Toyota Corolla iM Insurance Rates
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UPDATED: May 1, 2024
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Average insurance prices for a Toyota Corolla iM are $1,268 every 12 months including full coverage. Comprehensive costs an estimated $230 a year, collision costs $424, and liability coverage costs around $456. A policy with just liability insurance costs as low as $508 a year, with coverage for high-risk drivers costing around $2,750. 16-year-old drivers receive the highest rates at $4,904 a year or more.
Average premium for full coverage: $1,268
Rate estimates broken down by individual coverage type:
Full coverage includes $500 comprehensive and collision deductibles, liability limits of 30/60, and includes uninsured motorist and medical coverage. Rates are averaged for all 50 U.S. states and Corolla iM trim levels.
Price Range by Coverage and Risk
For the average 40-year-old driver, prices range go from the cheapest price of $508 for the bare minimum liability coverage to a high of $2,750 for a driver that may need high-risk insurance.
Price Range by Location
Where you live has a large influence on the price of auto insurance. More rural locations tend to have more infrequent comprehensive and collision claims than congested cities.
The diagram below illustrates the difference location can make on insurance prices.
These examples highlight why it is important to compare prices for a targeted area and their own driving history, rather than using rate averages.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Additional Rate Information
The chart below breaks down estimated Toyota Corolla iM insurance rates for other coverage scenarios.
- The best full coverage rate is $737
- Using higher $1,000 deductibles will save approximately $1,118 every year
- The average price for a 40-year-old driver who has $500 deductibles is $1,268
- Buying low $100 deductibles for physical damage coverage increases the price to $1,554
- Higher-risk drivers with multiple tickets or accidents could pay up to $2,750 or more
- The cost to insure a teenage driver can cost as much as $4,904 or more
Insurance rates for a Toyota Corolla iM can also vary considerably based on policy deductibles and limits, your driving characteristics, and the model year and trim level.
Opting for high physical damage deductibles could cut rates by as much as $440 a year, while buying higher liability limits will increase premiums. Changing from a 50/100 liability limit to a 250/500 limit will cost as much as $411 more each year. View Rates by Deductible or Liability Limit
Older drivers with no violations or accidents and higher deductibles may only pay around $1,200 a year for full coverage. Rates are highest for teen drivers, since even excellent drivers should be prepared to pay at least $4,900 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are likely paying $1,500 to $2,100 additional per year, depending on your age. A high-risk auto insurance policy can be around 43% to 132% more than the average rate. View High Risk Driver Rates
Where you live has a huge impact on Toyota Corolla iM insurance rates. A driver around age 40 might see rates as low as $970 a year in states like Vermont, New Hampshire, and Missouri, or at least $1,810 on average in Louisiana, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,146 | -$122 | -9.6% |
| Alaska | $972 | -$296 | -23.3% |
| Arizona | $1,052 | -$216 | -17.0% |
| Arkansas | $1,268 | -$0 | 0.0% |
| California | $1,444 | $176 | 13.9% |
| Colorado | $1,210 | -$58 | -4.6% |
| Connecticut | $1,302 | $34 | 2.7% |
| Delaware | $1,434 | $166 | 13.1% |
| Florida | $1,584 | $316 | 24.9% |
| Georgia | $1,168 | -$100 | -7.9% |
| Hawaii | $910 | -$358 | -28.2% |
| Idaho | $856 | -$412 | -32.5% |
| Illinois | $944 | -$324 | -25.6% |
