Compare Canada’s cheapest Toyota car insurance rates
Save big on car insurance by comparing quotes from top providers and secure the best rate in minutes
Jump straight to...
- Insuring your Toyota vehicle in Canada
- How much is it to insure a Toyota vehicle for a young driver?
- How much is it to insure a Toyota for an experienced driver?
- Which Toyota model is the cheapest to insure?
- How much can a traffic ticket or an accident raise your insurance?
- How to get cheaper car insurance for your Toyota
- Should you buy or lease your Toyota?
- Which Toyota model is considered safest?
- Protecting your car with Toyota’s services
Insuring your Toyota vehicle in Canada
Toyotas are generally reliable and well-built and have a reputation for holding their value in the used market. No wonder the brand's rated as one of the top ten most reliable car brands (overall) by Consumer Reports. (Second spot in terms of used car reliability.)
Knowing a car company's reputation may help you estimate your insurance costs; along with theft risk and vehicle cost, car brand and type do indeed influence car insurance rates. Given that Toyota is such top-tier brand, does that mean that its insurance rates are low as a result? Let's find out.
How much is it to insure a Toyota vehicle for a young driver
If you've ever wondered why car insurance seems to be so expensive for young drivers – whether they are driving a Toyota or another vehicle – you're not alone. Here are some of the reasons:
Risk assessment and statistics: Insurance companies base their rates on risk, and statistically, young drivers are considered higher risk. For example, drivers under 25 are more likely to be involved in accidents than older drivers. This isn't just a stereotype; it's backed by data showing higher accident rates among younger age groups. Your Toyota vehicle may be a the top in terms of safety ratings, but it can't make you a less risky driver (for now, at least).
Lack of driving experience: Another factor is experience, or rather, the lack of it. Young drivers simply haven't been on the road as long as their older counterparts. This means they haven't had as much time to develop safe driving habits. Think about it: the more you practice something, the better you get at it. The same goes for driving.
Tendency for riskier behaviour: Young people are also more prone to engage in risky driving behaviors. This can include speeding, not wearing seat belts, or using mobile phones while driving. These behaviors increase the likelihood of accidents, which in turn raises insurance rates.
Higher claim rates: A study from Aviva claims that young drivers are 41% more likely to make claims than experienced drivers, whether it's for minor fender benders or more serious accidents. More claims mean higher costs for insurance companies, which they offset by charging higher premiums.
To reduce these costs, consider developing safer driving habits, selecting cars in lower insurance groups and looking into discounts can all make a big difference.
Age | Insurance cost range |
|---|---|
18 | $9,771 - $13,839 |
19 | $8,089 - $10,680 |
20 | $7,589 - $9,216 |
21 | $6,880 - $7,306 |
22 | $5,712 - $6,516 |
23 | $5,291 - $6,012 |
24 | $5,068 - $5,832 |
25 | $4,297 - $4,908 |
How to get a car insurance quote
Four easy steps to compare quotes from 50+ insurance companies in five minutes or less
Enter Postal Code
Enter your postal code to begin!
Enter Driver Details
Tell us a little bit about your vehicle, driving & car insurance history.
Compare Quotes
Compare your car insurance quotes from more than 50 top insurance companies.
Pick Your Policy
Pick the insurance policy that's right for you to connect directly with the insurance professional of your choice.
How much is it to insure a Toyota vehicle for an experienced driver
When it comes to insuring your Toyota, even experienced drivers may find their premiums vary depending on several factors. While having a clean driving record and years of experience usually helps lower your rates, other factors can still make a big difference in what you pay.
Here's what they are:
Age and driving experience: Insurance premiums are generally lowest for drivers in their 30s, 40s and 50s. That said, premiums can begin to climb for those in their 60s or 70s as factors like health issues or slower reflexes come into play.
Toyota model: When it comes to affordability, the Toyota 4Runner is a cost-effective choice for insurance, thanks to its dependable design and lower repair costs. On the other hand, vehicles such as the Toyota Highlander or Land Cruiser often come with steeper insurance premiums due to their size, complexity and higher repair bills.
Driving record: A spotless driving record often leads to lower insurance premiums. On the other hand, recent accidents or traffic infractions can result in higher costs, no matter how long you’ve been on the road.
