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2001 Toyota Corolla Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Nov 23, 2017

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Average insurance rates for a 2001 Toyota Corolla are $888 a year for full coverage insurance. Comprehensive insurance costs on average $126 a year, collision insurance costs $162, and liability costs around $442. Buying a liability-only policy costs as low as $496 a year, and high-risk insurance costs $1,908 or more. Teenage drivers receive the highest rates at up to $3,666 a year.

Annual premium for full coverage: $888

Rate estimates for 2001 Toyota Corolla Insurance

Comprehensive $126
Collision $162
Liability $442

Rate data is compiled from all 50 U.S. states and averaged for all 2001 Toyota Corolla models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.

Price Range by Coverage and Risk

For the average driver, prices range range from as low as $496 for just liability insurance to a high of $1,908 for a driver that may need high-risk insurance.

Liability Only $496
Full Coverage $888
High Risk $1,908

View Chart as Image

2001 Toyota Corolla insurance rates compared
Column chart showing 2001 Toyota Corolla insurance prices range from $548 to $3,666 for full coverage

These differences illustrate why it is important for drivers to compare prices based on a specific location and risk profile, instead of making a decision based on average rates.

Use the form below to get rates for your location.

Enter your zip code below to view companies based on your location that have cheap auto insurance rates.

Recommended Companies for Cheap 2001 Toyota Corolla Insurance

Searching Companies

Looking for cheaper auto insurance rates? Shoppers have a choice when shopping for affordable Toyota Corolla insurance. They can either waste time struggling with agents getting price quotes or use the internet to get rate quotes. There are both good and bad ways to buy auto insurance and we’ll show you the best way to quote coverages for a Toyota and find the best price possible either online or from local insurance agents.

The best way to get rate comparisons is to understand most of the bigger providers allow for online access to quote your coverage. The one thing you need to do is provide the companies a bit of rating information like how much school you completed, how old drivers are, deductibles desired, and the year, make and model of vehicles. That information is then sent to multiple top-rated companies and you will get price comparisons instantly.

Discounts are available to cut your rates

Companies don’t always list all their discounts in an easy-to-find place, so we break down some of the best known as well as the least known ways to save on insurance coverage. If they aren’t giving you every credit possible, you’re just leaving money on the table.

  • Government Employees – Active or retired federal employment could cut as much as 10% off for Corolla insurance depending on your company.
  • Multiple Cars – Having all your vehicles on one policy may reduce the rate for each vehicle.
  • Theft Prevention System – Cars that have factory anti-theft systems help deter theft and earn discounts up to 10%.
  • Multiple Policy Discount – If you have multiple policies with one insurance company you may earn 10% to 20% off each policy.
  • Braking Control Discount – Vehicles with anti-lock braking systems can reduce accidents and earn discounts up to 10%.
  • Service Members Pay Less – Having a deployed family member could be rewarded with lower premiums.
  • Organization Discounts – Affiliation with a civic or occupational organization could trigger savings when shopping for insurance coverage for Corolla insurance.
  • New Car Discount – Insuring a new car is cheaper because new vehicles have to meet stringent safety requirements.

Consumers should know that most credits do not apply to all coverage premiums. Most cut the cost of specific coverages such as medical payments or collision. Even though it may seem like all those discounts means the company will pay you, companies don’t profit that way.

Companies that possibly offer these discounts may include but are not limited to:

Check with all companies you are considering which discounts they offer. Savings might not apply in your state.

Everyone needs different coverages

When buying the best insurance coverage, there really is no single plan that fits everyone. Everyone’s situation is unique.

For instance, these questions might help in determining if you could use an agent’s help.

  • What is high-risk coverage and where do I buy it?
  • Why do I need rental car insurance?
  • Should I have combined single limit or split liability limits?
  • Why am I required to get a high-risk car insurance policy?
  • What is roadside assistance coverage?
  • Do I have coverage when making deliveries for my home business?
  • Who is covered when they drive my 2001 Toyota Corolla?
  • Is my teenager covered with friends in the car?
  • Can my teen drive my company car?
  • What can I do if my company denied a claim?

If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form. It is quick, free and can help protect your family.

Factors that might impact rates for a Toyota Corolla

An important part of buying insurance is that you know the different types of things that help determine your insurance rates. When you know what positively or negatively controls the rates you pay helps enable you to make changes that will entitle you to much lower annual insurance costs.

The following are some of the items that factor into prices.

  • Rate your vehicle for proper use – The higher the mileage driven each year the more you will pay for insurance. The majority of insurers charge to insure your cars determined by how the vehicle is used. Cars and trucks that are left in the garage receive lower rates compared to those used for work or business. Having the wrong rating on your Corolla may be costing you. Verify your insurance declarations sheet properly reflects the correct usage for each vehicle, because improper ratings can cost you money.
  • Your age impacts your rates – Young drivers are statistically proven to be careless and easily distracted when behind the wheel so insurance rates are higher. Older insureds are more cautious drivers, tend to file fewer claims and receive fewer citations.
  • Too many insurance claims drive up costs – If you tend to file frequent claims, you can definitely plan on either higher rates or even cancellation. Car insurance companies give lower rates to insureds who file claims infrequently. Car insurance is intended for major claims that would cause financial hardship.
  • Extra add-on coverages are wasting money – There are a ton of additional coverages that you can buy on your insurance policy. Coverages for rental car reimbursement, towing coverage and motor club memberships are some examples. They may seem good at first, but if you don’t need them eliminate them to save money.
  • Where you live – Choosing to live in a small town has it’s advantages when talking about insurance. Lower population means a lower chance of having an accident as well as less vandalism and auto theft. Drivers in populated areas have congested traffic and longer commutes to work. More time commuting means higher likelihood of an accident.

