The cost of car insurance varies significantly based on age. A 16-year-old buying insurance for a 2017 Toyota 86 will pay an average of $7,914 annually. A 40-year-old driver pays roughly $1,732 per year for the same policy.
To insure a 2020 Toyota 86, a 16-year-old driver will pay an average of $8,338 per year for a policy, while a 40-year-old driver pays around $1,827. MoneyGeek also found the best insurance providers that balance affordability with claims experience and service.
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Average Cost and Cheapest Companies for Insuring a Toyota 86
Although the average insurance cost of a Toyota 86 is $1,853 per year, your rates may vary based on your chosen insurance company. GEICO provides the cheapest car insurance for this model, charging an average of $1,304 per year for full coverage. The most expensive insurer is Farmers, with an average annual cost of $2,376.
GEICO also provides the most affordable minimum coverage, with a policy costing an average of $470 annually. Farmers is the most expensive option for a minimum policy at around $818.
Is a Toyota 86 Expensive to Insure?
Insurance providers analyze various factors to determine the cost of insuring a Toyota 86. This model is expensive to insure, even though it has low value and low horsepower. Certain models tend to be more expensive to insure due to their repair costs or theft rates.
Best Companies for Insuring a Toyota 86
The cost of car insurance shouldn’t be the only factor to consider when buying a policy for your car, as the best Toyota 86 car insurance will offer good service and claims experience.
These companies provide the best car insurance for a Toyota 86, based on our analysis:
- GEICO: MoneyGeek score of 90 out of 100 ($1,304 per year)
- State Farm: MoneyGeek score of 89 out of 100 ($1,417 per year)
GEICO ranked first for affordability and third for customer satisfaction. These attributes helped it lock down the top spot in our analysis.
MoneyGeek Top Pick: GEICO
Ranks #1 for affordability out of seven insurers
Ranks #3 for customer satisfaction
Offers mechanical breakdown insurance and accident forgiveness
Mediocre ranking for claims management
Doesn’t offer deductible modification, gap insurance or new car replacement coverage
MoneyGeek picked GEICO as the best car insurance company to insure a Toyota 86 because it offers the most affordable policies and ranks well for customer satisfaction.
Its unique coverages include mechanical breakdown insurance, which protects you against repair costs in case of a mechanical problem in your vehicle. It costs less than a typical dealer's extended warranty and covers all systems and parts of the car. But you can only get it if you have a new or leased car less than 15 months old with less than 15,000 miles.
Your insurance rates generally increase after an at-fault accident, but that won't happen if you add GEICO's accident forgiveness coverage to your policy. However, this coverage is not available in some states.
MoneyGeek Runner-Up: State Farm
Ranks #2 for affordability
Ranks #2 for customer satisfaction
Offers rental car reimbursement and roadside assistance
Scored poorly for claims management
Lacks many common coverages
Drivers looking to insure a Toyota 86 can also opt for State Farm, as the company has affordable policies and ranks well for customer satisfaction. But it might not suit you if you’re looking for many coverage options, as it only offers a couple of common coverages.
State Farm’s rental car reimbursement coverage helps you cover the cost of a rental car if your own vehicle is damaged in an at-fault accident. It pays for transportation expenses, meals, lodging and deductible repayment up to specific limits.
Its roadside assistance coverage helps when your car breaks down on the road and covers related costs. Unfortunately, State Farm doesn’t offer any other relevant coverage options.
Cost of Insuring a Toyota 86 by Model Year
The average cost of car insurance for a 2017 Toyota 86 is $1,732 per year. But you will have to pay an average of $1,827 per year to insure a 2020 Toyota 86 because insurers typically charge more to insure newer models due to depreciation.
The amount you pay for a policy will change based on your chosen company and the car’s model year. GEICO provides the cheapest rates for a 2017 Toyota 86, with a policy costing an average of $1,263 annually. It’s also the most affordable insurer for a 2020 Toyota 86, charging an average of $1,343 per year.
Cost of Insuring a Toyota 86 for 16- to 25-Year-Olds
Car insurance policies generally cost more for teens and drivers in their 20s than for adult drivers aged 30 and older. Insurance companies charge an average of $8,096 annually to offer teen car insurance to a 16-year-old driver with a Toyota 86. A 40-year-old driver will pay only around $1,774 per year for a policy for the same car. But this difference decreases as teen drivers age, with rates becoming steady in their 20s.
The ideal way to get affordable car insurance as a teen driver is by adding them to a family plan, which generally costs less than individual plans. State Farm charges the most affordable rates for a 2020 Toyota 86, offering a policy at an average cost of $4,697 annually. Farmers provides the most expensive policy for the same model, costing an average of $12,202 per year. You can get affordable teen car insurance by comparing rates and shopping around.
How Does Location Affect the Cost of Toyota 86 Insurance?
Although the model type, year and driver’s age matter in the cost of car insurance, your location is essential. The cheapest company for you may vary based on what state you’re in.
MoneyGeek found that Idaho has the cheapest rates for car insurance, while Florida has the highest. When purchasing a policy for a Toyota 86, it’s best to get several quotes from the most affordable insurers in your state.
Frequently Asked Questions About Toyota 86 Insurance
MoneyGeek gathered the answers to some frequently asked questions about the cost and quality of car insurance for a Toyota 86.
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