How much you drive: Your annual mileage impacts your premium. If you frequently use your Toyota for long trips or daily commutes, your risk of being in an accident is higher, leading to higher rates. On the flip side, if you don’t drive much, you could be eligible for a low-mileage discount.
Where you live: Your location matters a lot when it comes to insurance. Living in a high-traffic area or somewhere with high crime rates, including thefts, can raise your premiums. The Toyota Highlander, for example, was the number one car stolen in Canada in 2023, and with higher theft rates comes higher insurance.
Safety features: Many newer Toyotas, like the Camry or RAV4, come equipped with advanced safety technologies such as lane-departure warnings and automatic emergency braking. Vehicles with these safety features may qualify for discounts because they help reduce the likelihood of accidents.
Age | Insurance Cost Range |
|---|---|
30 | $3,184 - $4,068 |
35 | $2,965 - $3,523 |
40 | $2,714 - $3,308 |
45 | $2,394 - $3,180 |
50 | $2,249 - $3,036 |
55 | $2,174 - $2,846 |
60 | $2,140 - $2,748 |
65 | $2,128 - $2,653 |
Methodology
The table above outlines the average cost of car insurance in Toronto for a female G-licensed policyholder driving a 2023 TOYOTA CAMRY SE 4DR. Using our rate calculator, we calculated average auto insurance premiums by age, assuming the driver has a clean driving record. All ranges and averages presented represent the three lowest quotes offered. The insurance policies used for comparison include $1,000,000 in coverage, along with a $1,000 deductible for both collision insurance and comprehensive insurance.
It’s important to note that these quoted rates are specific to this driver profile. You are more likely to find rates at the lower end of the provided range by comparing quotes from different providers and selecting the one that offers the best value for your needs.
Disclaimer
Auto insurance rates are influenced by a variety of factors, including (but not limited to) your postal code, driving history, the specific make and model of the vehicle, additional safety features, whether you attended driving school, and more. This means the premiums for individuals with different circumstances may vary significantly from the rates shown here. Always compare personalized quotes to ensure you're getting the best coverage at the best price.
We've got hundreds of 5 star reviews
2,175 reviews on TrustPilot. See some of the reviews here.
4 days 9 hours ago Dong Do
1 week 1 day ago Jojo
1 week 2 days ago Louis Triantafillou
1 week 6 days ago SYED IMAM
2 weeks 1 day ago Mi
2 weeks 6 days ago Felipe Cespon
3 weeks 1 day ago Ana Garcia
4 weeks ago James Murphy
1 month ago Pratap
1 month 1 week ago customer
1 month 1 week ago Robert Rasmussen
1 month 3 weeks ago Edica Sasenarine
Which Toyota model is the cheapest to insure?
If you're looking for a budget-friendly compact SUV to insure, the Toyota RAV4 is a fantastic option. On average, insuring a Toyota RAV4 costs around $2,788 per year, which is significantly lower than many other compact SUVs. Combined with its relatively low MSRP, it almost makes the RAV4 a steal.
But why is it so affordable? Several factors contribute to the lower insurance costs for the Toyota RAV4:
Safety features: The RAV4 comes equipped with a range of safety features, including advanced airbags, stability control and anti-lock brakes. These features reduce the likelihood of accidents and injuries, which in turn lowers insurance premiums.
Reliability: Toyota vehicles are known for their reliability and durability. The RAV4 has a strong track record of fewer claims and repairs, making it less risky for insurers.
Repair costs and demand for parts: The cost of repairs and part availability play a major role. For example, your premium for RAV4 Hybrid might be higher due to the cost of its hybrid-specific parts. Complex components like the battery system or electric drivetrain are cost more to fix or replace than on the standard RAV4, which has more common and accessible parts.
Performance and risk levels: Thanks to the RAV4's reputation as a reliable and practical compact SUV, insurers view it as having a lower-risk profile. Its widespread popularity also means insurers have detailed data on how it performs on the road and how often it’s involved in claims. The RAV4 is engineered for versatility and safety rather than speed or excessive power, which reduces the likelihood of high-cost claims.
