Insuring your Toyota Corolla can be very affordable, but exact prices can depend on the year of your vehicle, the state where you live, your personal driving history, and the provider you choose. On average, insuring your Corolla only costs about $1,273 per year. Read on to learn more about the factors that affect Corolla insurance prices and to discover the insurance types you can get for your vehicle.
About the Toyota Corolla
Toyota Corollas are prized for both their affordability and their reliability. They’re compact cars that get great gas mileage, have many attractive safety features, and come in multiple body styles for ultimate customization. Many drivers enjoy these cars because they’re worry free and long lasting. Corollas are typically less expensive to insure because they’re a lower-value vehicle with relatively low repair costs. Compared to a higher-end car or luxury model, you can expect comparatively cheap rates on your Corolla.
What Type of Insurance To Get For Your Corolla
The type of insurance you choose to get for your Corolla can depend on how often you intend to drive your vehicle, your own driving confidence, and your budget. Typically, there are four primary car insurance types you can choose between. Here’s a closer look at the options:
Liability insurance is often the most basic insurance option you can get to remain in compliance with state laws. Liability helps you cover the cost of repairs to another vehicle if you get into an accident that’s your fault. Although liability insurance is often the cheapest insurance you can get for your vehicle, it won’t cover damages to your vehicle if you’re in an accident or if something happens. This can be a good Corolla insurance option if you don’t drive your Corolla very much or if you can’t currently budget for a more robust insurance option.
Collision insurance helps cover the cost of repairs to your car if you’re in an accident, regardless of whose fault the accident is. If you’re financing or leasing your car, your lender might require you to have collision insurance. Collision insurance can also help protect you if you damage your vehicle on something that isn’t another vehicle, like if you hit a fence or a tree. This might be the insurance level you choose if you’re paying off your vehicle and you want to meet your financing requirements or if you want additional protection for your Corolla.
Comprehensive insurance covers you against other adverse events outside of just accidents. For example, if a weather event damages your Corolla, your insurance could help you cover repair or replacement costs. This insurance type can be good if you live in an area that has lots of storms, fires, or hail. Even if you don’t live in an area prone to these types of weather events, comprehensive insurance can still offer you peace of mind.
Uninsured or underinsured motorist coverage
This last type of insurance is usually one you can add on to an existing policy. It helps you protect yourself from motorists who might not have insurance. This way, if you’re in an accident that isn’t your fault and the person who is at fault doesn’t have coverage, you can still get the repairs you need.
The Best Toyota Corolla Insurance Provider
The best Toyota Corolla insurance provider for you will depend on your needs, budget, and state. It’s important to consider more than just cost when choosing a provider to insure your Corolla. It’s also valuable to look at factors like customer satisfaction ratings and claims ratings. Considering these factors and others, USAA is the best insurance provider for Toyota Corollas. To qualify for USAA, you have to be a member of the military or have a family member in the military.
If you don’t qualify to become a USAA member, you can still get affordable rates and quality customer service from Geico. They rate almost as high as USAA in terms of affordability. Allied and State Farm are also often inexpensive insurance providers popular among drivers insuring their Toyota Corollas. Rates and offerings often differ by state, so it’s important to look at quotes from multiple providers when choosing the best insurance option for you.
What Factors Affect Corolla Insurance Prices?
Your rates may differ from the average insurance price. Here are some factors insurance companies consider when delivering a quote on car insurance:
The price of your insurance can differ depending on where you live. Those living in densely populated areas might pay more for insurance than those living in rural areas because their likelihood of being in a collision is often higher. Similarly, weather events in your area could affect your insurance quote.
Another thing most providers consider is your driving history. If you have an at-fault accident on your record, or insurance companies consider your driving high-risk, your rates might be higher. Strive to keep your driving record clean and obey posted speeding signs when you drive. Certain classes, like defensive driver courses, can help lower your insurance rates. DUIs can also cause an increase in insurance prices.
Drivers with poor credit might pay more for car insurance. Do your best to build your credit score by paying bills on time. By building good credit, you can often qualify for lower insurance rates.
Young or inexperienced drivers can also expect to pay more for car insurance. Teenagers and those new to driving might not yet have the skills to navigate the road safely. Often, providers offer discounts for good grades and safe driving.
The year of your car can also affect how much you pay for insurance. Older Corollas, like those manufactured before 2019, are often cheaper to insure. New cars might cost more to insure.
Having insurance on your Corolla is important for maintaining peace of mind and remaining compliant with laws and regulations. By comparing the prices of top providers in your state, you can find the option that works best for your budget and insurance needs.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.