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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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