Compare Toyota Tundra Insurance Rates in Madison

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I really doubt anyone looks forward to paying premiums for auto insurance, in particular when the price is too high.

Insurance quote for Toyota Tundra in MadisonA recent survey discovered that the vast majority of drivers have bought auto insurance from the same company for more than four years, and almost half have never compared rates with other companies. With the average premium in Wisconsin being $1,300, drivers could save nearly $400 every year by just comparing rate quotes, but most undervalue how much they could save if they switched to a cheaper policy.

Due to the abundance of different company options, it can be difficult for people to find the right company.

You need to do rate comparisons as often as possible because insurance prices are rarely the same from one policy term to another. Even if you got the best deal on Toyota Tundra insurance in Madison on your last policy you can probably find a better rate quote now. Block out anything you think you know about auto insurance because I'm going to let you in on the secrets to the only way to eliminate unnecessary coverages and save money on Toyota Tundra insurance in Madison.

Buying the cheapest auto insurance in Madison is quite easy. Just about every vehicle owner who is required by state law to have auto insurance will find a lower-cost policy. But Wisconsin vehicle owners do need to know the way insurance companies compete online and use it to your advantage.

Lower your insurance rates with discounts

Car insurance companies don't necessarily list every policy discount very well, so the list below details both the well known and also the more inconspicuous insurance savings.

  • Service Members Pay Less - Being deployed with a military unit could qualify you for better prices.
  • Discounts for Seat Belt Usage - Requiring all passengers to wear their seat belts can save up to 10 percent (depending on the company) on the medical payments or PIP coverage costs.
  • Theft Deterrent Discount - Vehicles equipped with tracking devices and advanced anti-theft systems help deter theft and that can save you a little bit as well.
  • Multi-policy Discount - When you combine your home and auto insurance with one insurance company you could get a discount of approximately 10% to 15%.
  • Passenger Safety Discount - Vehicles equipped with air bags and/or automatic seat belt systems can receive discounts up to 30%.

Consumers should know that most credits do not apply to all coverage premiums. Most cut specific coverage prices like comp or med pay. So even though you would think you could get a free insurance policy, it's just not the way it works.

The chart below illustrates the comparison of Toyota Tundra annual premium costs with and without discounts applied to the premium. The price estimates are based on a male driver, no accidents or driving violations, Wisconsin state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-car, multi-policy, homeowner, and marriage discounts applied.

Companies and a summarized list of policyholder discounts are:

  • Progressive may have discounts that include online quote discount, multi-policy, online signing, good student, multi-vehicle, continuous coverage, and homeowner.
  • Farmers Insurance has savings for early shopping, electronic funds transfer, multi-car, distant student, teen driver, and good student.
  • Farm Bureau offers premium reductions for youthful driver, multi-policy, driver training, safe driver, and multi-vehicle.
  • State Farm offers discounts for good student, Drive Safe & Save, student away at school, accident-free, anti-theft, safe vehicle, and defensive driving training.
  • GEICO policyholders can earn discounts including federal employee, good student, defensive driver, multi-policy, and emergency military deployment.
  • SAFECO offers discounts including teen safe driver, drive less, accident prevention training, multi-car, anti-theft, and safe driver.
  • Liberty Mutual may include discounts for new move discount, multi-car, multi-policy, good student, and exclusive group savings.

If you need lower rates, check with each company which discounts they offer. Depending on the company, some discounts may not be offered in your area. To view insurance companies who offer discounts in Wisconsin, click here to view.

How to find cheap Toyota Tundra insurance in Madison

When shopping for Toyota Tundra insurance in Madison there are multiple ways to obtain and compare prices from companies that offer insurance in Wisconsin. The recommended way to find affordable Toyota Tundra insurance rates is to perform an online rate comparison.

Comparing rates online is fast and free, and it makes it a waste of time to call or drive to all the different Madison insurance agencies. Comparing Toyota Tundra insurance rate quotes online reduces the need to sit down with an agent unless you have a need for the peace of mind that you can only get from talking to an agent. You can, however, find lower rates online but have your policy serviced through an agent. When comparing insurance rates, know that comparing a large number of companies helps improve the odds of finding a lower rate than you're paying now.

