Compare the Cost of Toyota Corolla Insurance by Model Year and Company

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Updated: May 20, 2024

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Insurance rates for a Toyota Corolla vary significantly by model year and driver’s age. A 16-year-old driver will pay an average of $5,784 per year for a 2009 Toyota Corolla on a full coverage policy, while a 40-year-old driver will pay $1,253. For the 2022 model, a 16-year-old will pay $7,112 per year, while a 40-year-old will pay an average of $1,575 yearly. MoneyGeek rates the best insurers for balancing affordability with service and claims experience.

MoneyGeek Logo IconCar Insurance CostsToyota Corolla

Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze the average rates for a Toyota Corolla.

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These rates were updated to reflect the average cost of car insurance for a Toyota Corolla as of 2023.

10Companies Compared
41,832 Quotes Analyzed

Average Cost and Cheapest Companies for Insuring a Toyota Corolla

The average cost to insure a Toyota Corolla is around $1,453 per year for full coverage. However, the company you choose to insure with can make a big difference in your rates.

The most affordable company for full coverage is State Farm, with an average annual cost of $1,093, while the most expensive is Farmers, at $1,739 per year. State Farm is also the cheapest for a minimum coverage policy, at an average of $497 yearly, while Farmers is the most expensive at $812 per year.

Data filtered by:Results filtered by:
Coverage:Full Coverage
State FarmAverage Annual Premium$1,093
GEICOAverage Annual Premium$1,133
AllstateAverage Annual Premium$1,445
TravelersAverage Annual Premium$1,445
NationwideAverage Annual Premium$1,447
ProgressiveAverage Annual Premium$1,586
FarmersAverage Annual Premium$1,739

Is a Toyota Corolla Expensive to Insure?

The cost of car insurance for a Toyota Corolla will vary depending on various factors, such as the driver’s age, driving history and the location where the car is registered. Generally, the Toyota Corolla is moderately expensive to insure relative to other vehicle models. According to the most recent data from the National Highway Traffic Safety Administration (NHTSA), the theft rate for Toyota Corollas is above-average. Cars with higher theft rates are riskier to insure, leading insurers to charge pricier premiums.

Best Companies for Insuring a Toyota Corolla

Our analysis found that the best auto insurance companies prioritize affordability, claims management and customer experience. Our top picks for companies insuring the Toyota Corolla are:

  • State Farm: MoneyGeek score 90 out of 100 ($1,093 per year)
  • GEICO: MoneyGeek score 89 out of 100 ($1,133 per year)

State Farm's rates are the lowest among the insurers in our study, and it offers the second-best customer service rating, meaning you'll get excellent service at a more affordable price.

MoneyGeek Top Pick: State Farm

State Farm



Cheapest insurer for your Toyota Corolla


Excellent customer service rating


Offers Roadside Assistance coverage



Below average score in claims management


Doesn’t offer Original Equipment Manufacturer (OEM) coverage


State Farm is the best insurance company to choose when looking for coverage for your Toyota Corolla. Not only does it offer exceptional customer service at an affordable rate, but it also provides Car Rental and Travel Expenses coverage. If your vehicle needs repairs after a covered accident, State Farm will reimburse you for the cost of the rental car to help you get around. You can get reimbursed up to $16 per day or $400 per incident if you opt for an out-of-network rental company.

State Farm will also cover up to $500 of your deductible if you get into an accident in a rental car and up to $500 of meals, lodging and transportation expenses if the accident occurs more than 50 miles away from home.

Read MoneyGeek's State Farm Auto Insurance Review

MoneyGeek Runner-Up: GEICO




Provides quality customer service at affordable premiums for your Toyota Corolla


Offers Mechanical Breakdown Insurance


Offers Roadside Assistance



Doesn't offer Original Equipment Manufacturer (OEM) coverage


Low claims management score


GEICO is our pick as the second-best insurer for your Toyota Corolla. GEICO offers Mechanical Breakdown Insurance (MBI), Accident Forgiveness and Roadside Assistance coverage for those looking for additional protection for their Toyota Corolla. MBI covers all parts and systems on your vehicle, rather than the standard list of services covered under most dealer-extended warranties, and is available for cars that are less than 15 months old and have fewer than 15,000 miles driven.

Accident Forgiveness ensures drivers' premiums won't increase after their first at-fault accident, although this add-on coverage is unavailable in California, Connecticut or Massachusetts. Roadside Assistance coverage helps cover the cost of flat tire changes, towing and lockout services. These add-ons help provide peace of mind to frequent travelers.

