Car InsuranceCostsToyota PriusCompare the Cost of Toyota Prius Insurance by Model Year and Company
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Toyota Prius insurance costs can vary greatly based on the driver’s age and the model year of the car. For example, on average, 16-year-olds with a 2009 Toyota Prius pay $5,678 per year for full coverage, while 40-year-old drivers pay $1,231 annually for the same policy. For a 2022 Toyota Prius, it costs a 40-year-old $1,560 per year for full coverage, but a 16-year-old pays $7,029.
Aside from identifying Toyota Prius insurance costs and which company is the cheapest, MoneyGeek found the best insurers balancing affordability with good service and claims experience.
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Average Cost and Cheapest Companies for Insuring a Toyota Prius
For a Toyota Prius, insurance costs an average of $1,401 per year — but rates can vary dramatically depending on the insurance provider.
State Farm, for instance, is the average cheapest car insurance provider for both full coverage ($1,097 per year) and minimum coverage ($475 per year) on a Toyota Prius. Farmers is the most expensive full coverage provider (around $1,612 per year), while Allstate has the most costly Toyota Prius minimum coverage policy (roughly $716 per year).
Is a Toyota Prius Expensive to Insure?
To determine Toyota Prius insurance costs, providers may use different factors, such as the model year, driver’s age and location.
Generally, however, the Toyota Prius is not cheap, nor is it expensive to insure. It has a low horsepower, a low MSRP ($26,070 for a 2022 model) and a low theft rate, which contribute to lower insurance costs, but being a hybrid vehicle means repairs may cost more. That may be why the cost of insurance is not cheap but moderate instead.
Best Companies for Insuring a Toyota Prius?
The cost of insurance for a Toyota Prius is important, but it shouldn't be the only factor to consider when purchasing a policy. The best car insurance provider offers a balance of affordability, great service and a great claims experience.
Based on these factors, the best Toyota Prius insurance providers are:
- State Farm: MoneyGeek score of 90 out of 100 ($1,097 per year)
- GEICO: MoneyGeek score of 90 out of 100 ($1,112 per year)
State Farm takes the top position due to being the cheapest provider and achieving the second-highest score in customer satisfaction.
MoneyGeek Top Pick: State Farm
pros
Offers cheap full coverage insurance for a Toyota Prius, averaging $1,097 per year
Ranks above average in customer satisfaction
cons
Does not offer gap insurance
Low claims satisfaction rating and limited add-on coverage options
COMPANY HIGHLIGHTS
Balancing an affordable premium and above-average customer satisfaction ratings, State Farm is the best Toyota Prius insurance provider. On average, State Farm charges Toyota Prius owners $1,097 per year for a full coverage policy.
On top of an affordable policy, Toyota Prius owners can choose from State Farm’s optional coverages to supplement their policy, such as roadside assistance and rental car and travel reimbursement coverage.
Roadside assistance coverage is useful to have for any driver, as it can pay for minor assistance services, such as towing, jumpstarting a battery or unlocking a car with a professional locksmith. Rental car and travel reimbursement, on the other hand, pays for the cost to rent a car up to policy limits and, when applicable, the costs of travel expenses (up to $500) and up to $500 repayment of the deductible if you are in an at-fault accident in a rental car.
MoneyGeek Runner-Up: GEICO
pros
Offers Toyota Prius owners affordable full coverage at an average rate of $1,112 per year
Provides add-on mechanical breakdown insurance (MBI) that other insurers do not often offer
cons
Does not offer gap insurance or new car replacement coverage
Low claims satisfaction rating
COMPANY HIGHLIGHTS
For Toyota Prius owners, GEICO is a trusted provider and the best second choice for car insurance of the companies MoneyGeek surveyed. GEICO’s full coverage policy for a Toyota Prius costs an average of $1,112 annually.
Toyota Prius owners can supplement their policy with GEICO’s mechanical breakdown insurance (MBI), which is rarely offered by insurers. It offers a better level of coverage at a lower price than you usually get from dealer-extended warranties and includes all parts and systems. However, it’s only available for new or leased cars not older than 15 months and with less than 15,000 miles.
For clean record drivers, GEICO’s accident forgiveness coverage (where available) can help prevent their premium from rising after their first at-fault accident. It can be purchased or earned, after having been accident-free for five years or more and being over 21.
Cost of Insuring a Toyota Prius by Model Year
A full coverage policy for a 2009 Toyota Prius costs an average of $1,231 annually, while a 2022 Toyota Prius with the same coverage costs around $1,560 per year.
As you can see above, the average cost of car insurance for a Toyota Prius does depend on the model year. Generally, newer models are more expensive to insure, as their value is higher. They could even be more susceptible to theft, making them riskier to insure.
Alongside model year, the average cost of insurance for a Toyota Prius will vary by insurer.
For example, for a 2009 Toyota Prius, State Farm (around $924 per year) is the cheapest provider for full coverage insurance, but for a 2022 Toyota Prius, GEICO (roughly $1,232 per year) is the cheapest.
Cost of Insuring a Toyota Prius for 16- to 25-Year-Olds
Car insurance rates tend to be significantly higher for young drivers, with teenagers and young adults paying substantially more than drivers over the age of 30.
Case in point, a 16-year-old with a Toyota Prius pays an average of $6,182 per year for a full coverage policy — which is around $4,822 more annually than the cost to insure a 40-year-old driver (roughly $1,360 a year).
Generally, a teen’s car insurance premium will go down yearly as they grow older and gain more experience on the road, steadying in their 20s.
Adding a teenager to a family car insurance policy is the most cost-effective way to obtain coverage, as individual plans can be much more expensive. Plus, in most cases, a teen under 18 must have a parent or guardian as a co-signer to get a policy.
For a Toyota Prius, State Farm has the cheapest full coverage policy for 16-year-olds on an individual plan, costing an average of $3,965 per year. The most expensive, on the other hand, is from Progressive, at an average of $9,886 per year.
To get the cheapest teen car insurance, it's crucial to shop around and compare quotes.
How Does Location Affect the Cost of Toyota Prius Insurance?
Several factors affect the cost of auto insurance for a Toyota Prius, such as the model year, driver’s age and motor vehicle record. And location may have a significant influence on the cost.
Car insurance costs can vary from state to state. For instance, Idaho has the cheapest insurance rates, while New York is the most expensive state to insure a car.
When shopping for coverage for a Toyota Prius, it is helpful to obtain quotes from the cheapest insurers in your state on average.
Frequently Asked Questions About Toyota Prius Insurance
If you're in the market for car insurance for a Toyota Prius, you're probably wondering about cost and coverage. Here are some answers to frequently asked questions about Toyota Prius insurance costs.
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