Toyota Corolla Insurance [How to Find Low Rates Online]

Average car insurance rates for a Toyota Corolla cost $1,400 a year, or around $117 a month. Good drivers can save as much as $2,159 a year over higher risk drivers.

A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Sep 3, 2021

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Key takeaways:

  • Full coverage costs around $1,400 a year or $117 each month
  • A liability-only policy costs around $561 a year or $47 each month
  • Highest rates are for teenage drivers at around $5,117 a year or $426 each month
  • Good drivers can save as much as $577 a year by earning policy discounts
  • Toyota Corolla insurance costs around $119 less per year than the average vehicle

Toyota Corolla insurance rates are about $119 less per year than the average vehicle with full coverage, costing around $1,400 a year or $117 a month. Owners of an older Toyota Corolla may opt for liability-only coverage which costs about $561 a year or $47 a month.

Good drivers save up to $577 a year in policy discounts by practicing safe driving behaviors and maintaining a clean driving record. Let’s look at Toyota Corolla insurance rates, safety ratings, and more.

You can start comparing quotes for Toyota Corolla car insurance rates from some of the best car insurance companies by using our free online tool now.

What is the average insurance cost for a Toyota Corolla?

The average cost to insure a Toyota Corolla are $1,400 a year, or $117 a month. The reason this is broken down by year or month is because an insurance provider often provides payment options. That’s why sometimes you’ll see annual costs are a little cheaper, because they want you to pay it in one lump sum, rather than spread out over each month.

Are Toyota Corollas expensive to insure?

There isn’t just one set coverage policy for a car, there are many options. The chart below details how certain Toyota Corolla policies compare to other sedans like the Buick Regal, Honda Civic, and Cadillac ATS.

Vehicle Comprehensive Collision Liability Total
Toyota Corolla $308 $562 $372 $1,400
Buick Regal $306 $536 $398 $1,398
Honda Civic $280 $656 $420 $1,536
Cadillac ATS $294 $566 $398 $1,416
Chevrolet Blazer $376 $688 $316 $1,516
Subaru Impreza $320 $542 $390 $1,410
Chevrolet Cruze $308 $594 $372 $1,432

However, there are a few things you can do to find the cheapest Toyota insurance rates online.

What impacts the cost of Toyota Corolla insurance?

The Toyota Corolla trim and model you choose will affect the total price you will pay for Toyota Corolla insurance coverage. There will always be an extra cost associated with upgrading a vehicle, mostly for driver safety.

Does the age of the vehicle matter?

Older Toyota Corolla models generally have some of the cheapest rates associated with them, simply because they’re older. With new cars come greater risk; naturally the average rates of new cars is going to be higher. For example, auto insurance rates for a 2020 Toyota Corolla are $1,400, while 2010 Toyota Corolla rates are $1,148, a difference of $252.

Model Year Comprehensive Collision Liability Total
2020 Toyota Corolla $308 $562 $372 $1,400
2019 Toyota Corolla $294 $542 $390 $1,384
2018 Toyota Corolla $282 $536 $398 $1,374
2017 Toyota Corolla $272 $524 $416 $1,370
2016 Toyota Corolla $262 $502 $430 $1,352
2015 Toyota Corolla $248 $484 $442 $1,332
2014 Toyota Corolla $238 $450 $452 $1,298
2013 Toyota Corolla $230 $424 $456 $1,268
2012 Toyota Corolla $220 $380 $460 $1,218
2011 Toyota Corolla $206 $350 $460 $1,174
2010 Toyota Corolla $198 $328 $464 $1,148

Does driver age matter?

Driver age can have a significant effect on Toyota Corolla car insurance rates. For example, 20-year-old drivers pay $1,712 more for their Toyota Corolla car insurance each year than 30-year-old drivers. The reason why an older driver may see a cheaper policy premium than a teen driver is because they’re considered to be less of a risk. They’ve been behind the wheel longer, so they’ve had more experience.

What about driver location?

Where you live can have a large impact on Toyota Corolla insurance rates. For example, drivers in Los Angeles may pay $1,204 a year more than drivers in Indianapolis.

Does your driving record matter?

Your driving record can have an impact on the cost of Toyota Corolla car insurance. Teens and drivers in their 20’s see the highest jump in their Toyota Corolla car insurance with violations on their driving record. Which means there’s a chance that a 20-year-old driver with a single ticket is going to have a more expensive policy than a 40-year-old driver with a clean record.

What are the safety ratings on a Toyota Corolla?

Your Toyota Corolla auto insurance rates are influenced by the Toyota Corolla’s safety ratings. The safer a car, the lower an annual premium is going to be, since they’re not going to be looked at as a risk while on the road. See the breakdown below:

Test Type Rating
Small overlap front: driver-side Good
Small overlap front: passenger-side Good
Moderate overlap front Good
Side Good
Roof strength Good
Head restraints and seats Good
Source: Insurance Institute for Highway Safety

What are some test crash ratings for a Toyota Corolla?

