Toyota Corolla Insurance Facts

If you need car insurance for a Toyota Corolla, you will find plenty of insurance companies willing to offer coverage at very low rates. Most insurance companies typically cover Toyotas, and Corollas are among the least expensive models to insure.

The average Toyota Corolla insurance costs around $1,273 annually or $106 each month. Rates for Toyota Corolla coverage is lower than the national average for car insurance, which is $1,427 annually or $119 each month.

Toyota Corolla auto insurance rates can vary significantly based on the insurance company. For example, you could get your annual Toyota Corolla insurance rates as low as $720 annually, depending on the insurance company. You may also find that older Toyota models are eligible for cheaper coverage.

As you search for cheap auto insurance rates online for your Toyota Corolla, it’s important to compare quotes from different companies before making your decision. Comparing quotes can help you get the coverage you want at a price that works for you.

How much is Toyota Corolla insurance?

Costs vary regarding insurance for a Toyota Corolla. On average, Toyota car insurance rates are $1,273 annually or $106 monthly.

Geico offers full coverage car insurance on a Toyota Corolla for around $1,025 annually or $85 each month. Rates with State Farm and Progressive are around $20 more per month, at $103 and $105 monthly, respectively. 

With Nationwide, you’ll pay around $1,440 annually or $120 each month for a full coverage car insurance policy. Allstate charges $1,591 annually or $133 monthly. The most expensive insurance for a Toyota Corolla is with Allied, which charges $142 per month.

How much does car insurance for a Corolla cost for young drivers?

In most cases, auto insurance for teens and young drivers costs a lot more. Even if your teen or young adult driver has a Toyota Corolla, you may still pay more for auto insurance coverage than you think.

The average cost for Toyota Corolla coverage for an 18-year-old driver is $4,154 annually or $346 per month. However, young drivers may be able to save money on car insurance by adding themselves to a parent or guardian’s auto insurance policy.

Compared to an 18-year-old, 25-year-old drivers pay a lot less. For example, Toyota Corolla car insurance rates for a 25-year-old are half the price of teen drivers at $1,509 annually or $126 each month. 

Does it cost more to insure a new Toyota Corolla?

Insurance rates vary for several reasons. One factor insurance companies may care about is your Toyota Corolla’s age. 

A new version of the Toyota Corolla may cost a bit more to insure than an older model. For example, 2021 Toyota Corolla insurance costs around $1,384 annually or $115 per month, while 2019 Toyota Corolla insurance rates are $1,370 annually or $114 per month. 

A model a year or two older may cost a bit less to cover. However, a Toyota Corolla that’s 10 years old may be much cheaper. The average cost for insurance for a 2011 Toyota Corolla is around $1,148 annually or $96 monthly.

If you drive a newer model of the Toyota Corolla, you may pay more for car insurance. But you may also be eligible for savings based on your car’s safety features. In addition, certain discounts could help you save up to 25% on your car insurance coverage.

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What factors impact my Toyota Corolla car insurance rates?

While it’s helpful to know the average insurance cost for a Toyota Corolla, many other factors that affect car insurance rates. These include where you live, your driving record, your credit score, and the type of coverage you’re interested in. 

Some of the most notable factors include:

• Driving history. You’ll pay less for car insurance coverage if you have a clean driving record.
• Age. Younger drivers tend to pay higher rates. If you’re over 25, your age may not be a significant factor regarding car insurance rates. 
• Safety features. Vehicles with safety features like air bags often have cheaper auto insurance rates. 
• ZIP code. If you live in a busy city or congested area, you can expect to pay higher rates based on the likelihood of being involved in an accident. 
• Credit score. Auto insurance and your credit score are related, and people with bad credit pay higher rates for coverage. You may enjoy more reasonable rates for your Toyota Corolla if you have a good credit score. 
• Coverage type. You’ll pay less than full coverage if you only purchase a minimum liability policy.

If you have a clean driving record and good credit, you’ll get the best Toyota Corolla insurance rates possible. Start comparing rates now from several companies with our free quote tool below. 

How does auto insurance for a Toyota Corolla compare to other sedans?

The cost to insure a Toyota Corolla will likely be similar to the cost of insuring other, similar makes and models of vehicles. For example, the Toyota Corolla, Honda Civic, and Mazda 3 are all comparable regarding auto insurance rates.

The cost of insuring your Toyota Corolla also depends on the insurance company you shop with and your individual factors, like driving history and where you live. 

Is the Toyota Corolla a safe car?

According to the National Highway Traffic Safety Administration (NHTSA), the Toyota Corolla is safe.

As you can see, the Corolla received 5/5 stars for frontal crash safety and side crash safety. In addition, the Corolla received 4/5 stars regarding rollover crash tests, which test the vehicle’s likelihood of rolling onto its roof. 

According to the Insurance Institute for Highway Safety (IIHS), the Toyota Corolla gets the highest possible rating for crash tests in the following areas:

• Front with moderate overlap
• Front with a small overlap
• Head restraints and seats
• Roof strength
• Side

If you own a Toyota Corolla, you can rest assured your vehicle is safe. As a bonus, the safe nature of your car may equate to savings in terms of auto insurance costs. 

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How can I find the cheapest Toyota Corolla car insurance?

You should consider several things to find the cheapest coverage for your Corolla. Some of the things you should look out for include:

• Price
• Car insurance deductible
• Minimum coverage
• Additional coverage
• Extras
• Restrictions
• Auto insurance discounts
• Warranty

While the initial rate with one company may be cheaper than the rest, you may find that another company works best after considering these additional factors. Compare Toyota Corolla insurance quotes from at least three companies to get a better idea of which fits your needs better.

What is Toyota lease insurance?

If you lease a Toyota Corolla, you must meet your state’s requirements for liability coverage. You may also need a full coverage policy that includes both collision insurance and comprehensive car insurance. 

Collision insurance helps cover repairs on your vehicle after any accident or collision with another vehicle. However, you’ll need to pay the deductible before your coverage kicks in.

Comprehensive auto insurance covers damage to your vehicle outside of an accident. Some of the most common comprehensive insurance claims include vandalism, damage from inclement weather, and damage caused by wild animals.

If you own your Corolla but have an auto loan, you may want to consider purchasing GAP insurance. GAP coverage helps pay the difference between what you still owe on your vehicle and the car’s actual cash value after it’s totaled in an accident.

You can purchase GAP insurance through Toyota Financial Services, but you may be able to find cheaper coverage through another company. If you already have an insurance provider, ask how much it would be to add GAP insurance to your policy. 

Toyota Corolla Insurance: The Bottom Line

If you own a Toyota Corolla, your insurance will cost around $1,273 annually or $106 monthly. You may find cheaper coverage with certain companies, depending on your driving history, credit score, ZIP code, coverage types, and more.

As you shop for Toyota Corolla insurance, compare quotes from several companies before making a decision. Comparing quotes from different companies will help you find the insurance you need without paying too much for coverage.

Toyota Corolla insurance is often cheaper than the national average, so you may be happy with the rates you receive. Still, comparing quotes at least once a year will help ensure you don’t overpay for Toyota car insurance coverage.

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