The companies shown below offer free quotes in Madison, WI. To locate the cheapest auto insurance in WI, it's highly recommended you compare several of them to get a more complete price comparison.

Toyota Tundra coverage analysis

The coverage information shown below highlights a range of insurance coverage prices for Toyota Tundra models. Learning a little about how insurance policy rates are figured can help guide drivers when making informed decisions when comparing rate quotes.

Toyota Tundra Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tundra Regular Cab 2WD $156 $270 $268 $16 $80 $790 $66
Tundra SR/5 Double Cab 2WD $180 $328 $268 $16 $80 $872 $73
Tundra SR/5 Crew Max 2WD $180 $328 $268 $16 $80 $872 $73
Tundra Regular Cab 4WD $204 $328 $268 $16 $80 $896 $75
Tundra Double Cab 4WD $204 $328 $268 $16 $80 $896 $75
Tundra SR/5 Double Cab 4WD $204 $328 $268 $16 $80 $896 $75
Tundra Limited Double Cab 2WD $204 $388 $268 $16 $80 $956 $80
Tundra Limited Crew MAX 2WD $204 $388 $268 $16 $80 $956 $80
Tundra Limited Crew MAX 4WD $226 $388 $268 $16 $80 $978 $82
Tundra SR/5 Crew Max 4WD $226 $388 $268 $16 $80 $978 $82
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Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Information does not factor in specific location which can decrease or increase coverage prices substantially.

Policy deductibles

The hardest decision when buying coverage is how high should the physical damage deductibles be. The figures shown below lay out the difference in cost between low and high insurance deductibles. The first rate estimation uses a $100 physical damage coverage deductible and the second price grid uses a $500 deductible.

Toyota Tundra insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tundra Regular Cab 2WD $172 $294 $260 $16 $78 $845 $70
Tundra SR/5 Double Cab 2WD $198 $358 $260 $16 $78 $935 $78
Tundra SR/5 Crew Max 2WD $198 $358 $260 $16 $78 $935 $78
Tundra Regular Cab 4WD $224 $358 $260 $16 $78 $961 $80
Tundra Double Cab 4WD $224 $358 $260 $16 $78 $961 $80
Tundra SR/5 Double Cab 4WD $224 $358 $260 $16 $78 $961 $80
Tundra Limited Double Cab 2WD $224 $422 $260 $16 $78 $1,025 $85
Tundra Limited Crew MAX 2WD $224 $422 $260 $16 $78 $1,025 $85
Tundra Limited Crew MAX 4WD $248 $422 $260 $16 $78 $1,049 $87
Tundra SR/5 Crew Max 4WD $248 $422 $260 $16 $78 $1,049 $87
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Toyota Tundra insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tundra Regular Cab 2WD $126 $198 $260 $16 $78 $678 $57
Tundra SR/5 Double Cab 2WD $144 $242 $260 $16 $78 $740 $62
Tundra SR/5 Crew Max 2WD $144 $242 $260 $16 $78 $740 $62
Tundra Regular Cab 4WD $164 $242 $260 $16 $78 $760 $63
Tundra Double Cab 4WD $164 $242 $260 $16 $78 $760 $63
Tundra SR/5 Double Cab 4WD $164 $242 $260 $16 $78 $760 $63
Tundra Limited Double Cab 2WD $164 $284 $260 $16 $78 $802 $67
Tundra Limited Crew MAX 2WD $164 $284 $260 $16 $78 $802 $67
Tundra Limited Crew MAX 4WD $182 $284 $260 $16 $78 $820 $68
Tundra SR/5 Crew Max 4WD $182 $284 $260 $16 $78 $820 $68
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Estimates do not factor in the specific area where the vehicle is garaged which can change insurance rates noticeably.

Based on the data above, we can derive that using a $100 deductible costs about $17 more each month or $204 each year than buying the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you usually have at a minimum 24 months between claims, you would save more money if you decide on a higher deductible.

Full coverage rates vs. liability-only

The illustration below illustrates the difference between Toyota Tundra insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Wisconsin. The rates are based on no accidents, no driving violations, $100 deductibles, drivers are single, and no other discounts are factored in.