Poor Toyota Corolla crash test ratings could mean higher Toyota Corolla car insurance rates.

Vehicle Tested Overall Frontal Side Rollover
2020 Toyota Corolla Hybrid 4 DR FWD 5 stars 5 stars 5 stars 4 stars
2020 Toyota Corolla 5 HB FWD 5 stars 5 stars 5 stars 4 stars
2020 Toyota Corolla 4 DR FWD 5 stars 5 stars 5 stars 4 stars
2019 Toyota Corolla 5 HB FWD 5 stars 5 stars 5 stars 4 stars
2019 Toyota Corolla 4 DR FWD 5 stars 4 stars 5 stars 4 stars
2018 Toyota Corolla IM 5 HB FWD N/R N/R N/R N/R
2018 Toyota Corolla 4 DR FWD 5 stars 4 stars 5 stars 4 stars
2017 Toyota Corolla 4 DR FWD 5 stars 4 stars 5 stars 4 stars
2016 Toyota Corolla 4 DR FWD 5 stars 5 stars 5 stars 4 stars
1-5 Star Rating Scale, N/R = No Rating | Source: National Highway Traffic Safety Administration

Does the Toyota Corolla come with any safety features?

Yes. Safety features are important in order to garner a reputation for reliability. No one is going to want to drive a car that isn’t secure. The numerous safety features of the Toyota Corolla help contribute to lower insurance rates. The 2020 Toyota Corolla has the following safety features:

  • Driver Air Bag
  • Passenger Air Bag
  • Front Head Air Bag
  • Rear Head Air Bag
  • Front Side Air Bag
  • 4-Wheel ABS
  • 4-Wheel Disc Brakes
  • Brake Assist
  • Electronic Stability Control
  • Daytime Running Lights
  • Child Safety Locks
  • Traction Control
  • Lane Departure Warning
  • Lane Keeping Assist

What does the loss probability look like with the Toyota Corolla?

The Toyota Corolla’s insurance loss probability varies between different coverage types. The lower percentage means lower Toyota Corolla auto insurance costs; higher percentages mean higher Toyota Corolla auto insurance costs.

Insurance Coverage Category Loss Rate
Collision 33%
Property Damage 11%
Comprehensive -6%
Personal Injury 56%
Medical Payment 58%
Bodily Injury 28%
Source: Insurance Institute for Highway Safety

What is the cost of insurance when financing?

If you are financing a Toyota Corolla, most lenders will require your carry higher Toyota Corolla coverage options including comprehensive coverage, so be sure to shop around and compare Toyota Corolla auto insurance rates from the best companies using our FREE tool below.

Are there any ways to save money?

Save more on your Toyota Corolla car insurance rates. Take a look at the following five strategies that will get you the best Toyota Corolla auto insurance rates possible.

  • Reduce Modifications on Your Toyota Corolla
  • Get a Plan with Only Liability Coverage If You’re Driving an Older Toyota Corolla
  • Work with a Direct Insurer Instead of an Insurance Broker for Your Toyota Corolla
  • Ask About Seasonal Insurance for Your Toyota Corolla
  • Ask for a Toyota Corolla Discount If You Have College Degree or Higher

What are some of the top companies for coverage?

Who is the best company for Toyota Corolla insurance rates? While the actual rates you pay will depend on many factors, here are some of the top companies offering Toyota Corolla insurance coverage (ordered by market share). Many of these companies offer discounts for security systems and other safety features that the Toyota Corolla offers.

Rank Company Volume Market Share
1 State Farm $65,615,190 9.3%
2 GEICO $46,106,971 6.6%
3 Progressive $39,222,879 5.6%
4 Liberty Mutual $35,600,051 5.1%
5 Allstate $35,025,903 5.0%
6 Travelers $28,016,966 4.0%
7 USAA $23,483,080 3.3%
8 Chubb $23,388,385 3.3%
9 Farmers $20,643,559 2.9%
10 Nationwide $18,442,145 2.6%
Source: Insurance Information Institute

Can you get quotes online?

Start comparing Toyota Corolla car insurance quotes for free by using our convenient online comparison tool.

Car insurance for a Toyota Corolla will fluctuate depending on pertinent factors related to underwriting car insurance. An insurance company is going to weigh the various risk factors before determining the cost to insure the vehicle.

Compare car insurance rates now by entering your ZIP code into the tool box at the top of this page!

The pertinent factors related to underwriting car insurance include the following:

  • Where the driver lives and drives
  • Gender, age, and marital status of the driver
  • Driver’s credit rating and driving record
  • Make and model of the car
  • How many miles the car is driven on a yearly basis

Most drivers just want to know if a Toyota Corolla is expensive to insure. Keep reading to find out what factors will affect your car insurance rates and just how much your rates will be.

What are some factors that influence insurance rates?

