It’s safe to conclude that insurance companies don’t want their customers to go rate shopping. Drivers who get price quotes annually are likely to switch insurance companies because of the high probability of finding a lower-priced policy. A recent survey found that people who make a habit of shopping around saved $3,400 over four years as compared to drivers who never compared prices.
If finding the cheapest price on insurance is the reason for your visit, then learning about how to find and compare coverages can help simplify the process.
The best way we recommend to find more affordable auto insurance rates is to compare prices at least once a year from insurance carriers in El Paso. Price quotes can be compared by following these guidelines.
Step 1: It will benefit you to learn about the coverage provided by your policy and the measures you can take to keep rates in check. Many rating criteria that drive up the price such as careless driving and a poor credit rating can be rectified by making small lifestyle or driving habit changes. Continue reading for more details to prevent expensive rate increases and find overlooked discounts.
Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only provide price estimates from one company like Progressive and State Farm, while agents who are independent can provide rate quotes for a wide range of insurance providers. Select a company
Step 3: Compare the quotes to your existing coverage to see if a cheaper price is available in El Paso. If you can save some money, make sure there is no coverage gap between policies.
Step 4: Provide proper notification to your current company of your intention to cancel your current policy. Submit the required down payment along with the signed application for the new policy. Don’t forget to keep the new certificate verifying proof of insurance in an accessible location in your vehicle.
One tip to remember is that you use identical limits and deductibles on every price quote and and to get price quotes from every insurance company. This provides a fair price comparison and a good representation of prices.
If you have coverage now, you will surely be able to buy cheaper auto insurance using the concepts covered in this article. Our objective is to instruct you on how auto insurance companies operate and some tricks to saving. But Texas consumers must learn the way insurance companies determine prices because rates fluctuate considerably.
To get the cheapest Toyota Camry rate quotes, there a variety of ways to obtain and compare prices from lots of Texas insurance companies. The easiest way to find affordable Toyota Camry insurance rates involves getting comparison quotes online. When comparing insurance rates, know that getting more free quotes helps locate more affordable insurance.
The companies shown below have been selected to offer comparison quotes in El Paso, TX. If multiple providers are shown, we suggest you get prices from several of them to get the best price comparison.
Coverage statistics and figures
The price information displayed below outlines detailed analysis of rate quotes for Toyota Camry models. Having a good grasp of how car insurance prices are established is important for drivers to make decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Camry LE | $336 | $496 | $500 | $30 | $150 | $1,512 | $126 |
| Camry SE | $336 | $584 | $500 | $30 | $150 | $1,600 | $133 |
| Camry XLE | $336 | $584 | $500 | $30 | $150 | $1,600 | $133 |
| Camry Hybrid | $378 | $584 | $564 | $34 | $168 | $1,728 | $144 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Price estimates do not factor in specific El Paso garaging location which can raise or lower coverage rates noticeably.
Raise deductibles and save
One of the hardest decisions when shopping for car insurance is the level to set your comp and collision deductibles. The comparison tables below approximate the rate difference when you choose different physical damage deductibles. The first pricing table uses a $100 physical damage deductible and the second price grid uses a $1,000 deductible.
| 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 |
| Get Your Own Custom Quote Go | |||||||
| 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 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Information does not factor in zip code location which can affect insurance rates substantially.
Based on the above data, using a $100 deductible will cost you roughly $41 more each month or $492 every year than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have more than 22 months between claims, you would come out ahead if you choose the higher deductible. Here is the way you can come to your own conclusion.
| 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 a higher deductible means you will have to cover more of the damage yourself when you have to file a claim. You will want to have some money saved in order to pay the deductible to have repairs made.
Insurance rate increases from tickets or accidents
The illustration below highlights how speeding tickets and fender-benders raise Toyota Camry insurance costs for different age groups. The premium estimates are based on a single female driver, comp and collision included, $500 deductibles, and no other discounts are factored in.
Difference between liability only and full coverage rates
The example below shows the difference between Toyota Camry auto insurance rates with and without physical damage coverage. The price estimates are based on no driving violations, no at-fault accidents, $500 deductibles, drivers are single, and no additional discounts are factored in.
Should you pay for full coverage?
There isn’t a written rule for excluding full coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let’s say your Toyota Camry claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $2,000 after paying the physical damage deductible. If it’s costing in excess of $200 a year for full coverage, then you might want to consider buying only liability coverage.
