Toyota Motor Car Insurance Review [2020]

Toyota Motor car insurance offers GAP protection through the company's used car dealerships. Toyota Motor has an A credit rating from AM Best.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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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 30, 2020

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Company Details
Address: 6565 Headquarters Drive PM351
City: Plano
State: TX
ZIP Code: 75024
Phone Number: 469-786-8281
Year Founded: 1986
AM Best Rating: A (Excellent)
Company Rating 0 (0 reviews)

Here's what you need to know...

  • Toyota’s website will be more insightful when you want to compare their insurance department to other companies
  • Most car dealers have built a relationship with a bank or financier who agrees to provide creative financing for their customers
  • One of Toyota’s perks is offering GAP insurance

Most people recognize the name Toyota as one of the top automakers in the world. Toyota executives have obviously decided diversification is the key to the company’s future.

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As companies expand, there comes a time when the executives have to decide on what direction to take the company.

Many make the decision to diversify and offer new products and services related to their brand. Others may decide to expand on what they have with an improved version of the original.

Toyota’s decision to offer insurance for their cars is not too different from what other companies are already doing. Used car dealers have offered in-house financing for years.

Most have built a relationship with a bank or financier who agrees to provide creative financing for the used car dealer’s customers.

Most of these companies are able to make some type of concessions for continued business. That concession may be in the form of accepting high-risk drivers at a standard car insurance rate.

Another may be the willingness to accept deferred or reduced insurance down payments with the purchase of a new car.

Toyota’s website will be more insightful in supplying the information that makes their insurance department different from your average car insurance company.

One of their perks offered is GAP or Guaranteed Auto Protection. Generally, the insurance company pays you the market value of your vehicle when your car is considered a total loss whether from:

Ultimately, you still have to pay what you owe on the car. However, GAP will pick up the tab on whatever you still owe after the insurance has paid its share.

And in most states, GAP will also pay up to $1,000 of your auto insurance deductible.

Toyota Motor Insurance has received a rating of A from A.M. Best with a positive outlook on both credit and financial strength.

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