Driver profile and intended use: The RAV4 designed with low-risk drivers in mind, such as families, young professionals and commuters. This usually translates to lower premiums for the vehicle, even if it's used for purposes not intended for it, such as carrying heavy equipment, off-roading or driving at high speeds (though filing a claim for related damage could hike up your premium).
Vehicle | Insurance cost range |
|---|---|
Toyota RAV4 | $2,788 - $3,216 |
Toyota Sienna | $2,942 - $3,408 |
Toyota Prius | $3,037 - $3,105 |
Toyota Corolla | $3,223 - $3,576 |
Toyota Tacoma | $3,449 - $4,530 |
Toyota Camry | $4,349 - $4,349 |
Toyota 4Runner | $4,464 - $4,996 |
Toyota Tundra | $5,732 - $6,546 |
Toyota Highlander | $6,015 - $6,880 |
Methodology
The table above presents insurance cost ranges for some of the most popular 2023 Toyota models, calculated specifically for a Toronto-based, G-licensed, 35-year-old female driver. Using our rate calculator, we determined these costs by comparing the three cheapest quotes available for each model. This driver profile assumes a clean driving record and standard coverage, which includes $1,000,000 in liability coverage as well as a $1,000 deductible for both collision and comprehensive insurance.
By focusing on the most affordable quotes from various providers, the ranges provide a clear picture of what drivers with similar profiles can expect to pay. Selecting quotes from the lower end of the range can help you secure the best value for your insurance policy while still providing adequate coverage.
Disclaimer
Insurance premiums depend on many variables, such as your driving history, the vehicle's make and model, additional safety features, your postal code, and more. The rates shown here are specific to the outlined driver profile and may differ from costs for individuals with different circumstances or coverage needs. Always compare personalized quotes across providers to ensure you find the best rates and coverage tailored to your situation.
How much can a traffic ticket or accident raise your insurance?
Your driving history affects how much you pay for car insurance, whether you're driving a RAV4 or a Prius. Even one accident can make your insurance cost go up because insurance companies see you as more likely to have another accident.
If you have accident forgiveness as part of your policy, your insurer may not raise your rates after your first at-fault accident. This feature helps protect drivers from big price jumps and offers peace of mind. However, it’s not always included automatically, so it’s a good idea to check your policy or ask your insurer if it’s an option you can add.
Here are some of the possible changes you might see in insurance rates, based on major convictions and at-fault accidents:
Age | Major convictions | At-fault accidents | Insurance cost range |
|---|---|---|---|
30 | None | None | $3,184 - $4,068 |
None | 1 | $6,224 - $7,067 | |
1 | None | $6,741 - $8,068 | |
1 | 1 | $15,445 - $21,382 | |
35 | None | None | $2,965 - $3,523 |
None | 1 | $6,014 - $6,648 | |
1 | None | $6,504 - $7,200 | |
1 | 1 | $14,912 - $19,400 | |
40 | None | None | $2,714 - $3,308 |
None | 1 | $5,879 - $6,468 | |
1 | None | $4,936 - $7,008 | |
1 | 1 | $14,665 - $19,400 | |
45 | None | None | $2,394 - $3,180 |
None | 1 | $5,875 - $6,456 | |
1 | None | $4,305 - $6,948 | |
1 | 1 | $14,595 - $19,247 | |
50 | None | None | $2,249 - $3,036 |
None | 1 | $5,729 - $6,312 | |
1 | None | $4,026 - $6,816 | |
1 | 1 | $14,637 - $17,902 | |
55 | None | None | $2,174 - $2,846 |
None | 1 | $4,956 - $5,997 | |
1 | None | $3,877 - $5,904 | |
1 | 1 | $14,997 - $17,178 | |
60 | None | None | $2,140 - $2,748 |
None | 1 | $4,823 - $5,740 | |
1 | None | $3,809 - $5,760 | |
1 | 1 | $14,564 - $16,842 | |
65 | None | None | $2,128 - $2,653 |
None | 1 | $4,550 - $5,634 | |
1 | None | $3,785 - $5,436 | |
1 | 1 | $14,228 - $16,738 |
Methodology
The table provides a comparison of average car insurance premiums in Toronto for a female G-licensed driver operating a 2023 TOYOTA CAMRY SE 4DR. The analysis includes two driving profiles: one for drivers with clean records, meaning no major convictions or at-fault accidents, and another for drivers with one at-fault accident, one major conviction, or both. Using a rate calculator, we determined the average premiums across different age groups by selecting the three lowest quotes from leading insurance providers. The insurance coverage considered includes $1,000,000 in liability coverage and a $1,000 deductible for both collision and comprehensive insurance. For drivers with at-fault accidents or convictions, premiums were adjusted based on the additional risk weighted by insurers, leading to higher quotes for that group.
