Toyota iQ insurance group

The Toyota IQ is a sprightly city car with a quirky style. You can fit four people in the car with luggage, but it’ll be a tight squeeze. This vehicle takes a while to reach high speeds too. With that said, it is cheap to run and insure. In this guide, you’ll discover how much it costs to insure this vehicle based on the demographics of the driver.

What insurance group does the Toyota iQ fall under?

Every vehicle you see on the road is in a specific insurance group. The groups range from 1 (cheapest) to 50 (most expensive), and this helps to determine the cost of your premium. Toyota iQ models are found in insurance groups ranging from 3 to 6, meaning they’re among the cheapest cars to insure. A 30-year-old driver in an average postcode could pay around £526 for cover on a Toyota iQ 1.0 VVT-i 3d that is in insurance group 3 or around £641 for a Toyota iQ 1.33 Dual VVT-i 3 iSports 3d Multidrive that is in insurance group 6.

• How we got these rates

  These rates are based on the average cost of cover for cars in the insurance groups shown for drivers of different ages with a Newcastle (NE1) postcode, which our research suggests represents an average for insurance rates in the UK. Updated: June 2024 (source: Confused).

Toyota iQ insurance cost by location

Among the factors that affect the cost of your car insurance premium, one of the most important is your location.

To illustrate this, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a Toyota iQ 1.0 VVT-i 2 3d.

• Expensive: £848 (London SE1)
• Average: £564 (Newcastle NE1)
• Cheap: £550 (Galashiels TD1)

• How we got these rates

  These rates are based on the average cost of cover for cars in the locations shown. Our research suggests SE1 is one of the most expensive locations, NE1 represents an average cost location and TD1 represents one of the cheapest locations. Updated: June 2024 (source: Confused).

Which factors affect my Toyota iQ insurance rate?

Along with insurance group, there are many other key factors that have a big impact on your insurance premium costs:

• Engine type and capacity. Cars with larger engines cost more to insure because these engines cost more to repair and replace. It may cost £791 for insurance for a Toyota iQ 1.0 VVT-i Leather 3d, while you may pay £872 for a Toyota iQ 1.33 Dual VVT-i 3 3d. So, that’s an extra £90 per year you’ll pay for the same vehicle with a larger engine.
• Driver location. Your home address is used to evaluate the likelihood of you making a claim on your policy, based on historical claims data from your neighbourhood. For example, a 30-year-old in central London may pay £848 for insurance for a Toyota iQ 1.0 VVT-i 2 Nav 3d, while the same 30-year-old in Newcastle may only pay £564. That’s an extra £119 per year that the average 30-year-old would pay in London compared to Newcastle.
• Driver age. The youngest drivers will pay the most for car insurance because they are the most likely to make a claim. As an example, the average 20-year-old driver in London may pay £2,297 for the Toyota iQ 1.0 VVT-i Leather, while the average 40-year-old Londoner will only pay £651. That’s almost double that the younger driver would pay in this scenario.

Other factors that influence the cost of your insurance include the following:

• The model and age of your car
• Your car’s safety rating score
• Your car’s safety rating features
• Your car’s anti-theft precautions
• Your annual mileage
• Your driving history and activity
• Your no-claim discount
• Your marital status
• Your credit history and job

How can I save on my Toyota iQ premium?

Here are some ideas to help you lower the cost of your premium.

• Limit your annual mileage (where possible). The less you use the car, the lower your risk of making a claim. That’s why insurers will lower your premium if you declare a lower annual mileage.
• Pay annually rather than monthly. By paying annually, you eliminate the possibility of being charged interest on monthly premium payments.
• Install extra safety precautions. Additions to your car that make it safer will make insurers happy to lower your premium.
• Shop around for the best deal using price comparison websites. Don’t just settle for the renewal price given to you. You’ll usually find a better deal by switching to a competitor each year.

Bottom line

The Toyota iQ is a reasonably cheap car, which is cheap to insure – perfect if you are just starting out on the road. It has great safety features and is widely available to purchase from a Toyota dealer or from 3rd party sellers.

Frequently asked questions

• What is the top speed of a Toyota iQ?

  Depending on the model version, you can expect a Toyota iQ to reach a top speed of 93 miles per hour.

• Is the Toyota iQ safe?

  In its Euro NCAP crash tests, this vehicle achieved a full 5-star rating. This rating included a 91% rating for protecting adult occupants and 71% for protecting child occupants.

• How much car tax do I have to pay for the Toyota iQ?

  The UK standard car tax rate sits at £150 per year. However, you might pay more or less depending on your car’s emissions.

• Where can I buy a Toyota iQ?

  You can buy a Toyota iQ at dealerships, using online sellers or from a current owner.

• Is the Toyota iQ any good?

  The car has received a 4-star rating in its Autocar review, mostly due to its value for money. But you’ll find more powerful city cars, if you’re willing to spend just a tiny bit more.

• Where can I find Toyota iQ car insurance?

  You can compare the costs of Toyota iQ car insurance using any price comparison website.

• Is a Toyota iQ expensive to insure?

  The Toyota iQ can be found in insurance groups ranging from 3 to 6. This means they’re among the cheapest cars to insure.

Written by

Danny Butler

Publisher

Danny is a publisher at Finder specialising in insurance and investing. He previously worked at the global insurer Aon and has appeared in national media giving advice on insurance. Danny holds a BA in International Business from the University of Plymouth and has undying loyalty to his average-poor football team, Portsmouth FC. See full bio

Danny's expertise

Danny has written 368 Finder guides across topics including:

• Car, home and business insurance
• Helping people save money on their insurance
• Project management
• Giving valuable insights to website visitors