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Auto insurance can be a significant cost for many American households, and depending on the make and model of your vehicle, the rates can be much higher or lower. The average cost of auto insurance is $ 1,674 per year for full coverage, according to Bankrate’s 2021 Study of Annual Premiums Offered, which is based on the cost of insuring a 2019 Toyota Camry. But in comparison, a Toyota Tacoma costs $ 1,539 to insure annually with full coverage.
While it’s cheaper to insure on average, there are certain nuances in Toyota Tacoma insurance costs that can affect the rate you pay for that make and model. Before choosing a policy for your Tacoma, it may be helpful to consider the variables that help determine the cost of insurance.
Models included in this review:
How much does insurance for a Toyota Tacoma cost?
Toyota Tacoma insurance costs can vary widely depending on the driver and insurer. Nationally, the average price of a Toyota Tacoma is $ 1,539 per year for full coverage, based on premiums offered by Quadrant Information Services. When it comes to drivers, variables such as age, driving record, credit history, and specific zip code are often taken into account when determining premiums. On the vehicle side, things like safety features, collision rates and the cost of repairs can have the most influence on insurance costs.
The crew cab of the 2021 Toyota Tacoma performed well in terms of collision rates with the IIHS. The vehicles obtained the highest possible score on “impact resistance” in all but one section. Collision ratings can influence auto insurance rates by providing insight into the level of financial risk associated with insuring a particular vehicle. Newer Toyota Tacomas have many safety features available, from collision avoidance systems and sensors to airbags. Safety features can help lower auto insurance rates because they reduce the financial risk for the insurer.
The cost of repairing a vehicle is strongly related to the cost of parts, with locally produced parts generally being more affordable. For example, parts for the Toyota Tacoma are manufactured in San Antonio, Texas, and parts of Mexico. In general, the less expensive the parts, the less costly the repairs are estimated, which can amount to lower rates from the insurer.
Auto insurance for a Toyota Tacoma
Toyota Tacoma auto insurance rates can vary between drivers and providers, even if the drivers have the same model of vehicle. This is in part because driver variables such as age, driving record, home address, and credit history are commonly used to calculate fares. Looking at the national average rates can help you determine what the rates might look like when you compare quotes.
The trucks could potentially reflect higher fares than some sedans, but in the case of the Toyota Tacoma, that seems to be offset by its safety features. In general, the more optional security features are used, the better the chances of lower rates. Compared to the national average for vehicles, the Tacoma is slightly cheaper to insure. The cost of parts and available safety features may play a role in this relative affordability, but keep in mind that your specific quote will likely vary from the national average.
| Tacoma Auto Insurance | Average annual premium |
|---|---|
| Minimum coverage | $ 486 |
| Full coverage | $ 1,539 |
Cheapest auto insurance companies for Toyota Tacomas
The companies with the largest market shares have been compared based on Toyota Tacoma pricing to help illustrate how the gaps occur between companies for the same make and model of vehicle. These companies were selected from Bankrate’s picks for the best auto insurance companies for 2021. With a difference of almost $ 300 for these annual rates, it’s easy to see why experts recommend shopping between insurers when the purchase of an automobile policy.
Average annual premium for full coverage per model
Features of Toyota Tacoma That Impact Insurance Costs
While driver-specific variables have a significant impact on pricing, the following Toyota Tacoma features help keep the overall cost of insurance more affordable.
- Cost of parts: The lower cost of repairs may result from the need for fewer imported parts than other vehicles. These lower repair costs can help lower premiums because it means less financial risk for the insurer in the event of an incident.
- Preventing collisions before: With a higher IIHS rating on its front crash prevention system, the 2021 Toyota Tacoma could see lower rates despite being a newer model. As a general rule, the less likely a car is to have an accident, the less expensive it is to insure.
- Crash Notes: The Toyota Tacoma also performed well for crash ratings with the IIHS, resulting in a lower likelihood of bodily injury and, in some cases, a lower likelihood of toting vehicles. Both of these factors can affect the cost of premiums.
- Front and side airbags: Features like airbags that specifically reduce the risk of bodily injury can potentially reduce the costs associated with the medical aspects of auto insurance. Safer vehicles are less likely to give rise to a personal injury claim, or may reduce the extent or cost of injury in the event of an incident.
Other auto insurance coverage for a Toyota Tacoma
Most drivers in the United States are required to have at least basic liability insurance, which only pays for damage you cause to others. Some drivers choose to provide financial protection for their own vehicle or person with other policies, such as comprehensive and collision insurance.
Each of these types of coverage protects your vehicle against damage, whether the vehicle is moving or stationary. For example, collision coverage will help with damage that occurs while driving, whether it’s hitting an object or having an object hit your car.
On the other hand, comprehensive insurance covers damage that occurs to your vehicle when you are not driving it (and in the event of a collision with animals). If the car was damaged by a falling lamp post in a parking lot or if a branch fell on it in the driveway, both would be examples of when repair costs would be covered by comprehensive insurance.
Beyond the coverage of the vehicle itself, there are policy options to protect the driver and passengers. Medical coverage and personal injury protection are examples of auto policies that help cover costs when the driver or passengers are injured, even though the driver is at fault for the accident.
Methodology
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:
- $ 100,000 liability for bodily injury per person
- $ 300,000 in civil liability for bodily injury per accident
- Civil liability for property damage of $ 50,000 per accident
- $ 100,000 of uninsured bodily injuries by a motorist per person
- $ 300,000 in uninsured bodily injury per accident to a motorist
- $ 500 collision deductible
- Global deductible of $ 500
To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Tacoma, commute five days a week and cover 12,000 miles a year.
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