There are some cases where dropping physical damage coverage is not advised. If you still have a loan on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not opt for liability only.
Why you need insurance for your Toyota Camry
Despite the high cost of buying insurance for a Toyota Camry in El Paso, paying for insurance serves an important purpose.
- The majority of states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific level of liability in order to get the vehicle licensed. 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 bought your vehicle with a loan, most lenders will make it mandatory that you buy insurance to protect their interest in the vehicle. If you let the policy lapse, the lender may have to buy a policy to insure your Toyota at a much higher premium rate and make you pay the higher premium.
- Insurance preserves your vehicle and your assets. Insurance will pay for many types of medical costs for both you and anyone you injure as the result of an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of buying enough insurance more than cancel out the cost, specifically if you ever have a liability claim. As of last year, the average driver in Texas is overpaying more than $810 a year so it’s very important to do a rate comparison at every policy renewal to be sure current rates are still competitive.
Get cheaper Toyota Camry insurance rates in El Paso
Some providers do not advertise all their discounts in a way that’s easy to find, so the following list contains a few of the more common in addition to some of the lesser obvious credits that may apply to you.
- Low Miles Discount – Keeping the miles down on your Toyota can earn substantially lower premium rates.
- Discounts for Federal Employees – Active or former government employment can save as much as 8% depending on your insurance provider.
- Safe Driver Discount – Drivers who avoid accidents can save up to 40% or more on their El Paso car insurance quote than less cautious drivers.
- Good Students Pay Less – A discount for being a good student can be rewarded with saving of up to 25%. This discount can apply well after school through age 25.
- Professional Memberships – Belonging to qualifying clubs or civic groups could earn you a nice discount on your policy.
- Braking Control Discount – Cars that have steering control and anti-lock brakes are much safer to drive and earn discounts up to 10%.
- Safety Course Discount – Taking part in a course teaching defensive driving skills could possibly earn you a 5% discount and easily pay for the cost of the class.
- El Paso Homeowners Pay Less – Owning your own home or condo can help you save on insurance due to the fact that maintaining a home means you have a higher level of financial diligence.
- Student in College – Kids who live away from home at college without a vehicle on campus could qualify for this discount.
As a sidenote, most of the big mark downs will not be given to your bottom line cost. Most only reduce individual premiums such as medical payments or collision. So when the math indicates you can get free auto insurance, it just doesn’t work that way.
The example below visualizes the comparison of Toyota Camry insurance prices with and without discounts applied to the rates. The premiums are based on a female driver, a clean driving record, no claims, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, claim-free, marriage, multi-policy, and homeowner discounts applied.
A partial list of companies that may include these benefits include:
If you want cheaper El Paso car insurance quotes, ask all companies you are considering the best way to save money. Discounts may not apply to policies in El Paso.
Car insurance is available from local insurance agents
Some consumers still like to go talk to an agent and that can be a smart move The biggest benefit of getting online price quotes is that you can obtain cheap car insurance quotes and still choose a local agent. And supporting small agencies is especially important in El Paso.
By using this short form, the coverage information gets sent to local insurance agents in El Paso who will gladly provide quotes for your coverage. It’s much easier because you don’t need to leave your computer since price quotes are sent to your email. You can get cheaper car insurance rates and work with a local agent. If you wish to compare rates from a specific insurance company, feel free to visit that company’s website and complete a quote there.
El Paso car insurance agents are either independent or exclusive
When finding a local agent, you need to know there are two types of agencies and how they differ in how they quote coverages. Car insurance agents in El Paso are categorized either exclusive agents or independent agents.
Independent Insurance Agents
Independent agents are normally appointed by many insurers so they can quote policies through lots of different companies and help determine which has the cheapest rates. If you want to switch companies, they simply move the coverage in-house and you stay with the same agent.
When comparing car insurance prices, it’s recommended you get rate quotes from a few independent agents in order to compare the most rates. Most have the option of insuring with smaller mutual companies that many times have cheaper rates.
Shown below are El Paso independent agencies that may be able to provide price quotes.
