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Toyota auto insurance: what you need to know.

So you’re in the market for a new car and you think a Toyota is the way to go? Solid choice. But before buying a new car, it’s important to consider the cost of insurance. Failing to do so might result in a (negative) surprise down the line.

Bottom line? If you don't factor in car insurance costs, car ownership can wind up costing you way more than you expected.

Insurance premiums can be determined by the age and safety of the vehicle itself, along with the characteristics of the driver, such as age, gender and driving record.

This page aims to shed some light on what your insurance premiums for your new Toyota could look like. One way to get the best price is to compare rates on LowestRates.ca, where we’ll do the heavy lifting by comparing rates from over 30 car insurance companies in just a few minutes. All you have to do is pick one.

Your questions about Toyota auto insurance rates, answered.

How much does car insurance cost for a Toyota?

A multitude of variables determine how much you pay for car insurance. The car model you choose is one of them.

We’ve run sample quotes for two of Toyota’s best-selling models so you can see at a glance how much you might end up paying. All prices are in Canadian dollars.

We also included findings from the Insurance Insurance Institute for Highway Safety (IIHS) and the National Highway Traffic Safety Administration (NHTSA) to give you a better sense of the safety rankings for each vehicle, as these can be significant when determining a vehicle’s insurance rates.

 

Toyota Corolla

Estimated Premium

Driver infoCar make + modelLowest premium quotedHighest premium quoted
Female, age 30, Ontario2020 Toyota Corolla L 4DR$142.42/month$450.33/month
Male, age 30, Ontario2020 Toyota Corolla L 4DR$145.92/month$468.33/month

About the Toyota Corolla

  • Four out of the last five editions of the Toyota Corolla 4-door sedan have been named Top Safety Picks by the IIHS.
  • The most recent model of the car was given good ratings across the board, with the exception of the headlights component in the crash avoidance and mitigation category, where it scored ratings ranging from 'acceptable' to 'marginal' depending on the trim.
  • The 2019 version of the Corolla sedan, which was not named a top safety pick, was given a rating of 'acceptable' in two categories: headlights under crash avoidance and mitigation and the ease of use of the latch under child seat anchors.
  • The Corolla hatchback, which was rated by the IIHS for the first time in 2019, was also named a Top Safety Pick.
  • The NHTSA awarded the Corolla four and five stars across the board, with the exception of the 2011 Toyota Corolla 4 DR FWD, which scored four stars in the frontal crash category, two stars in the side crash category and four stars in the rollover category.
  • The price of Canada’s most popular Toyota Corolla ranges anywhere between $18,990 to $28,490.

Toyota RAV4

Estimated premium

Driver infoCar make + modelLowest premium quotedHighest premium quoted
Female, age 30, Ontario2020 Toyota RAV4 LE 4DR AWD$124.92/month$397.92/month
Male, age 30, Ontario2020 Toyota RAV4 LE 4DR AWD$128.25/month$414.17/month

About the Toyota RAV4

  • The Toyota RAV4 has been selected as a Top Safety Pick by the IIHS every year since 2014. However, it’s important to note some issues with the 2014 model that were not rectified in more recent reviews of the vehicle.
  • These problems are often found in the crashworthiness category of the IIHS report, where the RAV4 was given a poor rating for the design of its overlap front on the driver side and the design of its overlap front on the passenger side.
  • While this issue was partially addressed in the 2015 edition of the model, the poor rating in the small overlap front on the passenger side remained, along with the addition of a marginal rating in the child seat anchors category.
  • In 2016, the poor rating of the small overlap front on the passenger side still remained, along with a marginal rating of the child seat anchors and an 'acceptable' to 'marginal' rating of the crash avoidance capabilities of the headlights.
  • Its ratings in these categories did not improve when the IIHS rated the RAV4 in 2018 and 2019.
  • The NHTSA awarded the RAV4 four or five stars across all categories with the exception of the 2011 model, which received three stars in the frontal crash category.
  • The Toyota RAV4 can be purchased for between $28,090 and $41,250 depending on the model and trim.

How auto insurance quotes for Toyotas are calculated

Beyond the car you drive, your personal driving history, age, gender, and postal code have a major impact on how much you pay each month for car insurance.

In order to generate quotes, we had to create user personas: one male and one female.

Here are the criteria we used:

  • We ran separate quotes for a 30-year-old man and a 30-year-old woman in Ontario.
  • We used the postal code for the LowestRates.ca office in midtown Toronto.
  • We chose the 2020 model for each car.
  • Our personas have been insured continuously since receiving their license.
  • They drive an average of 40 km per day.
  • We’ve only selected the bare minimum when it comes to insurance coverage (third-party liability insurance).
  • We didn’t apply for any discounts.
  • We indicated that the car has winter tires.
  • We also indicated that the car is parked in a private garage.

Other factors that influence your auto insurance rate

Beyond the vehicle you choose to buy, a number of other factors can influence your auto insurance premiums. 

  • Where you live - Location has the potential to impact your auto insurance premiums depending on the weather conditions in your region, whether your area has a high crime rate, or even whether you live in a rural area as opposed to an urban area.
  • Driver experience - Your age and level of driving experience is also a factor. For example, if you’re under the age of 25, you’ll likely pay a higher rate. In addition, the number of years you’ve had your license can also affect your rates.
  • Driving record - Any driving convictions or at-fault accidents that have taken place over the last six years may also impact your rates. The more driving convictions you have, especially those resulting in a driver’s license suspension, can result in higher rates. At-fault accidents have a similar effect, as insurers interpret collisions to mean you’re a higher risk to insure.
  • How much insurance you buy - If you decide to invest in coverage that exceeds the mandatory minimums, you will pay higher premiums. However, buying more coverage is often a good idea for if you buy a current year model. You can always downgrade your insurance package later on.  

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