As one of the largest auto manufacturers in the world, Toyota offers some of the most popular U.S. vehicles like the RAV4 compact SUV, the Tacoma midsize pickup, and the Camry, which is the most popular midsize car in America.
Incorporated in 1937, Toyota’s first product was the Type A engine along with it’s first car, the Toyota AA. Today, Toyota produces vehicles under five difference brands: Daihatsu, Hino, Lexus, Ranz, and of course, Toyota.
With a reputation for quality and economy, we wanted to see how Toyota stacks up against other automakers for average car insurance cost.
How much does Toyota insurance cost?
Average 2023 model year Toyota car insurance rates range from $1,634 a year for the Toyota Corolla Cross up to $2,248 per year for the Toyota Mirai. The average cost of insurance per year when averaged for all 2023 Toyota models is $1,830.
The average car insurance rate in America is $1,728 per year, which means the average cost to insure Toyota models is only $102 more than average per year.
Toyota produces a large number of different models, everything from the compact Corolla to the performance GR86 and GR Supra, to the powerful Tundra. The table below lists each model produced since the 2013 model year and the average annual and monthly insurance cost for each.
|Model||Annual Cost||Monthly Cost|
|Toyota 86 2021 and prior model years||$1,974||$165|
|Toyota Avalon 2022 and prior model years||$1,786||$149|
|Toyota C-HR 2022 and prior model years||$1,404||$117|
|Toyota Corolla Cross||$1,634||$136|
|Toyota FJ Cruiser 2014 and prior model years||$1,146||$96|
|Toyota GR Corolla||$2,058||$172|
|Toyota GR Supra||$2,066||$172|
|Toyota Land Cruiser 2021 and prior model years||$2,122||$177|
|Toyota Matrix 2013 and prior model years||$946||$79|
|Toyota Supra 2021 and prior model years||$1,890||$158|
|Toyota Yaris 2020 and prior model years||$1,426||$119|
|Toyota Yaris IA 2017 and prior model years||$1,262||$105|
Is Toyota car insurance expensive?
When compared to its two primary competitors, Honda and Nissan, Toyota insurance rates are 10% more expensive per year than Honda and 3.1% more expensive than Nissan.
Mazda and Subaru are two other Japanese automakers, and when compared to those two brands, Toyota insurance is 11.1% more expensive per year than Mazda and 9.7% more expensive per year than Subaru.
Jumping over to the Korean peninsula give us Hyundai and Kia as competitors. Compared to those two automakers, Toyota insurance rates are 3.4% more expensive per year than Hyundai and 4% more expensive per year than Kia.
The chart below shows the entire comparison between Toyota and its Asian rivals and the average cost of car insurance for each.
The next table has a more comprehensive comparison, as it compared Toyota not only to other Asian non-luxury brands, but also to U.S., Asian, German, and Swedish non-luxury and luxury brands.
Red values in the difference column mean that particular brand has more expensive average insurance rates than Toyota. If the value is green, the brand is cheaper to insure than Toyota.
|Automotive Brand||Insurance Cost||Difference|
Toyota fares pretty well in the comparison table, as there are more red values than green. It is definitely cheaper to insure a Toyota than any luxury brand, but the results for non-luxury brands is lackluster.
Some of the explanation of Toyota’s higher insurance rates is that they manufacture not only cars and SUVs, but also pickup trucks and sports cars, which are more expensive to insure.
Models like the Tundra, Mirai, GR Supra, and GR86 all cost a little more to insure, which pulls the overall Toyota average up.
Brands like Kia and Mazda do not have these types of vehicles in their lineups, so it would be expected that they have lower average rates.
What is the cheapest Toyota insurance?
The cheapest Toyota insurance for 2023 is on the Toyota Corolla Cross, which is a small SUV with an average insurance cost of $1,634 per year. The second cheapest Toyota to insure is the Toyota Venza, costing $1,650 per year.
The top five cheapest Toyota models to insure are listed below.
Cheapest Toyota vehicles to insure for 2023
- Toyota Corolla Cross – (small SUV) Average insurance cost of $1,634 per year
- Toyota Venza – (midsize SUV) Average insurance cost of $1,650 per year
- Toyota Tacoma – (midsize truck) Average insurance cost of $1,658 per year
- Toyota RAV4 – (small SUV) Average insurance cost of $1,676 per year
- Toyota 4Runner – (midsize SUV) Average insurance cost of $1,696 per year
Which Toyota models have expensive insurance?
The most expensive Toyota model to insure for the 2023 model year is the Toyota Mirai at $2,248 per year, or around $187 per month. The Toyota GR86 ranks second most expensive at $2,092 per year.
Most expensive Toyota vehicles to insure for 2023
- Toyota Mirai – (small car) Average insurance cost of $2,248 per year
- Toyota GR86 – (sports car) Average insurance cost of $2,092 per year
- Toyota GR Supra – (sports car) Average insurance cost of $2,066 per year
- Toyota GR Corolla – (small car) Average insurance cost of $2,058 per year
- Toyota Tundra – (large truck) Average insurance cost of $1,904 per year