Save Money on Toyota Tundra Insurance in Miami

It’s well known that car insurance companies don’t want you comparing rates. People who shop for lower prices will presumably buy a different policy because of the high probability of finding more affordable rates. Surprisingly, a recent survey revealed that consumers who compared price quotes annually saved approximately $865 annually compared to other drivers who never compared prices.

If finding the cheapest rates on Toyota Tundra insurance in Miami is your objective, learning how to quote and compare insurance can save money and time.

Discount Toyota Tundra insuranceThe best way to find affordable quotes for auto insurance rates in Miami is to compare prices once a year from providers in Florida. You can compare rates by following these guidelines.

  1. Read about policy coverages and the changes you can make to drop your rates. Many rating factors that cause rate increases such as traffic citations and a not-so-good credit history can be remedied by being financially responsible and driving safely.
  2. Obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like Progressive or Farmers Insurance, while independent agencies can provide prices for a wide range of insurance providers.
  3. Compare the quotes to the price on your current policy and determine if cheaper Tundra coverage is available. If you can save money, ensure there is no coverage lapse between policies.
  4. Tell your current company of your intent to cancel your current car insurance policy and submit a down payment along with a signed application to your new carrier. Once the application is submitted, put the new certificate verifying proof of insurance along with your vehicle registration.

A tip to remember is that you’ll want to make sure you compare identical coverages on every quote and and to get price estimates from as many different companies as possible. This helps ensure an apples-to-apples comparison and a complete rate analysis.

The companies shown below provide price comparisons in Florida. In order to find the best car insurance in Miami, we recommend you click on several of them in order to find the most affordable rates.

Why you need insurance

Even though Miami Tundra insurance rates can get expensive, insurance serves several important purposes.

The benefits of insuring your Tundra definitely exceed the price paid, particularly if you ever have a claim. Unknowingly, the average driver is overpaying more than $869 every year so it’s recommended you shop around every year to save money.

Insurance coverage details

The coverage table below covers a range of insurance premium costs for Toyota Tundra models. Having a good understanding how auto insurance prices are established is important for making informed coverage decisions.

Toyota Tundra Insurance Rates in Miami, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tundra Regular Cab 2WD $224 $414 $570 $34 $170 $1,412 $118
Tundra SR/5 Double Cab 2WD $256 $504 $570 $34 $170 $1,534 $128
Tundra SR/5 Crew Max 2WD $256 $504 $570 $34 $170 $1,534 $128
Tundra Regular Cab 4WD $290 $504 $570 $34 $170 $1,568 $131
Tundra Double Cab 4WD $290 $504 $570 $34 $170 $1,568 $131
Tundra SR/5 Double Cab 4WD $290 $504 $570 $34 $170 $1,568 $131
Tundra Limited Double Cab 2WD $290 $594 $570 $34 $170 $1,658 $138
Tundra Limited Crew MAX 2WD $290 $594 $570 $34 $170 $1,658 $138
Tundra Limited Crew MAX 4WD $322 $594 $570 $34 $170 $1,690 $141
Tundra SR/5 Crew Max 4WD $322 $594 $570 $34 $170 $1,690 $141
Get Your Own Custom Quote Go

Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rate information does not factor in specific location which can influence insurance rates greatly.

Where to set your deductibles

When comparing insurance rates, the most common question is what deductibles to buy. The comparisons below may help you to understand the difference in cost when you select higher and lower policy deductibles. The first rate quote example uses a $250 deductible for comp and collision and the second set of rates uses a $1,000 deductible.

Toyota Tundra insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tundra Regular Cab 2WD $280 $446 $472 $28 $142 $1,393 $116
Tundra SR/5 Double Cab 2WD $322 $544 $472 $28 $142 $1,533 $128
Tundra SR/5 Crew Max 2WD $322 $544 $472 $28 $142 $1,533 $128
Tundra Regular Cab 4WD $364 $544 $472 $28 $142 $1,575 $131
Tundra Double Cab 4WD $364 $544 $472 $28 $142 $1,575 $131
Tundra SR/5 Double Cab 4WD $364 $544 $472 $28 $142 $1,575 $131
Tundra Limited Double Cab 2WD $364 $640 $472 $28 $142 $1,671 $139
Tundra Limited Crew MAX 2WD $364 $640 $472 $28 $142 $1,671 $139
Tundra Limited Crew MAX 4WD $406 $640 $472 $28 $142 $1,713 $143
Tundra SR/5 Crew Max 4WD $406 $640 $472 $28 $142 $1,713 $143
Get Your Own Custom Quote Go

Toyota Tundra insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tundra Regular Cab 2WD $174 $280 $472 $28 $142 $1,096 $91
Tundra SR/5 Double Cab 2WD $200 $342 $472 $28 $142 $1,184 $99
Tundra SR/5 Crew Max 2WD $200 $342 $472 $28 $142 $1,184 $99
Tundra Regular Cab 4WD $224 $342 $472 $28 $142 $1,208 $101
Tundra Double Cab 4WD $224 $342 $472 $28 $142 $1,208 $101
Tundra SR/5 Double Cab 4WD $224 $342 $472 $28 $142 $1,208 $101
Tundra Limited Double Cab 2WD $224 $402 $472 $28 $142 $1,268 $106
Tundra Limited Crew MAX 2WD $224 $402 $472 $28 $142 $1,268 $106
Tundra Limited Crew MAX 4WD $250 $402 $472 $28 $142 $1,294 $108
Tundra SR/5 Crew Max 4WD $250 $402 $472 $28 $142 $1,294 $108
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Estimates do not factor in vehicle garaging location which can revise prices substantially.