Disclaimer
It is important to note that the rates listed are specific to this driver and vehicle profile and may vary significantly based on individual circumstances. Factors such as postal code, claims history, specific vehicle features, and even completion of a recognized driving school course can influence premiums. To ensure the best value, it is essential to obtain personalized quotes from multiple providers, as rates and coverage offerings can differ substantially depending on how each insurer evaluates risk. Comparing quotes allows drivers to find the most suitable and cost-effective insurance for their unique needs.
How to get cheaper car insurance for your Toyota
Toyota owners have several ways to save on insurance. For instance, bundling your car insurance with other policies like home insurance could help you get discounts. Or, you could consider a telematics program that rewards safe driving habits. Taking a certified driving course is another option that might lower your rates. Take some time to explore all the choices available to you.
Here are some ways you can get cheaper car insurance
Bundling policies
Bundling your auto and home insurance—or combining other policies like tenant or condo insurance—can significantly reduce your premiums. Insurance companies appreciate customer loyalty and often reward it with discounts. Savings can reach up to 20% or more. By taking advantage of this, you not only simplify your insurance management but also save a chunk of change.
Multi-vehicle discount
If your household has more than one car, insuring them under the same policy can lead to big savings. This is because insurers offer discounts (up to 15%) for placing multiple vehicles together under one account. It’s an easy win for families or households with multiple drivers, as it combines coverage while cutting costs.
Loyalty discounts
Insurance companies love loyal customers, and they often show it by reducing premiums for those who stick with them year after year. The longer you stay, the more you save—it can range from 5% after one year to as much as 10% for a decade of loyalty. If you’re happy with your insurer and their service, this discount is an excellent perk.
Higher deductibles
Choosing a higher deductible (the amount you pay out of pocket in a claim) can reduce your annual premiums by 5-10%. While the trade-off means you’d pay more in case of an accident, it’s a smart option for drivers who are confident in their safe-driving habits and want lower upfront costs.
Paying annually
Paying your entire premium in one annual payment instead of monthly installments can save you money by avoiding administrative or installment fees. While it requires a larger payment upfront, it’s a simple way to cut down on overall costs.
Telematics programs
Telematics are devices which can be added to you car or through a mobile app, which monitor your driving habits, such as speed, braking and mileage, rewarding safe drivers with lower premiums. They offer benefits like fairer rates for low-mileage drivers, personalized discounts and improved driving awareness. To maximize savings, you should focus on consistent safe driving, reduce high-risk night trips and choose a telematics program that best fits your needs.
Winter tires
Installing winter tires is not only smart for safely navigating Canada’s icy roads, but it can also reduce your premiums by 2%-5%. Some provinces, like Ontario, even require insurers to offer this discount. If you regularly switch to winter tires, make sure your insurer knows about it.
Anti-theft devices
Vehicles with anti-theft systems, like alarms or tracking devices, are less likely to be stolen, and insurers recognize this by offering discounts up to 15%. If your car doesn’t come with built-in anti-theft features, consider installing an aftermarket system to take advantage of this savings opportunity.
Should you buy or lease your Toyota?
Choosing between buying or leasing a Toyota can be a practical decision. Each option has its own advantages, depending on your driving habits and budget. Leasing can mean lower monthly payments but comes with mileage limits, while buying gives you full ownership but may cost more upfront. It’s all about finding what works best for you.
Here's a list of advantages and disadvantages to help you make the right call regarding your potential Toyota vehicle:
Leasing
Advantages:
- Latest technology included: Leasing lets you experience Toyota’s innovative hybrid technology and advanced safety features, like the RAV4 Hybrid’s efficiency or the Camry’s Toyota Safety Sense package.
