Buying competitive auto insurance for a Toyota Camry doesn’t take a ton of time, but it hinges on a complicated formula that considers factors such as how far you drive to work, what you do for a living, and physical damage deductibles. Drivers in New York pay around $764 per year for Camry insurance, but that figure is an estimate based on a 40-year-old married female driver with both comprehensive and collision coverage and $250 deductibles.
It’s more than likely you may not be 40 years old (or even female), you might be single instead of married, and maybe your Camry just needs liability-only coverage. Insurance is an individual thing, so the only real way to find cheap auto insurance rates for your Toyota is to compare as many rates as possible. Quotes are always free and you can get prices from top-rated car insurance companies that offer coverage in New York.
Your vehicle’s trim level will most likely have an effect on the coverage cost, so the cost to insure a Camry LE model will be $130 less than the cost to insure the higher-priced Camry Hybrid version, as demonstrated by the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Camry LE | $176 | $338 | $278 | $16 | $84 | $892 | $74 |
| Camry SE | $176 | $398 | $278 | $16 | $84 | $952 | $79 |
| Camry XLE | $176 | $398 | $278 | $16 | $84 | $952 | $79 |
| Camry Hybrid | $198 | $398 | $314 | $18 | $94 | $1,022 | $85 |
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Table data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New York minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Price information does not factor in vehicle location which can change price quotes considerably.
Deciding which insurers offer the lowest-priced car insurance rates for a Toyota Camry may require a bit more work in order to find the best price.
Each company uses a different method to set premium rates, so we need to take a look at the most affordable car insurance companies in Buffalo.
Compare Cheap Insurance Quotes for Your Camry
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,163 |
| 2 | Erie | $1,255 |
| 3 | Progressive | $1,512 |
| 4 | Utica National | $1,534 |
| 5 | Travelers | $1,575 |
| 6 | Allstate | $1,588 |
| 7 | Amica | $1,596 |
| 8 | MetLife | $1,636 |
| 9 | Preferred Mutual | $1,737 |
| 10 | GEICO | $1,850 |
| 11 | New York Central Mutual | $1,892 |
| 12 | State Farm | $1,904 |
| 13 | Safeco | $1,966 |
| 14 | Central Mutual | $1,968 |
| 15 | Liberty Mutual | $2,005 |
| 16 | Hanover | $2,393 |
| 17 | Encompass | $2,689 |
| 18 | Nationwide | $3,178 |
| 19 | Mercury | $3,848 |
| 20 | 21st Century | $4,324 |
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USAA normally has some of the cheapest car insurance rates in Buffalo at around $1,163 a year. This is $912 less than the average premium paid by New York drivers of $2,075. Erie, Progressive, Utica National, and Travelers would also be considered some of the cheaper Buffalo, NY insurance companies.
As the rates illustrate above, if you are a customer of Utica National and switched to USAA, you may realize an annual savings of in the neighborhood of $371. Drivers with Travelers might save as much as $412 a year, and Allstate insureds might lower prices by up to $425 a year.
Understand that those rates are averages for all types of drivers and the different vehicles they drive and are not factoring in an exact location for a Toyota Camry. So the auto insurance company that can offer you the best rate may not even be in the list above. That point stresses why you need to compare prices as often as possible using your own personalized driver profile and vehicle information.
Discount Buffalo car insurance
Car insurance companies that sell policies for a Toyota Camry could also offer discounts that could potentially reduce rates by as much as 40% or more if you are eligible to receive them. The best car insurance companies and some of the discounts are shown below.
- Travelers discounts include early quote, hybrid/electric vehicle, student away at school, new car, IntelliDrive, good student, and driver training.
- 21st Century has savings for student driver, good student, anti-lock brakes, driver training, early bird, and theft prevention.
- State Farm offers discounts including safe vehicle, good driver, Steer Clear safe driver discount, driver’s education, passive restraint, and multiple policy.
- GEICO offers discounts for driver training, military active duty, good student, air bags, defensive driver, multi-vehicle, and membership and employees.
- SAFECO has discounts for bundle discounts, drive less, safe driver, homeowner, and teen safety rewards.
