Find Affordable Toyota Camry Insurance in Lubbock

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We don't have to point out that fact that insurance companies don't want you quoting rates from other companies. People who shop around for cheaper rates will, in all likelihood, buy a different policy because there is a significant possibility of finding lower prices. A recent car insurance study revealed that people who shopped around annually saved as much as $865 annually as compared to drivers who never shopped around for cheaper prices.

If finding budget-friendly auto insurance in Lubbock is your ultimate objective, then understanding how to find and compare insurance coverage can save time and money.

Insurance for Toyota CamryTruthfully, the best way to find cheaper prices for car insurance rates in Lubbock is to start doing a yearly price comparison from insurers in Texas.

  1. Read about what is in your policy and the steps you can take to prevent high rates. Many rating factors that cause high rates such as multiple speeding tickets and a poor credit rating can be amended by making minor changes to your lifestyle. Continue reading for additional ideas to find cheap rates and earn larger discounts.
  2. Quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can provide rates from one company like GEICO and State Farm, while independent agencies can provide rate quotes from multiple sources.
  3. Compare the new rates to the premium of your current policy to see if cheaper Camry coverage is available in Lubbock. If you find a better price and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
  4. Provide notification to your current agent or company of your intent to cancel your current coverage and submit the required down payment along with the signed application to your new carrier. As soon as you receive it, place the new certificate of insurance in an accessible location in your vehicle.

The key aspect of shopping around is to make sure you're comparing identical coverages on every price quote and and to get price estimates from as many different companies as possible. Doing this ensures an accurate price comparison and the best price quote selection.

Eight Things That Influence Your Insurance Premiums

Lots of factors are part of the equation when you get your auto insurance bill. Some are pretty understandable such as your driving history, but some are not quite as obvious like your continuous coverage or your financial responsibility. The best way to find cheaper auto insurance is to take a look at some of the things that are used to determine the rates you pay for auto insurance. If you know what positively or negatively impacts your premiums, this allows you to make educated decisions that can earn you big savings.

Shown below are a few of the "ingredients" utilized by car insurance companies to help set your rate level.

  • Compare rates if you combine your policies - Some companies will give lower prices to buyers who carry more than one policy in the form of a multi-policy discount. Even if you're getting this discount you may still want to compare other Lubbock Camry insurance rates to ensure the best deal.
  • Insurance claims cost money - If you file claims often, you can expect either higher rates or even cancellation. Insurance companies in Texas provide the lowest premiums to people who are not frequent claim filers. Your car insurance is intended for major claims that would cause financial hardship.
  • Pleasure use saves money - The more miles you rack up on your Toyota in a year the more you'll pay to insure it. A lot of companies calculate prices partially by how you use the vehicle. Autos that are left in the garage qualify for better rates than vehicles that have high annual mileage. An improperly rated Camry may be costing you. Ask your agent if your auto insurance declarations sheet is rated on the correct usage.
  • Your location is important - Having an address in a rural area is a positive aspect when trying to find low car insurance rates. People who live in big cities tend to have more road rage incidents and much longer commute distances. Fewer drivers and short commutes corresponds to lower accident rates in addition to fewer liability claims.
  • Age of drivers impacts premiums - More mature drivers are more cautious drivers, are lower risk to insure, and receive fewer citations. Young drivers are known to be more careless in a vehicle therefore auto insurance rates are much higher.

    The following chart assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.

  • Affects performance affects auto insurance rates - The type of car you own makes a significant difference in determining your rates. Economy passenger cars generally have the cheapest insurance rates, but there are many factors that impact the final cost.

    The following data is based on a married female driver age 40, full coverage with $1000 deductibles, and no discounts or violations. It compares Toyota Camry rates compared to other models of vehicles that have a range of performance rating factors.

  • Safer occupants lowers premiums - Vehicles with high crash test scores cost less to insure. The safest vehicles reduce occupant injuries and any reduction in injury severity means less money paid by your insurance company and lower rates for you.
  • Gaps in coverage mean higher rates - Not having insurance can get your license suspended and your next policy will cost more because you let your insurance lapse. Not only will you pay higher rates, not being able to provide proof of insurance may result in a steep fine or even jail time.
  • Loss statistics for a Toyota Camry - Car insurance companies use statistical claims data when setting premium prices. Models that have increased losses will have increased rates.

    The table below shows the collected loss data for Toyota Camry vehicles. For each insurance policy coverage type, the claim probability for all vehicles, regardless of manufacturer or model, is considered to be 100. Values under 100 represent a good loss history, while values over 100 point to more claims or statistically larger losses.

    Toyota Camry Insurance Claim Statistics
    Vehicle Make and 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

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

Compare Toyota Camry insurance rates

Just remember that comparing all the rates in your area will increase your chances of finding a lower rate.

The companies shown below are ready to provide quotes in Texas. To get the best car insurance in Lubbock, it's highly recommended you visit two to three different companies in order to find the lowest rates.

Premium rates and analysis

The information below showcases detailed analysis of prices for Toyota Camry models. Having a good understanding how insurance quotes are determined can be useful when making smart choices when buying a car insurance policy.

