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The Toyota Motor Corporation is not only one of the behemoths of the auto industry, it is one of the top ten companies by revenue in the whole world. It has reported annual revenue of around $275 billion in recent years. It produces over 10 million vehicles per years across its various, which also include the Prius and Lexus models. It is headquartered in Toyota City, Japan and has a huge global footprint. Toyota employs over 350,000 worldwide and has operations in Asia, Europe, North America and Australia. Toyota produces a full line of coupes, sedans, SUVs, minivans, trucks buses and even boats. It makes the wildly popular Camry Corolla, and Avalon, among other under its own name. Toyota’s Prius was one the first and most popular manufacturers of hybrid vehicles and they remain the market leader in this segment today. It’s Lexus brand contains the company’s luxury models. Lexus currently sells 9 models across this brand which includes sedans, an an SUV. They previous also manufactured a variety of models under the Scion brand. Toyota’s vehicles are known for their engineering and quality and they are a trusted name in the world of auto manufacturers and they currently have about 6 factories producing vehicles in the United States.
The average cost of insuring a Toyota in the United States is estimated at around $1,400 per year for full coverage. However, be aware that this figure is an average across their entire product line. Full coverage is typically defined as carrying collision and comprehensive insurance in addition to the standard liability coverage. Most states require vehicle owners to carry liability insurance in the event they cause an accident which results in injury and/or property damage to others. Collision insurance helps cover the cost of damage to your own vehicle resulting from a crash, while comprehensive insurance covers a range of other risks to your car such as storm damage, theft, fire and vandalism.
A general rule of thumb is that the higher the MSRP of your vehicle, the higher your insurance costs may be. Luxury vehicles like the Lexus line use high quality parts and materials, so they may be more expensive to repair.
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Often times, small regional car insurers can give the big boys a run for their money when it comes to prices. So don’t exclude such carriers such as Plymouth Rock or Erie when you’re searching for coverage. Insurance rates vary greatly from company to company and your premiums will be determined by your safety record, your residence and the amount of miles you typically drive. At the end of the day, you will help drive down the price of your insurance by comparing rates from at least three vendors.
Toyota typically offers 2 years of free roadside assistance to new vehicle owners. This service covers things such as flat tires, lockouts, running out of gas, and towing service, within certain restrictions.
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