Toyota Corolla insurance rates
Shedding light on car insurance prices
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Introduced in 1966, the Corolla is Toyota’s entry-level compact sedan. It’s one of the most popular vehicles in the US 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.
The average cost of auto insurance for a Toyota Corolla is $179 a month or $2,148 a year, almost $1,000 higher than the national average.
A 2017 Toyota Corolla starts at a base price of $23,070. With the average insurance rate at $2,100 per year, the annual insurance cost–to–base car price ratio is 9.1%.
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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 $125 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 almost every state, you’ll need to start shopping if you want to take your Corolla on the roads. Here’s what to look for:
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.
You could save money on car insurance for your Toyota Corolla if it comes equipped with these safety features.
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.
U.S. News and J.D. Power give the 2018 Corolla a 9.3/10 for safety. On top of that, this vehicle was awarded near-perfect ratings in almost all crash test categories from the IIHS.
The 2018 Toyota Corolla holds an impressive 4.5/5 star reliability rating from U.S. News and J.D. Power, which is far better than most vehicles in its class.
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.
The Corolla comes with Toyota’s standard 3-year/36,000 mile limited warranty, along with a 5-year/60,000-mile 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 two years or 25,000 miles of ToyotaCare, which covers scheduled maintenance and 24/7 roadside assistance.
It’s unclear whether or not Toyota offers any extended warranty options, but you should 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.
Find out what else Toyota has to offer or explore other vehicles from different manufacturers.
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.
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Wielding a degree in Economics from Dalhousie University, Peter Carleton is a writer that covers banking and investing at finder.com. From savings accounts to cutting-edge banking apps, robo-advisors and beyond, he breaks down what you need to know about where you put your money. When Peter's not thinking about bank accounts and investing tools, he runs a creative agency and spends his spare time cooking or reading.
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