Toyota vs. Chevy: Car Insurance Rates

Comparing Toyota vs Chevy car insurance rates shows a difference of only $5/mo in the US. Comparing Toyota and Chevy car insurance rates is hard because their cars are so different.

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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: Jun 30, 2020

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Here's what you need to know...

  • Unfortunately, there is no way to do an apples-to-apples comparison of Toyota vehicles versus Chevy vehicles
  • Remember that one of the easiest ways to keep your car insurance costs down is by accepting a larger deductible for your vehicle
  • There are many other ways that you can save money on your insurance

Both Toyota and Chevy cars and trucks have had quite an impact on the public, with these two companies selling hundreds of thousands of vehicles every year.

When you are in the market for a new vehicle, however, you should also consider the insurance that you are going to pay in your budget. It is important to know what the cheapest vehicles are to insure.

The truth is that Chevy vehicles aren’t a favorite on any list when it comes to the most affordable vehicles to insure.

  • In some cases, it is because their prices are higher.
  • In other cases, it is because they don’t provide the same safety features as other vehicles in their class.

The bottom line is that if insurance cost is going to be a deal breaker, then you may need to look to a Toyota versus a Chevy.

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The Truth About Insurance Prices for Toyota vs. Chevy

Just because Chevy vehicles aren’t listed as the cheapest vehicles to insure in U.S., that doesn’t mean that they aren’t going to be the cheapest vehicles for your own insurance policy.

You see, car insurance companies look at more than just the type of car that you are buying to determine how much you are going to pay for your insurance.

Unfortunately, there is no way to do an apples-to-apples comparison of Toyota vehicles versus Chevy vehicles.

They just aren’t the same thing. Even vehicles in the same class, such as sedans or trucks, are too different to make a direct comparison.

A great example of this is Chevy trucks versus Toyota trucks. There is no getting around the fact that Chevy trucks are far more popular than trucks made by Toyota. What’s more, Chevy trucks are far more expensive because they are heavy-duty vehicles meant to do tough jobs.

As such, your insurance for a Chevy truck is going to be more than it would be for a Toyota truck. Because they aren’t even remotely the same vehicles, there is no way to make a fair comparison between them.

In fact, the Toyota Tundra is the only big truck offered by Toyota and, according to J.D. Power & Associates, it doesn’t even come close in comparison to the Chevy Avalanche in terms of safety or performance.

Although these two vehicles are in the same price category, it is possible that you will pay less for your Chevy insurance simply because the Avalanche has higher safety ratings than the Tundra. Again, because these vehicles are quite a bit different, a direct comparison is difficult.

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Enter your ZIP code below to view companies that have cheap car insurance rates.

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Toyota vs. Chevy Vehicles: Keeping Your Insurance Costs Down

You may not know this, but the Toyota Sienna was rated one of the least expensive vehicles to insure in the U.S. according to IntelliChoice. However, that doesn’t mean that you can’t save money on other vehicles that you are interested in buying.

One of the easiest ways to keep your car insurance costs down is by accepting a larger deductible for your vehicle.

Many people opt for a $250 deductible because it is so easy to come up with that small amount if you have to pay a deductible after an accident. However, a $500 deductible can reduce your costs by up to 40 percent, which can be significant savings.

Of course, you can choose an even higher deductible of $1,000, but you need to remember that if you cause an accident and you have damage to your vehicle, that $1,000 is the amount that you pay out-of-pocket towards your damages.

If you know you can’t afford that much, but you can pay a little more towards your premiums, then keep your deductible lower!

There are many other ways that you can save money on your insurance, from taking advantage of available discounts to remaining a loyal customer. The key is talking to your agent and ensuring that you are getting all of the discounts for which you qualify.

Before You Buy: Comparing Prices for Toyota vs. Chevy Car Insurance

The good news is that you don’t need an average price for Toyota versus Chevy car insurance. You can compare car insurance rates without even owning a car. All you need is to know the make and the model of the car(s) that you are interested in buying.

Once you see what car offers the most affordable rate or a rate within you budget, you can move forward from there.

Enter your ZIP code below to compare car insurance rates right now!

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