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Compare the Cost of Toyota Corolla Insurance by Model Year and Company
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Ensure you're getting the best rate. Review quotes from a top insurance company.
When buying auto insurance for a Toyota Corolla, it is advisable to compare prices. This way, you can compare Toyota Corolla insurance rates and find the best deal possible. Auto insurance carriers will charge different rates depending on the car model year. Individual circumstances of the driver will also affect the cost of the policy.
Key Takeaways
The average Toyota Corolla insurance cost is $1,273 per year, which is slightly lower than the $1,427 annual average cost of insurance for the average car model.
The cost to insure a Toyota Corolla can change by as much as $720 per year depending on the insurance carrier.
Toyota Corolla insurance rates can change by as much as $340 per year depending on how old the car is, with older models having cheaper insurance rates.
How Much It Costs to Insure a Toyota Corolla and the Cheapest Company
Different top auto insurance companies provide varying Toyota Corolla insurance quotes. The average insurance for this model typically costs $1,273 per year. However, your choice of insurer can impact the cost of your auto insurance policy.
USAA offers the cheapest average insurance rate for a Toyota Corolla, at $989 per year. The most expensive option, Allied, charges an average of $1,709 per year. That is $720 more.
The Average Annual Cost of Toyota Corolla Insurance by Company
In conducting research, MoneyGeek used average insurance rates from different auto insurance providers using a base driver profile. It is a 40-year-old driver who has 100/300/100 liability insurance with comprehensive and collision coverage.
The Average Cost to Insure a Toyota Corolla by Company
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- CompanyAverage Annual Rates
- 1.$989
- 2.$1,025
- 3.$1,236
- 4.$1,260
- 5.$1,440
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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Is a Toyota Corolla Expensive to Insure?
When calculating auto insurance rates, carriers evaluate various factors. One of them is the model of the car. In general, high-value models are expensive to insure.
Toyota Corolla insurance rates tend to be inexpensive compared to the cost to insure other car models. That is because it has low value and low horsepower. Insurers charge less for low-value cars due to cheaper repair costs. Models with low horsepower are also less likely to get into major accidents, making them less risky to insure.
The Best Car Insurance Company for a Toyota Corolla
Aside from considering the cost of insurance, you should also evaluate insurance carriers when looking to buy an auto insurance policy.
MoneyGeek ranked insurers based on a rating system that checks affordability, customer complaints, customer satisfaction and financial stability. Based on the scores, MoneyGeek found:
- The best car insurance for a Toyota Corolla is USAA. It is only available to former or current military members and their families.
- GEICO comes in second place after getting high ratings across categories.
1
USAA
Score:99
2
GEICO
Score:88
3
State Farm
Score:83
4
Progressive
Score:81
5
Nationwide
Score:77
6
Allstate
Score:73
7
Allied
Score:NaN
How Much It Costs to Insure a Toyota Corolla by Model Year
Insurance rates are also based on your car’s model year. Due to value depreciation over time, older cars tend to have cheaper collision and comprehensive insurance rates.
Car insurance rates for a Toyota Corolla can increase by up to $340 per year depending on the vehicle’s age. The average cost of auto insurance for a 2005 Toyota Corolla is $1,035 annually. A 2020 model costs $1,376 per year to insure.
Toyota Corolla insurance rates may differ by insurer depending on the model year of your car. USAA offers the cheapest option at $1,019 per year for a 2020 Toyota Corolla.
You can check how rates compare by company for the model year of your Toyota Corolla below.
The Average Cost to Insure a Toyota Corolla by Model Year
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- CompanyAverage Annual Rates (2020 model)Average Annual Rates (2019 model)Average Annual Rates (2018 model)Average Annual Rates (2017 model)Average Annual Rates (2016 model)Average Annual Rates (2010 model)Average Annual Rates (2005 model)
- 1.$1,019$1,026$1,050$1,050$1,019$901$857
- 2.$1,115$1,075$1,071$1,038$1,073$953$850
- 3.$1,312$1,289$1,366$1,347$1,279$1,087$974
- 4.$1,377$1,374$1,333$1,320$1,297$1,141$980
- 5.$1,435$1,454$1,473$1,489$1,550$1,384$1,295
How Expensive Is It to Insure a Toyota Corolla Compared to Other Cars?
Generally, the cost to insure a Toyota Camry is inexpensive. The average rate is $1,273 per year. Meanwhile, the average annual rate across all models is $1,427 per year. The Toyota Corolla costs an average of $155 less per year to insure compared to the national average.
How Much It Costs to Insure a Toyota Corolla for 16- to 25-Year-Olds
If you are a young driver, chances are you will pay higher auto insurance rates. Insurers tend to charge more to teens due to their lack of driving experience.
The average annual Toyota Corolla insurance cost is $4,154 for 18-year-old drivers. 40-year-old drivers typically pay $2,881 per year for a similar policy.
An auto insurance policy can be expensive for teens to purchase on their own. But young drivers and their parents can save money by sharing the same policy.
Check the list of average rates for a Toyota Corolla for drivers ages 16 to 25.
The Average Cost to Insure a Toyota Corolla by Driver Age
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- AgeAverage Annual Rates
- 16$5,325
- 17$4,718
- 18$4,154
- 19$2,975
- 20$2,656
How Does Location Affect the Cost of Toyota Corolla Insurance?
Where you live is an important factor that insurance providers consider when preparing a Toyota Corolla insurance quote. Find out more about the cost of auto insurance in individual states with MoneyGeek’s state page analysis.
FAQs About Toyota Corolla Insurance
The model of a car is only one of the determining factors that carriers use to calculate insurance rates. Here are some frequently asked questions to help you find the best insurance for your Toyota Corolla.
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