Finding affordable auto insurance for a Toyota Tacoma is dependent upon a complicated formula that considers factors such as how safe your vehicle is, where your vehicle is garaged, and the level of deductible you choose. Drivers will pay around $668 a year to insure their Tacoma, but that figure is calculated using a 40-year-old married male driver with full physical damage coverage and $250 deductibles.
But there is a good chance that you are not 40 years old and maybe not even male, maybe you are single instead of married, or maybe you prefer to not insure for full coverage. Having even a minor difference in policy rating criteria or coverages could end up in a significant change in the coverage rate.
This illustrates why the best method for finding the most affordable coverage for your Toyota is to do the rate comparisons yourself. It’s really quite easy you will receive rate quotes from some of the most affordable companies around.
Your vehicle’s trim level will have an impact the cost of coverage, so the cost to insure a Tacoma 2WD trim level will be $42 cheaper than the cost to insure the fancier Tacoma Double Cab TRD Sport Package 4WD trim level, as shown in the table below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Tacoma 2WD | $140 | $276 | $236 | $14 | $70 | $736 | $61 |
| Tacoma 4WD | $162 | $226 | $236 | $14 | $70 | $708 | $59 |
| Tacoma Double Cab 4WD | $162 | $276 | $236 | $14 | $70 | $758 | $63 |
| Tacoma X-Runner 2WD | $162 | $324 | $236 | $14 | $70 | $806 | $67 |
| Tacoma Double Cab 4WD | $182 | $276 | $236 | $14 | $70 | $778 | $65 |
| Tacoma Double Cab TRD Off-Road Package 4WD | $182 | $276 | $236 | $14 | $70 | $778 | $65 |
| Tacoma Double Cab TRD Sport Package 4WD | $182 | $276 | $236 | $14 | $70 | $778 | $65 |
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Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Premium costs do not factor in the specific area where the vehicle is garaged which can affect insurance rates noticeably.
Ending up with a high-quality car insurance provider can be rather challenging considering how many different insurance companies sell coverage in Wisconsin. The information shown below can help you decide which car insurance companies you want to consider when looking for cheaper rates. The ratings below are only comprised of large, nationwide insurance companies, so smaller regional companies are not factored into this list.
Top 10 Large Auto Insurers in Milwaukee Ranked by Customer Satisfaction
- USAA – 92%
- Erie Insurance – 88%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
The example below illustrates how your deductible choice can impact insurance premiums when researching cheap insurance for a Toyota Tacoma. The premiums assume a single female driver, full coverage, and no policy discounts are applied.
In the chart above, a 30-year-old driver could lower rates by $218 a year by changing from a $100 deductible up to a $500 deductible, or save $328 by selecting a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could potentially save $476 or even more just by choosing higher deductibles. When insureds make the decision to increase the deductibles on their policy, it will be important to have enough savings set aside to be able to cover the extra out-of-pocket expense that is associated with using high deductibles.
You may be paying too much for Tacoma insurance
Milwaukee, WI car insurance rates are impacted by many things that will increase or decrease the price you pay. Improving your credit rating, filing a claim, or getting a speeding ticket can cause premium changes that can now make some companies more affordable than before. And not only may your rating factors change, but companies change premium rates every year or even multiple times each year to adjust for unexpected claims or profits. Unexpectedly high claims may cause rate hikes, while profitable underwriting may result in lower-cost Tacoma insurance rates.
To help illustrate this point, the graph below shows the cheapest car insurance in Milwaukee, WI for a 35-year-old female driver with no prior accidents, a clean driving record, and a high credit rating. If we estimate prices based on her current situation, USAA has the cheapest car insurance rates in Milwaukee at $893 annually. This is $268 less than the average rate paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide are the remainder of the most affordable Milwaukee, WI auto insurance companies.
The chart below compares rates after we give the driver from the first set of rates a chargeable accident, a lower credit score, and a few blemishes on her driving record. Because each insurer has their own formula for filing rates in each state, comparing rates may now show a completely different list of affordable Milwaukee car insurance companies as shown below.
Rural Mutual Insurance now has the best insurance rate in Milwaukee, WI with Integrity Mutual, Western National, Travelers, and Partners Mutual completing the list. This demonstrates why it is critical to spend some time comparing rates to find the lowest insurance rates for a Toyota Tacoma.
Insurance rates are impacted by many factors and can change without notice, so the most affordable company the last time you checked may now be an over-priced policy.