Car Insurance for a Toyota Prius

In most states, car insurance is required by law for all drivers. The national average cost of auto insurance is $ 1,674 per year for fully comprehensive insurance based on a sample listing for a 2019 Toyota Camry.

However, car insurance premiums are personalized based on factors such as your state, age, and the type of car you drive. For a Toyota Prius, the average annual cost of auto insurance is $ 1,740, according to the Bankrate 2021 study of reported annual premiums by Quadrant Information Services.

Bankrate reviewed the auto insurance offers for a 2019 Toyota Prius from several of the largest insurance providers and examined some of the factors that affect premiums. The quotes in this study are based on the base model of the Toyota Prius, so it is possible that average prices for higher-end models could be more expensive.

How much does it cost to insure a Toyota Prius?

The make and model of your vehicle will affect the cost of your auto insurance, among other factors. While the nationwide average price for the 2019 Toyota Prius is $ 1,740 per year, each auto insurance company charges a different rate for the same makes and models. Here are some of the main factors that affect Prius insurance costs:

• Crash Rate Statistics: The Toyota Prius is known to be a very safe vehicle. The last Prius model years have been awarded the “Top Safety Pick” badge by the Insurance Institute for Highway Safety (IIHS). Safe cars can be cheaper to insure because they are less likely to suffer major damage in a collision.
• Price of the parts: Prius parts tend to be cheaper because they don’t need to be imported, which can also help reduce insurance costs. If parts like the Prius electric motor need to be repaired or replaced after an accident, this can be more expensive than replacing a gas-powered vehicle engine. Depending on the insurer, the overall part prices can lead to lower tariffs compared to other brands.
• Safety devices: Newer Toyota Prius models have advanced safety features such as stability control, an advanced airbag system, pre-collision warning system, intelligent parking assistant, blind spot monitoring and more. These safety features reduce the risk of accidents and can therefore also help to lower insurance costs.

Car insurance for a Toyota Prius

When compared to the nationwide average cost of car insurance (based on a Toyota Camry), Prius rates don’t differ too much. The average rate for full coverage is slightly above the national average of $ 1,674 per year, which is likely due to the vehicle’s hybrid components, which can be more expensive to repair or replace. For the minimum insurance that only offers liability insurance, the Prius actually runs a little cheaper than the average rates for the Camry. Although every Prius owner pays a different insurance plan, these averages can be useful for comparison purposes.

Toyota Prius car insurance	Average annual premium
Minimum coverage	$ 497
Full coverage	$ 1,740

Cheapest car insurance for Toyota Prius

Although the average annual cost of Toyota Prius auto insurance with full coverage is slightly higher than the national average, there are some insurance carriers that insure this make and model at a lower price based on the annual premiums listed.

To illustrate this, Bankrate compared the cheapest car insurance rates for the Toyota Prius from five of the largest car insurance companies in terms of market share. These providers are among the top auto insurances rated by Bankrate. As you can see from the differences between Erie and other national providers, you can use offers from more than one insurer to determine which tariff is best for your situation.

Average annual premium for fully comprehensive insurance according to the model

Toyota Prius Features That Affect Insurance Costs

The Toyota Prius has many of the latest safety technologies. The security features of the Prius are believed to be effective in preventing accidents and vehicle theft. Given that this make and model is some of the safest on the road (based on IIHS ratings), it’s no surprise that the cost of car insurance is pretty much in line with the national average for a standard economy sedan .

Some of the safety features found on some newer Toyota Prius model years include the following:

• Blind spot monitor: The Prius LE and LE AWD-e are equipped with a blind spot monitoring system, which also has a cross traffic warning sensor at the rear, which helps to avoid accidents when changing lanes.
• Toyota Safety Sense: Every new Prius model is equipped with Toyota Safety Sense, a package that includes a collision warning system with pedestrian detection, lane departure warnings and traffic sign assistants.
• Immobilizer: The immobilizer helps prevent theft. If the vehicle does not recognize the chip embedded in the Smart Key Fob when it is plugged into the ignition, the engine will not start.
• Vehicle proximity notification system: The Vehicle Proximity Notification System (VPNS) warns the driver if his vehicle is approaching an object, pedestrian or another car.
• Advanced airbag system: Every new Prius model is equipped with an advanced airbag system that makes the vehicle safer for all passengers, including front and passenger airbags, side airbags on the front seat, passenger seat cushion airbag, driver’s knee airbag, rear airbags, and front and rear curtain airbags. Shield airbags.

Other vehicle insurance coverage for a Toyota Prius

Unless you live in Virginia or New Hampshire, car insurance is required by law for all Prius owners and other drivers. Most states require drivers to wear at least minimum coverage that includes personal liability insurance and personal injury protection (PIP) if you live in a healthy state.

However, Prius owners may consider purchasing optional coverage for greater financial protection. Valuable recommendations for Toyota Prius owners can include roadside assistance, new car replacement insurance, and accident forgiveness. When you lease or finance a new Prius, in the event of a total write-off, you can benefit from gap insurance as it helps repay the loan amount that exceeds your insurer’s actual cash value payout.

Remember that adding endorsements to your car insurance policy can increase your Prius insurance costs. However, auto insurances usually offer a variety of discounts that can help make up the price.

methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and airlines in all 50 states and Washington, DC Coverage Limits:

• $ 100,000 personal injury liability per person
• $ 300,000 liability per accident
• $ 50,000 property damage liability per accident
• $ 100,000 personal injury from an uninsured motorist per person
• $ 300,000 personal injury to an uninsured driver per accident
• $ 500 deductible in case of collision
• $ 500 deductible

To set the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Prius, commute five days a week and drive 12,000 miles a year.

These are sample rates and should only be used for comparison purposes.

source https://collegeeducationnewsllc.com/car-insurance-for-a-toyota-prius/