Finding affordable auto insurance for a Toyota Tacoma is fairly simple, but it relies on a lot of rating factors such as whether you own a home, the likelihood of vehicle theft, and the deductible amount you use. Indiana drivers pay approximately $1,064 each year to insure their Tacoma, but that figure is an approximation using a 30-year-old single female driver with full physical damage coverage and $250 deductibles.
This brings up the issue that more than likely you're not a 30-year-old female, married instead of single, or maybe you're a renter instead of a homeowner. Insurance is an individual thing, so the only real way to find the most affordable coverage for your Toyota is to compare rates from as many companies as possible.
The specific trim level can impact price, so the price you will pay to insure a Tacoma 2WD trim level will be $62 cheaper than the price to insure the more expensive Tacoma Double Cab TRD Sport Package 4WD version, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$240||$450||$380||$22||$114||$1,206||$101|
|Tacoma X-Runner 2WD||$240||$530||$380||$22||$114||$1,286||$107|
|Tacoma Double Cab 4WD||$272||$450||$380||$22||$114||$1,238||$103|
|Tacoma Double Cab TRD Off-Road Package 4WD||$272||$450||$380||$22||$114||$1,238||$103|
|Tacoma Double Cab TRD Sport Package 4WD||$272||$450||$380||$22||$114||$1,238||$103|
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Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Information does not factor in vehicle garaging location which can alter auto insurance rates considerably.
Shopping around for reasonably-priced car insurance is easier said than done, and finding out which insurers offer the best insurance rates for a Toyota Tacoma in Indiana takes additional perseverance.
Each company uses their own formula to determine rates, so let's begin by taking a look at the insurance companies with the overall best prices in Indiana.
Find Cheaper Auto Insurance for Your Tacoma
|Rank||Company||Cost Per Year|
|5||Indiana Farmers Mutual||$849|
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Travelers has some of the cheapest car insurance rates in Indiana at around $620 per year. USAA, Cincinnati Insurance, Erie, and Indiana Farmers Mutual are also some of the cheapest Indiana insurance companies.
In the rate table above, if you are insured with Erie and switched to USAA, you might realize an annual premium reduction of roughly $44. Customers with Indiana Farmers Mutual could save as much as $188 a year, and Western Reserve customers might see rate reductions of $203 a year.
These policy prices are averaged for all drivers and vehicles and do not take into consideration a specific rate factor for a Toyota Tacoma. So the auto insurance company that fits you best may not even be in the list above. That point stresses why you need to get car insurance quotes using your own personal information and vehicle type.
Types of discounts on Indiana insurance rates
Car insurance companies that provide coverage for a Toyota Tacoma could also offer rate discounts that could reduce prices by as much as 35% or more if you qualify for them. Larger insurance companies and the discounts they provide can be read below.
- State Farm policyholders can earn discounts including accident-free, Steer Clear safe driver discount, driver's education, multiple policy, good student, and good driver.
- Progressive may offer discounts for continuous coverage, multi-policy, good student, online quote discount, and multi-vehicle.
- Progressive offers premium reductions for multi-policy, online quote discount, online signing, continuous coverage, and homeowner.
- MetLife includes discounts for defensive driver, claim-free, good student, accident-free, good driver, multi-policy
- Farm Bureau may have discounts that include multi-policy, good student, safe driver, youthful driver, and driver training.
- GEICO has discounts for five-year accident-free, federal employee, defensive driver, daytime running lights, and multi-policy.
- SAFECO offers discounts for teen safety rewards, drive less, anti-lock brakes, teen safe driver, anti-theft, and multi-car.
The diagram below visualizes the comparison of car insurance costs with and without policy discounts. Data assumes a male driver, no accidents or driving violations, Indiana state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with claim-free, multiple policy, anti-theft, homeowner, marriage, and multiple vehicle discounts applied. When discounts are applied, the average amount saved each year on insurance for a Toyota Tacoma is 28% or $476.
Last year's bargain might be this year's rip off
Indiana insurance rates are impacted by many things which can substantially change the cost of your policy. Simply having a birthday, buying a home, or having a fender bender can cause premium changes resulting in some rates now being more affordable than others.
In addition to those changes, companies change rates at least once a year as an adjustment for underwriting gains or losses. Higher than normal claims may cause additional price hikes, while lower claims may cause lower-cost Tacoma insurance rates.
To illustrate this point, the chart below compares the cheapest car insurance in Indiana for a 40-year-old male driver with no accidents or violations, and a good credit history. If we look at prices based on his personal profile, Travelers quotes the lowest car insurance rates in Indiana at $620 a year. This is $620 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and The Hartford also make the list of the cheapest Indiana auto insurance companies.
The next chart shows rates after we give the driver from the first example a chargeable accident, poor credit, and a stop sign violation. Due to the fact that each insurance company has a proprietary method for setting prices, analyzing rate quotes may result in a different ranking of the cheapest companies as shown below.
Indiana Farmers Mutual now has the lowest price on auto insurance in Indiana with Auto-Owners, USAA, Nationwide, and Motorists Mutual also having competitive pricing. This example shows why Indiana drivers need to perform an extensive rate comparison to get the lowest auto insurance quotes for a Toyota Tacoma. Auto insurance prices are determined by many different factors and can decrease or increase without notice, so the best option the last time you compared rates may now not even be in the top five.