- Lower monthly payments: Compared to buying, leases often have more affordable monthly payments, making it easier to drive higher-priced models like the Highlander or Sequoia.
- Warranty coverage: Most leases align with Toyota’s factory warranty, so you won’t have to worry about unexpected repair costs during your lease term.
- Flexibility: Leasing is great if you plan to upgrade your car every few years, ensuring you always have the latest design and features, whether it’s an electrified Prius or a fully loaded Tundra.
- GAP insurance: Should you suffer total loss or theft of your vehicle, Toyota will pay the difference between what is owed on the remainder of your lease and the amount of your lease insurance settlement, after you pay the deductible. Toyota offers this in all of its lease contracts.
Disadvantages:
- Mileage limitations: If you’re planning cross-country road trips in a 4Runner or Tacoma, be mindful of mileage caps that could result in additional charges.
- No equity: Since you don’t own the car, you won’t build or retain any resale value at the end of your lease.
- Customization restrictions: Modifications to leased vehicles are generally not allowed, limiting personalization options.
- Termination fees: Opting out of a lease early can come with costly penalties, so make sure you’re committed to the lease term.
- Minimum insurance requirements: Toyota requires your policy to include third-party liability with a combined single occurrence limit of $1,000,000, comprehensive fire and theft coverage (deductible of no more than $1,000) and collision coverage (deductible of no more than $1,000).
Buying
Advantages:
- Durability built in: Toyota vehicles like the Camry and Tacoma are renowned for their ability to last hundreds of thousands of miles, making them excellent ownership investments.
- No mileage restrictions: If you use your RAV4 for family vacations or your Tacoma for work, you can drive as much as you need without worrying about penalties.
- Resale value: Toyotas hold their value remarkably well, meaning you can recover significant costs when you’re ready to sell or trade in your vehicle.
Customization freedom: Owning means you can make your Toyota uniquely yours, whether it’s adding off-road gear to a 4Runner or upgrading wheels on a Corolla. - Long-term savings: Keeping your Toyota for years can prove more cost-effective than leasing, as you eliminate recurring lease payments.
Disadvantages:
- Higher upfront expense: Between down payments and financing, buying a Toyota typically requires more money upfront compared to leasing.
- Maintenance costs: Once the warranty expires, repairs and maintenance, become your responsibility, especially for including hybrid battery replacements for models like the Prius or Corolla Hybrid.
- Depreciation: Although Toyotas are known for their strong resale value, all vehicles depreciate over time, which can affect your long-term investment.
Which Toyota model is considered the safest?
If you want a safe and reliable car, consider the 2025 Toyota Camry. This midsize 4-door sedan has been recognized by the Insurance Institute for Highway Safety (IIHS) as one of the safest cars. It performed well in crash tests, including small overlap front, moderate overlap front, and side impact tests. The Camry also has useful safety features like blind spot detection and lane departure warning, which help prevent accidents. Additionally, its front crash prevention systems can detect other vehicles and pedestrians, adding extra safety.
Category | Evaluation criteria | Rating |
|---|---|---|
Crashworthiness | Small overlap front | G |
Moderate overlap front: updated test | G | |
Side: updated test | G | |
Crash avoidance & mitigation | Headlights | A |
Front crash prevention: vehicle-to-vehicle 2.0 (Standard system) | G | |
Seat belts & child restraints | Seat belt reminders | G |
LATCH ease of use | G | |
Other available safety features
| ||
Source: The Insurance Institute for Highway Safety
Protecting your car with Toyota’s services
Toyota offers multiple ways to protect your car before insurance is even necessary – whether you’re leasing or buying it. Here are some of them:
New vehicle warranty and coverage
If you’re buying a new Toyota vehicle provides a 36-month/60,000-km limited warranty coverage for every new vehicle. There’s also extended warranty, including:
- Powertrain warranty: 60 months/100,000 km
- Hybrid-related component coverage: 96 months/160,000 km
- Hybrid battery: 120 months/240,000 km
Toyota Roadside Assistance
Toyota’s Road Assistance Program provides 36-month/unlimited-km coverage for those who might require emergency road service, or if their vehicle encounters a breakdown.