- AAA may have discounts that include multi-car, pay-in-full, anti-theft, AAA membership discount, multi-policy, education and occupation, and good driver.
The information below visualizes the comparison of insurance rates with and without discounts applied to the rates. The premiums assume a female driver, a clean driving record, no claims, New York state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with claim-free, multiple vehicle, vehicle safety, marriage, defensive driving course, and anti-theft discounts applied. When taking advantage of discounts, the average savings per year on car insurance for a Toyota Camry is 28% or $401.
Cost of full coverage
Saving money when shopping for car insurance should be important to most drivers, and an effective way to save on the cost of insurance for a Toyota Camry is to buy liability only. The example below shows the difference between annual premium costs with full physical damage coverage and with liability coverage only. The rates are based on a clean driving record, no claims, $500 deductibles, single status, and no other discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage costs $1,575 per year over having just liability coverage. At some point, almost every driver questions if paying for full coverage is worth it. There is no clear-cut rule to stop paying for physical damage insurance, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s say your vehicle’s replacement cost is $4,500 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $3,500 after you pay the deductible. If premium cost is more than $350 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some circumstances where only buying liability is not a good idea. If you still have a loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Chances are good that you’re overpaying for Camry insurance
Buffalo car insurance rates are impacted by many factors that control the policy premium. Simply having another birthday, marrying your spouse, or getting into an accident can trigger changes in premium that can cause some rates to be affordable when they were higher priced.
Not only may your risk profile change, but car insurance companies change prices as often as every quarter to reflect underwriting profits or losses. Larger than normal claims may cause a rate increase, while a profitable period can result in lower-priced Camry insurance rates.
As an example, the bar chart below demonstrates which company has the cheapest car insurance in Buffalo, NY for a 40-year-old female driver with no violations or accidents, and a high credit rating. If we estimate prices based on her personal profile, USAA might offer the best car insurance rates in Buffalo at $1,878 each year. This is $197 less than the average rate paid by New York drivers of $2,075. Erie, Utica National, Progressive, and Travelers are the remainder of the cheapest Buffalo, NY auto insurance companies.
Now we will pretend the driver from the first rate comparison a claim or two, slightly worse credit, and an imperfect driving record. Since every insurance provider uses a different method for setting rates, analyzing rates may result in a significantly different list of the cheapest Buffalo car insurance companies as shown below.
Amica now has the best price on car insurance in Buffalo, NY with MetLife, Preferred Mutual, Erie, and New York Central Mutual completing the list. This illustrates why it is critical to shop around with many companies when trying to get the most affordable auto insurance quotes for a Toyota Camry.
Rates are influenced by many factors and can change substantially, so the cheapest rate when you last compared rates may now be quite expensive.
If you have coverage questions and would like to have a little guidance when shopping around for cheaper insurance for a Camry, the agents listed below can aid you in deciding which coverage fits your budget.
To find an agent close to where you live, click the button below the list or click here to get price quotes now.
GEICO Insurance Agent
3835 McKinley Pkwy #2 – Buffalo, NY 14219 – (716) 604-0345
Merchants Insurance Co
85 Pearl St – Buffalo, NY 14202 – (716) 849-3287
Vanner Insurance Agency
11 Pinchot Ct # 2 – Buffalo, NY 14228 – (716) 688-8888
Find a Buffalo, NY insurance agent near you
How to find low-cost insurance for a Toyota Camry
The list below summarizes many thrifty suggestions that can help you quote low-cost coverage.
- Older vehicles may not need full coverage
- You will pay more if you get tickets or have at-fault accidents
- Save money by staying claim-free
- Maintain a safe distance and avoid accidents
- Raise deductibles to save money
- Shop around for cheaper prices often
That final tip is extraordinarily necessary, as we hit on in the prior article. Auto insurance rates go up and down frequently, so don’t be unwilling to buy from a different company if you find a better deal. Having a favorite company is great, but we do not recommend it if that faithfulness ends up costing you lots of money. If you have a few minutes, now is a great time to compare prices to find cheaper auto insurance for a Toyota Camry in Buffalo.