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 $1,658 per year, $829 for a 6-month policy, or $138 per month.
  • The cheapest Tacoma to insure is the SR Access Cab 4WD trim level at an estimated $1,536 per year. The most expensive to insure is the Limited 2WD at $1,788 annually.
  • When compared to the entire 2023 midsize truck segment, the Tacoma ranks sixth for insurance affordability, costing $53 less per year on average than comparable trucks.
  • Location is a big factor when buying Tacoma insurance. Full coverage rates can be less than $93 a month in states like Iowa, Virginia, North Carolina, and Maine, but over $170 a month in Rhode Island, Florida, and Michigan.

How much does Toyota Tacoma insurance cost?

2023 Toyota Tacoma insurance costs an average of $1,658 yearly, or around $138 each month. When compared to the entire midsize pickup segment, the Tacoma costs $53 less than the segment average, which is $1,711.

When compared to all 2023 model year vehicles, not just midsize pickups, insurance for a Tacoma costs 16.1% less than the national average car insurance rate of $1,948 per year.

Two important things that help determine how much you’ll pay to insure your Tacoma are your age and the deductibles you choose for your policy.

In general, the younger you are, the more you’ll pay for insurance, up to about age 65 when that trend reverses. And higher deductibles on your policy will cost less since you are choosing to pay more out-of-pocket in the event you have a claim.

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 rate we use throughout our comparison is the one shown in the chart for a 40-year-old driver using $500 policy 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 August 12, 2023
Toyota Tacoma Insurance Rate Summary
2023 Toyota Tacoma Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$2,792$233
$500$3,286$274
$250$3,806$317
30$1,000$1,464$122
$500$1,742$145
$250$2,030$169
40$1,000$1,404$117
$500$1,658$138
$250$1,922$160
50$1,000$1,280$107
$500$1,506$126
$250$1,746$146
60$1,000$1,256$105
$500$1,478$123
$250$1,714$143

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 $6,752 for a 16-year-old driving a 2023 Tacoma with full coverage and low deductibles.

Sales of the Toyota Tacoma in 2022 were more than double its nearest competitor. 237,323 Tacomas were sold in that year, with the Chevy Colorado coming in second at 89,197 units. The Jeep Gladiator ranked third at 89,197 models sold.

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 $1,536 per year. On the high end, the Limited 2WD at $1,788 per year 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 2023 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 Six-Month Policy Per Month
SR Access Cab 4WD$1,536$768$128
SR Access Cab 2WD$1,548$774$129
SR5 Access Cab 4WD$1,572$786$131
SR Access Cab V6 4WD$1,588$794$132
SR5 Access Cab 2WD$1,592$796$133
SR Double Cab 2WD$1,594$797$133
SR5 Double Cab 4WD$1,598$799$133
SR Access Cab V6 2WD$1,606$803$134
SR5 Double Cab 2WD$1,612$806$134
SR5 Access Cab V6 4WD$1,636$818$136
SR5 Double Cab 4WD$1,652$826$138
TRD Sport Access Cab 4WD$1,662$831$139
TRD Off-Road Access Cab 4WD$1,662$831$139
SR5 Access Cab V6 2WD$1,666$833$139
TRD Sport Double Cab 4WD$1,680$840$140
TRD Off-Road Double Cab 4WD$1,680$840$140
SR5 Double Cab V6 2WD$1,686$843$141
TRD Sport Access Cab 2WD$1,698$849$142
Trail Special Edition AWD$1,706$853$142
TRD Off-Road Double Cab 2WD$1,718$859$143
Limited AWD$1,738$869$145
TRD Sport Double Cab 2WD$1,744$872$145
TRD Pro AWD$1,770$885$148
Limited 2WD$1,788$894$149

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 August 12, 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 $1,658 per year. The cheapest to insure in the segment is the Ford Maverick $1,504 per year.

The chart below shows how well Tacoma insurance prices fare against other midsize trucks like the Chevrolet Colorado, Ford Ranger, and 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 August 11, 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$1,504-$154
2Chevrolet Colorado$1,506-$152
3Nissan Frontier$1,564-$94
4Ford Ranger$1,610-$48
5GMC Canyon$1,646-$12
6Toyota Tacoma$1,658--
7Hyundai Santa Cruz$1,684$26
8Honda Ridgeline$1,798$140
9Jeep Gladiator$1,884$226
10Rivian R1T$2,254$596

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 $94 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 $152 more every 12 months than the Chevrolet Colorado.

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

If you use your Tacoma for off-roading or overlanding, be sure to check with your company about extra coverage for things like rooftop tents, performance suspension parts, and extra gear. They may not be covered by a standard policy.

