Compare Toyota Sequoia Insurance Rate Quotes in Portland

The most effective way to save on Toyota Sequoia insurance in Portland is to regularly compare quotes from different companies that sell auto insurance in Oregon.

Step 1: Try to understand how insurance companies determine prices and the factors you can control to prevent expensive coverage. Many rating criteria that result in higher prices such as at-fault accidents, speeding tickets, and a less-than-favorable credit history can be rectified by making minor driving habit or lifestyle changes.

Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like Progressive or Farmers Insurance, while independent agents can quote prices from multiple companies.

Step 3: Compare the new quotes to your existing policy to determine if switching companies saves money. If you find a lower rate quote, make sure there is no coverage gap between policies.

One important bit of advice is to compare the same coverage limits and deductibles on every price quote and and to get rates from as many companies as feasibly possible. This guarantees an apples-to-apples comparison and the best price selection.

Astonishing but true according to a recent study, nearly 70% of drivers have stayed with the same insurance company for more than four years, and almost 40% of drivers have never shopped around. Portland insurance shoppers could pocket $1,000 a year by just comparing rate quotes, but they mistakenly think it’s difficult to save money by comparing rate quotes.

If you have insurance now or want to find a cheaper company, use these money-saving tips to reduce premiums and possibly find even better coverage. Finding the cheapest insurance coverage in Portland is not rocket science. Smart buyers just have to understand the most time-saving way to compare different rates instantly.

Smart Buyers Can Cut Their Insurance Costs

Many things are part of the equation when quoting car insurance. Some of the criteria are obvious such as your driving record, but other criteria are less obvious such as whether you are married or how safe your car is. The best way to find cheaper auto insurance is to take a look at some of the factors that play a part in calculating the rates you pay for auto insurance. When you understand what determines base rates, this empowers consumers to make smart changes that may result in big savings.

Shown below are some of the major factors companies use to determine your rate level.

• Auto insurance policy lapses increase prices – Not having insurance is illegal and any future policy may cost more because you let your coverage cancel without a new policy in place. Not only will you pay more, failure to provide proof of insurance might get you a steep fine or even jail time.
• Know your vehicle’s IIHS safety rating – Cars with five star safety ratings can get you lower premiums. These vehicles reduce occupant injuries and fewer serious injuries translates into savings for insurance companies which can result in lower premiums.

• With age comes responsibility – More mature drivers are proven to be safer behind the wheel, are lower risk to insure, and usually have better credit. Inexperience drivers have a tendency to be inattentive and easily distracted with other occupants in the car therefore auto insurance rates are much higher.

  The following data uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.

• Poor credit decisions can cost you – Having a good credit score factor in calculating your auto insurance rates. People that have high credit ratings tend to be more responsible and file fewer claims than drivers who have lower ratings. If your credit rating is not that good, you could save money insuring your Toyota Sequoia by improving your credit score.
• Vehicle features that cut prices – Selecting a car model with a theft deterrent system can earn a premium discount. Systems that thwart thieves such as OnStar, LoJack tracking, and tamper alarms help track and prevent car theft.

• Toyota Sequoia insurance loss statistics – Auto insurance companies use data from past claims as a tool for profitable underwriting. Vehicles that have higher claim amounts or frequency will cost more for specific coverages.

  The data below shows the compiled insurance loss statistics for Toyota Sequoia vehicles. For each policy coverage, the claim probability for all vehicles averaged together is considered to be 100. Percentage values below 100 mean the vehicle has better than average losses, while percentages above 100 indicate a higher chance of having a claim or a tendency for losses to be larger than average.

  
  

  Insurance Loss Ratings for Toyota Sequoia Vehicles

  Vehicle Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Toyota Sequoia 4dr 2WD	70	103	80	57
  Toyota Sequoia 4dr 4WD	82	115	96	57	50	77

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Toyota Sequoia insurance statistics and information

The coverage information shown next covers detailed analysis of insurance policy prices for Toyota Sequoia models. Understanding more about how premiums are calculated helps drivers make informed decisions when comparing rates.

Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oregon minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Table data does not factor in specific Portland garaging location which can revise auto insurance rates greatly.

Higher deductibles save money

One common question asked by Portland drivers is how high should the deductibles for physical damage be. The figures shown below highlight the rate difference when you choose different coverage deductibles. The first rate estimation uses a $250 physical damage coverage deductible and the second pricing table uses a $1,000 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Rate quotes do not factor in specific zip code location which can alter insurance rates substantially.

