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

The average cost of insuring a Toyota Corolla is $1,273 per year. It is among the car models that are inexpensive to insure, but individual rates will vary depending on the insurance company that you choose and the model year of your car. Shopping around can help you find the best rates.

Loading...
By  
  |  

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

car2

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.

find

The cost to insure a Toyota Corolla can change by as much as $720 per year depending on the insurance carrier.

coins

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 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

Scroll for more

swipe icon
Loading...

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

5/5

Affordability

4.5/5

Claims Ratings

5/5

User Satisfaction

5/5

Financial Stability

2
GEICO
Score:88

4.9/5

Affordability

3.5/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

3
State Farm
Score:82

4.2/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

4
Progressive
Score:80

4.1/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

5
Allstate
Score:69

3/5

Affordability

4.5/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

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

Scroll for more

swipe icon
  • Company
    Average 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

Scroll for more

swipe icon
  • Age
    Average Annual Rates
  • 16
    $5,325
  • 17
    $4,718
  • 18
    $4,154
  • 19
    $2,975
  • 20
    $2,656
  • 21
    $2,102
  • 22
    $1,936
  • 23
    $1,772
  • 24
    $1,663
  • 25
    $1,509
  • 40
    $1,273

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.

Read More About Car Insurance

Methodology

For this study, MoneyGeek compared insurance rates from different companies for a Toyota Corolla L across all available model years. Prices are based on a 40-year-old male driver with a full coverage policy that includes:

  • $100,000 in bodily injury liability insurance per person
  • $300,000 in bodily injury liability insurance per accident
  • $100,000 in property damage liability insurance per accident
  • Comprehensive and collision insurance with a $1,000 deductible

All prices stated in this article are national averages and do not reflect individual rates. These should only serve as a guide in helping you understand the cost of Toyota Corolla insurance.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.