Toyota Car Insurance vs Mazda Car Insurance

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Things to Remember...

  • Founded in 1937,  Toyota is headquartered in Aichi, Japan
  • Founded in 1920 as Toyo Cork Cogyo Company Ltd., the automobile company first used its registered logo of Mazda in 1932
  • Comparing options from at least three different auto insurance carriers is a good idea

It is tough to compare coverage options for two cars that are manufactured by different companies.

Besides the model, year, and condition of the Toyota and Mazda cars, the personal information of the driver also plays an important role in calculating premiums.

While Mazda and Toyota models are relatively inexpensive to insure, a recent report in Forbes magazine indicated that insurance rates for all models and drivers are likely to increase in the coming months and years.

No matter what car you drive, you can always enter your zip code into our FREE search tool to find car insurance quotes instantly!

About the Toyota Automobile Company

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Toyota Motor Corporation is a multinational automobile manufacturer and distributor. Founded in 1937, it is headquartered in Toyota, Aichi, Japan.

The company is the ninth largest corporation in the world. Indeed, some of its models are the most popular cars on American streets.

Its well-known brands include:

  • Toyota lineup
  • Lexus
  • Scion
  • Daihatsu
  • Hino Motors

Toyota’s claim to fame lies in the reliability of their cars. Their vehicles are legendary for their long lives and sturdiness.

The various models are known for their easy maintenance, low repair costs, and low gas mileage.

Toyota is also known for being a leader in fuel technology innovations.

Indeed, they were the first company to market and mass produce cars such as the Prius and other hybrid models to an increasing clientele that is seeking green technology.

According to Toyota, the company offers over 70 different options to drivers.

These include the following:

  • Sedans
  • Convertibles
  • Coupes
  • Vans
  • Trucks
  • Hybrids
  • SUVs

Some of its popular cars and trucks include:

  • Corolla
  • Camry
  • Yaris
  • Tundra and Tacoma
  • SUVs
  • Crossovers such as the RAV4, Forerunner, and Landcruiser
  • Hybrids such as Prius, Prius Plug-In, and Highlander Hybrid

These affordable cars start at $14,000 and go up to $77,000 for their luxurious SUVs.

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About Mazda the Automobile Company

A Japanese automaker, Mazda is based in Fuchu, Hiroshima Prefecture. Founded in 1920 as Toyo Cork Cogyo Company Ltd., the automobile company first used its registered logo of Mazda in 1932.

According to Mazda, they produce cars that combine fuel efficiency and high-performance driving: “It’s not magic. It’s engineering.”

The company is known for its innovative design and high performance cars at affordable prices.

Mazda has recently introduced SkyActiv technology in its new cars that has increased fuel efficiency, reduced weight of the car, and includes communication innovations and high-tech safety features.

Mazda models range between $10,000 and $40,000. They offer sedans such as Mazda Sports Sedan, Mazda 3, and Mazda 4; sports cars such as the Miata and Mazda Speed 3; and SUVs, crossovers and multi-activity vehicles such as the CX-5, CX-7, and CX-9.

Importance of Having Auto Insurance

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Auto insurance is a financial product sold by insurance companies that is meant to protect you, your family, and your car in case of an unfortunate auto accident.

The Insurance Information Institute defines automobile insurance as a legal contract between two parties: the driver and the insurance company.

It is important to understand the terms and conditions of the contract since they are binding for both parties.

These terms are mutually agreed upon and usually require the driver to pay a fixed amount of money as premium, either in a lump sum or as periodic payments.

In return, the insurance company assumes the risk of accident and agrees to provide coverage against any damage or injury sustained by the driver, his or her passengers, the other drivers and their passengers as well as property.

If the auto accident bill is higher than your stated limit and you are the at-fault driver, then you are required to cover the excess charges.

While most states demand certain levels of insurance coverage, it is highly recommended that you avail the maximum amount of coverage that you can afford.

For instance, the New York State Department of Motor Vehicles mandates liability coverage of $25,000/50,000 for injury per accident, $50,000/100,000 for deaths per accident, and $10,000 for property damage per accident.

How Auto Insurance Rates Calculated

Insurance companies are known for their complicated and often times, obtuse calculations. While each insurance company has a very specific formula that is unique when it comes to calculating rates and premiums, certain factors form the

While each insurance company has a very specific formula that is unique when it comes to calculating rates and premiums, certain factors form the spine of all actuarial calculations.

Some of the basic factors are as follows:

  • Driving record – This tops the list for most insurance companies. A driving record sans tickets, citations, and points is proof that you are a safe and cautious driver. Since safe drivers are less likely to be at-fault in an accident, you mean good business to insurance companies! In other words, insurance companies will offer you low rates to retain you as their customer
  • Automobile – While it is unlikely that drivers will change their brand and model preference to lower insurance rates, it is important to know that these factors can make a huge difference to your insurance bill. Check the safety and crash ratings for your Mazda from the Insurance Institute for Highway Safety
  • Location – Again, it is unlikely that you will move to get a better insurance rate but your address can influence your bill. For instance, if you live in an earthquake zone, you are likely to pay more since the chances of vehicle damage is higher. Similarly, if you live in a high crime area, you are likely to pay more. City drivers pay more than suburban and rural drivers because of the higher likelihood of accidents on congested urban roads
  • Demographics – Age, gender, and marital status are important factors. Research shows that younger men drive more recklessly as compared to younger women and so have to pay more. Married women pay less than unmarried men and women. College graduates pay less than those without a degree do. In addition, teens pay a lot more than more experienced drivers
  • Your credit rating –Those all-important FICO scores are used as indicators that determine the level of your financial discipline. High FICO scores invariably make a dent in your insurance bill

Lowering Your Auto Insurance Rates and Premiums

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In today’s tech-savvy world, going online for bargain hunting of any kind is the norm.

So when it comes to bargain hunting, make sure you know exactly what kinds of coverage you need, the limits for each kind of coverage, and how much you are willing to pay for them.

Information is power, so before you ask for a quote, do some research.

Find out what your state requires in terms of insurance, learn about the different kinds of coverage and how much you should get for optimal coverage.

Additionally, take the time to make a list of established insurance companies for comparative and competitive quotes.

Discount hunting is paramount in your exercise of insurance price reduction.

Indeed, some standard discounts like being a good driver and good student can make a substantial reduction in your insurance bill.

Once you have all the information, collect all relevant information that will be required to get quotes.

These include:

  • Driver’s licenses of your family members who have to be insured
  • Vehicle identification numbers (VINs) for all vehicles to be covered
  • All driving records and claim records
  • Declarations page of your current insurance policy.

Buying Automobile Insurance

For consumers, the Internet is an amazing tool. It allows them to learn, search, and compare insurance options with ease and in the comfort of their homes.

Whether you use a third party site such as this, an insurance company’s website, or an insurance agent’s online presence, make sure you understand all terms and conditions before signing up.

Find quotes for car insurance in a matter of minutes when you enter your zip code into our FREE quote finder now!

FREE Auto Insurance Comparison

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