Toyota Tacoma Insurance Cost for 2023

How much is insurance for a Toyota Tacoma?

From the SR Access Cab 4WD model up to the higher cost Limited 2WD trim, we compared insurance cost for the Tacoma to see how average policy premiums compares to the rest of the midsize truck segment.

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  • Toyota Tacoma insurance cost averages $1,614 per year, $807 for a 6-month policy, or $135 per month.
  • The cheapest Tacoma to insure is the SR Access Cab 4WD trim level at an estimated $1,496 per year. The most expensive to insure is the Limited 2WD at $1,740 annually.
  • When compared to the entire 2023 midsize truck segment, the Tacoma ranks sixth for insurance affordability, costing $52 less per year on average than comparable trucks.
  • Location is a big factor when buying Tacoma insurance. Full coverage rates can be less than $90 a month in states like Iowa, Virginia, North Carolina, and Maine, but over $167 a month in Rhode Island, Florida, and Michigan.

How much does Toyota Tacoma insurance cost?

Toyota Tacoma car insurance costs an average of $1,614 yearly, or around $135 each month. With the average midsize truck costing $1,666 a year to insure, the Tacoma could save around $52 each year depending on the trim level.

The next chart illustrates how 2023 Toyota Tacoma insurance rates are impacted by driver age and the policy deductible for physical damage coverage (comprehensive and collision). The overall average cost of Tacoma insurance is determined by rating a 40-year-old driver with $500 deductibles.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Chart shows average insurance cost for a 2023 Toyota Tacoma with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all Toyota Tacoma trim levels.Data last updated on January 23, 2023
Toyota Tacoma Insurance Rate Summary
Toyota Tacoma Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$2,720$227
$500$3,202$267
$250$3,710$309
30$1,000$1,426$119
$500$1,698$142
$250$1,978$165
40$1,000$1,366$114
$500$1,614$135
$250$1,870$156
50$1,000$1,246$104
$500$1,470$123
$250$1,700$142
60$1,000$1,224$102
$500$1,442$120
$250$1,670$139

As shown by the chart trends, insurance cost goes down with driver age, but goes up when deductibles are decreased. Younger drivers with low deductibles will pay the highest rates to protect their Tacoma, while older drivers who choose higher deductibles will pay the least.

Teen drivers cost considerably more to insure, with rates as high as $6,578 for a 16-year-old driving a 2023 Tacoma with full coverage and low deductibles.

Which Tacoma has the cheapest insurance?

The Tacoma trim with the cheapest insurance rates is the SR Access Cab 4WD at an average cost of $1,496 per year. On the high end, the Limited 2WD at $1,740 will cost the most to insure.

As buyers add options and packages to their Tacoma, the cost obviously increases. With higher MSRP (and vehicle value) insurance cost increases as well. The SR Access Cab 4WD starts at $30,325 and increases to $40,005 for the Limited 2WD model, so insurance cost is going to be higher for the upper-end trim levels.

The table below shows average Tacoma insurance rates for various policy terms for each of the available trim levels and models.

2023 Toyota Tacoma Insurance Cost by Trim Level
Toyota Tacoma Trim Level Annual Policy 6-month Policy Per Month
SR Access Cab 4WD$1,496$748$125
SR Access Cab 2WD$1,508$754$126
SR5 Access Cab 4WD$1,532$766$128
SR Access Cab V6 4WD$1,548$774$129
SR5 Access Cab 2WD$1,548$774$129
SR Double Cab 2WD$1,554$777$130
SR5 Double Cab 4WD$1,558$779$130
SR Access Cab V6 2WD$1,564$782$130
SR5 Double Cab 2WD$1,570$785$131
SR5 Access Cab V6 4WD$1,596$798$133
SR5 Double Cab 4WD$1,610$805$134
SR5 Access Cab V6 2WD$1,622$811$135
TRD Sport Access Cab 4WD$1,622$811$135
TRD Off-Road Access Cab 4WD$1,622$811$135
TRD Sport Double Cab 4WD$1,636$818$136
TRD Off-Road Double Cab 4WD$1,636$818$136
SR5 Double Cab V6 2WD$1,642$821$137
TRD Sport Access Cab 2WD$1,654$827$138
Trail Special Edition AWD$1,662$831$139
TRD Off-Road Double Cab 2WD$1,674$837$140
Limited AWD$1,694$847$141
TRD Sport Double Cab 2WD$1,700$850$142
TRD Pro AWD$1,726$863$144
Limited 2WD$1,740$870$145

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2023 Toyota Tacoma, 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 January 23, 2023
Toyota Tacoma Insurance Cost by Trim Level

The Tacoma vs. other midsize trucks: How does it rank?

