Best Toyota Camry Insurance in Oakland

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Unfortunately, about 70% of customers have remained with the same car insurance company for more than four years, and about 40% of consumers have never compared rates with other companies. With the average premium in California being $1,390, drivers could save themselves almost 35% a year just by shopping around, but they just assume it takes a lot of time to save money by comparing rate quotes.

Discount Toyota Camry insuranceThe preferred way to get budget Toyota Camry insurance in Oakland is to annually compare prices from insurers who provide car insurance in California. Price quotes can be compared by following these steps.

  • First, take a few minutes and learn about how insurance works and the changes you can make to keep rates in check. Many things that cause high rates like your driving record and a negative credit score can be rectified by making lifestyle changes or driving safer. Keep reading for information to help reduce premium rates and get bigger discounts that may have been overlooked.
  • Second, compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like Progressive and State Farm, while independent agents can give you price quotes for a wide range of insurance providers.
  • Third, compare the new rates to the premium of your current policy to see if you can save by switching companies. If you can save some money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
  • Fourth, give notification to your current company of your decision to cancel your current coverage. Submit payment and a signed application to the newly selected company. Once received, store the proof of insurance certificate in an accessible location in your vehicle.

A key point to remember is to try to use identical deductibles and limits on every quote request and and to get rates from as many different companies as possible. Doing this provides the most accurate price comparison and a complete selection of prices.

Why Your Insurance Rates might be higher

Smart consumers have a good feel for a few of the rating criteria that go into determining the level of your policy premiums. When consumers understand what positively or negatively impacts your premiums, this allows you to make good choices that could help you find lower insurance prices. Multiple criteria are part of the calculation when you get a price on insurance. Some of the criteria are obvious like an MVR report, but other factors are not quite as obvious like your vehicle usage and annual miles driven.

The itemized list below are some of the factors used by insurance companies to determine prices.

  • Low deductibles cost more - Physical damage coverage, also called comprehensive and collision insurance, covers damage that occurs to your Toyota. Some examples of claims that would be covered could be collision with another vehicle, flood damage, and rolling your vehicle. The deductibles you choose are the amount of money you are required to pay before a claim is paid by your company. The more of the claim you're willing to pay, the lower your rates will be.
  • Responsible credit scores equal low prices - Having a bad credit score can be an important factor in your rate calculation. Insureds with high credit scores tend to be more responsible and file fewer claims than those with bad credit. If your credit history can use some improvement, you could potentially save money when insuring your Toyota Camry by repairing your credit.
  • Too many policy claims will drive premiums up - Insurance companies in California generally give lower rates to drivers that do not abuse their auto insurance. If you tend to file frequent claims, you can expect either higher rates or even cancellation. Auto insurance is meant to be used in the event of larger claims.
  • Get hitched and pay less - Walking down the aisle can actually save you money on insurance. Marriage is viewed as being more financially stable and it's proven that married couples file fewer claims.
  • Know your vehicle's NHTSA crash test rating - Safer cars tend to have better insurance rates. The safest vehicles reduce occupant injuries and lower rates of occupant injuries means lower claim amounts and lower rates for you.
  • Loss statistics for a Toyota Camry - Companies include the past claim trends for vehicles to help set a rate to offset losses. Models that tend to have higher claim frequency or loss amount will have a higher cost to insure.

    The data below shows the compiled insurance loss statistics for Toyota Camry vehicles. For each coverage category, the claim probability for all vehicles, regardless of make or model, is considered to be 100. Numbers under 100 mean the vehicle has better than average losses, while values over 100 indicate frequent claims or an increased chance of larger losses than average.

    Toyota Camry Insurance Claim Statistics
    Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Toyota Camry 110 94 102 148 145 107
    Toyota Camry Hybrid 124 100 110 118 127 96
    BETTER
    AVERAGE
    WORSE

    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Toyota Camry insurance statistics and information

The coverage table displayed next showcases a range of insurance costs for Toyota Camry models. Knowing how car insurance prices are established is important for drivers to make decisions on which insurance to purchase.

Toyota Camry Insurance Rates in Oakland, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $266 $524 $574 $34 $172 $1,570 $131
Camry SE $266 $618 $574 $34 $172 $1,664 $139
Camry XLE $266 $618 $574 $34 $172 $1,664 $139
Camry Hybrid $300 $618 $650 $38 $194 $1,800 $150
Get Your Own Custom Quote Go

Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Table data does not factor in zip code location which can affect premium rates substantially.

Physical damage deductibles: Should you raise them?

A question often asked by Oakland drivers is which deductibles should you choose. The following insurance rates may help you to understand the costs and benefits when you choose different policy deductibles. The first pricing table uses a $100 physical damage coverage deductible and the second price chart uses a $500 deductible.

Toyota Camry insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $380 $686 $442 $26 $132 $1,691 $141
Camry SE $380 $810 $442 $26 $132 $1,815 $151
Camry XLE $380 $810 $442 $26 $132 $1,815 $151
Camry Hybrid $430 $810 $500 $30 $150 $1,945 $162
Get Your Own Custom Quote Go
Toyota Camry insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $278 $464 $442 $26 $132 $1,342 $112
Camry SE $278 $546 $442 $26 $132 $1,424 $119
Camry XLE $278 $546 $442 $26 $132 $1,424 $119
Camry Hybrid $314 $546 $500 $30 $150 $1,540 $128
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Information does not factor in the specific area where the vehicle is garaged which can decrease or increase prices noticeably.

