Toyota Corolla Insurance Cost for 2022

How much does Toyota Corolla insurance cost? We compare the iM SE hatchback up to the XSE sedan to see how car insurance rates rank against other compact cars.

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How much does Toyota Corolla insurance cost?

Toyota Corolla car insurance costs an average of $1,486 a year for a full coverage policy, which is about $124 a month. Corolla insurance costs 4.2% less than the national average car insurance rate of $1,551 per year.

Depending on the Corolla trim level being insured, monthly payments for a 2022 Toyota Corolla range from $118 to $130, with the L being cheapest and the XSE Apex Edition costing the most to insure.

For individual policy coverages, collision insurance will cost about $474 a year, liability and medical coverage will cost about $658, and the remaining comprehensive (or other-than-collision) coverage is around $354.

The following chart illustrates how average Corolla car insurance rates change depending on the age of the driver and the policy deductibles.

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Chart Data Details: Chart shows average insurance cost for a 2022 Toyota Corolla with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all Toyota Corolla trim levels.Data last updated on April 14, 2022
Toyota Corolla Car Insurance Rates
Toyota Corolla Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$2,562$214
$500$2,918$243
$250$3,292$274
30$1,000$1,338$112
$500$1,544$129
$250$1,758$147
40$1,000$1,296$108
$500$1,486$124
$250$1,680$140
50$1,000$1,186$99
$500$1,356$113
$250$1,530$128
60$1,000$1,162$97
$500$1,328$111
$250$1,500$125

The chart above shows a very limited set of insurance rates for a 2022 Corolla, because If we included all rates for every conceivable data combination, including all 12 Corolla trim levels and all 41,692 zip codes in the U.S., the chart would have approximately 1,161,216,000,000 posible rates. Not kidding.

In addition to that flabbergasting number, consider that a liability-only policy for a Toyota Corolla in the cheapest areas of Wisconsin or Ohio may cost as little as $210 a year, while a 16-year-old driver with a few tickets in New York, NY, could get a bill for $14,214 a year for a policy with full coverage.

That’s some serious variability to wrap your head around. Here are some additional data insights as they relate to Toyota Corolla insurance cost.

  • Careless drivers spend more for insurance. At-fault accidents raise insurance rates, as much as $2,054 per year for a 20-year-old driver and even as much as $460 per year for a 60-year-old driver.
  • Raising physical damage deductibles lowers cost. Jacking up your deductibles from $500 to $1,000 could save around $190 per year for a 40-year-old driver and $356 per year for a 20-year-old driver.
  • Low physical damage deductibles may be wasting money. Decreasing your policy deductibles from $500 to $250 could cost an additional $194 per year for a 40-year-old driver and $374 per year for a 20-year-old driver.
  • Obey driving laws to save money. To get the cheapest Corolla insurance rates, it pays to not be aggressive behind the wheel. Not surprisingly, just a couple of minor blemishes on your driving record have the potential to increase the cost of a policy by as much as $390 per year.
  • High risk insurance is expensive. For a 20-year-old driver, having too many accidents or violations can potentially increase rates by $2,262 or more per year. That’s some serious coin. In latte-speak, that’s the equivalent to just under 400 lattes that you’ll have to spend just because you’re careless behind the wheel.
  • Good credit can save money. Having a high credit rating of over 800 could see savings of $233 per year over a credit rating of 670-739. Conversely, a lesser credit rating could cost around $270 more per year.

What is the cheapest Toyota Corolla insurance?

The cheapest trim level of Toyota Corolla to insure is the L costing an average of $1,416 per year, or about $118 per month. The second cheapest Corolla to insure LE at $1,426 per year.

For the pricier trim levels, the three most expensive Corolla trim levels to insure are the Toyota Corolla SE Apex Edition, the XSE, and the XSE Apex Edition trim levels averaging from $1,516 to $1,558 per year.

The table below details average Corolla car insurance rates, in addition to a monthly budget figure, for each 2022 model year trim level.

2022 Toyota Corolla Insurance Cost by Trim Level
Toyota Corolla Trim Level Annual Policy 6-month Policy Per Month
L$1,416$708$118
LE$1,426$713$119
SE Hatchback$1,458$729$122
SE$1,468$734$122
SE Nightshade Edition Hatchback$1,476$738$123
SE Nightshade Edition$1,482$741$124
LE Hybrid$1,490$745$124
XLE$1,502$751$125
XSE Hatchback$1,510$755$126
SE Apex Edition$1,516$758$126
XSE$1,526$763$127
XSE Apex Edition$1,558$779$130

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2022 Toyota Corolla, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on March 13, 2022
Toyota Corolla Insurance Cost by Trim Level

If you noticed a trend in the table above, the Corolla models that cost the most also cost the most to insure. As you add packages and options to any vehicle, it drives up the MSRP or purchase price. And it’s almost guaranteed that a more expensive model will cost more to insure than a lower-cost model.

How does Corolla car insurance cost rank?

The Toyota Corolla ranks #6 out of 20 comparison vehicles in the 2022 compact car segment. The Corolla costs an average of $1,486 per year for full coverage insurance, while the category median rate is $1,557 per year, a difference of $71 per year.

