For a Highlander, one of the more important components that determine insurance cost is where you keep your vehicle in Fort Wayne. Areas with more people or even just a higher incidence of claims tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The illustration below shows the highest-priced places in Indiana for a Toyota Highlander to buy auto insurance in. Fort Wayne ranks #13 with an annual rate of $976 for coverage, which is approximately $81 monthly.
|Rank||City||Premium Per Year|
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Rates are approximated as the specific garaging location can decrease or increase coverage prices significantly.
The car, truck, or SUV you are buying coverage for is one of the largest considerations that determines whether or not you can buy the best cheap coverage for a Toyota Highlander. Vehicles with lots of speed or power, a lack of modern safety features, or a track record of large liability claims will cost more to insure than safer models.
The list below estimates coverage rates for the most budget-friendly vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$892|
|Ford Escape Limited 2WD||$911|
|Dodge Grand Caravan SE||$998|
|Ford F-150 XL Regular Cab 2WD||$1,004|
|Honda Odyssey EX W/Rear Entertainment||$1,036|
|Toyota Corolla LE||$1,113|
|Hyundai Elantra SE 4-Dr Sedan||$1,121|
|Chevrolet Impala LS||$1,130|
|Ford Focus SE 4-Dr Sedan||$1,137|
|Toyota Tacoma 4WD||$1,136|
|Ford Explorer XLT 2WD||$1,146|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,149|
|Jeep Grand Cherokee Laredo 4WD||$1,153|
|Toyota RAV4 4WD||$1,158|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,185|
|Chevrolet Malibu LT||$1,217|
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Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Rates do not factor in Fort Wayne, IN location which can decrease or increase coverage prices substantially.
Looking at the numbers, we can expect models like the Honda CR-V, Ford Escape, and Dodge Grand Caravan should be some of the cheaper vehicles to insure for a Highlander.
How to get discounts on Fort Wayne car insurance
Insurance providers that sell policies for a Toyota Highlander may also provide premium discounts that could reduce prices by 30% or more if you qualify. The best auto insurance companies and a selection of discounts can be read below.
- American Family may include discounts for good student, Steer into Savings, air bags, accident-free, and early bird.
- Nationwide has discounts for multi-policy, business or organization, Farm Bureau membership, defensive driving, accident-free, easy pay, and good student.
- MetLife has savings for good driver, multi-policy, accident-free, good student, and claim-free.
- 21st Century discounts include homeowners, defensive driver, automatic seat belts, anti-lock brakes, teen driver, and early bird.
- Farmers Insurance offers premium reductions for business and professional, teen driver, pay in full, multi-car, bundle discounts, distant student, and early shopping.
- Allstate includes discounts for eSmart discount, economy car, FullPay discount, good student, and senior citizen.
The example below visualizes the comparison of insurance premiums with and without discounts being applied to the rates. The data is based on a female driver, no violations or accidents, Indiana state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with homeowner, accident-free, defensive driving course, passive restraint, multiple policy, and anti-theft discounts applied. When discounts are factored in, theaverage yearly reduction on auto insurance for a Toyota Highlander is 27% or $419.
Cost of full coverage
Reducing the cost of auto insurance is important to most people, and one common way to buy cheaper insurance for a Toyota Highlander is to not buy full coverage. The diagram below illustrates the comparison of premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Indiana. The prices are based on a clean driving record, no claims, $250 deductibles, single status, and no additional discounts are factored in.
Averaged out for all age groups, full coverage costs $1,480 per year more than just insuring for liability. Lot’s of drivers question when is it safe to stop buying full coverage. There is no definitive formula of when to drop full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
There are some situations where dropping physical damage coverage is not a good plan. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Here’s why you should compare rates often
Fort Wayne auto insurance rates are calculated based on many things that may substantially change the policy price. Simply turning a year older, having a teen driver, or having an at-fault accident can trigger changes in premium that can make some companies more affordable than others.
And not only may your rating factors change, but companies change their prices multiple times each year in order to protect their financial rating. Significantly higher losses may result in higher priced premiums, while profitable underwriting can produce lower-priced Fort Wayne car insurance rates.
The bar chart below shows rates for the cheapest car insurance in Fort Wayne, IN for a 40-year-old male driver with a good driving record, no prior claims, and solid credit. If we estimate prices based on his current risk factors, Travelers might quote the most affordable car insurance rates in Fort Wayne at $660 per year. This is $580 less than the average premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual are the rest of the cheapest Fort Wayne, IN auto insurance companies.
Now we will give the driver from the above example an accident surcharge, bad credit, and a speeding citation. Because each insurer has a proprietary method for determining rates, comparing insurance quotes could result in a slightly different list of the cheapest companies as shown below.
Auto-Owners now has the best price on car insurance in Fort Wayne, IN with The Hartford, Cincinnati Insurance, USAA, and Nationwide completing the list. This demonstrates why Indiana drivers need to take the time to shop around when trying to find the most affordable car insurance quotes for a Toyota Highlander. Insurance prices are calculated by many risk factors and can increase or decrease at any time, so the cheapest company the last time you shopped your coverage around may now be priced much higher than other options.
How to find cheaper car insurance for a Toyota Highlander
Lowering your rates is not difficult, and here are some thrifty solutions that can help you get cheap auto insurance.
- Raise deductibles
- If your vehicles are older, consider dropping full coverage
- Accident-free drivers may qualify for discounts
- Lower rates by purchasing a safer vehicle
- Keep your driving record clean
- Increase your credit score
- Shop around for cheaper prices often
The last tip in the list is very critical, as was emphasized in this write-up. Prices in Fort Wayne can change in a short period of time, so don’t be unwilling to switch companies if a more affordable price is available.
Brand loyalty is not necessarily bad, but is isn’t recommended if it’s costing you a lot of money. It takes less than five minutes to compare prices and find cheaper car insurance for a Toyota Highlander.