Toyota Camry Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $254 $512 $430 $26 $128 $1,350 $113
Camry SE $254 $602 $430 $26 $128 $1,440 $120
Camry XLE $254 $602 $430 $26 $128 $1,440 $120
Camry Hybrid $286 $602 $486 $28 $146 $1,548 $129
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium amounts do not factor in zip code location which can influence auto insurance rates noticeably.

Physical damage deductibles: Should you raise them?

A question often asked by Lubbock drivers is which deductibles should you choose. The tables below sum up how much more you'll pay when you choose different coverage deductibles. The first table uses a $100 deductible and the second set of rates uses a $1,000 deductible.

Toyota Camry insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $328 $592 $382 $22 $114 $1,463 $122
Camry SE $328 $698 $382 $22 $114 $1,569 $131
Camry XLE $328 $698 $382 $22 $114 $1,569 $131
Camry Hybrid $370 $698 $430 $26 $128 $1,677 $140
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Toyota Camry insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $182 $312 $382 $22 $114 $1,012 $84
Camry SE $182 $368 $382 $22 $114 $1,068 $89
Camry XLE $182 $368 $382 $22 $114 $1,068 $89
Camry Hybrid $206 $368 $430 $26 $128 $1,158 $97
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Information does not factor in Lubbock location which can affect insurance rates greatly.

Based on these figures, using a $100 deductible costs approximately $41 more each month or $492 a year averaged for all Camry models than choosing the higher $1,000 deductible. Because you would be required to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you normally go at a minimum 22 months between claims, you would probably save some money if you choose the higher deductible.

Calculate deductible break even point

Average monthly premium for $100 deductibles: $131
Average monthly premium for $1,000 deductibles (subtract): - $90
Monthly savings from raising deductible: $41
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $41
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 22 months

One big caveat is that higher deductibles means you will have to pay more out-of-pocket if you have a claim. You should have some non-essential savings in order to pay the deductible to have repairs made.

The chart below demonstrates how choosing different deductibles and can raise or lower Toyota Camry insurance premiums for different ages of insureds. The data assumes a single male driver, comprehensive and collision coverage, and no discounts are applied.

Safe drivers pay less for insurance

The information below illustrates how violations and accidents can increase Toyota Camry insurance costs for each different age category. The data is based on a married male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.

Insurance rates by gender and age

The information below shows the difference between Toyota Camry premium costs for male and female drivers. The premiums are based on no violations or claims, full physical damage coverage, $250 deductibles, single status, and no discounts are applied.

Difference between liability only and full coverage rates

The information below illustrates the comparison of Toyota Camry car insurance costs with full coverage and liability only. The premiums are based on a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no additional discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no clear-cut formula to stop buying physical damage insurance, but there is a broad guideline. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.

For example, let's say your Toyota Camry settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $8,000 after paying your deductible. If premium cost is more than $800 annually for full coverage, then you may want to consider only buying liability coverage.

There are some circumstances where only buying liability is not recommended. If you still have a lienholder on your title, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should maintain full coverage.

Three reasons to not skimp on insurance

Even though it can be expensive, insuring your vehicle is required for several reasons.

  • The majority of states have minimum liability requirements which means it is punishable by state law to not carry a specific level of liability in order to license the vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If you have a loan on your Toyota Camry, it's guaranteed your bank will force you to buy full coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank or lender will purchase a policy for your Toyota for a lot more money and force you to pay for it.
  • Insurance protects both your assets and your vehicle. It also can pay for medical bills for not only you but also any passengers injured in an accident. Liability coverage will also pay to defend you if you are sued as the result of an accident. If mother nature or an accident damages your car, your policy will pay to repair the damage minus the deductible amount.

The benefits of having insurance outweigh the cost, especially if you ever need it. As of last year, the average driver in Texas overpays more than $850 per year so we recommend shopping around at every policy renewal to help ensure money is not being wasted.

Get cheaper Toyota Camry insurance rates in Lubbock

Auto insurance is not cheap nor is it fun to buy but you may qualify for discounts that many people don't even know exist. Some discounts will apply at the time of purchase, but some must be manually applied before you get the savings.Cheaper auto insurance with discounts

  • Active Service Discounts - Having a family member in the military could mean lower rates.
  • Full Payment Discount - By paying your entire bill at once instead of paying each month you could save up to 5%.
  • Federal Employees - Active or former government employment could cut as much as 10% off with some auto insurance companies.
  • Homeowners Savings - Just being a homeowner can get you a discount because of the fact that having a home requires a higher level of personal finance.
  • Professional Memberships - Joining a qualifying organization is a simple method to lower premiums on your next auto insurance statement.
  • Online Discount - A few larger online companies provide a small discount for completing your application on their website.
  • Discount for Low Mileage - Low annual miles could be rewarded with lower premium rates due to less chance of an accident.

A little note about advertised discounts, most discounts do not apply to the whole policy. Most only apply to individual premiums such as liability, collision or medical payments. So despite the fact that it appears having all the discounts means you get insurance for free, you're out of luck. Any qualifying discounts will reduce your policy cost.