We can derive from the above data that using a $250 deductible costs approximately $27 more each month or $324 a year across all Toyota Sequoia models than quoting the higher $1,000 deductible. Because you would be required to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 28 months between claim filings, you would probably come out ahead by selecting a higher deductible.

An important sidenote is that a higher deductible means you will have to cover more of the damage yourself when you have a physical damage claim. It will be required that you have enough disposable savings in the event you need to pay more for the deductible.

How accidents and tickets impact rates in Portland

The chart below shows how traffic citations and accident claims can influence Toyota Sequoia car insurance rates for different age categories. The premium estimates are based on a single male driver, full coverage, $500 deductibles, and no additional discounts are factored in.

Comparison of auto insurance rates by gender and age in Portland

The chart below illustrates the comparison of Toyota Sequoia insurance costs for male and female drivers. The rate quotes are based on no accidents or driving violations, full coverage, $100 deductibles, drivers are not married, and no policy discounts are applied.

Should you buy full coverage?

The example below visualizes the comparison of Toyota Sequoia premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Oregon. The prices are based on no claims or violations, $1,000 deductibles, drivers are single, and no other discounts are factored in.

When to stop paying for full coverage

There is no exact formula that works best for making the decision to drop full coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.

For example, let’s pretend your Toyota Sequoia claim settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $7,000 after the deductible is paid. If you are paying over $700 annually for physical damage coverage, then it may be the right time to buy liability only.

There are some situations where buying only liability insurance is not advised. If you still owe a portion of the original loan, you have to keep full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage.

Lower rates by qualifying for discounts

Car insurance is not an enjoyable expense, but there are discounts available to help offset the cost. Some discounts apply automatically when you purchase, but some discounts are required to be specifically requested prior to receiving the credit.

• Passive Restraint Discount – Factory air bags or motorized seat belts could see savings of 20% or more.
• Responsible Driver Discounts – Insureds who avoid accidents can save as much as half off their rates as compared to drivers with claims.
• Online Discount – Some of the larger companies provide a small discount for completing your application on their website.
• Discount for New Cars – Putting coverage on a new Sequoia can be considerably cheaper due to better safety requirements for new model year vehicles.
• Theft Deterrent System – Anti-theft and alarm system equipped vehicles prevent vehicle theft and can earn a small discount on your policy.
• Resident Student – Children living away from Portland attending college and won’t have access to an insured vehicle can receive lower rates.
• Active Service Discounts – Having a family member in the military could qualify you for better premium rates.
• Pay Early and Save – If you pay your entire premium ahead of time rather than paying in monthly installments you can avoid monthly service charges.

Just know that most credits do not apply to the whole policy. Some only reduce individual premiums such as medical payments or collision. Despite the appearance that you would end up receiving a 100% discount, nobody gets a free ride.

The example below shows the difference between Toyota Sequoia car insurance costs with and without discounts being applied to the rates. The rate quotes are based on a female driver, no violations or claims, Oregon state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, marriage, multi-car, multi-policy, and safe-driver discounts applied.

To find insurance companies with the best Toyota Sequoia insurance discounts in Portland in Oregon, follow this link.

Do the work, save more money

As you restructure your insurance plan, it’s a bad idea to skimp on critical coverages to save a buck or two. There are a lot of situations where someone sacrificed physical damage coverage to discover at claim time that it was a big error on their part. Your focus should be to purchase a proper amount of coverage at the best possible price.

Throughout this article, we presented a lot of techniques to compare Toyota Sequoia insurance premium rates in Portland. The key thing to remember is the more rate quotes you have, the better your comparison will be. Drivers may even discover the most savings is with some of the lesser-known companies. Smaller companies may cover specific market segments cheaper compared to the large companies like Progressive and GEICO.

Much more information about auto insurance in Oregon is located at these links:

• When is the Right Time to Switch Car Insurance Companies? (Allstate)
• Who Has Cheap Car Insurance Rates for a Ford Fusion in Portland? (FAQ)
• How Much is Portland Car Insurance for Young Drivers? (FAQ)
• Smart Auto Insurance Tips (Insurance Information Institute)
• Side Impact Crash Tests (iihs.org)