What Auto Insurance is Cheapest for a Toyota Corolla in Philadelphia?

Finding affordable coverage for a Toyota Corolla in Pennsylvania hinges on a complex formula that considers things such as miles driven annually, if you have a tendency to file claims, and driving violations and tickets. Pennsylvania drivers pay around $934 per year to insure their Corolla, but that amount is using a 50-year-old married male driver with full physical damage coverage and $100 deductibles.

Odds are that you may not be 50 years old (or even male), you might be single instead of married, or maybe you are just looking for cheap liability insurance. Everone’s needs are different, and this illustrates why the best way to find the cheapest rates for your Toyota is to do the rate comparisons yourself.

Compare Toyota Corolla Insurance Rates

The trim level of your vehicle will likely have an effect on price, so the price you will pay to insure a Corolla LE trim level will be $30 cheaper than the insurance cost for the higher-priced Corolla XRS model, as demonstrated by the prices below.

Toyota Corolla Insurance Rates in Philadelphia, PA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $220 $512 $316 $18 $94 $1,160 $97
Corolla S $220 $512 $316 $18 $94 $1,160 $97
Corolla XLE $220 $512 $316 $18 $94 $1,160 $97
Corolla XRS $250 $512 $316 $18 $94 $1,190 $99
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Table data represents married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Table data does not factor in specific garaging location which can lower or raise premium rates considerably.

Determining which company offers the cheapest auto insurance rates for a Toyota Corolla involves more time in order to find coverage that fits your budget. Each company uses their own method for setting rates, so we’ll go over the most affordable auto insurance companies in Pennsylvania.

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Who has the cheapest car insurance in Pennsylvania?
Rank Company Cost Per Year
1 General Casualty $718
2 Erie $800
3 Travelers $811
4 USAA $817
5 Penn National $832
6 Auto-Owners $963
7 Atlantic States $1,005
8 Amica $1,012
9 Donegal Mutual $1,058
10 GEICO $1,123
11 Allied $1,179
12 California Casualty $1,186
13 State Farm $1,210
14 State Auto $1,241
15 Encompass $1,357
16 Harleysville $1,396
17 Mutual Benefit Group $1,397
18 Progressive $1,414
19 Nationwide $1,491
20 Chubb $1,583
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General Casualty normally has some of the most affordable car insurance rates in Philadelphia at around $718 per year. Erie, Travelers, USAA, and Penn National also rank well as some of the best Philadelphia, PA car insurance companies.

As shown above, if you buy coverage from USAA and switched to General Casualty, you may see yearly savings of approximately $99. Customers with Penn National could save as much as $114 a year, and Auto-Owners insureds might reduce rates by $245 a year.

Understand that those prices are averages for all insureds and vehicles and do not factor in a specific location for a Toyota Corolla. So the insurer that has the cheapest rates for you may not even be in the top 30 companies shown above. That’s why you need to compare prices as often as possible using your own specific driver and vehicle information.

Liability-only versus full coverage

Reducing the cost of auto insurance is probably important to most vehicle owners, and one of the easiest ways to find cheaper insurance for a Toyota Corolla is to buy only liability coverage. The example below shows the comparison of insurance prices with full coverage and liability only. The information is based on no tickets, no at-fault accidents, $100 deductibles, marital status is single, and no discounts are factored in.

On average, physical damage insurance costs an extra $2,453 per year more than just insuring for liability. That proposes the question if buying full coverage is a waste of money. There is no exact formula of when to eliminate full coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

There are some cases where eliminating full coverage is not recommended. If you still owe a portion of the original 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 the event your current vehicle is totaled, you should not opt for liability only.

The benefit of shopping around

Philadelphia auto insurance rates are based on many factors that may substantially change the price you pay. Improving your credit rating, buying a home instead of renting, or having a fender bender can cause premium changes that can cause some rates to be cheaper in comparison to the competition. Also, auto insurance companies file new Pennsylvania car insurance rates at least once a year as an adjustment for underwriting gains or losses. Heavier than normal losses can result in additional premium costs, while less frequent claims can result in lower-cost Corolla insurance rates.

To illustrate this example, the chart below shows the company with the cheapest car insurance in Philadelphia, PA for a 45-year-old male driver with no violations or accidents, and great credit. If we look at prices based on his current risk profile, General Casualty has the lowest car insurance rates in Philadelphia at $1,633 a year. This is $24 less than the average price paid by Pennsylvania drivers of $1,657. Erie, USAA, Travelers, and Penn National round out the rest of the cheapest Philadelphia, PA auto insurance companies.

In this next rate comparison, we will give the driver from the first example a couple of claims, poor credit, and an imperfect driving record. Because each insurer uses their own calculation to set their prices, analyzing rate quotes may now show a new list of cheap Philadelphia auto insurance companies as shown below.

Amica now has the cheapest car insurance in Philadelphia with Atlantic States, Donegal Mutual, Travelers, and GEICO now being in the top five. This example demonstrates why it is important to take the time to shop around when trying to get cheap insurance quotes for a Toyota Corolla. Rates are influenced by many different factors and change dramatically, so the best company a year ago may now be an over-priced policy.