When compared to all other midsize trucks, the Tacoma ranks sixth out of 10 total models for having the most affordable insurance rates at $1,614 per year. The cheapest to insure in the segment is the Ford Maverick $1,464 per year.

The chart below shows how well Tacoma insurance prices fare against other midsize trucks like the Chevrolet Colorado, Ford Ranger, and the Jeep Gladiator.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average rates are for a 2023 model year Toyota Tacoma, 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 Tacoma trim levels. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on January 23, 2023
Toyota Tacoma Insurance Cost vs Other Midsize Trucks
Toyota Tacoma Insurance Cost Compared to All Midsize Trucks
Rank Make/Model Insurance Cost Difference
1Ford Maverick$1,464-$150
2Chevrolet Colorado$1,470-$144
3Nissan Frontier$1,522-$92
4Ford Ranger$1,566-$48
5GMC Canyon$1,602-$12
6Toyota Tacoma$1,614--
7Hyundai Santa Cruz$1,640$26
8Honda Ridgeline$1,752$138
9Jeep Gladiator$1,834$220
10Rivian R1T$2,194$580

Another useful way to look at insurance rates is to compare the cost to insure other pickup models that have the closest purchase price to the Tacoma.

A 2023 Toyota Tacoma has an average MSRP of $35,044, which ranges from $30,325 to $40,005, depending on the exact trim level and option package.

The four midsize pickup models closest in price to the Toyota Tacoma are the Nissan Frontier, Ford Ranger, Hyundai Santa Cruz, and Chevrolet Colorado.

The list below shows how each of these models compares to the Tacoma for both average purchase price and the cost of insurance.

  • Compared to the Nissan Frontier – The average MSRP for a 2023 Toyota Tacoma is $531 more expensive than the Nissan Frontier, at $35,044 compared to $34,513. Insuring the Nissan Frontier costs an average of $92 less each year than the Toyota Tacoma.
  • Compared to the Ford Ranger – The Ford Ranger has an average sticker price of $34,244, ranging from $27,400 to $40,945, which is $800 cheaper than the average sticker price for the Toyota Tacoma. The cost to insure a Toyota Tacoma compared to the Ford Ranger is $48 more per year on average.
  • Compared to the Hyundai Santa Cruz – Having an average MSRP of $33,344 ($25,450 to $40,320), the Hyundai Santa Cruz costs $1,700 less than the Toyota Tacoma. Insuring a Tacoma compared to the Hyundai Santa Cruz costs an average of $26 less every 12 months.
  • Compared to the Chevrolet Colorado – The average MSRP for a 2023 Toyota Tacoma is $2,292 cheaper than the Chevrolet Colorado, at $35,044 compared to $37,336. Insurance on a 2023 Toyota Tacoma costs an average of $144 more every 12 months than the Chevrolet Colorado.

For more insurance cost comparisons for a Tacoma, see our full index page of comparisons.

Toyota Tacoma prior model year insurance rates

Every model year has a little different insurance cost, as changes in safety features or performance can directly impact rates. The table below shows average annual insurance rates for 2013 to 2023 Tacomas for three different driver ages.

Toyota Tacoma Insurance Cost by Model Year
Model Year and Vehicle Driver Age 20 Driver Age 40 Driver Age 60
2023 Toyota Tacoma$3,202$1,614$1,442
2022 Toyota Tacoma$3,064$1,534$1,376
2021 Toyota Tacoma$2,850$1,432$1,284
2020 Toyota Tacoma$2,814$1,412$1,266
2019 Toyota Tacoma$2,738$1,374$1,232
2018 Toyota Tacoma$3,104$1,550$1,388
2017 Toyota Tacoma$2,936$1,470$1,316
2016 Toyota Tacoma$2,864$1,430$1,282
2015 Toyota Tacoma$2,540$1,276$1,142
2014 Toyota Tacoma$2,338$1,176$1,052
2013 Toyota Tacoma$2,294$1,154$1,032

