Toyota Insurance: Costs and Top Providers (2022) – MarketWatch | CarTailz

Toyota is one of the most popular and trusted names in the automotive industry. At the Home Media Review team, we’ve examined Toyota insurance cost data to help you find the right match for your car insurance needs. Our team also has the leaderboard best car insurance companies to make your decision even easier.

Toyota insurance cost

The average cost of collision damage waiver for a 2022 Toyota vehicle is $1,964 per year or $164 per month. This is about 14% higher than the national average $1,730 per year or $144 per month. These averages are based on a 35-year-old married driver with a clean driving history and good credit. Your specific insurance costs may vary.

Cheapest Toyota car to insure

According to our car insurance cost estimates, the 4Runner is the cheapest Toyota model to insure, followed by the RAV4. A fully comprehensive insurance for a 4Runner average $1,847 per year or $154 per month. The coverage for a RAV4 is approximate $1,859 per year or $155 per month.

The Camry is the most expensive Toyota model to insure with an estimated average cost of $2,058 per year or $172 per month. This is mainly because the Camry is the fifth most stolen car model in the US Kelley Blue Book.

Toyota car insurance rates by model

The table below shows the average monthly and annual comprehensive insurance rates for several 2022 Toyota models.

Factors that affect the cost of car insurance

The price you pay for insurance depends on the type of Toyota you drive, your location, and a variety of other factors.

These factors include your:

  • Age: Drivers over 30 often get lower fares than young adults or teenage drivers.
  • gender: This applies in particular to the gender stated on your driver’s license. Male drivers often pay more than female drivers.
  • Marital status: Married drivers are more likely to bundle homeowner and auto policies. They are also considered more financially stable by insurers, so they get lower rates.
  • drive recording: If you’ve had speeding tickets, at-fault accidents, a drink-driving (DUI) conviction, or other traffic violations in recent years, expect to pay higher rates.
  • credit history: Your financial stability is a major factor in how expensive your plans can become. The worse your credit rating, the higher your insurance premiums will be.

Toyota car insurance quote

If you want to find the best Toyota insurance rates, you need to do this Compare car insurance Offers from multiple providers. Most auto insurance companies offer free quotes through their websites, making it easy to shop around and find the coverage you need.

Comparisons of Toyota insurance companies

USAA offers the cheapest comprehensive car insurance for Toyota owners with an average annual premium of just $1,120 or $93 per month. However, USAA policies are only available to active duty military personnel and their immediate family members.

For all other Toyota owners, Nationwide is the cheapest insurance provider with an estimated cost of $1,325 per year or $110 per month.

Below we compare the national airlines that offer the cheapest car insurance coverage, on average, for Toyota Tundra, Tacoma, RAV4, Highlander, Corolla, Camry, and 4Runner. While totals will differ for models like the Toyota Prius and Toyota Sienna, these charts give a good indication of what different vendors are charging.

Toyota 4Runner insurance costs

USAA offers the cheapest comprehensive car insurance for 4Runners at an average cost of $1,049 per year or $87 per month. Statewide is close behind, with an estimated cost of $1,099 per year or $92 per month.

Toyota Camry insurance cost

USAA is also the cheapest insurance provider for the popular Camry model with an average cost of $1,228 per year or $102 per month. On average, Erie Insurance offers affordable comprehensive insurance for Camrys $1,310 per year or $109 per month.

Toyota Corolla insurance cost

USAA checks in again with the cheapest insurance for a Toyota model, with full coverage for a Corolla mean $1,172 per year or $98 per month. Geico offers Corolla coverage with an average of $1,354 per year or $113 per month.

Toyota Highlander insurance cost

USAA also offers the most affordable coverage for the Highlander, Toyota’s family SUV model. You can insure a Highlander for an average comprehensive cost of $1,150 per year or $96 per month by USAA. Statewide ranks second with average estimated costs of $1,398 per year or $116 per month.

Toyota RAV4 insurance cost

You can get cheap coverage for Toyota’s crossover SUV through the USAA. The company offers full coverage for the RAV4 at an average price of $1,066 per year or $89 per month. Nationwide, it is in second place with average values ​​of just under $1,168 per year or $97 per month.

Toyota Tacoma insurance cost

USAA offers the cheapest coverage for the Tacoma, Toyota’s mid-size pickup truck. You can insure a Tacoma for average $1,084 per year or $90 per month through USAA comprehensive insurance. Nationwide is the next cheapest option, with average coverage $1,249 per year or $104 per month.

Toyota tundra insurance cost

The Tundra is Toyota’s entry into the half-ton pickup market. USAA offers the cheapest insurance premiums for this model with average rates of $1,090 per year or $91 per month. Nationwide is back in second place for Tundra, providing full coverage for an average of $1,213 per year or $101 per month.

Other car insurance coverage for a Toyota

The above estimates apply to fully comprehensive motor insurance. This type of policy combines several types of motor coverage:

  • Mayhem liability insurance: Pays the other driver medical expenses in the event of a self-inflicted accident
  • Liability insurance for property damage: Covers damage to the other driver’s car and property in the event of a culpable car accident
  • collision protection: Covers damage to your car after a car accident, regardless of who is at fault
  • comprehensive insurance: Protects your car from environmental damage unrelated to traffic accidents, such as theft, fire, falling trees and more

Most states require liability insurance, and most lenders often require collision and damage waiver insurance. Depending on state laws, collision damage waiver may also be included uninsured driver insurance, Protection against personal injury (PIP) and Health insurance (MedPay).

supplementary coverage

Providers also offer a range of supplemental protection insurance products. These optional insurance offerings include:

  • Rental car refund: This is especially useful when your Toyota needs major repairs
  • Insurance against machine breakdown: Known as MBI, this covers a range of repairs and is similar to an extended warranty
  • new car replacement: In the event of a total loss, the cost of a new vehicle will be covered
  • travel disruption: Should your Toyota break down far from home, this coverage offers a fixed amount for food, lodging and other expenses
  • gap insurance: Guaranteed asset protection (gap insurance) pays the difference between the value of your vehicle and what you owe on it if the vehicle is declared a total loss

Toyota credit requirements

All new and certified pre-owned Toyota vehicles within the last five model years are eligible for financing through Toyota Financial Services. Loan terms for new Toyota vehicles range from 24 to 72 months. The contract terms for certified used vehicles vary depending on the vehicle age.

Although the company doesn’t list a minimum credit rating, a higher score translates into lower interest rates and lower monthly payments. Toyota requires a score of at least 691 to qualify for 0% interest financing.

Toyota insurance

Toyota Insurance Management Solutions or TIMS is an independent insurance agency that works with a number of trusted national providers. Nationwide, Travelers, Progressive and National General are some of the companies that underwrite Toyota insurance policies.

Toyota Insurance: Conclusion

Overall, Toyota auto insurance is more expensive than the national average. While it’s easy to find affordable insurance rates for the 4Runner and RAV4, you may have a harder time finding cheap insurance for a Camry. Providers like USAA, Nationwide, Geico, and Auto-Owners Insurance are good bets for inexpensive Toyota coverage.

Toyota Insurance: Frequently Asked Questions

Below are frequently asked questions about Toyota insurance:

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