Buying the cheapest insurance for a Toyota Highlander depends on a lot of things such as whether you use your Highlander for business use, the likelihood of vehicle theft, and your policy deductibles. Drivers pay around $1,198 a year for Highlander insurance, but that is calculated based on a 30-year-old single male driver with both comprehensive and collision coverage and $500 deductibles.
The issue that arises when projecting rates is that it’s very likely that you are not 30 years old and maybe not even male, you might be married instead of single, or maybe you live in a different area as the quoted rates. Even a slight difference in the factors used in pricing a policy could end up with a large change in policy price.
Car insurance coverage is unique to each driver, so this is why the only real way to find the cheapest rates for your Toyota is to compare as many rates as you can.
Your Toyota’s trim level can impact the insurance rate, so the price you will pay to insure a Highlander 2WD model will be $194 less than the insurance cost for the fancier Highlander Hybrid Limited 4WD version, as demonstrated by the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Highlander 2WD | $252 | $304 | $460 | $28 | $138 | $1,182 | $99 |
| Highlander 4WD | $284 | $368 | $460 | $28 | $138 | $1,278 | $107 |
| Highlander Sport 4WD | $284 | $368 | $460 | $28 | $138 | $1,278 | $107 |
| Highlander SE 2WD | $284 | $368 | $460 | $28 | $138 | $1,278 | $107 |
| Highlander Sport 2WD | $284 | $368 | $460 | $28 | $138 | $1,278 | $107 |
| Highlander Limited 2WD | $316 | $434 | $460 | $28 | $138 | $1,376 | $115 |
| Highlander SE 4WD | $316 | $434 | $460 | $28 | $138 | $1,376 | $115 |
| Highlander Limited 4WD | $316 | $434 | $460 | $28 | $138 | $1,376 | $115 |
| Highlander Hybrid 4WD | $316 | $434 | $460 | $28 | $138 | $1,376 | $115 |
| Highlander Hybrid Limited 4WD | $316 | $434 | $460 | $28 | $138 | $1,376 | $115 |
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Prices do not factor in garaging location in Aurora which can lower or raise premium rates significantly.
Finding dependable, cheap auto insurance is difficult, and determining which company quotes the best insurance rates for a Toyota Highlander involves even more rate comparisons. Every car insurance company uses a slightly different approach to set their prices, so let’s begin by examining the insurance companies that tend to be cheaper in Aurora, CO.
It’s important that you understand Aurora, CO insurance rates are based on many factors which can significantly increase or decrease the cost of a policy. Improving your credit rating, buying a different vehicle, or getting a ticket for running a stop sign can trigger rate changes that may make certain companies cheaper than competitors.
Best Cheap Insurance Rates for Your Highlander
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $825 |
| 2 | Grange | $949 |
| 3 | USAA | $999 |
| 4 | GEICO | $1,141 |
| 5 | Nationwide | $1,143 |
| 6 | Travelers | $1,171 |
| 7 | Auto-Owners | $1,204 |
| 8 | State Farm | $1,222 |
| 9 | American Family | $1,275 |
| 10 | Progressive | $1,336 |
| 11 | Amica | $1,340 |
| 12 | Allied | $1,483 |
| 13 | California Casualty | $1,488 |
| 14 | Colorado Farm Bureau | $1,624 |
| 15 | Farmers | $1,629 |
| 16 | MetLife | $1,866 |
| 17 | Allstate | $2,055 |
| 18 | Encompass | $2,253 |
| 19 | Safeco | $2,447 |
| 20 | Titan | $2,711 |
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The Hartford may have some of the lowest car insurance rates in Aurora at around $825 annually. This is $753 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide would also be considered some of the cheaper Aurora, CO car insurance companies.
In the above rates, if you are a customer of USAA and switched to The Hartford, you could see an annual savings of in the vicinity of $174. Insureds with GEICO could save as much as $316 a year, and Nationwide customers might cut rates by $318 a year.
Understand that those rates are averages for all drivers and vehicles in Colorado and do not take into consideration an exact vehicle garaging location for a Toyota Highlander. So the car insurance company that is most affordable for your situation may not even be in the list above. That emphasizes why you need to compare as many prices as possible using your own driver data and vehicle information.
Does it make sense to buy full coverage?
Finding the cheapest insurance should be important to most people, and one of the best ways to reduce the cost of insurance for a Toyota Highlander is to not buy full coverage. The example below illustrates the difference between premium costs with full physical damage coverage compared to only buying liability only. The rates are based on no tickets, no at-fault accidents, $500 deductibles, single status, and no discounts are applied to the premium.
Averaged for all age groups, physical damage coverage on your policy costs an additional $1,837 per year more than insuring for liability only. That proposes the question when is the right time to remove full coverage. There isn’t a steadfast formula of when to drop comp and collision coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s replacement cost is $9,500 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $8,500 after you pay the deductible. If it’s costing in excess of $850 a year for full coverage, then it might be time to consider dropping full coverage.
There are a few situations where dropping physical damage coverage is not recommended. If you still owe a portion of the original loan, you must maintain physical damage 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.
Why are you paying too much for Highlander insurance?
Colorado insurance rates are calculated based on many things that can increase the price of your policy. Improving your credit rating, having a teenage driver, or getting a DUI may prompt premium changes that can make some companies more affordable than before. Additionally, auto insurance companies amend pricing every year in order to maintain liquidity for claims. Heavier than normal losses can cause higher rates, while a profitable period can produce lower-priced Highlander insurance rates.
The chart below compares the cheapest car insurance in Aurora, CO for a 30-year-old female driver with a good driving record, no prior claims, and a decent credit rating. If we estimate rates based on her current situation, The Hartford may have the lowest car insurance rates in Aurora at $1,067 per year. This is $511 less than the average premium paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Travelers are the remaining most affordable Aurora, CO auto insurance companies.
In this next rate comparison, we will give the driver from the first set of rates an at-fault accident, bad credit, and a few blemishes on her driving record. Since each insurance company has a unique formula for setting prices, analyzing rate quotes will most likely result in a slightly different list of cheap Aurora auto insurance companies as shown below.
Auto-Owners now has the best car insurance rate in Aurora, CO with State Farm, American Family, Progressive, and Grange now rounding out the top five. This example proves why it is critical to take the time to shop around to get the most affordable car insurance rates for a Toyota Highlander. Car insurance prices can be determined by many different factors and change substantially, so the best option the last time you shopped your coverage around may now be costing you a lot of money.