How Much Does It Cost to Insure a Toyota Corolla?

Last Updated on March 5, 2024

The Toyota Corolla is one of America’s most popular vehicles. On average, it costs around $122 per month to insure a Toyota Corolla, or approximately $1,464 per year.

Toyota Corolla insurance costs vary based on many factors, including everything from model year to ZIP code.

Keep reading to find out everything you need to know about the cost of insuring a Toyota Corolla – and how to save money on Toyota Corolla insurance.

Key Takeaways:

  1. The average cost of insuring a Toyota Corolla in the United States is approximately $122 per month or $1,464 per year, slightly below the national average for full coverage car insurance.
  2. Toyota Corolla insurance rates are influenced by various factors including the driver’s age, driving history, the car’s model year, and the specific ZIP code where the vehicle is parked.
  3. To save money on Toyota Corolla insurance, drivers can compare rates from different insurers, adjust their coverage levels, practice safe driving, and take advantage of available discounts.

It Costs $122 Per Month, On Average, to Insure a Toyota Corolla

The average Toyota Corolla driver in the United States pays $122 per month for full coverage car insurance, according to our research.

Full coverage car insurance includes liability coverage, collision coverage, and comprehensive coverage. It covers other drivers and their property along with your own vehicle.

Toyota Corolla insurance tends to be more affordable than insurance for other vehicles. The average driver in the United States pays around $1,500 per year for full coverage car insurance, while Toyota Corolla drivers pay $1,464 per year.

What Does the Average Toyota Corolla Insurance Policy Cover?

The average Toyota Corolla insurance policy in the United States costs $122 per month and includes the following coverages:

  • Bodily injury liability coverage, which covers other drivers, passengers, and pedestrians from injuries caused as a result of your actions.
  • Property damage liability coverage, which covers damage caused to another person’s property as a result of your actions.
  • Collision coverage, which covers the cost of repairing your Toyota Corolla after an accident.
  • Comprehensive coverage, which covers non-accident-related damage to your vehicle and certain other damages – like vehicle theft and collisions with animals.
  • Personal injury protection or medical payments coverage, which is required in certain states.

Your Toyota Corolla insurance policy could also include roadside assistance, rental reimbursement, and other coverages, depending on your insurer and state-specific insurance requirements.

What Factors Impact the Cost of Toyota Corolla Insurance?

The cost of Toyota Corolla insurance varies based on location, model year, vehicle value, state insurance laws, the address where you park your Toyota Corolla at night, driver age, driving history, and dozens of other factors:

Driving History & Driver Age: Driver-specific factors impact your Toyota Corolla insurance premiums more than any other factors. A 40-year old driver with 20+ years of safe driving experience pays less for Toyota Corolla insurance than an 18-year old driver, all else being equal.

Vehicle Year & Value: Insurers consider the value of your Toyota Corolla when calculating rates. A 2022 Toyota Corolla with 10,000 miles is worth more than a 2012 Toyota Corolla with 100,000 miles. Trim options (like L, LE, LE Eco, SE, XLE, and XSE) also impact the cost of Toyota Corolla insurance.

State Insurance Laws: Some states have strict insurance laws that lead to higher insurance premiums, and they push these higher premiums onto customers.

ZIP Code: Insurers need to know where you park your Toyota Corolla at night. Some ZIP codes have higher accident rates than others. Other ZIP codes have high rates of vehicle theft.

Insurance Coverage: Want to save money on Toyota Corolla insurance? Drop to liability-only coverage. Liability-only coverage includes bodily injury and property damage liability – required in most states – with limited coverage for your own vehicle.

Dozens of Other Factors: Insurers consider dozens of factors when calculating insurance premiums – from local hurricane risk to the number of uninsured drivers in your area.

These factors considerably change the cost of Toyota Corolla insurance.

Some Toyota Corolla drivers in the United States pay as little as $500 per year for full coverage insurance on their Toyota Corolla. Others pay over $3,000.

Florida, for example, is known for its higher-than-average car insurance premiums. The average Toyota Corolla driver in Florida could pay as much as $212 per month for full coverage car insurance – roughly 80% higher than the US average.

Other states, meanwhile, are known for cheap insurance premiums. Drivers in Idaho, Hawaii, and Maine, for example, pay around $95 per month, on average, to insure a Toyota Corolla.

By comparing quotes and shopping around, you can ensure you pay the cheapest possible rate for your Toyota Corolla insurance.

How to Save Money on Toyota Corolla Insurance

Some of the best ways to save money on Toyota Corolla insurance include:

  • Compare rates with multiple providers
  • Avoid sticking with one insurer; compare rates every 6 to 12 months or after major life events (like a move or marriage)
  • Adjust coverage based on your needs; not all Toyota Corolla drivers need full coverage car insurance or roadside assistance, for example
  • Practice safe driving
  • Take a defensive driving course
  • Take advantage of company-specific discounts

What’s the Best Insurer for Toyota Corolla Insurance?

Some insurers are known for offering particularly affordable rates to Toyota Corolla drivers. By requesting a quote from these companies, you can save hundreds per year on car insurance.

Some of the best insurers in the United States for Toyota Corolla insurance include:

However, rates vary widely between states.

Some insurers offer cheap Toyota Corolla insurance in some states but not others. Enter your ZIP code into an online insurance comparison form to get accurate, affordable quotes for Toyota Corolla insurance in your area.

James Shaffer
James Shaffer James Shaffer is a writer for 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.
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