We can derive from the above data that using a $250 deductible could cost the average driver approximately $31 more each month or $372 every year than buying the higher $1,000 deductible. Because you would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to have at a minimum 24 months between claim filings, you would probably save some money if you choose the higher deductible.

How to calculate deductible break even period

Average monthly premium for $250 deductibles: $133
Average monthly premium for $1,000 deductibles (subtract): – $102
Monthly savings from raising deductible: $31
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $31
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 24 months

One important caveat is that increasing deductibles to save money means you will have to pay more if you have a claim. You need to make sure you have some extra funds in order to pay the deductible.

Responsible drivers pay cheaper insurance rates

The illustration below demonstrates how speeding tickets and at-fault claims influence Toyota Tundra insurance premiums for different categories of driver ages. The prices are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.

Insurance rates by age and gender in Miami

The chart below compares Toyota Tundra car insurance rates for male and female drivers. The data assumes no claims or violations, full physical damage coverage, $500 deductibles, single status, and no policy discounts are applied.

Liability only or full coverage

The chart below shows the comparison of Toyota Tundra auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on no claims, a clean driving record, $100 deductibles, single marital status, and no policy discounts are applied.

Are you wasting money on full coverage?

There is no definitive formula of when to eliminate full coverage on your policy, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your Toyota Tundra book value is $8,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $7,000 after paying your deductible. If it’s costing in excess of $700 a year for full coverage, then you might want to think about dropping full coverage.

There are some conditions where eliminating full coverage is not a good idea. If you haven’t paid off your loan, you have to keep full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not opt for liability only.

Affordable Miami car insurance rates with discounts

Some providers don’t always publicize every discount available very well, so the following list contains a few of the more common and also the lesser-known discounts you could be receiving when you buy Miami auto insurance online.Discount car insurance

As a disclaimer on discounts, some of the credits will not apply to the whole policy. Some only reduce individual premiums such as comp or med pay. So when the math indicates adding up those discounts means a free policy, you’re out of luck. Any amount of discount should help lower your car insurance premiums.

The information below shows the comparison of Toyota Tundra premium costs with and without discounts applied. The data assumes a female driver, no violations or accidents, Florida state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, homeowner, claim-free, multi-policy, and multi-car discounts applied.

Companies and a selection of discounts are included below.

Before you buy a policy, ask each company which credits you are entitled to. Some credits may not apply in Miami. To see insurers that have a full spectrum of discounts in Florida, click this link.

Shop online but buy locally

Many drivers prefer to buy from a local agent and that is just fine! Insurance agents can make sure you are properly covered and help in the event of a claim. One of the great benefits of comparing auto insurance online is you can get better rates but still work with a licensed agent.

Miami insurance agentsAfter completing this form (opens in new window), your insurance coverage information is submitted to participating agents in Miami who will gladly provide quotes for your coverage. It’s much easier because you don’t need to contact an agency as quotes are delivered to you directly. If you want to get a price quote for a specific company, you just need to go to their quote page and fill out their quote form.

Choosing an provider needs to be determined by more than just the quoted price. These questions are important to ask:

Multiple types of auto insurance agents in Miami

When narrowing the list to find local Miami agents, it helps to know the two different types of agencies and how they can write your policy. Auto insurance agents in Miami may be either independent agents or exclusive agents. Both types can insure your vehicles, but it’s a good idea to understand the difference between them since it could factor into buying decisions.

Exclusive Insurance Agents

Exclusive insurance agents are contracted to one company and some examples include State Farm, Allstate, and Farm Bureau. Exclusive agents cannot compare other company’s rates so you might not find the best rates. Exclusive agents are well trained on what they offer which helps them sell insurance even at higher premiums.

Shown below is a short list of exclusive agents in Miami that can give you comparison quotes.

6701 Sunset Dr #115South Miami, FL 33143(305) 661-7667View Map

141 Alton RdMiami Beach, FL 33139(305) 531-1223View Map

2455 SW 27th Ave #210Miami, FL 33145(305) 859-8556View Map

View more agents

Independent Auto Insurance Agents

Agents that choose to be independent do not have single company limitations and that is an advantage because they can write policies with a variety of different insurance companies and help determine which has the cheapest rates. If you want to switch companies, the agent simply finds a different carrier and you can keep the same agent.

When comparing rates, it’s recommended you get quotes from at least one independent agent to get the most accurate price comparison.

Shown below is a short list of independent agents in Miami who can help you get comparison quotes.

CHECKMARK INSURANCE AGENCY – Auto and Homeowners Insurance Agents
1375 NW 36th StMiami, FL 33142(305) 638-1280View Map

1241 SW 27th AveMiami, FL 33135(888) 700-4049View Map

3132 NW 7th StMiami, FL 33125(305) 649-1800View Map

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Do the work, save more money

When buying insurance coverage, make sure you don’t sacrifice coverage to reduce premiums. There are a lot of situations where someone sacrificed physical damage coverage and learned later that the savings was not a smart move. Your goal should be to buy a smart amount of coverage at a price you can afford, but do not skimp to save money.

You just read many ideas to find lower-cost Toyota Tundra insurance in Miami. It’s most important to understand that the more quotes you get, the higher the chance of saving money. You may even be surprised to find that the lowest auto insurance rates are with the smaller companies. Smaller companies may cover specific market segments cheaper than their larger competitors like Allstate or State Farm.

Even more information is located at these sites: