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Insuring Your Toyota

In 1894, Toyota Motor Company founder Kiichiro Toyoda was born. After many years of hard work and sacrifice, he completed his first A1 prototype in 1935. Since then, Toyota has grown to become one of the worlds most successful car manufactures. With a focus on technology and branding, Toyota continues to expand internationally. Today, Toyota offers its customer a wide variety of vehicles including cars, trucks, SUVs, minivans, and hybrid vehicles. Some of the most popular vehicles include the:

• Camry (available in both standard and hybrid systems)
• Corolla
• Yaris
• Prius (hybrid)
• Tacoma
• Tundra
• Sienna
• Highlander (available in both standard and hybrid systems)

Once you have chosen the perfect vehicle to meet your needs and desires, take the time to investigate exactly how much it will cost to insure it. Of course, personal factors like age, sex, driver's history, and location will all affect the cost of your insurance policy. However, there are other factors including:

Cost of repair

Toyotas are not as expensive to repair as other less purchased brands such as Ferrari or Jaguar. This is because of the overwhelmingly large amount of parts available for each model of Toyota. The low cost is also due to the immense popularity of Toyota. Most auto repair technicians are familiar with Toyota and their products and therefore, drivers will have more options to choose from when a repair is needed.

Toyota also offers warranties with new models, which will help to reduce the cost of repair. Typically, these warranties are offered for up to 100,000 miles and include the repair costs on major drive-train parts such as the transmission and engine. Extended warranties are also typically available to include the repair costs of items such as air conditioning. Depending on the dealer, warranties are also available for used Toyotas as well.

Theft rate

Unfortunately, Toyotas are often listed in the top ten most stolen cars each year. For example, the Toyota Camry is consistently listed in the top ten due to its desirable parts. However, there are many ways to offset this fact, and help reduce your auto insurance rate. Some of the ways to decrease the possibility of theft include the installation of:

• an insurance recommended anti-theft device such as siren alarms and electronic disablers
• wheel and hood locks
• vehicle tracking devices

Luxury vs. economy

It may go without saying, but a more expensive car is going to cost more to insure. This rule of thumb also applies to Toyota vehicles. For example, The Avalon (Toyota's luxury model), will cost more to insure than an entry model such as the Toyota Echo. Of course, you should contact each insurance company before you purchase your vehicle because they have different policy guidelines.

Insuring a hybrid

With increasing fuel costs, more and more drivers are choosing to purchase hybrid vehicles everyday. Hybrid technology continues to expand with each new model year, and is now offered in traditional gas-guzzlers like SUVs. However, owning a hybrid vehicle comes with a price. Initially, hybrid owners will pay a higher price tag. Typically, this is about $2,500 to $3,000 more than a non-hybrid equivalent.

However, there are cost offsets. First, there is the fuel efficiency. The overall m.p.g. of the Toyota Prius vs. a non-hybrid is a staggering 46 to 27.6. This difference would typically allow you to recoup the higher price you paid before your loan is paid off. Hybrids like all other Toyotas, come with a warranty and are considered to be very reliable. You may also find that your specific insurance carrier will offer an additional discount to Hybrid drivers since they are less likely to be involved in an accident.

Popularity

Toyotas remain consistently popular for a reason. They are cost and fuel efficient, and more often than not are cheaper to insure than other brands. With fuel costs continuing to rise, and with the uncertainty of the economy, buying a Toyota today is as smart a financial decision as it ever has been. Not only will you save on the initial purchase of you car, but will also be able to take advantage of insurance breaks offered to Toyota drivers. Buy smart and drive safe!