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.
Compare the Cost of Toyota Corolla Insurance by Model Year and Company
Updated: August 8, 2024
Advertising & Editorial Disclosure
Key Takeaways
Insuring a Toyota Corolla averages $1,453 per year or $121 per month. Compared to other vehicles, it is moderately costly to insure due to its higher market value and above-average theft rate.
State Farm offers the cheapest full coverage for a Toyota Corolla at $1,093 per year. The most expensive option is Farmers at $1,739 per year, a potential savings of $646.
Insuring a 2009 Toyota Corolla costs around $1,253 annually, while a 2022 model costs approximately $1,575 per year. Newer models generally have higher insurance costs due to their higher market value.
Car Insurance CostsToyota CorollaTable of Contents
Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze the average rates for a Toyota Corolla.
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:
Age:
Age:40
Coverage:
Coverage:Full Coverage
| State Farm | $1,093 |
| GEICO | $1,133 |
| Allstate | $1,445 |
| Travelers | $1,445 |
| Nationwide | $1,447 |
| Progressive | $1,586 |
| Farmers | $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
pros
Cheapest insurer for your Toyota Corolla
Excellent customer service rating
Offers Roadside Assistance coverage
cons
Below average score in claims management
Doesn’t offer Original Equipment Manufacturer (OEM) coverage
COMPANY HIGHLIGHTS
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.
MoneyGeek Runner-Up: GEICO
pros
Provides quality customer service at affordable premiums for your Toyota Corolla
Offers Mechanical Breakdown Insurance
Offers Roadside Assistance
cons
Doesn't offer Original Equipment Manufacturer (OEM) coverage
Low claims management score
COMPANY HIGHLIGHTS
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.
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:
Age:
Age:40
Coverage:
Coverage:Full Coverage
| 2022 | $1,575 |
| 2021 | $1,544 |
| 2020 | $1,495 |
| 2019 | $1,501 |
| 2018 | $1,480 |
| 2017 | $1,425 |
| 2016 | $1,427 |
| 2015 | $1,401 |
| 2014 | $1,343 |
| 2013 | $1,342 |
| 2012 | $1,314 |
| 2011 | $1,265 |
| 2010 | $1,272 |
| 2009 | $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
Age:
Age:40
Coverage:
Coverage:Full Coverage
| GEICO | $1,222 |
| State Farm | $1,230 |
| Travelers | $1,515 |
| Nationwide | $1,524 |
| Progressive | $1,776 |
| Allstate | $1,787 |
| Farmers | $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.
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:
Age:
Age:16
Model Year:
Model Year:2022
Coverage:
Coverage:Full Coverage
| State Farm | $3,929 |
| GEICO | $5,653 |
| Travelers | $5,973 |
| Nationwide | $6,092 |
| Allstate | $8,318 |
| Progressive | $9,356 |
| Farmers | $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:
Coverage:Full Coverage
| Alabama | Nationwide | $709 | $59 |
| Alaska | State Farm | $699 | $58 |
| Arizona | Root Insurance Company | $682 | $57 |
| Arkansas | State Farm | $629 | $52 |
| California | AAA California | $1,001 | $83 |
| Colorado | American National P&C | $541 | $45 |
| Connecticut | GEICO | $693 | $58 |
| Delaware | State Farm | $881 | $73 |
| District of Columbia | GEICO | $662 | $55 |
| Florida | State Farm | $1,058 | $88 |
| Georgia | Country Financial | $665 | $55 |
| Hawaii | GEICO | $565 | $47 |
| Idaho | American National P&C | $299 | $25 |
| Illinois | Country Financial | $663 | $55 |
| Indiana | American Family | $555 | $46 |
| Iowa | State Farm | $509 | $42 |
| Kansas | Nationwide | $670 | $56 |
| Kentucky | Nationwide | $790 | $66 |
| Louisiana | Louisiana Farm Bureau | $1,048 | $87 |
| Maine | Concord Group | $521 | $43 |
| Maryland | Progressive | $938 | $78 |
| Massachusetts | State Farm | $483 | $40 |
| Michigan | GEICO | $898 | $75 |
| Minnesota | State Farm | $797 | $66 |
| Mississippi | Direct General Insurance | $723 | $60 |
| Missouri | Nationwide | $909 | $76 |
| Montana | Progressive | $437 | $36 |
| Nebraska | American National P&C | $405 | $34 |
| Nevada | CSAA | $940 | $78 |
| New Hampshire | State Farm | $540 | $45 |
| New Jersey | Plymouth Rock Assurance | $895 | $75 |
| New Mexico | State Farm | $644 | $54 |
| New York | Kemper | $781 | $65 |
| North Carolina | Erie | $630 | $52 |
| North Dakota | American Family | $616 | $51 |
| Ohio | Nationwide | $485 | $40 |
| Oklahoma | State Farm | $662 | $55 |
| Oregon | State Farm | $706 | $59 |
| Pennsylvania | Nationwide | $580 | $48 |
| Rhode Island | State Farm | $700 | $58 |
| South Carolina | American National P&C | $463 | $39 |
| South Dakota | Allstate | $746 | $62 |
| Tennessee | State Farm | $579 | $48 |
| Texas | State Farm | $699 | $58 |
| Utah | Nationwide | $725 | $60 |
| Vermont | State Farm | $493 | $41 |
| Virginia | American Family | $601 | $50 |
| Washington | PEMCO | $534 | $44 |
| West Virginia | Erie | $784 | $65 |
| Wisconsin | GEICO | $556 | $46 |
| Wyoming | State Farm | $745 | $62 |
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?
The average cost of insuring a Toyota Corolla is $1,453 per year. Our data shows that State Farm is the most affordable Toyota Corolla insurer at an average annual rate of $1,093.
What company offers the best car insurance for a Toyota Corolla?
State Farm is the best car insurance for a Toyota Corolla, with a MoneyGeek score of 90 out of 100. This company balances affordability and quality service with scores that surpass all other top insurers. State Farm will provide excellent value at affordable rates for your Toyota Corolla.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He 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.