One factor that influences insurance rates for a particular vehicle is the safety of the car in an accident. The insurance company is concerned with risk, so cars that do not fare well in an accident cost more to insure. This is due to the cost of repair to the car as well as the possibility of medical expenses incurred by the insured.

The Toyota Corolla received a score of ten for safety, according to U.S. News Best Cars rating.

This high safety rating will help to lower insurance premiums on a Toyota Corolla.

Toyota Corollas are affordable to insure because of the safety ratings that the Insurance Institute of Highway Safety rates the car. The Insurance Institute of Highway Safety rates the vehicles on front, side, and roof impact. A “Good” rating is considered to be the best, followed by “Acceptable,” “Marginal,” and “Poor.”

The Insurance Institute of Highway Safety gave the Toyota Corolla a “Good” rating for most 2003-2011 year models for all potential accident impacts.

However, there were some makes and models for 2005-2008 that only received “Acceptable” ratings for side impact. Roof tests were not performed prior to 2009.

Safe cars mean less costs in repairs and medical bills, so if a car is considered safe, the insurance company is going to offer a lower rate as their risk is minimized.

Another reason the Toyota Corolla is inexpensive to insure is due to the cost of the vehicle. In fact, U.S. News rated Toyota Corolla as Number 25 out of 35 cars in the “Best of Affordable Small Cars” Category for 2011. The Toyota Corolla’s initial cost plays a role in repair and replacement of the vehicle when the insurance company is calculating risk.

Can safety features lower what you pay each month?

The following safety features are viewed by auto insurance companies as tools that help to lower the risk of insuring you:

  1. Electronic Stability Control
  2. Accident Avoidance System
  3. Daytime Running Lights
  4. 4 Wheel Anti-Lock Brakes (with panic stop control)
  5. Airbags (front, side, head)

The more standard safety features that a vehicle has, the more likely you are to get a lower rate. The Corolla auto insurance costs are relatively good for a vehicle of its class, but the overall value of the vehicle can make it slightly more expensive than some comparable models.

Overall though, factors like stability control, daytime running lights, and anti-lock brakes will help reduce the cost of insuring your Corolla.

Do crash test ratings affect rates?

Insurance providers consider the overall safety of a vehicle when determining what rate to offer. In government crash test ratings, the Corolla received a 4 out of 5 star rating for frontal impacts. Side impact tests received a perfect score of 5 stars for front occupants, while rear passenger test ratings for the vehicle was an overall rating of 4 stars.

These ratings are fairly decent but do not allow for the absolute best reductions in insurance rates compared with similar competitors models that scored perfect in front crash tests.

Why is car insurance more expensive for the Toyota Corolla?

One reason Toyota Corollas may be more expensive to insure is due to theft. Car insurance companies collect statistics on how often a car is stolen. The more desirable a car is to thieves, the more expensive the car insurance premium.

Although the Toyota Corolla does not get stolen nearly as much as the Toyota Camry, the 2007 Toyota Corolla is Number Ten on the Top Ten list of America’s Most Stolen Cars per the National Insurance Crime Bureau, according to MSN News.

Another factor that could possibly make a Toyota Corolla more expensive to insure than a Sports Utility Vehicle or minivan is the actual person who drives the Toyota Corolla. Toyota Corolla drivers are usually unmarried individuals. Because of the size and price of the car, the drivers are also often first-time drivers.

These components will contribute to higher insurance rates.

In fact, Toyota Corollas were ranked very high on the list of “Ten Best Cars for Teens” compiled by About.com. Part of the reasoning behind the rankings is due to the fact that a Toyota Corolla comes in a V4 engine which makes it almost impossible to speed because it is only a four horsepower engine.

Although the Toyota Corolla may cost slightly more to insure as compared to other cars, the cost of insurance premiums on Toyota Corollas are still quite low.

Are there any discounts available?

Many people go through the process of getting insurance without paying attention to the fact that they can get a wide variety of different discounts. All of the various safety features of the Toyota Corolla should be known by the owner, so that they can state them to the insurance company and hopefully get all the discounts that they qualify for.

Besides the actual vehicle, there are other forms of discounts as well.

How safe a driver you are can make a huge difference in how much you will pay when insuring a Toyota Corolla.

Problems like accidents and an extensive claims history through other insurance companies will more than likely drive up your insurance quote.

What are the overall rates to insure a Toyota Corolla?

Although insurance premiums vary depending on factors like the ones mentioned above, you can find estimates for insuring Toyota Corolla on the internet. For instance, AOL Autos estimates a 2011 Toyota Corolla will cost $1,122 a year to insure.

However, a 2009 Toyota Corolla can actually cost you more to insure due to the age of the car. The older the car, the more costly the repairs become. And if you’ve reached out to your current provider for assistance, or even a handful of other insurers, keep your details straight. For comparison purposes, make sure all the information you give to a provider is the same such as the age of the car and the model type. That way you’re getting accurate information in order to find the best price.

Compare car insurance quotes on Toyota Corollas by entering your ZIP code into the FREE tool box at the bottom of the page now!