Cost of Toyota Corolla Car Insurance (2024)

Toyota Corolla rates are higher than the national average, but you can still save by choosing the right insurance company.

Lindsay VanSomeren
Lindsay VanSomeren
  • 8 years in insurance and personal finance writing

  • Former data scientist for U.S. Geological Survey

Lindsay is a freelance personal finance writer currently pursuing her Series 65 license. She enjoys helping readers learn money management skills that improve their lives.

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Ashley Cox
Edited byAshley Cox
Headshot of Managing Editor Ashley Cox
Ashley CoxManaging Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

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Updated December 6, 2023 at 11:00 AM PST

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The humble Toyota Corolla is the most popular car in the world, with more than 1.12 million cars purchased worldwide in 2022 alone. These cars offer a good blend of value and reliability for the average family, and they’re priced similarly to other car models that haven’t been in production as long, such as the Hyundai Elantra.[1]

Despite being such an affordable option, Toyota Corolla auto insurance rates are a touch on the high side. The average Corolla owner pays a monthly premium of $110 for liability-only coverage and $219 for full-coverage insurance. That’s slightly higher than the national car insurance averages of $103 per month for liability coverage and $207 per month for full coverage.

Here’s what you should know about getting insurance for your Toyota Corolla.

Quick Facts
  • The cost of a new Toyota Corolla in 2023 ranges from $21,550 to $26,700.

  • The three car insurance companies offering the best rates for most Corolla owners are USAA, State Farm, and GEICO.

  • People with good credit history who live in areas with a low theft rate tend to get a better deal on car insurance costs.

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Cost of Toyota Corolla insurance

The average annual rate for car insurance for Toyota Corollas — all things considered — is $1,320 for liability-only coverage and $2,628 for full coverage.

If you’re associated with the military and qualify for USAA membership, this tends to be the cheapest option for most model years. Otherwise, State Farm and GEICO have the cheapest Toyota Corolla insurance rates.

2023 Toyota Corolla insurance

The MSRP for the 2023 Toyota Corolla ranges from $21,550 to $26,700, depending on the trim level. You can see the cheapest auto insurance quotes for new cars in the following table:

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$67$146
State Farm$76$161
GEICO$78$167
Allstate$91$200
American Family$113$255
Progressive$125$227
Liberty Mutual$130$255
Travelers$133$293
Farmers$155$345
The General$178$367
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2022 Toyota Corolla insurance

You could expect to spend between $20,425 and $28,710 on a new Toyota Corolla in 2022.[2] Insurify partner companies charge varying rates, as you can see in the following table:

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$59$128
State Farm$66$141
GEICO$68$146
Allstate$80$175
American Family$99$223
Progressive$110$198
Liberty Mutual$113$223
Travelers$116$256
Farmers$136$301
The General$155$321
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2021 Toyota Corolla insurance

The 2021 Toyota Corolla had a starting MSRP of $20,025 and ranged as high as $28,310 with higher-end trim levels.

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$57$124
State Farm$64$136
GEICO$66$141
Allstate$77$169
American Family$96$216
Progressive$106$192
Liberty Mutual$110$216
Travelers$112$247
Farmers$131$291
The General$150$310
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2020 Toyota Corolla insurance

The MSRP on a new Toyota Corolla in 2020 was between $19,600 and $24,050, depending on the trim package drivers selected.

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$56$123
State Farm$64$135
GEICO$65$140
Allstate$76$168
American Family$95$214
Progressive$105$190
Liberty Mutual$109$214
Travelers$111$245
Farmers$130$289
The General$149$308
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2019 Toyota Corolla insurance

Drivers paid an MSRP of $18,700 to $22,880 on a new Toyota Corolla in 2019.

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$54$119
State Farm$62$131
GEICO$63$136
Allstate$74$162
American Family$92$207
Progressive$102$184
Liberty Mutual$105$207
Travelers$108$237
Farmers$126$280
The General$144$298
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2018 Toyota Corolla insurance

A Toyota Corolla cost between $18,600 and $22,780 in 2018, depending on the specific trim package drivers selected.

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$50$108
State Farm$56$119
GEICO$57$124
Allstate$67$148
American Family$84$189
Progressive$93$168
Liberty Mutual$96$189
Travelers$98$216
Farmers$115$255
The General$131$272
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2017 Toyota Corolla insurance

The MSRP on a new 2017 Toyota Corolla varied by trim level and ranged between $18,500 and $22,680.

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$49$107
State Farm$56$118
GEICO$57$122
Allstate$67$146
American Family$83$186
Progressive$92$166
Liberty Mutual$95$186
Travelers$97$214
Farmers$113$252
The General$130$268
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2016 Toyota Corolla insurance

After the 2016 model year, Toyota slimmed down its package offerings, giving drivers a last chance at a wider range of trim levels, with MSRPs ranging from $17,300 to $23,125.

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$49$106
State Farm$55$117
GEICO$56$121
Allstate$66$145
American Family$82$185
Progressive$91$164
Liberty Mutual$94$185
Travelers$96$212
Farmers$112$249
The General$129$266
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2015 Toyota Corolla insurance

Drivers could choose trim packages with MSRPs ranging from $16,950 to $22,955 in 2015.

