When shopping for a new car, many buyers focus on the sticker price, fuel efficiency, or performance. But one of the most important ongoing costs to consider is auto insurance. Toyota Models, known for producing reliable, safe, and affordable vehicles, offers models that are often cheaper to insure compared to competitors.
However, not all Toyota models come with the same insurance premiums. So, which Toyota model is the cheapest to insure? Let’s break down and compare the insurance costs of several popular Toyota models.
Factors That Influence Toyota Insurance Rates
Before diving into specific models, it’s important to understand what factors determine how much you’ll pay for car insurance:
- Safety Ratings: Vehicles with higher safety ratings are often cheaper to insure because they reduce the risk of injury and costly claims.
- Repair Costs: Cars that are less expensive to repair tend to have lower insurance premiums. Toyota models are generally affordable to repair, which helps keep insurance costs down.
- Vehicle Size and Class: Sedans and compact cars are typically cheaper to insure than larger vehicles like SUVs or trucks.
- Driver Demographics: Your age, driving record, and where you live all play a role in your insurance premiums. However, the car you choose still has a big impact.
Now, let’s compare the most popular models to see which ones are the most affordable to insure.
1. Toyota Corolla
The Toyota Corolla is one of the most popular compact cars globally, and it also tops the list as one of the cheapest Toyota models to insure. The Corolla’s combination of affordability, reliability, and excellent safety ratings make it a favorite among both drivers and insurers.
Why It’s the Cheapest:
- High Safety Ratings: The Corolla consistently earns high marks in crash tests from the IIHS and NHTSA.
- Toyota Safety Sense (TSS): Standard on all Corolla models, TSS includes features like pre-collision systems, lane departure alerts, and adaptive cruise control, reducing the likelihood of accidents.
- Affordable Repair Costs: The Corolla is known for its durability, and replacement parts are widely available and affordable.
Average Annual Insurance Cost: $1,200 – $1,400
2. Toyota Camry
The Toyota Camry, one of the best-selling midsize sedans, is another model with relatively low insurance costs. While it’s slightly more expensive to insure than the Corolla due to its size and higher value, it still ranks as one of the most affordable midsize sedans to insure.
Why It’s Affordable:
- Comprehensive Safety Features: Equipped with Toyota Safety Sense 2.5+, the Camry offers advanced features like pedestrian detection and road sign assist, which help prevent accidents.
- Reliability: The Camry has a strong reputation for longevity and low repair costs, which helps keep insurance premiums manageable.
- Family-Friendly Appeal: The Camry’s reputation as a family car often results in lower insurance rates compared to sports sedans or luxury cars.
Average Annual Insurance Cost: $1,300 – $1,500
3. Toyota Prius
For drivers seeking a hybrid option, the Toyota Prius is one of the most affordable hybrids to insure. Known for its fuel efficiency and eco-friendly design, the Prius often comes with lower premiums because hybrid drivers tend to be seen as cautious and lower risk by insurers.
Why It’s Affordable:
- Low-Risk Profile: Prius drivers are typically cautious and log fewer miles, which reduces the risk of accidents.
- Hybrid Discounts: Many insurance companies offer discounts for hybrid or eco-friendly vehicles, further reducing the cost of insuring a Prius.
- Excellent Safety Features: The Prius is equipped with Toyota Safety Sense and regularly earns top safety ratings.
Average Annual Insurance Cost: $1,200 – $1,400
4. Toyota RAV4
As one of Toyota’s best-selling compact SUVs, the Toyota RAV4 combines practicality with affordability. While it’s slightly more expensive to insure than smaller sedans like the Corolla or Prius, the RAV4 remains an insurance-friendly car option in the SUV category.
Why It’s Affordable:
- Top Safety Ratings: The RAV4 regularly earns top safety scores, thanks to its robust safety features like adaptive cruise control and lane-keeping assist.
- Lower Theft Rates: SUVs like the RAV4 tend to have lower theft rates, which keeps comprehensive insurance costs down.
- Hybrid Options: For those looking to save on fuel, the RAV4 Hybrid often qualifies for hybrid discounts with insurers.
Average Annual Insurance Cost: $1,300 – $1,600
5. Toyota Highlander
For families in need of a larger SUV, the Toyota Highlander is a popular choice. While it’s more expensive to insure than compact cars or small SUVs, the Highlander’s safety features and strong reliability help keep premiums relatively low for a midsize SUV.
Why It’s Affordable:
- Family-Safety Features: The Highlander comes equipped with a suite of safety technologies, including blind-spot monitoring, rear cross-traffic alert, and automatic emergency braking, which reduce the risk of accidents.
- Reliability and Durability: Known for its long lifespan and affordable repair costs, the Highlander is less expensive to insure compared to other midsize SUVs in its class.
- Hybrid Model Available: The Highlander Hybrid qualifies for eco-friendly discounts, helping to lower insurance premiums.
Average Annual Insurance Cost: $1,400 – $1,700
6. Toyota Yaris
The Toyota Yaris, a subcompact car, is often one of the cheapest Toyota models to insure. While it’s not as popular as the Corolla or Camry, it remains a solid choice for budget-conscious drivers who want low premiums.
Why It’s Affordable:
- Small Size: Subcompact cars like the Yaris tend to be cheaper to insure due to their lower repair costs and smaller size, which means less damage in the event of an accident.
- Low Theft Rates: The Yaris is less likely to be targeted for theft, which helps lower comprehensive insurance costs.
- Simple Design: With fewer high-end or performance features, the Yaris is seen as less risky by insurers.
Average Annual Insurance Cost: $1,100 – $1,300
Conclusion: Which Toyota Model Is the Cheapest to Insure?
The Toyota Corolla generally holds the title as the cheapest Toyota model to insure, thanks to its high safety ratings, reliability, and low repair costs. However, for drivers looking for a hybrid option, the Toyota Prius also offers affordable insurance rates due to its eco-friendly nature and low-risk driver profile.
Ultimately, the exact cost of insuring your Toyota will depend on factors like your driving record, location, and insurance provider. But whether you choose a Corolla, Camry, Prius, or RAV4, Toyota’s commitment to safety and reliability makes any of these models a smart choice for keeping your insurance premiums affordable.