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates for each driver age group are for a 12-month period and assume a 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 January 23, 2023
Toyota Tacoma Insurance Cost by Model Year

Location and the cost of insuring a Toyota Tacoma

Your location is one of the primary factors that determine how much Tacoma insurance costs. The chart below shows how much insurance averages on a 2023 Toyota Tacoma in thirty of the largest metro areas in America.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Chart shows average car insurance rates for a 2023 Toyota Tacoma, 40-year-old married male driver with safe driver and claim-free discounts applied. Physical damage deductibles are $500 and rates are the average for all Toyota Tacoma trim levels.Data last updated on January 23, 2023
Toyota Tacoma Insurance Rates by U.S. City
Toyota Tacoma Insurance Rates by Location
City/State Annual Rate Monthly Rate
New York, NY$2,842$237
Philadelphia, PA$2,520$210
Las Vegas, NV$2,514$210
Los Angeles, CA$2,506$209
San Francisco, CA$2,170$181
Kansas City, MO$1,932$161
Oklahoma City, OK$1,932$161
Denver, CO$1,894$158
Memphis, TN$1,894$158
Atlanta, GA$1,868$156
San Jose, CA$1,818$152
Phoenix, AZ$1,770$148
Portland, OR$1,746$146
San Diego, CA$1,736$145
Jacksonville, FL$1,730$144
Boston, MA$1,730$144
Chicago, IL$1,682$140
Dallas, TX$1,654$138
Houston, TX$1,646$137
Seattle, WA$1,640$137
Nashville, TN$1,576$131
Milwaukee, WI$1,570$131
Albuquerque, NM$1,542$129
San Antonio, TX$1,492$124
Omaha, NE$1,448$121
Fort Worth, TX$1,444$120
Austin, TX$1,426$119
Indianapolis, IN$1,298$108
Columbus, OH$1,196$100
Charlotte, NC$1,144$95

Just like car insurance rates have significant variation in different cities, they vary just as much between states. Some states have more favorable liability laws that help keep the cost of insurance down. The table below shows estimated auto insurance rates for a 2023 Toyota Tacoma in all 50 states.

Toyota Tacoma Average Insurance Cost by State for 2023
U.S. State Annual Cost 6-month Cost Monthly Cost
Alabama$1,450$725$121
Alaska$1,220$610$102
Arizona$1,476$738$123
Arkansas$1,688$844$141
California$1,952$976$163
Colorado$1,730$865$144
Connecticut$1,796$898$150
Delaware$1,836$918$153
Florida$2,008$1,004$167
Georgia$1,646$823$137
Hawaii$1,098$549$92
Idaho$1,148$574$96
Illinois$1,414$707$118
Indiana$1,204$602$100
Iowa$1,078$539$90
Kansas$1,588$794$132
Kentucky$1,726$863$144
Louisiana$1,920$960$160
Maine$970$485$81
Maryland$1,498$749$125
Massachusetts$1,756$878$146
Michigan$2,204$1,102$184
Minnesota$1,382$691$115
Mississippi$1,572$786$131
Missouri$1,818$909$152
Montana$1,480$740$123
Nebraska$1,346$673$112
Nevada$1,930$965$161
New Hampshire$1,078$539$90
New Jersey$1,954$977$163
New Mexico$1,324$662$110
New York$1,868$934$156
North Carolina$1,006$503$84
North Dakota$1,332$666$111
Ohio$1,126$563$94
Oklahoma$1,780$890$148
Oregon$1,504$752$125
Pennsylvania$1,550$775$129
Rhode Island$1,998$999$167
South Carolina$1,350$675$113
South Dakota$1,658$829$138
Tennessee$1,534$767$128
Texas$1,496$748$125
Utah$1,412$706$118
Vermont$1,172$586$98
Virginia$1,072$536$89
Washington$1,454$727$121
West Virginia$1,436$718$120
Wisconsin$1,154$577$96
Wyoming$1,430$715$119

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2023 Toyota Tacoma, 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 Tacoma trim levels. Physical damage deductibles are $500 and rates are averaged for all zip codes in each state.Data last updated on January 23, 2023
Toyota Tacoma insurance rates by U.S. state

Without a doubt, the Tacoma is a great truck despite being overdue for a redesign. Insuring a Tacoma should not break the bank (depending on your location, of course) and all those “taco” owners will be pleased to know they have the lowest insurance rates in the midsize truck category.