Insuring a Corolla costs $12 less per year than the Honda Civic, $10 more than the Nissan Sentra,  $220 less than the Hyundai Elantra, and $16 more than the Volkswagen Jetta per year.

The chart below shows how average Corolla car insurance cost compares to the rest of the top 10 best selling compact cars. The more comprehensive table below that shows the full insurance affordability rankings for the small car segment, with the Corolla ranked at #6.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average rates are for a 2022 model year Toyota Corolla, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all Toyota Corolla trim levels. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on March 13, 2022
Toyota Corolla vs Top 10 Small Cars Insurance Rate Comparison
Toyota Corolla Insurance Cost Compared to All Small Cars
Rank Make/Model Insurance Cost Difference
1Subaru Impreza$1,312-$174
2Chevrolet Spark$1,320-$166
3Volkswagen Golf$1,456-$30
4Volkswagen Jetta$1,470-$16
5Nissan Sentra$1,476-$10
6Toyota Corolla$1,486--
7Kia Rio$1,494$8
8Honda Civic$1,498$12
9Mazda 3$1,500$14
10Toyota Prius$1,512$26
11Hyundai Accent$1,530$44
12Hyundai Veloster$1,546$60
13Kia Forte$1,550$64
14Nissan Leaf$1,616$130
15Hyundai Ioniq$1,620$134
16Honda Clarity$1,666$180
17Hyundai Elantra$1,706$220
18Nissan Versa$1,708$222
19Mitsubishi Mirage G4$1,714$228
20Toyota Mirai$1,956$470

One factor that is not included in the comparison above is the purchase price of each compact car. When shopping within a budget, it’s good to know how much insurance will cost between similarly priced models.

A 2022 Corolla has an average MSRP of $23,735, ranging from the L trim at $20,175 to the XSE Apex Edition trim at $28,460.

The vehicles in the small car segment closest in price to the Toyota Corolla are the Volkswagen Jetta, Hyundai Elantra, Subaru Impreza, and Nissan Sentra.

Here’s how those four models compare to the Corolla for overall purchase price and average insurance cost.

  • Toyota Corolla vs. Volkswagen Jetta – Having an average MSRP of $25,081 ($18,995 to $30,745), the 2022 Volkswagen Jetta costs $1,346 more than the average cost of the Corolla. Expect to pay an average of $16 less per year for full-coverage insurance on the Volkswagen Jetta compared to a Corolla.
  • Toyota Corolla vs. Hyundai Elantra – The Hyundai Elantra retails for an average of $25,104 ($18,995 to $32,925), which is $1,369 more expensive than the average cost of the Corolla. Expect to pay an average of $220 more per year for insurance on the Hyundai Elantra compared to a Corolla.
  • Toyota Corolla vs. Subaru Impreza – Having an average sticker price of $22,281 and ranging from $18,795 to $26,395, the Subaru Impreza costs $1,454 less than the average cost for the Corolla. Drivers can expect to pay approximately $174 less each year for full-coverage insurance on the Subaru Impreza compared to a Corolla.
  • Toyota Corolla vs. Nissan Sentra – With an average sticker price of $21,909 and ranging from $19,510 to $24,570, the Nissan Sentra costs $1,826 less than the MSRP for the Corolla. Full-coverage insurance on the Nissan Sentra costs an average of $10 less every 12 months than the Toyota Corolla.

How much does the 2023 Toyota GR Corolla cost to insure?

The 2023 Toyota GR Corolla is expected to be the most expensive Corolla model to insure for two reasons: cost and performance.

First, the MSRP is estimated to start at $32,000 for the Core model and go up to $40,000 for the Circuit Edition. Those prices are considerably higher than the current top-level XSE Apex Edition which stickers at around $28,500.

Second, the GR Corolla will come with a 1.6L turbocharged 300 hp engine, which has considerably more torque and almost double the horsepower than the 2.0L Dynamic Force engine available in other models.

Combine a higher replacement cost with more power, and you get the recipe for higher car insurance rates.

As data becomes available for the 2023 GR Corolla, we will update our site with our full rate analysis.

Insurance cost for older Corolla models

The following table shows the average cost for full-coverage car insurance starting with the 2013 model year up to the current 2022 model.

Toyota Corolla Insurance Cost for 2013-2022 Models
Model Year Driver Age 20 Age 30 Age 40 Age 50 Age 60
2022$2,918$1,544$1,486$1,356$1,328
2021$2,404$1,284$1,222$1,114$1,094
2020$2,368$1,262$1,204$1,094$1,074
2019$2,204$1,176$1,126$1,026$1,006
2018$2,732$1,434$1,386$1,266$1,240
2017$2,686$1,404$1,360$1,244$1,216
2016$2,442$1,280$1,242$1,132$1,106
2015$2,196$1,154$1,114$1,016$996
2014$2,094$1,102$1,066$972$952
2013$2,044$1,060$1,040$954$930

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates assume clean driving record and no at-fault accidents. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on April 6, 2022
Toyota Corolla Insurance Cost by Model Year