Buying the best cheap auto insurance for a Toyota Tacoma in Kentucky doesn’t take too much effort, but it depends on a fairly complex equation with a lot of factors such as age of the vehicle, where your vehicle is garaged, and blemishes on your driving record. Drivers pay around $905 each year to insure their Tacoma, but that price is an estimation using a 30-year-old single male driver with full comprehensive and collision coverage and $1,000 deductibles.
This brings up the issue that more than likely you’re not a 30-year-old male, married instead of single, or maybe you are just looking for cheap liability insurance. Everone’s needs are different, and this illustrates why the best way to find the cheapest rates for your Toyota is to compare as many rates as you can. Get your free quotes now and you can get rates from top-rated companies that insure vehicles in Kentucky.
The specific trim level has an effect on the cost of coverage, so the rate you will pay to insure a Tacoma 2WD will be $46 less expensive the cost to insure the higher-priced Tacoma Double Cab TRD Sport Package 4WD trim level, as shown below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Tacoma 2WD | $154 | $268 | $428 | $26 | $128 | $1,004 | $84 |
| Tacoma 4WD | $178 | $220 | $428 | $26 | $128 | $980 | $82 |
| Tacoma Double Cab 4WD | $178 | $268 | $428 | $26 | $128 | $1,028 | $86 |
| Tacoma X-Runner 2WD | $178 | $316 | $428 | $26 | $128 | $1,076 | $90 |
| Tacoma Double Cab 4WD | $200 | $268 | $428 | $26 | $128 | $1,050 | $88 |
| Tacoma Double Cab TRD Off-Road Package 4WD | $200 | $268 | $428 | $26 | $128 | $1,050 | $88 |
| Tacoma Double Cab TRD Sport Package 4WD | $200 | $268 | $428 | $26 | $128 | $1,050 | $88 |
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Price data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Price information does not factor in Louisville location which can revise price quotes noticeably.
Deciding which insurers offer the cheapest auto insurance rates for a Toyota Tacoma will take more work in order to find the best price. Each insurance company has a different process for filing rates in each state, so we will examine the auto insurance companies that tend to have lower prices in Louisville, KY.
Find Cheaper Auto Insurance for Your Tacoma
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,163 |
| 3 | USAA | $1,187 |
| 4 | Auto-Owners | $1,371 |
| 5 | Motorists Mutual | $1,569 |
| 6 | Grange Mutual | $1,609 |
| 7 | Travelers | $1,680 |
| 8 | State Farm | $1,867 |
| 9 | Westfield | $1,888 |
| 10 | Safe Auto | $1,991 |
| 11 | Nationwide | $2,024 |
| 12 | Progressive | $2,119 |
| 13 | Electric | $2,139 |
| 14 | State Auto | $2,254 |
| 15 | Encompass | $2,288 |
| 16 | GEICO | $2,341 |
| 17 | Safeco | $2,791 |
| 18 | Shelter | $3,135 |
| 19 | MetLife | $3,177 |
| 20 | Liberty Mutual | $3,598 |
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Cincinnati Insurance may offer some of the most affordable car insurance rates in Louisville at around $1,093 a year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual would also make the list of some of the cheaper Louisville, KY auto insurance companies.
In the above rates, if you are a policyholder with Kentucky Farm Bureau and switched to Cincinnati Insurance, you may see an annual premium reduction of around $70. Kentucky drivers with USAA might save as much as $94 a year, and Auto-Owners insureds might lower prices by up to $278 a year.
To get a fast rate comparison, click here to start a quote or visit any of the low-priced companies below.
These estimates are averages for all drivers and vehicles and do not take into consideration a specific location for a Toyota Tacoma. So the company that fits your situation best may not even be in the top 21 companies in the list above. That points out the importance of why you need to compare rates from as many companies as possible using your own driver data and vehicle information.
Liability rates compared to full coverage
Saving on auto insurance should be important to most drivers, and one way to reduce the cost of insurance for a Toyota Tacoma is to not buy comprehensive and collision coverage. The example below illustrates the difference between yearly insurance costs with full physical damage coverage and with liability coverage only. The information is based on no claims or driving citations, $500 deductibles, drivers are single, and no policy discounts are applied.
Averaged for all ages 20 through 70, physical damage coverage costs an extra $1,823 per year over and above liability coverage. That raises the question if paying for full coverage is a waste of money. There is no exact formula that works best for making the decision to drop full coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s say your vehicle’s claim settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after paying the physical damage deductible. If it’s costing you more than $700 annually for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
What aren’t you shopping around?
Louisville, KY auto insurance rates are impacted by many factors which can substantially decrease or increase the cost of your policy. Turning one year older, moving to a different location, or getting a reckless driving citation can cause premium changes that can cause some rates to be affordable when they were higher priced. Not only may your risk profile change, but companies change premium rates as often as every three months in order to offset underwriting gains or losses. Significantly higher losses may cause increased rates, while lower claim levels may result in lower-cost Tacoma insurance rates.
To help illustrate this point, the bar chart below shows a variety of companies that have the cheapest car insurance in Louisville, KY for a 45-year-old female driver with a clean driving record, no accidents, and good financial standing. If we compare prices based on her current risk profile, Cincinnati Insurance may offer the lowest car insurance rates in Louisville at $1,711 a year. This is $432 less than the average premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also included in the most affordable Louisville, KY auto insurance companies.
Now let’s give the driver from above some claims, poor credit, and a speeding citation. Due to the fact that every insurance company has their own formula for setting prices, analyzing rates may now result in a substantially altered list of affordable Louisville car insurance companies as shown below.
Kentucky Farm Bureau now has the cheapest auto insurance in Louisville with Grange Mutual, USAA, State Farm, and Westfield also being competitive. This example demonstrates why consumers need to take the time to compare as many rates as possible when trying to get cheap car insurance quotes for a Toyota Tacoma.
Auto insurance prices consist of many different factors and can decrease or increase without notice, so the lowest-price company six months ago may now be costing you a lot of money.
If you would rather have a little guidance when trying to find the best insurance rates for a Toyota Tacoma, the insurance agencies below can help you make a decision which auto insurance policy would work best for you. To find an agent near you, click the button link following the list.
- Vince Jarboe – State Farm Insurance Agent
5101 New Cut Rd – Louisville, KY 40214 – (502) 380-3800 - Louisville Kentucky Insurance
4500 Dixie Hwy – Louisville, KY 40216 – (502) 447-3711 - Nationwide Insurance: Christopher James Parsons Agency
10300 Brookridge Village Blvd Ste 103 – Louisville, KY 40291 – (502) 239-5054 - Brian Morrison – State Farm Insurance Agent
104 Ridgeway Ave – Louisville, KY 40207 – (502) 895-2955
View more Louisville, KY insurance agents
Tips to find cheaper insurance for a Toyota Tacoma
It’s not impossible to find cheaper rates, and here are a few penny-pinching ideas that can help you buy cheaper coverage.
- Discounts for being claim-free can be substantial
- Bundle car and home insurance and save money
- Do not get traffic citations
- Buy a safer vehicle
- Avoid accidents
- Look for cheaper rates once a year by shopping around
The last tip is especially necessary, as we noted in the article above. Prices charged by auto insurers in Louisville can change significantly in a year, so don’t be afraid to buy a policy from a new company if you can save money.
Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that stubbornness costs you a considerable chunk of change every month. In just a couple of minutes you could compare prices and find cheaper car insurance for a Toyota Tacoma.