| Indiana | $954 | -$314 | -24.8% |
| Iowa | $854 | -$414 | -32.6% |
| Kansas | $1,204 | -$64 | -5.0% |
| Kentucky | $1,728 | $460 | 36.3% |
| Louisiana | $1,874 | $606 | 47.8% |
| Maine | $784 | -$484 | -38.2% |
| Maryland | $1,046 | -$222 | -17.5% |
| Massachusetts | $1,014 | -$254 | -20.0% |
| Michigan | $2,202 | $934 | 73.7% |
| Minnesota | $1,060 | -$208 | -16.4% |
| Mississippi | $1,516 | $248 | 19.6% |
| Missouri | $1,124 | -$144 | -11.4% |
| Montana | $1,360 | $92 | 7.3% |
| Nebraska | $998 | -$270 | -21.3% |
| Nevada | $1,518 | $250 | 19.7% |
| New Hampshire | $914 | -$354 | -27.9% |
| New Jersey | $1,414 | $146 | 11.5% |
| New Mexico | $1,120 | -$148 | -11.7% |
| New York | $1,336 | $68 | 5.4% |
| North Carolina | $730 | -$538 | -42.4% |
| North Dakota | $1,036 | -$232 | -18.3% |
| Ohio | $874 | -$394 | -31.1% |
| Oklahoma | $1,302 | $34 | 2.7% |
| Oregon | $1,160 | -$108 | -8.5% |
| Pennsylvania | $1,208 | -$60 | -4.7% |
| Rhode Island | $1,690 | $422 | 33.3% |
| South Carolina | $1,148 | -$120 | -9.5% |
| South Dakota | $1,070 | -$198 | -15.6% |
| Tennessee | $1,108 | -$160 | -12.6% |
| Texas | $1,526 | $258 | 20.3% |
| Utah | $940 | -$328 | -25.9% |
| Vermont | $868 | -$400 | -31.5% |
| Virginia | $760 | -$508 | -40.1% |
| Washington | $978 | -$290 | -22.9% |
| West Virginia | $1,160 | -$108 | -8.5% |
| Wisconsin | $876 | -$392 | -30.9% |
| Wyoming | $1,128 | -$140 | -11.0% |
With so much variability in rates, the best way to figure out which company is cheapest is to get quotes and see how they stack up. Each insurance company utilizes a different rate formula, and rates can be significantly different.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2018 Toyota Corolla iM | $230 | $424 | $456 | $1,268 |
| 2017 Toyota Corolla iM | $220 | $380 | $460 | $1,218 |
Rates are averaged for all Toyota Corolla iM models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Shop for More Affordable Toyota Corolla iM Insurance
Saving money on auto insurance requires having a decent driving record, having above-average credit, not filing small claims, and maximizing policy discounts. Make time to compare rates once a year by requesting rates from direct car insurance companies like GEICO, Progressive, and Esurance, and also from local insurance agencies.
The following items are a summary of the data that was touched on in this article.
- You may be able to save approximately $150 per year simply by quoting early and online
- Consumers who want additional liability coverage will pay around $500 per year to increase from a minimum limit to a 250/500 level
- 16 to 18-year-old drivers are expensive to insure, as much as $409 per month if full coverage is included
- Drivers who have multiple accidents or major violations may have to pay on average $1,480 more annually than a driver with a clean driving record
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $4,904 |
| 20 | $2,938 |
| 30 | $1,308 |
| 40 | $1,268 |
| 50 | $1,160 |
| 60 | $1,138 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $1,554 |
| $250 | $1,420 |
| $500 | $1,268 |
| $1,000 | $1,118 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,268 |
| 50/100 | $1,359 |
| 100/300 | $1,473 |
| 250/500 | $1,770 |
| 100 CSL | $1,405 |
| 300 CSL | $1,656 |
| 500 CSL | $1,838 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $6,970 |
| 20 | $4,684 |
| 30 | $2,796 |
| 40 | $2,750 |
| 50 | $2,630 |
| 60 | $2,608 |
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.
| Discount | Savings |
|---|---|
| Multi-policy | $67 |
| Multi-vehicle | $68 |
| Homeowner | $20 |
| 5-yr Accident Free | $89 |
| 5-yr Claim Free | $82 |
| Paid in Full/EFT | $55 |
| Advance Quote | $61 |
| Online Quote | $89 |
| Total Discounts | $531 |
Discounts are estimated and may not be available from every company or in every state.
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