- Toyota Tacoma insurance cost averages $1,920 per year, $960 for a 6-month policy, or $160 per month.
- The cheapest Tacoma to insure is the SR XtraCab 2WD trim level at an estimated $1,742 per year. The most expensive to insure is the Trailhunter at $2,112 annually.
- When compared to the entire 2024 midsize truck segment, the Tacoma ranks seventh for insurance affordability, costing $9 more per year on average than comparable trucks.
- Location is a big factor when buying Tacoma insurance. Full coverage rates can be less than $112 a month in states like Iowa, Virginia, North Carolina, and Maine, but over $194 a month in Florida, Rhode Island, and Michigan.
How much does Toyota Tacoma insurance cost?
2024 Toyota Tacoma insurance costs an average of $1,920 yearly, or around $160 each month. When compared to the entire midsize pickup segment, the Tacoma costs $9 less than the segment average, which is $1,911.
When compared to all 2024 model year vehicles, not just midsize pickups, insurance for a Tacoma costs 5.8% less than the national average car insurance rate of $2,034 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 2024 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.
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 $7,936 for a 16-year-old driving a 2024 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 XtraCab 2WD at an average cost of $1,742 per year. On the high end, the Trailhunter at $2,112 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 XtraCab 2WD starts at $28,750 and increases to $52,000 for the Trailhunter model, so insurance cost is going to be higher for the upper-end trim levels.
The table below shows average 2024 Tacoma insurance rates for various policy terms for each of the available trim levels and models.
| 2024 Toyota Tacoma Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| SR XtraCab 2WD | $1,742 | $145 |
| SR5 XtraCab 2WD | $1,790 | $149 |
| SR Double Cab 2WD | $1,794 | $150 |
| SR5 Double Cab 2WD | $1,810 | $151 |
| SR XtraCab 4WD | $1,822 | $152 |
| SR5 XtraCab 4WD | $1,860 | $155 |
| SR5 Double Cab 4WD | $1,890 | $158 |
| SR5 Double Cab V6 2WD | $1,894 | $158 |
| TRD PreRunner | $1,900 | $158 |
| TRD Off-Road Double Cab 2WD | $1,924 | $160 |
| SR5 Double Cab 4WD | $1,946 | $162 |
| TRD Sport Double Cab 2WD | $1,952 | $163 |
| TRD Sport Double Cab 4WD | $1,974 | $165 |
| TRD Off-Road Double Cab 4WD | $1,974 | $165 |
| Limited 2WD | $1,998 | $167 |
| Trail Special Edition AWD | $2,002 | $167 |
| Limited AWD | $2,036 | $170 |
| TRD Pro AWD | $2,074 | $173 |
| Trailhunter | $2,112 | $176 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Updated February 23, 2024
The Tacoma vs. other midsize trucks: How does it rank?
When compared to all other midsize trucks, the Tacoma ranks seventh out of 10 total models for having the most affordable insurance rates at $1,920 per year. The cheapest to insure in the segment is the Chevrolet Colorado $1,624 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.
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 2024 Toyota Tacoma has an average MSRP of $37,588, which ranges from $28,750 to $52,000, 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, Hyundai Santa Cruz, Chevrolet Colorado, and Ford Ranger.
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 2024 Toyota Tacoma is $1,996 more expensive than the Nissan Frontier, at $37,588 compared to $35,592. Insuring the Nissan Frontier costs an average of $124 less each year than the Toyota Tacoma.
- Compared to the Hyundai Santa Cruz – The Hyundai Santa Cruz has an average sticker price of $35,036, ranging from $26,650 to $41,070, which is $2,552 cheaper than the average sticker price for the Toyota Tacoma. The cost to insure a Toyota Tacoma compared to the Hyundai Santa Cruz is $6 more per year on average.
- Compared to the Chevrolet Colorado – Having an average MSRP of $40,308 ($30,695 to $60,095), the Chevrolet Colorado costs $2,720 more than the Toyota Tacoma. Insuring a Tacoma compared to the Chevrolet Colorado costs an average of $296 more every 12 months.
- Compared to the Ford Ranger – The average MSRP for a 2024 Toyota Tacoma is $3,865 cheaper than the Ford Ranger, at $37,588 compared to $41,453. Insurance on a 2024 Toyota Tacoma costs an average of $106 more every 12 months than the Ford Ranger.