When to stop paying for full coverage

There is no definitive guideline for phasing out physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.

For example, let's pretend your Toyota Tundra replacement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,000 after the deductible is paid. If it's costing you more than $300 annually for your policy with full coverage, then you may need to consider dropping full coverage.

There are some scenarios where only buying liability is not advised. If you haven't satisfied your loan, you have to carry full coverage to protect the lienholder's interest. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should not opt for liability only.

Lower Insurance Rates with These Tips

Consumers need to have an understanding of some of the elements that help determine your premiums. When consumers understand what controls the rates you pay, this helps enable you to make changes that may result in much lower annual insurance costs. Many factors are used when you get your auto insurance bill. Some are obvious such as your driving record, although some other factors are less apparent like where you live or your vehicle rating.

Get married and get better premiums - Being married can actually save you money on your car insurance bill. Having a spouse usually means you are more financially stable and insurance companies like that married drivers tend to have fewer serious accidents.

Extra policy coverages can add up - There are quite a few optional add-on coverages that you can buy on your car insurance policy. Coverages for replacement cost coverage, better glass coverage, and term life insurance could be just wasting money. You may think they are a good idea at first, but if you have no use for them remove them from your policy.

Higher rates for tough employers - Did you know your occupation can influence how much you pay for car insurance? Occupations like military generals, executives, and miners tend to have higher premiums than the average policyholder because of job stress and lots of time spent away from family. Other jobs such as farmers, engineers and the unemployed pay the least.

Lower car insurance rates by staying claim free - If you file a lot of claims you shouldn't be surprised to get either policy cancellation or increased premiums. Auto insurance companies in Wisconsin give cheaper rates to drivers who do not rely on their insurance for small claims. Auto insurance is meant to be used in the event of the bigger claims that can't be paid out-of-pocket.

Prices go up with performance - The make and model of the vehicle you are insuring makes a big difference in your premium level. Smaller low performance passenger cars receive the most favorable rates, but many other things help determine your insurance rates.

The chart below uses these variables: single female driver age 30, full coverage with $1000 deductibles, and no discounts or violations. The data compares Toyota Tundra rates compared to other models of vehicles that have a range of risk factors.

Safer vehicles cost less to insure - Vehicles with high crash test scores tend to have lower insurance rates. Vehicles engineered for safety reduce the chance of injuries and reduced instances of injuries means your insurance company pays less and thus lower rates. If your Toyota Tundra earned at least an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may be receiving a better rate.

Bundle policies with the same company - Most larger insurers provide discounts to people who have multiple policies with them. It's known as a multi-policy discount. Even though this discount sounds good, consumers should still comparison shop to help guarantee you have the best rates. You may still be able to find better rates even if you have your coverage with different companies

Insurance loss probability for a Toyota Tundra - Insurers take into consideration historical loss data for every vehicle to calculate a rate that offsets possible losses. Models that the statistics show to have increased losses will have higher rates for specific coverages.

The information below illustrates the collected loss data for Toyota Tundra vehicles. For each policy coverage type, the statistical loss for all vehicles as a whole is set at 100. Numbers under 100 suggest a better than average loss history, while values that are above 100 indicate more frequent claims or tendency to have higher losses.

Insurance Loss Ratings for Toyota Tundra Vehicles
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Toyota Tundra CrewMax 2WD 88 105 96 63 75 94
Toyota Tundra CrewMax 4WD 97 113 105 64 51 77
Toyota Tundra Double Cab 2WD 95 131 90 85 84 107
Toyota Tundra Double Cab 4WD 86 112 93 53 55 79
Toyota Tundra Double Cab LWB 4WD 93 115 69

Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Buying from insurance agencies

Many people prefer to buy from a licensed agent and doing that can be a smart decision An additional benefit of price shopping on the web is that you can find better rates and still buy from a local agent.

To help locate an agent, after submitting this form (opens in new window), the coverage information is instantly submitted to agents in your area who will gladly provide quotes for your business. It simplifies rate comparisons since you won't have to search for any insurance agencies since price quotes are sent to you. You'll get the best rates without requiring a lot of work. If you want to compare prices from a specific insurance provider, you would need to search and find their rate quote page to submit a rate quote request.

