How much is full-coverage insurance for a 2005 Corolla?
How much is full-coverage insurance for a 2005 Toyota Corolla? I know it is an older car, but I still want to be well protected.
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Answered on Apr 13, 2021
“Unfortunately, there’s no clear-cut number that I can give you. Your car insurance rate depends on many personal factors like age, annual mileage, zip code, and driving history.
An additional factor to consider is the actual cash value of your vehicle. Since the 2005 Toyota is 16 years old, it may have a value of less than $2,000. When you factor in the cost of collision insurance, plus the deductible, it may not be worth having full coverage.
Look into carrying liability coverage, along with comprehensive coverage and full-glass coverage. Comprehensive will protect your car from things like fire, theft, vandalism, animals, and some weather damage. Full-glass coverage means you can avoid an out-of-pocket expense if your windshield is chipped or cracked. It will be very inexpensive, and you can carry a low deductible.
If your car is deemed a total loss in a claim, you may get back enough money to put it towards a different car’s down payment. “
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