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$46$100
State Farm$52$110
GEICO$53$114
Allstate$62$137
American Family$78$175
Progressive$86$155
Liberty Mutual$89$175
Travelers$91$200
Farmers$106$236
The General$122$251
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

2014 Toyota Corolla insurance

Depending on the trim level, the total price of a new Toyota Corolla cost between $16,800 and $20,400 in 2014.

Insurance CompanyAverage Quote: Liability OnlyAverage Quote: Full Coverage
USAA$46$100
State Farm$52$110
GEICO$53$114
Allstate$62$136
American Family$77$174
Progressive$85$154
Liberty Mutual$88$174
Travelers$90$199
Farmers$106$235
The General$121$250
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

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Toyota Corolla car insurance coverages

You have several options to choose from when purchasing a car insurance policy. Some types of insurance are mandatory depending on which state you live in, while others are optional and offer additional protection for your car.

You can check out Insurify’s comprehensive guide for a full list of car insurance coverages, but here are some of the common options:

  • illustration card https://a.storyblok.com/f/162273/x/169fdfde11/liability-coverage.svg

    Liability coverage

    Required by most states, liability insurance helps pay for any medical bills or other damage you cause to other people (bodily injury liability coverage) or their property (property damage liability) in an accident.[3]

  • illustration card https://a.storyblok.com/f/162273/x/665da91bf7/comprehensive-coverage.svg

    Full coverage

    Most lenders require full coverage, which protects your vehicle against any damage that happens while you’re driving (collision coverage) or while your vehicle is stationary, such as a tree falling on your car (comprehensive coverage). Comprehensive coverage also protects against damage from hitting wildlife.

  • illustration card https://a.storyblok.com/f/162273/x/5285c4cd74/uninsured-or-underinsured-motorist-coverage.svg

    Uninsured/underinsured motorist coverage

    Uninsured/underinsured motorist coverage is required in some states and optional in others. It pays for your damage if you’re the victim of a hit-and-run driver or someone without insurance. It also applies if you’re hit by someone with coverage limits too low to pay for the full damage.

  • illustration card https://a.storyblok.com/f/162273/x/abffe6238f/financial-protection.svg

    Gap coverage

    Insurers calculate payouts based on the actual cash value of the car, which generally depreciates faster than your loan balance. If you total your car early on in your loan, you could be stuck with loan payments for a car you no longer own — unless you have gap insurance, which pays off the remaining loan balance in this scenario.[4]

  • illustration card https://a.storyblok.com/f/162273/100x100/9997698e9e/emergency-roadside-service.svg

    Roadside assistance coverage

    Toyota Corollas are known as hardy cars, but that doesn’t mean they can’t break down or that you won’t run into problems on the road — especially for older models. Roadside assistance is an affordable option most insurers offer that pays for short towing trips, extra fuel delivery if you run out, lockouts, and more.

Toyota Corolla car insurance FAQs

Whether you’re looking to insure a newer Toyota Corolla or an older model, here are answers to some questions many people ask their insurance agent when shopping around for insurance quotes.

  • Who has the cheapest Toyota Corolla insurance?

    The best insurance company for Toyota drivers is USAA, followed by State Farm and GEICO. Auto insurance rates can vary by many other different factors as well, such as your location, driving history, whether you have any teens to cover, which coverage options you select, and more.

  • Are Toyota Corollas expensive to insure?

    While it’s not the most expensive vehicle to insure, the average cost of a Toyota Corolla insurance policy is slightly higher than the national average. Nationwide, car insurance costs an average of $103 per month for liability coverage and $207 per month for full coverage.

  • How much does it cost to insure a Toyota Corolla?

    Drivers pay a monthly average of $110 for liability-only coverage and $219 for liability-only full coverage to insure a Toyota Corolla. Aside from the safety features on your Corolla, other major factors affecting your insurance rates include your driving record, age, and ZIP code. Young drivers may pay much higher rates for car insurance, for example.

  • How much is car insurance for a 2023 Toyota Corolla?

    The average 2023 Toyota Corolla car insurance rates range from $67 to $367, depending on the insurance company you select and whether you purchase a liability-only policy or a full-coverage policy. It’s a good idea to shop around and get quotes from multiple companies to find the best coverage.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Kelley Blue Book. "2023 Toyota Corolla." Accessed October 23, 2023
  2. Cars.com. "2022 Toyota Corolla." Accessed October 23, 2023
  3. National Association of Insurance Commissioners. "Consumer Shopping Tool for Auto Insurance." Accessed October 23, 2023
  4. Insurance Information Institute. "What is gap insurance?." Accessed October 23, 2023
Lindsay VanSomeren
Lindsay VanSomeren

Lindsay VanSomeren is a freelance personal finance writer living in Suquamish, WA. Her work has appeared with FICO, Credit Karma, The Balance, and more. She enjoys helping people learn how to manage their money better so they can live the life they want.

Ashley Cox
Edited byAshley CoxManaging Editor
Headshot of Managing Editor Ashley Cox
Ashley CoxManaging Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

Featured in

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