Misconceptions in insurance coverage advertisements

Drivers can’t ignore all the ads for the lowest price auto insurance from the likes of Allstate and Progressive. They all have a common claim about savings if you change your coverage to them.

How does each company say the same thing?

Different companies have a preferred profile for the right customer that is profitable for them. An example of a driver they prefer might be over the age of 40, has no tickets, and chooses high deductibles. Any new insured who matches those parameters is entitled to the best price and most likely will pay quite a bit less when switching companies.

Consumers who do not match this ideal profile will be quoted higher premiums and ends up with business going elsewhere. Company advertisements say “drivers who switch” not “people who quote” save that kind of money. That is how companies can make the claims of big savings. This emphasizes why it’s extremely important to compare as many rates as you can. It’s impossible to know the company that will provide you with the cheapest Toyota Corolla insurance rates.

Insurance coverage breakdown

Learning about specific coverages of insurance helps when choosing the right coverages and proper limits and deductibles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your Toyota Corolla.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family.

Medical payments and PIP coverage

Med pay and PIP coverage kick in for bills for things like pain medications, nursing services, rehabilitation expenses, ambulance fees and chiropractic care. They are often utilized in addition to your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Comprehensive auto coverage

This pays for damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as falling objects, rock chips in glass and hitting a bird. The most your insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Collision protection

Collision insurance covers damage to your Corolla caused by collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things like scraping a guard rail, driving through your garage door and damaging your car on a curb. Collision is rather expensive coverage, so consider dropping it from older vehicles. Another option is to bump up the deductible to bring the cost down.

Liability coverage

Liability insurance provides protection from damage or injury you incur to people or other property by causing an accident. It protects YOU from legal claims by others, and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability coverage pays for claims like medical services, funeral expenses, structural damage, repair bills for other people’s vehicles and repair costs for stationary objects. How much liability coverage do you need? That is your choice, but buy as high a limit as you can afford.

Save your cold hard cash

The cheapest 2001 Toyota Corolla insurance is attainable from both online companies and with local insurance agents, and you need to price shop both to have the best rate selection. Some insurance providers do not offer online quoting and most of the time these regional insurance providers sell through independent agents.

As you restructure your insurance plan, it’s not a good idea to skimp on coverage in order to save money. In many instances, an accident victim reduced full coverage only to discover later that the few dollars in savings costed them thousands. The proper strategy is to buy the best coverage you can find at a price you can afford, not the least amount of coverage.

Consumers switch companies for a number of reasons such as high rates after DUI convictions, denial of a claim, an unsatisfactory settlement offer or unfair underwriting practices. Regardless of your reason, finding a great new company can be easier than you think.

Much more information about insurance coverage can be read at these links:

Rates by U.S. City

2001 Toyota Corolla Insurance Rates by City
City Premium
New York City, NY $1,407
Los Angeles, CA $1,518
Philadelphia, PA $1,187
Jacksonville, FL $1,290
Phoenix, AZ $1,033
Chicago, IL $1,192
Houston, TX $1,391
Seattle, WA $867
Columbus, OH $745
Indianapolis, IN $757

Need a specific model?

Choose your model and trim below

Rates by Driver Age

2001 Toyota Corolla Insurance Rates by Driver Age
Driver Age Premium
16 $3,666
20 $2,038
30 $900
40 $888
50 $818
60 $800

Full coverage, $500 deductibles

Rates by Deductible

2001 Toyota Corolla Insurance Rates with Different Deductibles
Deductible Premium
$100 $1,012
$250 $956
$500 $888
$1,000 $822

Full coverage, driver age 40

Rates by Liability Limit

Toyota Corolla Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $888
50/100 $976
100/300 $1,087
250/500 $1,374
100 CSL $1,021
300 CSL $1,264
500 CSL $1,441

Full coverage, driver age 40

Rates for High Risk Drivers

2001 Toyota Corolla Insurance Rates for High Risk Drivers
Age Premium
16 $5,140
20 $3,244
30 $1,918
40 $1,908
50 $1,826
60 $1,808

Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident

If a financial responsibility filing is required, the additional charge below may also apply.

SR-22 Surcharge $117

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $44
Multi-vehicle $48
Homeowner $16
5-yr Accident Free $51
5-yr Claim Free $55
Paid in Full/EFT $30
Advance Quote $38
Online Quote $58
Total Discounts $340
Rate after discounts $548

Discounts are estimated and may not be available from every company or in every state.

Find companies with the cheapest rates in your area

2001 Toyota Corolla Insurance Rates by State
State Premium
Alabama $804
Alaska $682
Arizona $738
Arkansas $888
California $1,012
Colorado $848
Connecticut $914
Delaware $1,006
Florida $1,112
Georgia $820
Hawaii $638
Idaho $602
Illinois $662
Indiana $670
Iowa $600
Kansas $846
Kentucky $1,212
Louisiana $1,318
Maine $548
Maryland $734
Massachusetts $714
Michigan $1,544
Minnesota $744
Mississippi $1,066
Missouri $788
Montana $956
Nebraska $702
Nevada $1,066
New Hampshire $640
New Jersey $994
New Mexico $786
New York $938
North Carolina $510
North Dakota $728
Ohio $616
Oklahoma $914
Oregon $814
Pennsylvania $848
Rhode Island $1,186
South Carolina $804
South Dakota $750
Tennessee $780
Texas $1,070
Utah $660
Vermont $608
Virginia $532
Washington $688
West Virginia $814
Wisconsin $616
Wyoming $792

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