Who Has Affordable Oakland Auto Insurance for a Toyota Camry?

Finding affordable auto insurance for a Toyota Camry depends on a very complex rating algorithm that uses multiple factors such as how old the Camry is, whether or not you garage your vehicle, and your motor vehicle report. Drivers in California pay around $872 annually to insure their Camry, but that price is an approximation calculated using a 50-year-old married female driver with both comprehensive and collision coverage and $1,000 deductibles.

It’s more than likely you are not 50 and maybe not even a female, possibly single instead of married, or maybe you have a speeding ticket that needs to be factored in. Different coverage needs are the reason why the only way to find the cheapest insurance price for your Toyota is to do a thorough rate comparison.

Insure Your Toyota for Less

Your Toyota’s trim level can impact the coverage cost, so the price you will pay to insure a Camry LE will be $150 cheaper than the cost to insure the more well-appointed Camry Hybrid trim level, as shown in the prices below.

Toyota Camry Insurance Rates in Oakland, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $162 $300 $416 $24 $124 $1,026 $86
Camry SE $162 $354 $416 $24 $124 $1,080 $90
Camry XLE $162 $354 $416 $24 $124 $1,080 $90
Camry Hybrid $184 $354 $470 $28 $140 $1,176 $98
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Above prices assume married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Estimates do not factor in Oakland location which can influence rates noticeably.

Shopping around for budget car insurance is easier said than done, and finding out which companies offer the most affordable car insurance rates for a Toyota Camry will require even more shopping around. Every auto insurer has a proprietary formula for determining rates, so first we will examine the car insurance companies with the overall cheapest rates in Oakland, CA.

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Rankings for the cheapest car insurance companies in California
Rank Company Cost Per Year
1 USAA $1,121
2 Wawanesa $1,146
3 CSAA $1,186
4 Century National $1,214
5 Nationwide $1,263
6 21st Century $1,325
7 Grange $1,491
8 Allstate $1,497
9 GEICO $1,513
10 Mercury $1,548
11 Progressive $1,558
12 Allied $1,588
13 The Hartford $1,623
14 MetLife $1,654
15 State Farm $1,733
16 Unitrin $1,750
17 Esurance $1,756
18 Bristol West $1,777
19 Travelers $1,860
20 Farmers $1,966
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USAA quotes some of the best car insurance rates in Oakland at around $1,121 annually. This is $530 less than the average policy premium paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide also make the cut as some of the cheapest Oakland, CA car insurance companies.

As depicted above, if you buy coverage from Nationwide and switched to Wawanesa, you might realize yearly savings of upwards of $117. Customers with 21st Century could save as much as $179 a year, and Grange customers might reduce prices by as much as $345 a year.

Be aware that those rates are averages for all types of drivers and the different vehicles they drive and and are not calculated with an exact zip code location for a Toyota Camry. So the insurer that can offer you the best rate may not even be in the top 24 companies shown above. That helps illustrate why you need to compare rates from multiple companies using your own individual information.

The chart below illustrates how choosing a deductible can influence annual premium costs when quoting cheap insurance for a Toyota Camry. The rates are based on a married male driver, full coverage, and no discounts are factored in.

The chart above illustrates that a 40-year-old driver could lower rates by $416 a year by switching from a $100 deductible up to a $500 deductible, or save $626 by changing to a $1,000 deductible. Younger drivers, such as the 20-year-old example, could potentially save $1,398 annually by using higher deductibles when buying full coverage. When increasing deductibles, it will be important to have additional funds in a savings account to be able to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.

Full coverage or liability only

Finding the cheapest car insurance is the goal of the majority of vehicle owners, and one good way to pay less for insurance for a Toyota Camry is to not insure for full coverage. The information below shows the difference between insurance costs with liability coverage only compared to full coverage. The prices are based on no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.

On average, full coverage costs $2,308 per year more than just buying liability insurance. That is a significant amount which raises the question when is the right time to remove full coverage. There isn’t a written rule that is best for determining when to drop full coverage, but there is a guideline you can consider. If the annual cost of having full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

Impact of citations and accidents on Oakland insurance rates

The easiest method to snag cheap car insurance premiums in California for a Camry is to pay attention while driving and not receive tickets or have accidents. The illustration below illustrates how violations and at-fault collisions can drive up premium costs for each age group. The price estimates are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.

In the previous chart, the average cost of an auto insurance policy in California per year with no violations or accidents is $2,199. Factor in two speeding tickets and the average cost hikes up to $2,936, an increase of $737 each year. Then add in one accident along with the two speeding tickets and the annual cost of car insurance for a Toyota Camry jumps again to an average of $3,697. That’s an increase of $1,498, or $125 per month, just for not being more responsible behind the wheel!