Toyota Recalls Don't Affect Auto Insurance

There are many people out there that have Toyota’s and are not sure what the recall means for them. They are worried that if they own a Toyota that they are going to lose their auto insurance, or that their rates are going to go up, etc. We are going to attempt to put your mind at ease as best we can.
 
The fact of the matter is that Toyota’s cars are responsible for roughly three dozen deaths due to faulty problems with the accelerator, faulty brakes, drive shafts, and floor mats. The car company has recalled the cars and has asked people to bring them in so that they can correct the problem. But what you need to understand is that you cannot lose your auto insurance because of the issue with Toyota cars. If you have a Toyota you have to take it to a dealer right away so that they can fix the issue, but this does not have any affect on your auto insurance.
 
The recall should also keep the number of claims down which will keep your auto insurance from going up. The auto insurance companies are going to look to Toyota and Lexus to pay the bills for those items and accidents that are a direct result of one of their cars with these issues.
 
So, although you don’t have to worry about your auto insurance going up, you can forget about getting any kind of good resale balance for your car. People are not going to want to purchase a car that has a history of problems with it. The resale value that you would have had with the car is not going to be anywhere close to what it used to be.

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