant change in how much coverage for a Toyota Camry costs.
Car insurance coverage is unique to each driver, so this is why the way we recommend to find affordable rates for your Toyota is to compare as many rates as you can.
Vehicle trim level tends to have a direct effect on the insurance rate, so the cost to insure a Camry LE model will be $198 less than the insurance cost for the more costly Camry Hybrid trim level, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Estimates do not factor in garaging location in Texas which can raise or lower coverage rates considerably.
Shopping around for affordable auto insurance is easier said than done, and deciding which companies have the cheapest auto insurance rates for a Toyota Camry in Texas may require a little more work. Every auto insurer has a proprietary formula for establishing rates, so let's begin by examining the most competitive auto insurance companies in Texas.
It's important that readers know that Texas auto insurance rates are calculated based on many things that control the price you have to pay for coverage. Events such as a birthday, moving to a different location, or getting a speeding ticket may prompt premium changes that can make some companies more expensive than others.
Best Cheap Insurance Rates for Your Camry
Travelers has some of the best car insurance rates in Texas at around $1,041 annually. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also be considered some of the cheapest Texas insurance companies.
As the example above demonstrates, if you are a customer of Texas Farm Bureau and switched to Travelers, you might see a yearly savings of in the neighborhood of $158. Insureds with Germania Mutual may save as much as $215 a year, and Esurance insureds might see rate reductions of $338 a year.
To find the cheapest rates for your vehicle, click here or visit any of the low-priced companies below.
Understand that those prices are averages for all types of insureds and vehicles and do not take into consideration a specific rating modification for a Toyota Camry. So the auto insurance company that fits your age and vehicle best may not even be in the top 23 companies in the list above. That underscores the importance of why you need to compare rates from multiple companies using your own specific driver information and vehicle.
Discounts on Texas car insurance rates
Auto insurance companies that offer cheap quotes for a Toyota Camry may also offer premium discounts that may potentially lower prices by as much as 30% if you are eligible to receive them. A few popular companies and a partial list of their discounts are:
- Farm Bureau offers discounts including 55 and retired, safe driver, multi-vehicle, good student, and driver training.
- State Farm offers discounts for good driver, Steer Clear safe driver discount, anti-theft, passive restraint, safe vehicle, multiple autos, and multiple policy.
- Progressive may offer discounts for online signing, multi-policy, homeowner, online quote discount, and good student.
- Allstate may include discounts for defensive driver, anti-lock brakes, resident student, farm vehicle, and premier plus.
- Nationwide may have discounts that include family plan, business or organization, defensive driving, easy pay, multi-policy, Farm Bureau membership, and anti-theft.
- MetLife offers premium reductions for good driver, claim-free, good student, accident-free, and multi-policy.
The chart below compares car insurance rates with and without discounts. The premiums assume a female driver, no violations or claims, Texas state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with accident-free, claim-free, multiple policy, passive restraint, marriage, and safe-driver discounts applied. When drivers qualify for the discounts, theaverage amount saved on auto insurance for a Toyota Camry is 28% or $731.
Should you buy full coverage?
Saving money on auto insurance should be important to the majority of drivers, and a great way to find cheaper insurance for a Toyota Camry in Texas is to not buy comprehensive and collision coverage. The chart below compares insurance premiums with and without physical damage coverage. The data assumes a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are applied.
If averaged for all ages, full coverage costs an additional $2,256 per year more than insuring for liability only. That is a large expense which might make you wonder if buying full coverage is worth the money. There is no definitive rule to eliminate physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.
There are some cases where dropping full coverage is not in your best interest. If you haven't paid off your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should not drop full coverage.
The information below highlights how deductible selection can increase or decrease insurance premiums when getting quotes for cheap insurance for a Toyota Camry in Texas. The premiums assume a married female driver, full physical damage coverage, and no discounts are factored in.
In the chart above, a 30-year-old driver could lower rates by $408 a year by increasing from a $100 deductible up to a $500 deductible, or save $612 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old example, could reduce their rates as much as $870 annually by selecting a higher deductible.
If you make the decision to raise deductibles, it is a good idea to have emergency funds available to satisfy the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.