Deciding on an insurance company requires more thought than just a low price. Some important questions to ask are:

  • How much training do they have in personal risk management?
  • What insurance companies do they work with in Madison?
  • Are they paid to recommend certain coverages?
  • Can they help ensure a fair claim settlement?
  • Is working in the agency their full-time job?
  • Has the agent ever had any license suspensions?
  • Is there a local claims center in Madison?
  • If you have an accident, will your rates go up?

Listed below is a list of car insurance companies in Madison willing to provide rate quotes for Toyota Tundra insurance in Madison.

828 John Nolen Dr - Madison, WI 53713 - (608) 273-0655 - View Map

658 S Gammon Rd #202 - Madison, WI 53719 - (608) 274-9702 - View Map

2980 Cahill Main #205 - Madison, WI 53711 - (608) 630-9776 - View Map

3821 Nakoma Rd - Madison, WI 53711 - (608) 231-2453 - View Map

More insurance agents

Once you have acceptable answers in addition to an acceptable price estimate, it's a good possibility that you have found an insurer that meets the requirements to properly insure your vehicles. Just be aware that it's your coverage and you can cancel a policy whenever you wish so don't think that you are obligated to the insurance policy with no way out.

Three reasons insurance is important

Despite the fact that insurance is not cheap in Madison, maintaining insurance is required by state law in Wisconsin and it also provides benefits you may not be aware of.

First, most states have mandatory liability insurance requirements which means you are required to carry a minimum amount of liability in order to drive the car legally. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you took out a loan on your vehicle, almost all lenders will force you to have insurance to guarantee payment of the loan. If you do not keep the policy in force, the bank or lender will purchase a policy for your Toyota at a significantly higher premium and require you to pay for the much more expensive policy.

Third, insurance protects both your Toyota Tundra and your personal assets. It will also cover medical transport and hospital expenses for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney in the event you are sued. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.

The benefits of insuring your car outweigh the cost, particularly for liability claims. But the average driver in Wisconsin is overpaying over $750 every year so compare quotes from several companies at every policy renewal to ensure rates are competitive.

Persistence will pay off

When buying insurance coverage, do not sacrifice coverage to reduce premiums. There are a lot of situations where someone dropped uninsured motorist or liability limits and discovered at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to get the best coverage possible for the lowest price, but do not sacrifice coverage to save money.

The cheapest Toyota Tundra insurance in Madison is definitely available online and from local insurance agents, and you need to price shop both to have the best chance of lowering rates. Some companies may not provide online price quotes and many times these regional insurance providers work with independent insurance agents.

In this article, we covered some good ideas how you can save on Toyota Tundra insurance in Madison. The most important thing to understand is the more providers you compare, the higher the chance of saving money. You may even find the best price on insurance is with a smaller regional carrier. Regional companies may often insure only within specific states and give better rates as compared to the big name companies such as Progressive or GEICO.

How to find cheaper Toyota Tundra insurance in Madison

If you want to save money, the best way to find cheaper quotes for car insurance rates is to make a habit of comparing prices annually from providers that insure vehicles in Madison. You can shop around by following these guidelines.

  1. Take a few minutes and learn about policy coverages and the changes you can make to prevent expensive coverage. Many risk factors that drive up the price like getting speeding tickets and an imperfect credit rating can be remedied by making small lifestyle or driving habit changes.
  2. Compare rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from one company like GEICO or Farmers Insurance, while agents who are independent can quote rates from multiple companies. View insurance agents
  3. Compare the new rate quotes to your existing rates and determine if cheaper Tundra coverage is available. If you can save some money, verify that coverage does not lapse between policies.
  4. Provide notification to your current agent or company of your decision to cancel your current coverage and submit a completed policy application and payment to the newly selected company. As soon as you have the new policy, place your new proof of insurance certificate in your vehicle's glove compartment or console.

A tip to remember is to use identical coverages on each quote and to quote with as many companies as possible. Doing this ensures an accurate price comparison and a better comparison of the market.

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