Toyota Tacoma insurance: New versus used

Consumers generally tend to understand that newer vehicles cost more to insure. Insurance for a Tacoma tends to follow this general rule as well.

Every model year has a little different insurance cost, primarily due to an increased replacement cost value for newer models when compared to older models. Occasionally, insurance can be more expensive on an older model, as improvements in safety features can cause a newer model year to actually be cheaper to insure.

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$3,286$1,658$1,478
2022 Toyota Tacoma$3,144$1,574$1,412
2021 Toyota Tacoma$2,926$1,472$1,316
2020 Toyota Tacoma$2,888$1,448$1,300
2019 Toyota Tacoma$2,812$1,410$1,266
2018 Toyota Tacoma$3,186$1,592$1,426
2017 Toyota Tacoma$3,016$1,510$1,352
2016 Toyota Tacoma$2,942$1,472$1,316
2015 Toyota Tacoma$2,608$1,310$1,172
2014 Toyota Tacoma$2,400$1,208$1,082
2013 Toyota Tacoma$2,358$1,184$1,060

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 August 12, 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, along with your age, driving record, and policy coverage.

Insurance regulation is handled at the state level, which causes different states to have vastly different car insurance rates. And even within any one state, rates vary significantly depending on where you live.

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 August 12, 2023
Toyota Tacoma Insurance Rates by U.S. City
Toyota Tacoma Insurance Rates by Location
City/State Annual Rate Monthly Rate
New York, NY$2,874$240
Philadelphia, PA$2,554$213
Las Vegas, NV$2,548$212
Los Angeles, CA$2,542$212
San Francisco, CA$2,206$184
Kansas City, MO$1,966$164
Oklahoma City, OK$1,966$164
Denver, CO$1,930$161
Memphis, TN$1,930$161
Atlanta, GA$1,904$159
San Jose, CA$1,852$154
Phoenix, AZ$1,806$151
Portland, OR$1,782$149
San Diego, CA$1,770$148
Boston, MA$1,764$147
Jacksonville, FL$1,756$146
Chicago, IL$1,716$143
Dallas, TX$1,690$141
Houston, TX$1,682$140
Seattle, WA$1,674$140
Nashville, TN$1,614$135
Milwaukee, WI$1,606$134
Albuquerque, NM$1,576$131
San Antonio, TX$1,526$127
Omaha, NE$1,484$124
Fort Worth, TX$1,476$123
Austin, TX$1,460$122
Indianapolis, IN$1,332$111
Columbus, OH$1,230$103
Charlotte, NC$1,178$98

As mentioned earlier, state regulations affect insurance rates. Some states have more favorable liability laws that help keep the cost of car insurance down. While others are known for having laws that lead to insurance fraud and inflated costs for medical payments and liability claims.

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 Six-month Cost Monthly Cost
Alabama$1,486$743$124
Alaska$1,254$627$105
Arizona$1,514$757$126
Arkansas$1,720$860$143
California$1,984$992$165
Colorado$1,762$881$147
Connecticut$1,832$916$153
Delaware$1,868$934$156
Florida$2,034$1,017$170
Georgia$1,684$842$140
Hawaii$1,136$568$95
Idaho$1,184$592$99
Illinois$1,448$724$121
Indiana$1,238$619$103
Iowa$1,110$555$93
Kansas$1,622$811$135
Kentucky$1,762$881$147
Louisiana$1,946$973$162
Maine$1,006$503$84
Maryland$1,534$767$128
Massachusetts$1,790$895$149
Michigan$2,228$1,114$186
Minnesota$1,418$709$118
Mississippi$1,606$803$134
Missouri$1,854$927$155
Montana$1,514$757$126
Nebraska$1,382$691$115
Nevada$1,964$982$164
New Hampshire$1,112$556$93
New Jersey$1,988$994$166
New Mexico$1,360$680$113
New York$1,902$951$159
North Carolina$1,044$522$87
North Dakota$1,368$684$114
Ohio$1,160$580$97
Oklahoma$1,814$907$151
Oregon$1,542$771$129
Pennsylvania$1,584$792$132
Rhode Island$2,034$1,017$170
South Carolina$1,386$693$116
South Dakota$1,692$846$141
Tennessee$1,568$784$131
Texas$1,534$767$128
Utah$1,448$724$121
Vermont$1,206$603$101
Virginia$1,106$553$92
Washington$1,490$745$124
West Virginia$1,472$736$123
Wisconsin$1,186$593$99
Wyoming$1,466$733$122

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 August 12, 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.