Toyota Camry Insurance: Key Factors Driving Your Rates in 2025

Since 1983, the Camry has been a staple in American garages, with a solid reputation for reliability. Today, finding a Toyota Camry insurance policy is as easy as tapping on your phone.

However, there are a lot of factors affecting insurance cost for a Toyota Camry that many drivers may not be aware of. We are going to break these factors down, and see how they can impact your pocket book.

First, let’s talk about the average cost to insure a 2024 Camry, and how that rate is impacted by two factors that cause massive rate changes: your age and your deductible.

Then we will break down rates by trim level and cover what you can expect when insuring older Camry models. The Camry is a popular car for younger drivers, so we also discuss not only rates but also whether this midsize sedan is a safe car for teenagers.

We’ll also touch on ten of the larger discounts available from most companies, so if affordable insurance for a Toyota Camry is your top priority, you’ll definitely want to catch that section.

Two Big Factors: Driver Age and Policy Deductibles

Toyota Camry insurance costs an average of $2,516 per year for a full-coverage policy on a 2024 model. Do the math and that’s $1,258 for a 6-month policy, or around $210 per month for full coverage.

Over the last couple of years, car insurance has skyrocketed. And the Camry definitely didn’t escape this trend.

When we talk about an “average” rate, we make a lot of assumptions. Among other things, this includes assuming a 40-year-old driver with a policy that has $500 comprehensive and collision coverage deductibles.

You probably don’t fit the exact profile of our average driver, so you need to consider factors like your age and your policy deductible amount when looking at the cost of insurance.

The infographic below shows the average cost of insurance on a Toyota Camry for drivers aged 20 to 60 and also for three policy deductible levels. Higher deductibles lower your car insurance bill, while lower deductibles increase the cost.

Getting older has its perks when buying an auto insurance policy. More mature drivers tend to have fewer at-fault accidents, better credit ratings, and better driving records. All these factors result in lower insurance rates.

Younger drivers pay much higher insurance rates on a Camry. At $5,068 per year (for a $500 deductible policy), the 20-year-old driver in the graphic above pays $2,552 more per year than the 40-year-old driver.

That’s a huge difference! So let’s take a look at exactly WHY car insurance rates vary so much depending on your age.

Why Driver Age Affects Car Insurance Cost

In general, younger drivers pay more when insuring any model year of Camry. Why is that?

• Lack of Experience: Younger drivers, especially under 25 years old, are considered high-risk because they lack driving experience. This higher risk translates to higher premiums.
• Accident Statistics: On the whole, younger drivers are more likely to get into accidents. Due to this higher risk of causing an accident and having a claim, younger drivers pay higher rates.
• Behavioral Factors: Younger drivers are likely to show riskier driving behaviors, which contribute to the higher possibility of filing claims. With age comes a tendency to do less “stupid” things behind the wheel, so rates tend to decline for more mature drivers.

That all makes perfect sense, right? Young drivers can be pretty careless drivers. Friends, phones, radios, and bright shiny things all contribute to less attention on the road. And less attention means more bad things can happen.

On the other hand, older drivers usually enjoy lower car insurance rates. As drivers get older, they typically gain more experience and are less likely to drive carelessly or cause claims.

For the most part, older drivers enjoy:

• Better Driving Records: With time, drivers build a history that can be used by insurers to predict future behavior. Clean records help reduce the rates.
• Better Credit Scores: Mature drivers mostly have better credit scores, which most insurers factor into the rate. Not all states use credit scores when setting their rates, so this may not apply to your specific situation.
• Fewer Claims: Older drivers tend to file fewer claims, bringing down the overall risk to the insurers. With age comes the realization that claims tend to raise rates, and older drivers tend to be more financially stable and can foot the bill for smaller claims out-of-pocket.

Again, this is pretty common sense stuff. As we age, we generally become better drivers, up to a point. Once we age a little too much, rates start trending upward again. That generally happens around age 65 or so.

Driver age and policy deductibles are not the only factors that determine the price you pay. Another big factor is the exact trim level of Camry you drive.

This next section breaks down insurance rates for each Camry model so can see how splurging on the top-level trim not only costs you more at the dealership, but also every time you pay your car insurance bill.

How the Trim Level of Your Camry Impacts Insurance Rates

The Toyota Camry has always offered quite a few different trims to choose from. And options are not a bad thing when it comes to forking out an average of nearly $31,600 for a new car.

Why would it cost more or less to insure it just because it’s an XSE, XLE or Hybrid model?

The more options and accessories you have on your Camry, the higher the sticker price will be. With a higher sticker price comes a more expensive replacement cost.

Here’s a scenario to explain replacement cost

If you drive your new Camry LE right off the dealer lot and into a pond, your insurance company will be on the hook for about $26,420 less your deductible.

