Finding affordable car insurance for a Toyota Camry relies on many rating criteria such as how safe your vehicle is, if you have prior claims, and driving violations. Virginia drivers pay on average $800 annually to insure their Camry, but that cost is calculated based on a 40-year-old married male driver with full comprehensive and collision coverage and $100 deductibles.
It’s highly likely you’re not a 40-year-old male, you might be single instead of married, and you may just want the cheapest liability coverage you can find. The different assumptions illustrate why the way we recommend to find cheap insurance rates for your Toyota is to just compare rates yourself. Compare rate quotes now and you will receive prices from some of the best companies that sell coverage in Virginia.
The specific model of Camry can impact the yearly cost, so the rate you pay to insure a Camry LE model will be $138 less expensive the price to insure the more costly Camry Hybrid version, as shown in the chart below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Camry LE | $202 | $368 | $266 | $16 | $80 | $932 | $78 |
| Camry SE | $202 | $434 | $266 | $16 | $80 | $998 | $83 |
| Camry XLE | $202 | $434 | $266 | $16 | $80 | $998 | $83 |
| Camry Hybrid | $228 | $434 | $300 | $18 | $90 | $1,070 | $89 |
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Rates do not factor in zip code location which can modify auto insurance rates greatly.
Locating reasonably-priced auto insurance is not easy, and figuring out which insurers offer the most affordable insurance rates for a Toyota Camry takes more quotes for comparison. Every insurance company has a proprietary formula for determining rates in each state, so we need to take a look at the most budget-friendly insurance companies in Virginia.
Cheap Insurance Rates for Your Camry
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $673 |
| 2 | USAA | $695 |
| 3 | Penn National | $718 |
| 4 | Cincinnati Insurance | $733 |
| 5 | Utica National | $781 |
| 6 | Auto-Owners | $788 |
| 7 | The Hartford | $801 |
| 8 | Erie | $812 |
| 9 | Virginia Farm Bureau | $826 |
| 10 | Donegal Mutual | $860 |
| 11 | Nationwide | $953 |
| 12 | Allied | $1,022 |
| 13 | ALFA | $1,028 |
| 14 | GEICO | $1,036 |
| 15 | National Grange Mutual | $1,060 |
| 16 | State Farm | $1,099 |
| 17 | Chubb | $1,112 |
| 18 | Electric | $1,192 |
| 19 | Progressive | $1,246 |
| 20 | Amica | $1,267 |
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Travelers has some of the best car insurance rates in Virginia Beach at around $673 per year. This is $485 less than the average premium paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Utica National also rank well as some of the lowest-priced Virginia Beach, VA auto insurance companies.
As shown above, if you are currently insured with Cincinnati Insurance and switched to Travelers, you might see an annual savings of about $60. Virginia drivers with Utica National could save as much as $108 a year, and Auto-Owners customers might see rate reductions of $115 a year.
Bear in mind that those premium estimates are averages for all drivers and vehicles in Virginia and do not take into consideration an exact location for a Toyota Camry. So the company that fits your needs best may not even be in the list above. That affirms the importance of why you need to get auto insurance quotes using your own individual information.
Comparison of full coverage and liability-only policies
Paying a lower price for insurance is the goal of most drivers, and one of the quickest ways to buy cheaper insurance for a Toyota Camry is to only pay for liability coverage. The information below shows the difference between yearly insurance costs with full physical damage coverage and with liability coverage only. The data assumes no accidents or driving violations, $100 deductibles, single marital status, and no discounts are factored in.
Averaged for all age groups, comprehensive and collision coverage on your policy costs an additional $2,017 per year more than just buying liability only. That is a large expense which might make you wonder if you should buy full coverage. There isn’t a written rule to stop paying for physical damage insurance, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement cost is $9,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $8,500 after paying your policy deductible. If you are paying in excess of $850 annually for full coverage, then you may need to consider dropping full coverage.
There are some situations where dropping physical damage coverage is not in your best interest. If you still owe money on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage.
Poor driving habits will raise your insurance rates
The ideal way to obtain good insurance rates for a Camry is to be a good driver and avoid accidents and traffic violations. The example below demonstrates how speeding tickets and at-fault collisions raise auto insurance rates for each age group. The costs are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.
In the prior example, the average cost of car insurance in Virginia per year with a clean driving record and no accidents is $1,442. Factor in two speeding tickets and the average cost increases to $1,904, an increase of $462 each year. Then add in two accidents along with the two speeding tickets and the yearly cost of insurance for a Toyota Camry goes up to an average of $3,702. That’s an increase of $2,261, or $188 per month, just for not maintaining a clean driving record!
Get discount Virginia Beach auto insurance rates
Insurance companies that sell policies for a Toyota Camry may additionally offer premium discounts that can lower rates by as much as 25% or more if you meet eligibility requirements. A list of insurance companies and the discounts they provide are shown below.
- State Farm has savings for multiple autos, anti-theft, Drive Safe & Save, good driver, accident-free, Steer Clear safe driver discount, and good student.
- GEICO offers discounts for defensive driver, anti-lock brakes, federal employee, air bags, and multi-vehicle.
- Allstate discounts include EZ pay plan discount, passive restraint, teenSMART discount, senior citizen, premier discount, and anti-lock brakes.
- SAFECO includes discounts for teen safe driver, drive less, accident prevention training, anti-lock brakes, teen safety rewards, and anti-theft.
- Farm Bureau offers discounts including 55 and retired, good student, multi-vehicle, youthful driver, and multi-policy.
- Progressive offers premium reductions for multi-vehicle, homeowner, good student, online signing, and online quote discount.
- AAA may have discounts that include pay-in-full, anti-theft, multi-policy, education and occupation, good driver, and good student.
The example below visualizes the comparison of insurance premiums with and without discounts being applied to the rates. The costs are based on a male driver, no claims, a clean driving record, Virginia state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with multiple vehicle, vehicle safety, defensive driving course, multiple policy, marriage, and anti-theft discounts applied. When drivers take advantage of discounts, the average amount saved each year on insurance for a Toyota Camry is 28% or $522.