Toyota Tacoma Insurance Cost for 2023

• 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.

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.

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.

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.

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.

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.

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.