That’s as long as you either told your insurance company you bought a new car and you need full coverage, or you already have another vehicle on the policy with full coverage. That’s called “newly acquired” coverage and it allows you to have coverage (for a limited time) even though you didn’t specifically tell your company yet that you bought a new car.

However, if you opted for the XSE AWD model and gave that one a bath, then your company now has to cover $33,120 minus your deductible.

That’s a difference of $6,700. That’s why more expensive trim levels cost more to insure.

Anything, and I mean the most minute and obscure thing, that can potentially cause your insurer to pay more money at claim time will absolutely result in you paying a higher car insurance rate.

Camry Insurance Rates from LE to XSE AWD

The Camry with the cheapest car insurance rates is the base LE trim level costing an average of $2,316 per year. The next cheapest model is the SE at $2,376, and coming in third is the LE Hybrid at $2,412 per year.

As we explained above in our little swimming scenario, as the cost of a vehicle increases, so does the cost of car insurance. The 2024 Camry is no exception, as the pricier XSE AWD and XLE AWD models cost the most to insure.

The table below shows the average car insurance cost for all trim levels available for the 2024 Toyota Camry, including a monthly rate if you like to budget.

In the data shown in the table, we are making the same assumption as before using a 40-year-old driver, full coverage, and a $500 deductible.

With this many trim levels available for the 2024 Camry, it’s really pretty important that you get insurance quotes for your specific model. A price difference of $330 between the cheapest and most expensive insurance rates on Camry models makes your trim level an important factor.

To really get a feel for how variable rates can be based on more factors like where you live, whether you’re single or married, and your driving record, check out our Toyota Camry insurance calculator.

Camry Insurance Cost vs. Other Vehicles

When comparing the $2,516 annual cost of insuring a Toyota Camry to all other midsize cars (excluding luxury cars), the 2024 Camry ranks ninth out of 11 vehicles for car insurance affordability.

The average cost of insurance for the entire 2024 midsize sedan segment is $2,389 per year, which means a Camry costs on average $127 more per year to insure.

When compared to the Camry’s two primary competitors, the Honda Accord and the Nissan Altima, insurance on a Camry averages $254 more per year than the Accord and $22 less per year than the Altima.

The table below breaks out all average car insurance rates for the 2024 midsize sedan segment and shows the Camry ranked in ninth place overall.

The Difference column in the table above shows how much higher or lower the average insurance cost is for each model when compared to the Camry. Green values indicate a cheaper average cost, while red values indicate the model costs more to insure than the Camry.

Comparing Toyota Camry insurance premiums to midsize non-luxury car models with similar average MSRP can provide another useful insight.

For the 2024 model year, the average dealer price on a Camry is $31,506, before destination charges and documentation fees.

The four models closest in average price to the Camry are the Subaru Legacy, Hyundai Sonata, Honda Accord, and Nissan Altima.

The list below shows how those models compare to the Toyota Camry by both purchase price and car insurance cost.

• Toyota Camry vs. Subaru Legacy – Having an average price of $31,345 ($24,895 to $38,195), the Subaru Legacy costs $161 less than the average MSRP for the Camry. Insuring the Subaru Legacy costs an average of $204 less per year than the Toyota Camry.
• Toyota Camry vs. Hyundai Sonata – Having an average sticker price of $32,000 ($26,000 to $37,000), the 2024 Hyundai Sonata costs $494 more than the average MSRP for the Camry. Insuring a 2024 Camry compared to the Hyundai Sonata costs an average of $144 more per year.
• Toyota Camry vs. Honda Accord – The 2024 Honda Accord has an average sticker price of $32,934, ranging from $27,895 to $38,540, which is $1,428 more expensive than the average cost of the Camry. The average insurance cost for a 2024 Toyota Camry compared to the Honda Accord is $254 more each year.
• Toyota Camry vs. Nissan Altima – The Nissan Altima has an average MSRP of $29,930 ($25,730 to $35,430), which is $1,576 cheaper than the Camry. The cost to insure a Toyota Camry compared to the Nissan Altima is $22 less each year on average.

View additional car insurance cost comparisons for the Toyota Camry.

How Model Year Affects Insurance Rates

Insurance cost is often a consideration if you’re deciding between buying a new or used model.

As a general rule, insurance cost for a used Toyota Camry is going to be less than a new model. However, there can be exceptions to this rule, such as when a vehicle manufacturer makes significant improvements to a vehicle’s crash prevention or accident avoidance technologies.

When a newer model comes out with better features than keep occupants safer in an accident, or prevent accidents in the first place, the newer model can actually be cheaper to insure than a model that is a year or two older.

The following table details the average cost to insure a Toyota Camry back to the 2013 model year. Annual rates are shown for drivers aged 20, 40, and 60. Linked models have detailed cost analyses available for that specific model year.