Read MoneyGeek's GEICO Auto Insurance Review

Cost of Insuring a Toyota Corolla by Model Year

The average cost of car insurance for a Toyota Corolla will vary depending on the vehicle's model year. A full coverage policy for a 2009 model is estimated to cost $1,253 per year, while the same plan for a 2022 model is more expensive, at around $1,575 per year. Newer models are more costly to insure than older models since cars depreciate over time.

Data filtered by:Results filtered by:
Coverage:Full Coverage
2022Average Annual Premium$1,575
2021Average Annual Premium$1,544
2020Average Annual Premium$1,495
2019Average Annual Premium$1,501
2018Average Annual Premium$1,480
2017Average Annual Premium$1,425
2016Average Annual Premium$1,427
2015Average Annual Premium$1,401
2014Average Annual Premium$1,343
2013Average Annual Premium$1,342
2012Average Annual Premium$1,314
2011Average Annual Premium$1,265
2010Average Annual Premium$1,272
2009Average Annual Premium$1,253

Insurance rates vary widely by provider. State Farm is the most inexpensive insurer for a 2009 Toyota Corolla, with an average yearly cost of $936, while GEICO is the cheapest option for the 2022 model, at $1,222 per year.

Data filtered by:Results filtered by:
Model Year:
Model Year:2022
Coverage:Full Coverage
GEICOAverage Annual Premium$1,222
State FarmAverage Annual Premium$1,230
TravelersAverage Annual Premium$1,515
NationwideAverage Annual Premium$1,524
ProgressiveAverage Annual Premium$1,776
AllstateAverage Annual Premium$1,787
FarmersAverage Annual Premium$1,964

Cost of Insuring a Toyota Corolla for 16- to 25-Year-Olds

When determining the cost of insurance for a Toyota Corolla, providers consider the car's age and the driver's. Generally, auto insurance rates for teenagers and young adults are much more costly than for drivers in their 30s and 40s. The average annual rate for comprehensive coverage for a 16-year-old driving a Toyota Corolla is $6,421, as opposed to just $1,403 for a 40-year-old driver. Rates for teen drivers tend to decrease significantly with age until they reach their 20s, when costs tend to stabilize.

Data filtered by:Results filtered by:
Coverage:Full Coverage
16Average Annual Premium$6,421
17Average Annual Premium$5,223
18Average Annual Premium$4,588
19Average Annual Premium$3,168
20Average Annual Premium$2,869
21Average Annual Premium$2,206
22Average Annual Premium$2,041
23Average Annual Premium$1,899
24Average Annual Premium$1,804
25Average Annual Premium$1,628

Comparing providers can help you find the most affordable premiums. State Farm offers a full coverage plan for a 16-year-old driving a 2022 Toyota Corolla at $3,929 per year, compared to Farmers’ rate of $9,991 for the same policy. Note that these are individual plans — by joining a family policy, teens could save a considerable sum. Teen drivers and their families can shop around and compare quotes to determine the best cheap insurer for teens.

Data filtered by:Results filtered by:
Model Year:
Model Year:2022
Coverage:Full Coverage
State FarmAverage Annual Premium$3,929
GEICOAverage Annual Premium$5,653
TravelersAverage Annual Premium$5,973
NationwideAverage Annual Premium$6,092
AllstateAverage Annual Premium$8,318
ProgressiveAverage Annual Premium$9,356
FarmersAverage Annual Premium$9,911

How Does Location Affect the Cost of Toyota Corolla Insurance?

Location is as significant as your age and car model details in determining your auto insurance rate. Florida has the highest average premiums, while Idaho offers the lowest. To get the best deal for your Toyota Corolla, gather quotes from the most affordable insurers in your state.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:Full Coverage
AlabamaCheapest CompanyNationwideAnnual Premium$709Monthly Premium$59
AlaskaCheapest CompanyState FarmAnnual Premium$699Monthly Premium$58
ArizonaCheapest CompanyRoot Insurance CompanyAnnual Premium$682Monthly Premium$57
ArkansasCheapest CompanyState FarmAnnual Premium$629Monthly Premium$52
CaliforniaCheapest CompanyAAA CaliforniaAnnual Premium$1,001Monthly Premium$83
ColoradoCheapest CompanyAmerican National P&CAnnual Premium$541Monthly Premium$45
ConnecticutCheapest CompanyGEICOAnnual Premium$693Monthly Premium$58
DelawareCheapest CompanyState FarmAnnual Premium$881Monthly Premium$73

Frequently Asked Questions About Toyota Corolla Insurance

MoneyGeek answered the most frequently asked questions about the quality and cost of insurance for your Toyota Corolla.

What company has the cheapest car insurance for a Toyota Corolla?
What company offers the best car insurance for a Toyota Corolla?

About Mark Fitzpatrick

Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.