2020 Toyota Corolla Insurance Rates
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UPDATED: Nov 22, 2021
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Average insurance rates for a 2020 Toyota Corolla are $1,374 a year with full coverage. Comprehensive costs around $282 each year, collision insurance costs $536, and liability insurance costs around $398. Buying a liability-only policy costs as low as $460 a year, and high-risk insurance costs around $2,982. Teenage drivers receive the highest rates at up to $5,156 a year.
Annual premium for full coverage: $1,374
Rate estimates for 2020 Toyota Corolla Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2020 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 $460 for basic liability insurance to a high rate of $2,982 for a driver that may need high-risk insurance.
These differences demonstrate why all drivers should compare prices for a specific zip code and risk profile, rather than relying 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 2020 Toyota Corolla Insurance
Looking for lower car insurance rates for your Toyota Corolla? Do you get frustrated by the number of car insurance sources available to you? Lot’s of other people are too. There are so many sources available that it can really be a difficult mission to find lower premium rates.
It’s a good idea to compare prices at least once a year since prices change frequently. Just because you had the lowest rates for Corolla coverage a year ago you will most likely find a better rate quote today. Block out anything you think you know about car insurance because you’re going to get a crash course in one of the easiest ways to find better rates and still maintain coverage.
How to buy insurance coverage
Most of the larger companies allow consumers to get price estimates directly from their websites. Comparing rates online is fairly straightforward as you just type in your personal and coverage information into the quote form. When complete, the company’s rating system gets reports for credit and driving violations and gives you a price quote.
Online quotes makes it a lot easier to compare rates but the process of having to visit different websites and type in the same information gets old quite quickly. But it is imperative to do this in order to get the lowest price.
The quickest way to compare rates makes use of a single form that obtains quotes from a lot of companies. It saves time, requires less work, and makes rate comparisons much easier. Immediately after submitting the form, your coverage is rated and you can choose your choice of the quotes returned. If the quotes result in lower rates, you simply finish the application and buy the policy. The whole process takes just a few minutes to complete and you will know how your current rates stack up.
To compare rates using this form now, simply enter your zip code here and enter your information. If you have coverage now, it’s recommended that you enter as close as possible to your current policy. Using the same limits helps guarantee you will receive rate comparison quotes for exact coverage.
Lower rate quotes by getting discounts
Some companies don’t list the complete list of policy discounts very well, so the following is a list of both well-publicized and also the more inconspicuous discounts that you may qualify for.
- Driver’s Ed – Cut your cost by having your teen driver enroll and complete driver’s education as it will make them better drivers and lower rates.
- One Accident Forgiven – Not necessarily a discount, but some companies like GEICO, Allstate and Liberty Mutual will allow you to have one accident before they charge you more for coverage if you have no claims for a certain period of time.
- Federal Government Employee – Federal government employees could qualify for a slight premium decrease for Corolla coverage depending on your insurance provider.
- Accident Free – Claim-free drivers pay less as opposed to insureds who have frequent claims or accidents.
- Discounts for Good Drivers – Drivers who avoid accidents can save up to 40% or more on their auto insurance quote for Corolla coverage compared to rates paid by drivers with frequent claims.
- Military Deployment Discount – Being on active duty in the military may qualify for rate reductions.
- Smart Student Discounts – A discount for being a good student can get you a discount of up to 25%. You can use this discount normally until age 25.
- Driving Data Discount – Insureds who allow data collection to look at where and when they drive by using a telematics device like In-Drive from State Farm and Progressive’s Snapshot may get a rate reduction if they show good driving skills.
Policy discounts save money, but some credits don’t apply to the overall cost of the policy. Most only reduce specific coverage prices like comp or med pay. Just because it seems like you would end up receiving a 100% discount, you aren’t that lucky. Any amount of discount should help lower your overall premium however.
Companies that may offer quotes with some of the above discounts include:
- The Hartford
- American Family
- Farmers Insurance
- Liberty Mutual
Before purchasing a policy, check with every company to apply every possible discount. Some discounts listed above may not be available in your state.
Your auto insurance coverage should be tailored to you
When it comes to buying coverage, there is no perfect coverage plan. Coverage needs to be tailored to your specific needs.
Here are some questions about coverages that may help you determine if you may require specific advice.
- What is UM/UIM insurance?
- Am I covered if my car is in a flood?
- At what point should I drop full coverage?
- When would I need rental car insurance?
- I don’t drive much so do I pay less?
- Is a new car covered when I drive it off the dealer lot?
If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to an insurance agent. To find an agent in your area, simply complete your zip code.
Insurance coverages 101
Having a good grasp of insurance aids in choosing the right coverages and the correct deductibles and limits. Insurance terms can be ambiguous and nobody wants to actually read their policy.
Medical payments coverage and PIP – Med pay and PIP coverage pay for immediate expenses for things like X-ray expenses, nursing services, surgery, chiropractic care and dental work. They are used to fill the gap from your health insurance program or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay
Comprehensive coverage – This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims like hitting a bird, damage from getting keyed, rock chips in glass and hail damage. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and damage to your 2020 Toyota Corolla.
Since a lot of 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 very important.
Collision coverages – Collision coverage will pay to fix damage to your Corolla resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things such as driving through your garage door, backing into a parked car, colliding with a tree, crashing into a ditch and hitting a mailbox. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to raise the deductible in order to get cheaper collision rates.
Liability coverage – Liability coverage protects you from injuries or damage you cause to other’s property or people that is your fault. It protects YOU from legal claims by others, and does not provide coverage for damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 100/300/100 that translate to a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000.
Liability insurance covers things like pain and suffering, funeral expenses, attorney fees, court costs and medical expenses. How much coverage you buy is a decision to put some thought into, but you should buy as much as you can afford.
Rates by U.S. City
|New York City, NY||$2,172|
|Los Angeles, CA||$2,352|
Need a specific model?
Choose your model and trim below
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
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.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$102|
|5-yr Claim Free||$89|
|Paid in Full/EFT||$63|
Discounts are estimated and may not be available from every company or in every state.