This table clearly shows how rates drop significantly not only for older model Camrys, but also for older drivers. As your car gets older, or as you get older, you can expect to see cheaper rates.

Insurance Rates for Young Camry Drivers

The Camry has always been a popular choice for teenagers. Its affordable price and decent safety ratings make it one of the better options for younger drivers.

If you have a newly-licensed driver that you’re adding to your policy, brace yourself for a pretty large premium. Teenagers are by far the most expensive age group to insure.

The chart below breaks down insurance rates for drivers aged 16 to 19 on a 2024 Camry.

There probably are not too many 16-year-old drivers cruising around in a new 2024 Camry, so let’s take a look at some alternatives that can help you find cheaper insurance.

Older Camrys are probably the better option for new drivers, as they have already taken a significant depreciation hit so physical damage coverage (comprehensive and collision) will be cheaper.

However, it’s liability insurance that is primarily responsible for the high insurance rates for teen drivers.

The chart below shows average insurance rates for a 2013 Camry, both for full-coverage insurance and liability-only insurance. Dropping full coverage on an older model is a good way to reduce the cost of car insurance.

There are a couple of things to note about the data shown in the chart.

First, since we are insuring a 2013 Toyota Camry instead of a new 2024 model, the cost for full coverage is significantly less. The cost for a 16-year-old male driver has decreased from $8,874 on the 2024 model (prior chart) down to $5,146 for the 2013 model.

If we drop full coverage and only insure with liability insurance, the rate decreases by another $2,337 per year.

This is assuming a decent level of liability coverage, which for our example is a split limit of 100/300/100, which means $100,000 of bodily injury liability coverage per person, $300,000 of bodily injury liability coverage per accident, and $100,000 of property damage liability coverage.

If you choose to insure with lower liability limits, like just your state’s minimum mandated liability coverage, then the liability-only rate will be significantly cheaper.

Safety Comes First: Is the Camry a Safe Vehicle for Your Teen?

As a parent, one of my primary concerns when choosing a car for my teenage kids is the safety afforded by the vehicle.

The Toyota Camry has always ranked well for occupant safety, and it was my choice of vehicle for both my teenage sons.

There are two primary organizations that perform vehicle crash test ratings. One is the Insurance Institute for Highway Safety and the other is the National Highway Traffic Safety Administration.

Here is a summary of the IIHS safety ratings for the 2013 to 2024 Toyota Camry model years. Click any model year to view Toyota Camry crash test ratings on the IIHS website.

The Camry’s reputation for safety is definitely reinforced by the IIHS data. Testing standards were changed slightly starting in 2022 when IIHS added an updated Moderate Overlap test using a second test dummy in the backseat representing a small woman or average 12-year-old child.

The table data for the Moderate Overlap test reflect the scores for the original test, which only use a test dummy in the driver sear. For the updated Moderate Overlap test using the additional back seat dummy, the 2023 and 2024 Camry models earned a “Marginal” rating.

The 2024 Camry was edged out by the Honda Accord and Hyundai Ioniq 6 for the Top Safety Pick+ designation for that model year.

Discounts? Yes Please!

We’ve talked enough about the cost of Camry insurance, let’s shift gears and talk a little about some of the ways you can SAVE money.

Toyota Camry insurance discounts are an excellent way to reduce the price of coverage. Every car insurance company offers discounts, but each offers a slightly different selection of discounts you can qualify for.

Many discounts are automatically applied, like if you already have a homeowner’s insurance policy with the same company then you’ll automatically receive a bundling discount.

But some require your input so that your agent or company are aware of your qualification and can apply the discount. Examples of this are your occupation, any professional organizations you may belong to, if you’ve had driver training, if you have a good student on your policy, and things of that nature.

Many insurance companies offer discounts if you are over a certain age and take a defensive driving course. The savings can range from five to ten percent, which is $126 to $252 per year for a 2024 Toyota Camry.

The best thing you can proactively do to ensure you’re receiving all the discounts you’re entitled to is to simply contact your agent or company and ask specifically about the discounts available.

We assembled the top ten best policy discounts to check for in the table below. We also listed the larger car insurers in the U.S. who offer each discount, along with the average savings you could receive when insuring a 2024 Toyota Camry.

One important caveat that we want to point out about discounts is that insurance companies don’t allow you to just keep stacking discounts. There is a limit to the amount that discounts will save you.

However, even if you qualify for just a couple of the discounts shown in the table, you could easily be reducing your annual insurance cost by a few hundred bucks.

During his career as an independent insurance agent, Ryan Grabenstein was appointed with Progressive, Allstate, Nationwide, Travelers, and many smaller regional and mutual companies. He has a Bachelor's degree in Finance from the University of Nebraska at Lincoln and Certified Insurance Counselor (CIC) personal and commercial lines training.