- Mt. Franklin Insurance Agency
1444 Montana Ave #202 – El Paso, TX 79902 – (915) 599-2900 – View Map - Nationwide Insurance: Damon Scott Crossland Agency
210 Thunderbird Dr t – El Paso, TX 79912 – (915) 584-5480 – View Map - American Agency Insurance
5959 Gateway Blvd W #533 – El Paso, TX 79925 – (915) 772-7766 – View Map
Exclusive Insurance Agents
Agents of this type can only provide pricing for a single company and some examples include Allstate, State Farm and Farmers Insurance. They are unable to provide rate quotes from other companies so they have no alternatives for high prices. Exclusive insurance agents are trained well on sales techniques which helps them sell insurance even at higher premiums. Consumers sometimes buy insurance from these agents partially due to the brand legacy and the convenience of having all coverages with one company.
Listed below are exclusive agencies in El Paso who can help you get rate quotes.
- Allstate Insurance: Eric Kent
5909 N Mesa St – El Paso, TX 79912 – (915) 587-0292 – View Map - Allstate Insurance: John Choi
8500 Dyer St Ste 7 – El Paso, TX 79904 – (915) 755-2201 – View Map - Crystal Martinez – State Farm Insurance Agent
12295 Pellicano Dr #2 – El Paso, TX 79936 – (915) 855-8555 – View Map
Picking the best car insurance agent should depend on more than just the price. Get answers to these questions too.
- Are they properly licensed to sell insurance in Texas?
- Are there any extra charges for paying monthly?
- Which insurance companies are they affiliated with?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- What company do they have the most business with?
- How are claims handled?
- Can they help ensure a fair claim settlement?
Auto insurance can be complex
When choosing the best auto insurance coverage, there isn’t really a best way to insure your cars. Your situation is unique and your auto insurance should be unique as well.
Here are some questions about coverages that can aid in determining if your situation could use an agent’s help.
- Should I bundle my homeowners policy with my auto?
- How high should deductibles be on a Toyota Camry?
- Which is better, split liability limits or combined limits?
- Is my business laptop covered if it gets stolen from my vehicle?
- Will damage be repaired with OEM parts?
- What is high-risk coverage and where do I buy it?
- Is my custom paint covered by insurance?
- Is a blown tire covered by insurance?
- At what point should I drop full coverage?
- Can my babysitter drive my car?
If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of auto insurance companies in your area.
Car insurance coverage considerations
Having a good grasp of your policy helps when choosing the best coverages and proper limits and deductibles. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Below you’ll find typical coverages found on most car insurance policies.
Medical expense insurance – Personal Injury Protection (PIP) and medical payments coverage pay for expenses for nursing services, prosthetic devices and dental work. They are used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. Coverage applies to all vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay
Comprehensive (Other than Collision) – Comprehensive insurance pays for damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as a broken windshield, theft, hitting a deer, damage from flooding and damage from getting keyed. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
Protection from uninsured/underinsured drivers – This coverage provides protection when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your Toyota Camry.
Due to the fact that many Texas drivers have only the minimum liability required by law (30/60/25), their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Normally these coverages are set the same as your liability limits.
Liability car insurance – This will cover damage or injury you incur to other’s property or people by causing an accident. This insurance protects YOU from legal claims by others, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 30/60/25 that translate to a limit of $30,000 per injured person, $60,000 for the entire accident, and property damage coverage for $25,000. Occasionally you may see a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage protects against claims like repair costs for stationary objects, attorney fees, repair bills for other people’s vehicles, medical expenses and funeral expenses. How much liability should you purchase? That is your choice, but you should buy as high a limit as you can afford. Texas requires minimum liability limits of 30/60/25 but you should think about purchasing better liability coverage.
The illustration below demonstrates why buying minimum limits may not provide you with enough coverage.
Collision coverage – This coverage pays for damage to your Camry resulting from a collision with an object or car. A deductible applies then your collision coverage will kick in.
Collision insurance covers claims like damaging your car on a curb, crashing into a ditch, hitting a mailbox, hitting a parking meter and backing into a parked car. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. You can also increase the deductible on your Camry to get cheaper collision coverage.
Do the work, save more money
While you’re price shopping online, you should never reduce coverage to reduce premium. There are too many instances where an insured cut full coverage only to find out that their decision to reduce coverage ended up costing them more. The proper strategy is to buy enough coverage for the lowest cost, but don’t skip important coverages to save money.
Cheaper Toyota Camry insurance in El Paso can be purchased online and from local agencies, and you should compare rates from both in order to have the best chance of saving money. Some companies may not have internet price quotes and many times these regional carriers only sell through independent agents.
Additional information
- Auto Theft Statistics (Insurance Information Institute)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Teen Driver Licensing Information (iihs.org)
- Airbag FAQ (iihs.org)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)