Toyota Corolla Car Insurance Rates 2021 | Finder Canada

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Toyota Corolla insurance rates

Average Toyota Corolla insurance rates

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How much is car insurance for a Toyota Corolla?

The average cost of auto insurance for a Toyota Corolla is $294 a month or $3,528 a year. With a base price of $19,150, the annual insurance cost–to–base car price ratio is 18%.

Introduced in 1966, the Corolla is Toyota’s entry-level compact sedan. It’s one of the most popular vehicles in North America and is best known for both comfort and safety. Equipped with a number of safety features and great crash test ratings, it may be eligible for auto insurance discounts.

Compare free car insurance quotes online for your Toyota Corolla

Name Product Roadside assistance Third-Party Liability Collision Coverage Comprehensive Coverage Discounts Available Available Provinces
Sonnet Auto Insurance
Up to 25%
Alberta, New Brunswick, Nova Scotia, Ontario, PEI, Quebec
Get auto insurance with Sonnet in just five minutes. Save up to 25% on your auto insurance through discounts and bundling options.

Who it might be good for: Drivers looking to apply and manage their car insurance completely online.
Intact Car Insurance
Up to 25%
Alberta, Northwest Territories, Nova Scotia, Ontario, Yukon
Get car insurance with Intact and enjoy a quick turnaround on any lodged claims. Get a free quote through Surex.

Who it might be good for: Drivers looking to get rewarded for good driving behaviour.
Aviva Car Insurance
Up to 25%
Alberta, Northwest Territories, Nova Scotia, Ontario, Yukon
Aviva car insurance offers customizable policies, discounts and optional insurance coverage add-ons. Get a free quote through Surex.

Who it might be good for: Drivers looking to customize their auto policy.
Travelers Car Insurance
Up to 25%
Alberta, Northwest Territories, Nova Scotia, Ontario, Yukon
Travelers auto insurance offers a selection of coverage options for just about any type of vehicle. Get a free quote through Surex.

Who it might be good for: Drivers looking to get car, motorcycle, classic car, motorhome or recreational vehicle coverage.
Surex Auto Insurance
Up to 25%
Alberta, Northwest Territories, Nova Scotia, Ontario, Yukon
Submit one application and receive quotes from 10+ insurers. Save up to 25% on your car insurance, plus get access to an insurance advisor.

Who it might be good for: Drivers looking to use an insurance broker to compare multiple pricing and coverage options.
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How to compare insurance for the Toyota Corolla

After working out a budget for your monthly car payments and other ownership costs, auto insurance is the last thing you want to think about. With an average cost of $294 per month, coverage can be expensive and frustrating to shop for if you don’t know what to look for. But since auto insurance is mandatory in every province, you’ll need to start shopping if you want to take your Corolla on the road. Here’s what to look for:

  • Price. Every provider claims to have the best price on auto insurance. But since coverage and features can vary between providers, using the same information when getting quotes will help you compare similar options.
  • Deductible. In most cases, policies with a higher deductible often have lower monthly premiums, whereas those with lower deductibles usually come with higher premiums. Choose an amount that works for your situation.
  • Minimum coverage. Each province has different mandatory coverage requirements, so it’s important to ensure your policy meets your provincial minimums before committing to anything.
  • Additional coverage. Personal injury protection and medical payments coverage are two of many additional coverage options you may come across. When shopping around, think about whether or not any of these options would work for your situation.
  • Extras. Extras like roadside assistance and new car coverage may be included with your policy. If not, find out how much you’ll need to pay to get the features you want.
  • Restrictions. Find out if any restrictions apply to your policy to avoid gaps in coverage or denied claims.
  • Manufacturer offer or loyalty discount. Find out if your manufacturer has any special offers or loyalty discounts through partnerships with insurance providers.
  • Warranty. Find out what’s covered by your manufacturer or extended warranty to avoid paying for overlapping coverage.

What factors affect Toyota Corolla insurance rates?

Since performance, theft rates, repair costs, safety ratings and other variables can differ between vehicles, your choice of make and model can have a direct impact on the price you pay for auto insurance. This is because insurance providers evaluate your risk of filing claims and the cost of paying them out when calculating your premiums. Here’s how a few of the Corolla’s characteristics could affect your premiums.

  • Body type. The Toyota Corolla is a four-door sedan that’s designed for comfort and safety, which could lead to lower insurance costs.
  • Type of car. The Toyota Corolla is an entry-level compact car that shouldn’t be too expensive to maintain or repair. This could help reduce the cost of insurance.
  • Theft. The Corolla has a fairly high theft rate compared to other vehicles, which could lead to higher insurance premiums.
  • Repairs. The Corolla doesn’t need much maintenance and is inexpensive to repair. Both of these factors could help reduce the cost of insurance.
  • Safety ratings. The Corolla has great safety ratings that could make insurance cheaper.
  • Fuel type. The Toyota Corolla runs on gas, which should make insurance cheaper than diesel or hybrid vehicles.
  • Trim & packages. Choosing trims or packages that increase power or overall value may lead to higher premiums. That said, options that improve visibility and safety may be eligible for auto insurance discounts.

Does the Toyota Corolla qualify for auto insurance discounts?

You could save money on car insurance for your Toyota Corolla if it comes equipped with these safety features.

  • New car discount
  • Anti-lock brake discount
  • Anti-theft discount
  • Passive restraint discount (Airbags, motorized seat belts, etc.)
  • Emergency roadside assistance discount

Toyota Corolla safety & reliability ratings

The Toyota Corolla has been around since 1982. The midsize car is known for its spacious seating, comfortable ride and high safety scores. From 1997 to 2016, with the exception of the year 2001, the Toyota Corolla has been the top-selling passenger car in the United States.

On top of that, this vehicle was awarded near-perfect ratings in almost all crash test categories from the NHTSA.

The 2021 Toyota Corolla holds an impressive 82/100 star reliability rating from J.D. Power, which is better than most vehicles in its class.

Toyota Corolla maintenance

Like most Toyota vehicles, the Corolla is built for commuting, daily driving and other light use. It comes packed with a number of features that make it safe and comfortable to drive, and its reliable design means you can spend less time in the shop and more time on the road. But like any vehicle, routine service appointments can ensure that there are no urgent issues, allowing your vehicle to operate as it should. Here’s what to expect in terms of vehicle maintenance.

  • Toyota recommends an oil change every 8,000 km or 5 months, whichever comes first.
  • Oil changes for a Toyota Corolla should cost between $100 and $130, but your actual cost could vary.
  • Consult your owners manual or contact your dealership for more information on the Toyota Corolla’s maintenance schedule.

Is an extended warranty worth it for the Toyota Corolla?

The Corolla comes with Toyota’s standard 3-year/60,000 km limited warranty, along with a 5-year/100,000 km powertrain warranty and 5-year corrosion coverage. The standard warranty covers all parts other than normal wear such as oil and air filters, tires and so on. New Toyota vehicles also come with a 3-year or unlimited km coverage of 24/7 roadside assistance.

Toyota offers extended warranty options, so ask your dealer for more information. That said, Toyota vehicles are extremely reliable and have low average repair costs, so you should decide whether the price of an extended warranty is worth the cost.

Bottom line

The Toyota Corolla is a top-rated sedan that is best known for comfort and safety. Like most Toyotas, the Corolla comes with a number of amazing safety and driver assistance features that could reduce the chance of accidents. Compare your options to find the best price on the coverage you need.

Frequently asked questions about the Toyota Corolla

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