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Average Toyota Corolla insurance rates
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.
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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%.
Monthly insurance rate
Base car price
To determine our estimated cost, we aggregated quotes from insurance companies using this profile:
2017 Toyota Corolla
10,001–15,000 miles driven yearly
No accidents in the past five years
Anti-theft device on vehicle
Driver located in New York
Our estimated price is for basic coverage, which we define as two times the state required minimum and the addition of bodily injury, property damage, uninsured motorist, bodily injury and personal injury protection.
Other factors that can affect your auto insurance rate
While this estimate may seem a bit high, your actual cost may be higher or lower depending on a number of factors. Your annual mileage, driving history, location and other variables can affect the cost of car insurance, so it’s essential that you get quotes that reflect your actual situation.
Toyota Corolla model year
Amount of coverage you need
Estimated miles you drive in a year
Vehicle’s safety and anti-theft features
Driver’s credit score and location
Driver’s age, marital status and gender
Driving history in the past five years
Whether the driver rents, leases or owns the vehicle
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 $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:
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 state has different mandatory coverage requirements, so it’s important to ensure your policy meets your state 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.
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What factors affect car insurance rates for Toyota Corolla?
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 an is inexpensive to repair. Both of these factors could help reduce the cost of insurance.
Safety ratings. The 2018 Corolla received the IIHS top safety pick and 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.
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.
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 5,000 miles or 5 months, whichever comes first.
Oil changes for a Toyota Corolla should cost between $75 and $125, but your actual cost could vary.
The Corolla has an average annual repair cost of over $221, which is below average for similar vehicles.
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/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.
Compare Toyota competitors
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.
Frequently asked questions about the Toyota Corolla
The Corolla comes equipped with a number of award-winning safety and driver assistance features that may be eligible for discounts. That said, discounts and rates vary between providers, so you’ll need to get quotes from multiple sources to find the actual price you’ll pay for coverage.
There is no single best provider for the Corolla. Auto insurance policies and rates are affected by a number of driver and vehicle-related factors, so you’ll need to compare your options and get multiple quotes to find out which is best for your situation.
You can learn more about state minimums here, or you can speak with your provider to find a policy that suits your needs. When shopping around, it’s essential to find a policy that fits into your budget but also fulfills your state’s minimum requirements.
Which car insurance provider is best for me?
Looking to save on car insurance? Answer these three questions to find a provider that best fits your needs and budget.
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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