Toyota is one of the most popular and trusted names in the automotive industry. We at the Home Media review team have researched Toyota insurance costs to help you find the right match for your car coverage needs. Our team also ranked the best car insurance companies to make your decision even easier.
Toyota Insurance Cost
The average cost of full coverage car insurance for a 2022 Toyota vehicle is $1,964 per year or $164 per month. This is about 14% higher than the national average $1,730 per year or $144 per month. These averages are based on a 35-year-old married driver with a clean driving record and a good credit score. Your specific insurance costs may vary.
Cheapest Toyota cars to insure
According to our auto insurance cost estimates, the 4Runner is the cheapest Toyota model to insure, with the RAV4 a close second. A full coverage policy for an average of 4Runner $1,847 per year or $154 per month. Coverage for a RAV4 is approx $1,859 per year or $155 per month.
The Camry is the most expensive Toyota model to insure, at an estimated average cost of $2,058 per year or $172 per month. This is largely because the Camry is the fifth most stolen car model in the US, according to Kelley Blue book.
Toyota car insurance rates by model
The table below lists the average monthly and annual full coverage auto insurance rates for various 2022 Toyota models.
Factors that affect the cost of car insurance
The price you pay for insurance depends on the type of Toyota you drive, your location and a host of other factors.
These factors include your:
- Age: Drivers in their thirties and older often get lower rates than young adult or teen drivers.
- Sex: This applies specifically to the gender stated on your driving licence. Male drivers often pay more than female drivers.
- Marital status: Married drivers are more likely to bundle homeowners and car policies. They are also considered more financially stable by insurers, so they get lower rates.
- Driving record: If you’ve had speeding tickets, wrong-way accidents, a drunk driving conviction (DUI), or other traffic violations in recent years, you can expect higher rates.
- Credit history: Your financial stability is a big factor in how expensive your rates can be. The lower your credit score, the higher your insurance premiums will be.
Toyota car insurance quote
If you want to find the best rates on Toyota insurance, you need to compare car insurance quotes from multiple providers. Most auto insurance companies offer free quotes through their websites, so it’s easy to shop around and find the coverage you need.
Comparisons of Toyota insurance companies
USAA offers the cheapest full-coverage car insurance for Toyota owners, with an average annual premium of just $1,120 or $93 per month. However, the USAA policy is only available to active military members and their immediate families.
For all other Toyota owners, Nationwide is the most affordable insurance company with estimated costs of $1,325 per year or $110 per month.
Below we compare the national carriers that offer the cheapest car insurance on average for the Toyota Tundra, Tacoma, RAV4, Highlander, Corolla, Camry and 4Runner. While the totals for models like the Toyota Prius and Toyota Sienna will be different, these charts give a good indication of what different providers charge.
Toyota 4Runner Insurance Cost
USAA offers the cheapest full coverage car insurance for 4Runners at an average price of $1,049 per year or $87 per month. Nationwide follows closely, with estimated costs of $1,099 per year or $92 per month.
Toyota Camry Insurance Cost
USAA is also the cheapest insurance company for the popular Camry model, at an average cost of $1,228 per year or $102 per month. Erie Insurance offers affordable full coverage for Camrys, on average $1,310 per year or $109 per month.
Insurance costs Toyota Corolla
USAA checks in again with the cheapest insurance for a Toyota model, with full coverage for a Corolla averaging $1,172 per year or $98 per month. Geico offers Corolla coverage with an average of $1,354 per year or $113 per month.
Toyota Highlander Insurance Cost
USAA also offers the cheapest coverage for the Highlander, Toyota’s family SUV model. You can insure a Highlander for an average full coverage of $1,150 per year or $96 per month through USA. Nationwide comes second with an average estimated cost of $1,398 per year or $116 per month.
Toyota RAV4 Insurance Cost
You can get cheap coverage for the Toyota crossover SUV through USAA. The company offers full coverage for the RAV4 at an average cost of $1,066 per year or $89 per month. Nationwide is a close second with averages of this $1,168 per year or $97 per month.
Toyota Tacoma Insurance Cost
USAA offers the cheapest coverage for the Tacoma, Toyota’s midsize pickup model. You can insure a Tacoma for an average of € $1,084 per year or $90 per month through USAA’s full coverage policies. Nationwide is the next cheapest option, with average coverage of $1,249 per year or $104 per month.
Toyota Tundra Insurance Cost
The Tundra is Toyota’s entry into the half-ton pickup market. USAA offers the most affordable insurance premiums for this model, at average rates of $1,090 per year or $91 per month. Nationwide is again second to tundra, providing full coverage for average $1,213 per year or $101 per month.
Other car insurance for a Toyota
The above estimates are for full coverage car insurance policies. This type of policy combines different types of car cover:
- Physical injury liability insurance: Pays the medical costs to the other driver in the event of an accident at fault
- Liability coverage for property damage: Covers damage to the car and property of the other driver in the event of an at fault collision
- Collision coverage: Covers the damage to your car after a collision, regardless of who is at fault in the accident
- Comprehensive insurance: Covers your car against environmental damage not related to traffic accidents, such as theft, fire, falling trees and more
Liability insurance is required in most states, and collision and comprehensive coverage is often required by most lenders. Depending on state laws, full coverage auto insurance may also include uninsured motorist coverage, personal injury protection (PIP) and medical payments coverage (MedPay).
Providers also offer a range of additional insurance policies. These optional insurance offers include:
- Rental car reimbursement: This is especially useful when your Toyota needs extensive repairs
- Insurance mechanical breakdown: Known as MBI, this covers a range of repairs and is similar to an extended warranty
- Replacement new car: In case of total loss, this covers the cost of a new vehicle
- Trip interruption: Should your Toyota break down while you are far from home, this cover provides a fixed amount for food, lodging and other expenses
- Gap insurance: Guaranteed asset protection (gap insurance) pays the difference between what your vehicle is worth and what you owe on it if the vehicle is declared a total loss
Toyota credit requirements
All new and certified pre-owned Toyota vehicles within the last five model years are eligible for financing through Toyota Financial Services. Loan terms for new Toyota vehicles are 24 to 72 months. The contract terms for certified pre-owned vehicles vary depending on the age of the car.
While the company doesn’t list a minimum credit score, a higher score will lead to lower interest rates and lower monthly payments. However, Toyota requires a score of at least 691 to qualify for 0% interest financing.
Toyota Insurance Management Solutions, or TIMS, is an independent insurance agency that partners with a range of trusted national providers. Nationwide, Travelers, Progressive and National General are some of the companies that underwrite Toyota Insurance policies.
Toyota Insurance: Conclusion
In general, Toyota auto insurance is more expensive than the national average. While it’s easy to find affordable coverage rates for the 4Runner and RAV4, it can be more difficult to find cheap insurance for a Camry. Providers such as USAA, Nationwide, Geico, and Auto-Owners Insurance are good bets for cost-effective Toyota coverage.
Toyota insurance: frequently asked questions
Below are frequently asked questions about Toyota Insurance: