Toyota Car Insurance Cost & Quotes Comparison

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Things to Know About Insuring Toyota Vehicles

Summary

  • Like Suzuki, Toyota started out as a builder of weaving looms in 1924. Selling the patent for a loom design provided the funds that permitted the switch to automobile manufacture.
  • Toyota (originally spelled Toyoda, after the founder’s name) began producing cars in 1933.
  • Occupant protection in Toyota models ranges across the scale, with good, average and poor protection across the company’s product line.
  • Collision claims across model lines tend toward average performance. Above average and below average models are about equal, roughly 30 percent of all Toyota vehicles.
  • Comprehensive claims favour better than average performance. More than one-third of all Toyota vehicles cost less than average to settle in this category.

With Toyota’s reputation for good resale costs and overall performance, their vehicles remain popular on both new and used car markets. Finding the best insurance prices depends on find the insurance company that gives Toyota cars the best risk factors. For the car insurance consumer, that means some comparison shopping. Ratelab’s car insurance calculator changes the game. With one stop, a driver can now search the best deals from over 40 car insurance providers. The calculator provides up to 10 low-cost quotes in the time it takes to call one agent. Start now, from this page, with your postal code entered above. Finding the right company can save you hundreds.

How Much Does Car Insurance Cost For Toyota

The table below shows Toyota car insurance cost for a sample driver.

CityAverage Toyota Car Insurance Cost*
Quebec City$585
Longueuil$618
Gatineau$801
Montreal$886
Ottawa$940
Laval$978
Kitchener$1,015
Halifax$1,055
London$1,155
Calgary$1,168
Windsor$1,242
Edmonton$1,263
Hamilton$1,275
Richmond Hill$1,321
Markham$1,321
Toronto$1,346
Mississauga$1,524
Brampton$1,730
Vaughan$1,968

Methodology: We surveyed Toyota car insurance prices in select Canadian cities for the purpose of illustrating the average quotes for a male driver aged 35 years in city downtown with owned Toyota 4RUNNER SR5 V6 4DR 4WD 2015 model car.

Please note that car insurance prices depend on many factors including your age, location, driving history and more. So, to get a customized quote, enter your postal code above.

Toyota Model Factors that Lower Auto Insurance Costs

The Insurance Bureau of Canada collects auto insurance claims information from its member companies across the country. This data provides a common base for all insurance companies. In Ontario, while insurers fall under the oversight of the Financial Services Commission of Ontario, they are free to set rates and procedures, as long as their methods receive FSCO approval. This means that, though the source data is common, each insurance company could potentially rate every car model differently. An insurance policy represents the weighing of many risk factors to determine its cost.

As a maker of many models, insurance performance from Toyota varies by vehicle. Older model Camrys, for example, have very good performance in both collision and comprehensive claims, meaning that they cost much less than average to repair or replace after an incident. Corolla, Echo as well as Sienna models show similar performance. More recent models for each of these tends to have average or more expensive than average recovery costs. Buying older versions used gives an affordable insurance picture.

The frequency of accident benefits claims attached to a car model suggests how well that vehicle protects its occupants. Safer vehicles result in fewer accident benefit claims. Toyota’s Sequoia shows better than average performance in this category for all model years, as do Tacoma and Tundra. The Venza hatchback performs well but has a few model years that dip into average levels. Since accident benefits are part of Ontario’s mandatory insurance coverage, models performing well in this category should see lower base rates.

Toyota Model Factors that Increase Auto Insurance Costs

Toyota Highlander models between 2009 and 2013 show collision claims settlement rates above the national average. These models will cost more to add collision coverage based on those statistics. Other Toyota vehicles with similarly high collision claims include the Rav 4 from 2009 to 2014; Matrix wagon between 2009 and 2011; Sienna from 2011 to 2013 and Tundra from 2011 to 2014. Other years of these vehicles may not exhibit the same performance and therefore won’t take a collision insurance rate hit.

Most Toyota models demonstrate variance between model year when it comes to collision claims performance. Drivers interested in purchasing used Toyota models can check the IBC’s data to see how a model year stacks up.

Comprehensive coverage protects vehicles against non-collision incidents resulting in damage or loss, such as hail or theft, to name two. Overall, more Toyota models perform above national average, but as with collision, certain models and years bear the brunt of lower than average performance.

In the 10 years between 2004 and 2014, Toyota 4Runner models placed above average in comprehensive claims costs in 8 of those years. Highlanders between 2007 and 2014 cost more than average every model year. While the 2002 Sequoia placed in the average range, every other model year listed exceeded average. The news is similar for Tacoma and Tundra. Any of these vehicles carries a higher than average price tag for comprehensive coverage. As with collision, other models and years may place at, above or below average, usually without pattern.

Known Issues with Toyota Vehicles

Inflators built into Takata airbags from 2002 to 2015 may deploy explosively and its cartridge sending shards of metal into the passenger cabin. Unfortunately, Takata supplies many of the world’s automakers, so the recall to address this issue is extensive. Learn more about the problem as well as affected vehicles through a thorough online blog from Consumer Reports.

  • At the time of publication, Toyota 4Runner had no recalls outstanding.
  • 2011 to 2012 Toyota Avalons have a car audio subwoofer that may overheat.
  • Toyota Camry, Avalon, Highlander, and Sienna models from 2014 may develop a fuel leak, increasing vehicle fire risk.
  • Air conditioning condensers forced the recall of 2012 and 2013 Toyota Camry, Camry Hybrid, Avalon, Avalon Hybrid and Venza models.
  • Toyota Camry and other models from 2012 and 2013 require a wiper switch replacement.

Given a large number of vehicles Toyota manufactures, the current recall list is long. See Edmunds.com for a more complete listing.

Tips for Finding the Lowest Toyota Car Insurance Rates

ask-discounts

Once you’ve used Ratelab’s car insurance calculator to identify the best providers, there are still things you can do to chip away at your car insurance bill. Consider these options:

  • Increase deductible limits on collision and comprehensive coverage. While you’ll pay more in the event of an accident, your car insurance premiums go down. If you’re never involved in an accident, you come out way ahead.
  • Drop unnecessary options. For example, don’t maintain non-owned vehicle coverage if you don’t rent cars.
  • Ask about discounts. Every insurer has their own discounts, but they probably won’t apply them until you ask.
  • Review your options when you renew – through your current company and through Ratelab, to ensure you’re always getting the best rate.

Toyota In Depth

Toyota Motor Corporation is an automobile company established in 1937 and has its headquarters in Toyota, Aichi, Japan. In the year 2012, Toyota was ranked the largest automobile manufacturer before General Motors and Volkswagen Group. Toyota Motor Corporation was the first automobile company to produce above 10 million vehicles per year. In Japan, the company was the largest listed company based on market capitalization.

Toyota Crash Test

Popular Models

Corolla, Land Cruiser, RAV4, Yaris, Tundra, Tacoma, Highlander, Avalon, Venza, Sequoia, Pickup, Matrix, Echo, Spyder, Celica, Camry Hybrid, Toyota Sienna

The Toyota Corolla is a popular car in Canada that is consistently used by Canadians. It is ranked third among the list of the twenty top-selling cars in Canada.

Toyota has brought in several new safety features designed to bring accident avoidance countermeasures to new a level. Some of these safety features include a pre-collision system, stability control, side airbags, traction control, antilock brakes, front and rear head curtain airbags, reverse warning navigation system, adaptive driving beam, electronic ABS, as well as braking assistance.

Toyota is a popular model in Canada, and the parts are readily available in stores all over the country. The cost of repairing the parts is relatively inexpensive. Toyota is one of the most reliable car models, and this is backed up by data. Toyota was ranked the second most reliable vehicle company in Canada. Consumer Reports ranked Toyota as the most reliable car consistently for eight years.

The Toyota Venza 4-door is one of the most frequently stolen cars in Canada. Thieves target this particular model because the parts are readily available and easily resold. The increased security system has led to a reduction in theft for most of the newer models.

All Toyota Models

Toyota 4Runner
Toyota Avalon
Toyota Avalon Hybrid
Toyota Camry
Toyota Camry Hybrid
Toyota Camry Solara
Toyota Corolla
Toyota FJ Cruiser
Toyota Highlander
Toyota Highlander Hybrid
Toyota Land Cruiser
Toyota Matrix
Toyota Prius
Toyota Prius c
Toyota Prius Plug-in
Toyota Prius Plug-In
Toyota Prius V
Toyota RAV4
Toyota RAV4 Hybrid
Toyota Sequoia
Toyota Sienna
Toyota Tacoma
Toyota Tundra
Toyota Venza
Toyota Yaris

References

  1. Toyota Canada
  2. Financial Services Commission of Ontario
  3. Insurance Bureau of Canada: How Cars Measure Up
  4. com: Smart Recalls
  5. Consumer Reports: Takata Airbag Recall Information

Car Insurance Analysis By Car Brand

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