Based on the data above, we can derive that using a $100 deductible will cost you approximately $31 more each month or $372 a year than selecting the higher $500 deductible. Since you would have to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average at a minimum 13 months between claim filings, you would probably be better off if you decide on a higher deductible. Below is how you can do this calculation yourself.

Average monthly premium for $100 deductibles: $151
Average monthly premium for $500 deductibles (subtract): - $120
Monthly savings from raising deductible: $31
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $31
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One big caveat is that raising deductibles to get cheaper rates results in a higher out-of-pocket expense when you have a comprehensive or collision claim. You need to make sure you have enough disposable income in order to pay the higher deductible in order to repair your vehicle.

The illustration below shows how different deductible levels and can increase or decrease Toyota Camry insurance costs for each age group. The rates are based on a married female driver, comp and collision included, and no discounts are applied.

Careless Oakland drivers pay higher rates

The diagram below shows how violations and at-fault claims can increase Toyota Camry insurance rates for each age group. The premiums assume a single male driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.

Do you qualify for discounts on Toyota Camry insurance in Oakland?

Car insurance is expensive, but there could be significant discounts that could help you make your next renewal payment. Certain discounts will be applied at quote time, but a few need to be asked for before you get the savings.Discount car insurance

  • Multi-car Discount - Having several vehicles with the same company can get a discount on all vehicles.
  • Discount for Life Insurance - Larger insurance carriers have lower prices if you buy life insurance.
  • Buy New and Save - Insuring a vehicle that is new may earn a small discount since newer models have better safety ratings.
  • Passive Restraints and Air Bags - Cars that have air bags or automatic seat belts can get savings up to 30%.
  • Own a Home and Save - Simply owning a home can save you money because it shows financial diligence.
  • Seat Belt Discounts - Drivers who require all vehicle occupants to fasten their seat belts can save a little off the medical payments premium.
  • Sign Early and Save - Select companies give a discount for switching to them before your current Camry insurance policy expires. This can save 10% or more.
  • Discount for Low Mileage - Fewer annual miles on your Toyota may allow you to get better rates on cars that stay parked.
  • Good Grades Discount - Getting good grades can be rewarded with saving of up to 25%. Most companies allow this discount until age 25.
  • Drivers Ed for Students - Have your child successfully take a driver's education course if offered at their school.

One last thing about discounts, most discount credits are not given to all coverage premiums. Most cut specific coverage prices like liability, collision or medical payments. So despite the fact that it appears you could get a free car insurance policy, you're out of luck.

The illustration below shows the difference between Toyota Camry auto insurance costs with and without policy discounts. The costs are based on a female driver, no claims or violations, California state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, homeowner, marriage, safe-driver, and multi-policy discounts applied.

A list of car insurance companies and a summarized list of policyholder discounts are:

  • State Farm discounts include Steer Clear safe driver discount, student away at school, passive restraint, multiple policy, and good student.
  • Progressive may include discounts for good student, multi-vehicle, continuous coverage, online signing, online quote discount, and multi-policy.
  • Progressive may have discounts that include online signing, good student, online quote discount, continuous coverage, and multi-policy.
  • MetLife offers discounts including accident-free, good driver, defensive driver, multi-policy, and claim-free.
  • Farm Bureau includes discounts for safe driver, driver training, youthful driver, multi-vehicle, renewal discount, and good student.
  • GEICO policyholders can earn discounts including multi-policy, air bags, seat belt use, five-year accident-free, daytime running lights, and driver training.
  • SAFECO may offer discounts for teen safe driver, anti-lock brakes, teen safety rewards, drive less, and bundle discounts.

It's a good idea to ask every prospective company which discounts you qualify for. Some discounts may not apply to policies in your state.

How to find a good Oakland auto insurance company

Picking a high-quality insurer can be rather challenging considering how many companies there are to choose from in Oakland. The ranking data displayed below could help you decide which insurers you want to consider when comparing rate quotes.

Top 10 Oakland Car Insurance Companies Ranked by Customer Service

  1. AAA of Southern California
  2. GEICO
  3. State Farm
  4. The Hartford
  5. Mercury Insurance
  6. The General
  7. Progressive
  8. Allstate
  9. AAA Insurance
  10. American Family

Top 10 Oakland Car Insurance Companies by A.M. Best Rank

  1. USAA - A++
  2. Travelers - A++
  3. State Farm - A++
  4. GEICO - A++
  5. Esurance - A+
  6. Nationwide - A+
  7. Allstate - A+
  8. Mercury Insurance - A+
  9. Progressive - A+
  10. Titan Insurance - A+

The best insurance company isn't always the cheapest

People switch companies for many reasons like delays in paying claims, denial of a claim, lack of trust in their agent or poor customer service. No matter why you want to switch, finding a new company can be easier than you think.

Some insurance providers may not offer online quoting and many times these regional insurance providers work with local independent agents. Budget-friendly insurance in Oakland can be bought both online in addition to local insurance agencies, and you need to price shop both in order to have the best price selection to choose from.

While you're price shopping online, it's not a good idea to sacrifice coverage to reduce premiums. There have been many situations where an insured dropped liability coverage limits only to discover later that the few dollars in savings costed them thousands. The aim is to buy the best coverage you can find at the best possible price, but do not skimp to save money.

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