When I picked up my new '23 Sienna from the dealership on Monday, the sales associate told me that Toyota wasn’t in the insurance market yet but might enter it someday.
Then yesterday, I got an email from Toyota Insurance Management Solutions USA, LLC (Toyota Insurance) offering me a quote. Is this something new, or was my sales associate just misinformed? Is it legit, and how does it compare to other insurance providers like USAA?
From what I understand, Toyota Insurance is really just an agency. They shop around with regular national insurance carriers.
Patton said:
From what I understand, Toyota Insurance is really just an agency. They shop around with regular national insurance carriers.
Here’s their website if you want to check them out: https://toyotaims.com
I wouldn’t go for it, personally. Insurance is a hassle no matter where you get it, but I’d rather stick with a well-known company that’s been around for a while. I work in the auto industry, and this is the first I’ve heard of it.
I have Toyota Insurance right now. When I was shopping, a lot of companies had pulled out of California, so I ended up going with them. Last I checked, they’re underwritten by Farmers. It even says so on my policy documents.
@Chao
Yeah, they seem to use multiple underwriters. Mine is with 21st Century (which is also part of Farmers, I think). So far, I’ve been happy with them. I had a claim that was handled way better than my old insurance (Mercury). I’m paying $280 a month for two cars in California, and my coverage limits are pretty high.
Mercury tried to bump my rate from $200 to $880 per month at renewal, and most other companies were quoting me around $600. So this was the best option for me.
@Brook
Would you still recommend Toyota Insurance? It’s a lot cheaper than my other quotes, but I don’t want to jump in if it’s too good to be true.
Vinn said:
@Brook
Would you still recommend Toyota Insurance? It’s a lot cheaper than my other quotes, but I don’t want to jump in if it’s too good to be true.
Yeah, it’s legit! Toyota Insurance is basically just a broker, and the actual insurance comes from 21st/Farmers. Claims and payments go through them. Since switching, I’ve had a few coworkers sign up too, and they’ve had smooth claim experiences. Farmers/21st is a huge insurance company, so you’re not dealing with anything shady.
@Brook
That’s good to know, thanks!