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 2024 Tacomas for three different driver ages.
| Model Year and Vehicle | Driver Age 20 | Driver Age 40 | Driver Age 60 |
|---|---|---|---|
| 2024 Toyota Tacoma | $3,888 | $1,920 | $1,598 |
| 2023 Toyota Tacoma | $3,390 | $1,684 | $1,402 |
| 2022 Toyota Tacoma | $3,252 | $1,610 | $1,334 |
| 2021 Toyota Tacoma | $3,032 | $1,504 | $1,248 |
| 2020 Toyota Tacoma | $2,938 | $1,458 | $1,210 |
| 2019 Toyota Tacoma | $2,850 | $1,410 | $1,172 |
| 2018 Toyota Tacoma | $3,154 | $1,558 | $1,298 |
| 2017 Toyota Tacoma | $2,986 | $1,474 | $1,230 |
| 2016 Toyota Tacoma | $2,832 | $1,400 | $1,170 |
| 2015 Toyota Tacoma | $2,506 | $1,242 | $1,040 |
| 2014 Toyota Tacoma | $2,308 | $1,146 | $964 |
| 2013 Toyota Tacoma | $2,264 | $1,124 | $946 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Premiums are averaged for all Toyota Tacoma trim levels for each model year. Updated February 23, 2024
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 2024 Toyota Tacoma in thirty of the largest metro areas in America.
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 2024 Toyota Tacoma in all 50 states.
| U.S. State | Annual Premium | Cost Per Month |
|---|---|---|
| Alabama | $1,754 | $146 |
| Alaska | $1,504 | $125 |
| Arizona | $1,788 | $149 |
| Arkansas | $2,016 | $168 |
| California | $2,302 | $192 |
| Colorado | $2,064 | $172 |
| Connecticut | $2,136 | $178 |
| Delaware | $2,178 | $182 |
| Florida | $2,332 | $194 |
| Georgia | $1,974 | $165 |
| Hawaii | $1,370 | $114 |
| Idaho | $1,426 | $119 |
| Illinois | $1,716 | $143 |
| Indiana | $1,486 | $124 |
| Iowa | $1,348 | $112 |
| Kansas | $1,906 | $159 |
| Kentucky | $2,056 | $171 |
| Louisiana | $2,232 | $186 |
| Maine | $1,230 | $103 |
| Maryland | $1,806 | $151 |
| Massachusetts | $2,090 | $174 |
| Michigan | $2,522 | $210 |
| Minnesota | $1,684 | $140 |
| Mississippi | $1,888 | $157 |
| Missouri | $2,160 | $180 |
| Montana | $1,788 | $149 |
| Nebraska | $1,642 | $137 |
| Nevada | $2,280 | $190 |
| New Hampshire | $1,350 | $113 |
| New Jersey | $2,304 | $192 |
| New Mexico | $1,618 | $135 |
| New York | $2,212 | $184 |
| North Carolina | $1,268 | $106 |
| North Dakota | $1,628 | $136 |
| Ohio | $1,400 | $117 |
| Oklahoma | $2,114 | $176 |
| Oregon | $1,816 | $151 |
| Pennsylvania | $1,862 | $155 |
| Rhode Island | $2,356 | $196 |
| South Carolina | $1,646 | $137 |
| South Dakota | $1,982 | $165 |
| Tennessee | $1,844 | $154 |
| Texas | $1,806 | $151 |
| Utah | $1,712 | $143 |
| Vermont | $1,450 | $121 |
| Virginia | $1,342 | $112 |
| Washington | $1,762 | $147 |
| West Virginia | $1,740 | $145 |
| Wisconsin | $1,430 | $119 |
| Wyoming | $1,734 | $145 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Updated February 23, 2024
Author’s thoughts on insuring a Toyota Tacoma
As the numbers show, the Tacoma is definitely not the cheapest midsize truck to insure for the new model year. It was definitely more competitive in the segment in prior model years.
However, most Tacoma owners are diehard Toyota fans and the cost of insurance really is a secondary thought. I follow several Tacoma groups on Facebook and insurance rates rarely come up in discussions. Peeling paint, poor gas mileage, and lack of power from the old V6 are probably the primary discussions I see.
But do those issues dissuade people from buying the next generation of Tacoma? Oh heck no!
Tacoma owners pay a premium to own a truck with high reliability, and seeing the amount of overland and off-road accessories these same owners add to their new stock TRD-Pro or Off-Road model, I don’t think paying a couple hundred dollars extra per year to insure it even enters their mind.
The newly redesigned Tacoma has been long-awaited, and is much more than a model year refresh. Along with new looks and features, it also comes with a higher sticker price, which is not unexpected.
Having insured all sizes and types of trucks, along with owning more trucks than I probably should have, the Tacoma is honestly near the top of my list for my next truck. As I’ve watched the prices of new full-size trucks skyrocket, the price of the Tacoma is actually quite digestible.
Tacoma owners will always debate if switching to a 4-cylinder turbo was a smart move on Toyota’s part, but with higher torque and better fuel economy, I would have no problem stepping down in size from my current F-150 into a Tacoma.
The TRD-Pro seats are definitely interesting I will admit that, and may be slightly overkill for the amount of off-roading I do. If money was no object, the Trailhunter would be my choice simply based on appearances only. In my opinion, it’s one of the best looking trucks currently available in any size or brand.
When it comes down to insuring your Tacoma, let’s face it, insurance is expensive no matter what you drive. So if buying a Tacoma gives you that warm fuzzy feeling every time you see it parked in the driveway, don’t sweat the cost of coverage. It’s worth it.
About the Author
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.