Which Vehicle Is Cheaper to Insure: Honda Civic or Toyota Corolla?

Last Updated on March 5, 2024

Shopping for a car is no easy task. You need to consider many factors before making this large purchase. It is essential to look at cars that will provide you with the most value for the money you pay for them.

To determine the true cost of owning different types of vehicles, you will need to look at the big picture. The actual cost of owning a particular vehicle will include the maintenance costs, repair costs, financing fees, fuel costs, depreciation, and the cost to insure a particular vehicle over at least five years.

This means that even though the cost of a Honda Civic might be $700 more to purchase over a Toyota Corolla, when the expenses are added up, it actually will cost much more.

Comparing the Costs of Owning a Honda Civic Over a Toyota Corolla

According to Edmunds, the cost of owning a Toyota Corolla for five years is around $32,749. The true cost of owning a Honda Civic for five years comes in at around $34,007, or about $1258 more. Let’s take a closer look at where the differences in costs for these two vehicles lie.

For the 2024 models of these cars, here are some key points to consider:

  • Passenger and Cargo Space: The 2024 Honda Civic offers more passenger and cargo space than the Toyota Corolla. The Civic provides up to 99.0 cubic feet of passenger space and a trunk capacity of 14.8 cubic feet for the sedan and 24.8 cubic feet for the hatchback. The Corolla, in contrast, offers 88.6 cubic feet of passenger space in the sedan and 84.6 cubic feet in the hatchback, with cargo capacities of 13.1 cubic feet and 23.0 cubic feet, respectively.
  • Reliability: In terms of reliability, the Toyota Corolla scores higher with a J.D. Power reliability rating of 85/100, while the Honda Civic is rated at 80/100.
  • Performance and Engine Options: The Corolla has a standard 2.0-liter four-cylinder engine offering 169 horsepower. It also has a hybrid model and a high-performance GR Corolla version. The Civic’s standard engine is a 2.0-liter four-cylinder with 158 horsepower, but it offers a more powerful turbocharged variant and a performance-focused Type R model. A new hybrid model is also anticipated for the Civic.
  • Fuel Economy: The Corolla boasts impressive fuel efficiency, especially in its hybrid model, which offers up to 53 city/46 highway mpg. The gas-powered model provides up to 31 city/40 highway mpg. The Civic’s fuel efficiency for its gas-powered model is also competitive, with up to 33 city/42 highway mpg.
  • Warranty and Maintenance: Both cars have a 3-year/36,000-mile basic warranty and a 5-year/60,000-mile powertrain warranty. They also offer complimentary maintenance plans, with Toyota providing a 2-year/25,000-mile plan and Honda offering a 2-year/24,000-mile program​

When comparing the costs of the Toyota Corolla and the Honda Civic, one will quickly see that the costs for taxes, fees, depreciation, and financing are very close. In addition, the cost of fuel for both vehicles is very similar. So, where does the difference come in? Surprisingly, the cost difference between these two vehicles is in insuring each of these vehicles.

Insurance Costs of the Honda Civic and Toyota Corolla

When searching through the data for the Honda Civic and Toyota Corolla, it is found that the average cost for insuring a Toyota Corolla for the first year is around $1730. The average cost for insuring a Honda Civic for the first year is around $1900.

Not only is insuring a Honda Civic more during the first year, but it is also more during the years after as well. Even when the rates of insurance drop as the vehicle ages, it still costs more to insure a Honda Civic than it does to insure a Toyota Corolla. These rates are for the same amount of insurance coverage.

Over the course of 5 years, it will cost around $9280 to insure the Toyota Corolla and about $10,250 to insure a Honda Civic. With these estimates, it is around $980 cheaper to insure a Toyota Corolla over the course of 5 years than a Honda Civic.

Why Is a Honda Civic More Expensive to Insure?

After learning that a Honda Civic is more expensive to insure than a Toyota Corolla, you may be wondering why. It is especially confusing because these two vehicles are very similar.

Insurance companies look at many different factors when they are considering the premiums for a vehicle. The riskier it is for an owner of a vehicle to file a claim for damages or injuries, the higher the premiums will cost.

The safety rating of a vehicle is one of the things that an insurance company looks at when determining a premium for that vehicle. This is why insurance companies look at reports provided by the NHTSA as well as the Institute of Highway Safety to see how likely it is for a person to file third-party personal injury claims against the insurance policyholder.

According to the performance of each of the vehicles, the Toyota Corolla received a 5-star rating overall, and the Honda Civic has a 4-star rating overall. Since the passengers in the back seat of a Honda Civic have a higher risk of being injured should the vehicle be involved in an accident, the rates for medical payments and bodily injury are higher than the rates for the same coverage of a Toyota Corolla.

Insurance companies do not only use safety ratings to determine premiums. Insurance companies also consider the costs of repairs and claims data. The repair and maintenance costs are similar for the Honda Civic and the Toyota Corolla, but it is still more expensive to repair Honda Civics than Corollas. This also makes the premiums for collision and comprehensive insurance coverage higher.

Overall, when it comes to the cost of owning either a Honda Civic or a Toyota Corolla, both cars are affordable and reliable. However, the difference in costs lies within the cost of insuring each of the vehicles, and it is a bit more expensive to insure the Honda Civic than it is to insure the Toyota Corolla.

James Shaffer
James Shaffer James Shaffer is a writer for InsurancePanda.com and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor's degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.
Back to Top