What affects the price of car insurance?
Insurers use many different factors to determine insurance costs, including:
Your age: Younger drivers will often find they pay more than more experienced, older drivers. They are seen as higher risk as having less experience may make them more likely to be involved in an accident.
Where you live: If you live in a built up area, you might find your insurance costs are higher than if you lived in a rural area. This is usually because the risk of vehicle theft is seen to be higher.
Your occupation: Some jobs are seen as more risky than others by insurers. This is based on factors including how much time you spend on the road as part of your job, the types of people you'll be associating with and where your car is kept during work hours.
Your car: insurers rank cars from insurance groups 1 to 50, with 1 being the cheapest to insure. More powerful and expensive models will be in a higher group with 50 being the most expensive cars to insure. Toyota insurance groups range from 1 to 48.
Your driving history: if you have any previous claims or driving convictions they will impact how much you pay.
How can I save on my Toyota car insurance?
There are several factors that can affect the price of the insurance on your Toyota including your age, location and driving history. But there are still ways you can try to reduce the cost:
- Pay annually rather than monthly
- Add a named driver
- Increase your voluntary excess
- Shop around and compare quotes
- Estimate your mileage accurately
- Improve your car's security
- Build up your no-claims discount
Pay annually rather than monthly. Paying annually could save you 16%2 on your car insurance. This is because when you pay monthly, insurers will add interest to the total price.
Add a named driver. Young drivers could find this especially helpful in reducing their premium. With only one driver on the policy, the average premium is £7252, but with a named driver this drops to £5552. But you need to be honest about who the main driver is or you could be accused of 'fronting' which is illegal and likely to result in your insurance policy being invalidated.
Increase your voluntary excess. The higher your excess, the lower your premium is likely to be. 62%2 of our customers opt to set their voluntary excess at £250, but if you can afford to increase it, you might reduce your overall price.
Shop around and compare quotes. Make sure you're getting the best deal for your car insurance by comparing prices. We've found that the best time to buy your policy could be around 26 days before your renewal date2.
Estimate your mileage accurately. Drivers who estimate a higher annual mileage may find their policy costs more as they will be seen as higher risk as they are on the roads more. Our customers drive 6,621 miles per year, on average2. If you don't expect to drive very much, you might benefit from a pay as you go policy.
Improve your car's security by adding things like a steering wheel lock, car tracker, or immobiliser to reduce the chances of your Toyota being stolen. You can also reduce the risk of car theft by parking your car in a secure garage if you are able. This is likely to reduce the cost of your insurance compared to parking on a dimly lit street, for example.
Build up your no-claims bonus (NCB). Your NCB increases each year you're insured without making a claim. Insurers often offer discounts that increase with each year of no-claims you build up. Some policies offer NCB protection as an optional extra to help you keep your bonus even if you need to make a claim. This means you can make a certain number of no-fault claims in a year and not lose your NCB.
What insurance can I get for my Toyota?
There are three levels of car insurance you can choose from:
- Third-party, fire and theft
- Fully comprehensive
What optional add-ons can I get with my Toyota insurance?
The add-ons you choose to include should be tailored to your own needs. Some optional extras that are frequently including on car insurance policies are:
Personal accident cover pays out an amount if you're seriously injured or die in an accident. The specific amount will usually depend on the injury you receive.
Breakdown cover helps get you moving again if you break down on the road. Some insurers offer different levels of breakdown cover to suit your needs. Features often included are roadside assistance, home start and local or national recovery.
Motor legal protection allows you to claim back any legal expenses you're charged if you need to claim following an accident. What this includes can vary so check your policy documents, but often it will cover the cost of solicitors, medical treatments and travel costs, depending on your policy.
Windscreen cover will cover the cost of repairing or replacing your windscreen if it's damaged in an accident. This often also includes cover for side and rear windows.
The history of Toyota
Toyota's surprising origins lie in the Japanese weaving industry of the early 20th Century. Sakichi Toyoda invented the world's first automatic loom and then set up the Toyoda Spinning and Weaving Company in 1918.
The loom impressed a British firm, the Platt Brothers, who in 1929 bought the production and sales rights.
With innovation clearly in the Toyoda blood, Sakichi gave the proceeds from the sale to his son, Kiichiro, to develop automotive technology at Toyoda. In 1936 the company produced its first passenger car, the Model AA.
The next year the 'd' in Toyoda was changed to a 't', with this change reducing the number of strokes needed to write the name in Japanese from 10 to 8 - A lucky number in Japanese culture. And the Toyota Motor Company was born.
Toyota’s first production of cars outside of Japan began in 1959 in Brazil, but now the group produces Toyota and Lexus vehicles around the world.
In designs of early Toyota models, it's easy to see how the company was able to produce vehicles that closely resembled hugely popular cars in the western market. For instance, the Toyopet Model SD (Morris Minor) and the Toyota Crown Eight (the Ford Cortina).
Toyota teams have participated in Japanese races, endurance rallies and prestigious international races such as the Formula NIPPON, World Rally Championships and the 24-hours Le Mans.
In 2002, Toyota entered the Formula One World Championship for the first time, achieving a creditable sixth place in the opening Australian Grand Prix.
Toyota has been one of the pioneers of hybrid technology. The company began working on hybrid cars back in 1997 and there are now over 15 million drivers worldwide benefiting from Toyota’s innovation.
In 2015 Toyota created the Toyota Environmental Challenge 2050. This initiative across 6 key areas deals with achieving net zero carbon emissions and creating a sustainable process for future generations. And in 2021, they announced an investment of ¥8,000,000,000,000 in electric vehicles by 2023, and set a sales target of 3.5 mill electric vehicles in 2030.
In December 2021, Toyota announced that it would invest ¥8,000,000,000,000 ($70 billion at 2021 exchange rate) in electric vehicles by 2030, launch 30 EV models worldwide by that year, and in 2022 pledged over $5 billion towards electric vehicle battery production.
In 2022, Toyota managed to maintain its position as the world's best-selling automaker for the third year in a row.
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