The chart below shows the comparison of Toyota Camry annual premium costs with and without discounts applied to the policy rates. The costs are based on a female driver, no violations or claims, Texas 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 safe-driver, multi-policy, claim-free, multi-car, marriage, and homeowner discounts applied.

A few of the larger companies and some of the premium reductions they offer can be read below.

  • State Farm may offer discounts for accident-free, driver's education, student away at school, good student, good driver, defensive driving training, and passive restraint.
  • American Family includes discounts for good student, defensive driver, TimeAway discount, mySafetyValet, multi-vehicle, good driver, and air bags.
  • GEICO has discounts for air bags, multi-vehicle, defensive driver, good student, and daytime running lights.
  • 21st Century has savings for good student, defensive driver, teen driver, driver training, and homeowners.
  • Progressive offers discounts for multi-policy, homeowner, continuous coverage, online signing, and multi-vehicle.

When comparing rates, check with each company or agent what discounts are available to you. All car insurance discounts may not be available in your state.

Local insurance agents

Some people still like to buy from a local agent and that can be a smart move One of the great benefits of comparing rates online is you may find cheap car insurance quotes but also keep your business local. Supporting neighborhood agents is important particularly in Lubbock.

Insurance agency in LubbockBy using this short form, the coverage information is emailed to participating agents in Lubbock that can provide free Lubbock auto insurance quotes for your insurance coverage. You never need to find an agent on your own since rate quotes are delivered to your email. You can find lower rates AND a local agent. If you want to quote rates for a specific company, you would need to jump over to their website and fill out the quote form the provide.

If you prefer to buy car insurance from local Lubbock agents, there are two different agency structures and how they can service your needs differently. Car insurance agencies can be categorized as either independent or exclusive.

Independent Car Insurance Agents (or Brokers)

Independent agents are not locked into one company so they can quote policies amongst many companies enabling the ability to shop coverage around. If prices rise, they can switch companies in-house without you having to go to a different agency. When comparing car insurance rates, you need to include rate quotes from a few independent agents to get the most accurate price comparison.

Listed below is a list of independent insurance agents in Lubbock that may be able to provide rate quotes.

1810 50th St - Lubbock, TX 79412 - (806) 747-4422 - View Map

3405 19th St - Lubbock, TX 79410 - (806) 792-3771 - View Map

2413 20th St - Lubbock, TX 79411 - (806) 763-2886 - View Map

View more Lubbock agents

Exclusive Car Insurance Agencies

These type of agents can only place business with one company such as Farmers Insurance or State Farm. Exclusive agents cannot provide rate quotes from other companies so you might not find the best rates. These agents receive extensive training on their company's products which aids in selling service over price.

Below is a short list of exclusive insurance agents in Lubbock that can give you price quote information.

5910 130th St #101 - Lubbock, TX 79424 - (806) 701-5234 - View Map

5740 82nd St - Lubbock, TX 79424 - (806) 799-4651 - View Map

Allstate Insurance Agent: Bill Eggar
10101 Quaker Ave - Lubbock, TX 79424 - (806) 792-5200 - View Map

View more Lubbock agents

Finding a good insurance agency shouldn't rely on just a cheap price quote. You should also get answers to these questions.

  • What insurance company do they write the most business with?
  • What will you get paid if your car is a total loss? How is that amount determined?
  • Do they specialize in personal lines auto insurance in Lubbock?
  • Can you choose the body shop in case repairs are needed?
  • Will they give you a referral list?
  • What discounts might you be missing?
  • Do they have any clout with companies to ensure a fair claim settlement?
  • Is there any savings for paying the full premium?

What is the best car insurance company in Lubbock?

Choosing a high-quality insurer is difficult considering how many companies sell insurance in Lubbock. The company information displayed below may help you decide which companies to look at when comparing rates.

Top 10 Lubbock Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

When do I need an agent's advice?

When it comes to insurance from an agent or online for your personal vehicles, there really is no "perfect" insurance plan. You are unique so this has to be addressed.Safe vehicles cost less to insure For example, these questions may help you determine whether your personal situation may require specific advice.

  • I have health insurance so do I need medical payments coverage?
  • What exactly is covered by my policy?
  • Am I covered when pulling a rental trailer?
  • Is my ex-spouse still covered by my policy?
  • How much cheaper are high deductibles?
  • Is my camper covered for physical damage?
  • What does medical payments cover?
  • Are all vehicle passengers covered by medical payments coverage?
  • Do I need added coverage for expensive stereo equipment?

If it's difficult to answer those questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier

Smart consumers save more

Low-cost Toyota Camry insurance in Lubbock can be sourced online as well as from insurance agents, and you should be comparing both in order to have the best chance of saving money. Some car insurance companies may not offer online price quotes and these smaller companies work with independent insurance agents.

In this article, we presented many tips how you can save on Toyota Camry insurance in Lubbock. The key concept to understand is the more rate quotes you have, the better likelihood of getting cheaper Lubbock auto insurance quotes. Consumers may even find the lowest rates are with a small mutual company. These companies may often insure only within specific states and give better rates than their larger competitors like Allstate or State Farm.

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