American families can find car insurance to be quite expensive. Rates can vary depending on your vehicle’s make and model. According to Bankrate’s 2021 study on annual premiums, the average cost of car insurance is $1674 for full coverage. This is based upon the cost of insuring a 2019 Toyota Camry. A Toyota Tacoma is $1,539 annually to insure with full coverage.
While Toyota Tacoma insurance is generally cheaper than other makes and models, there are certain nuances that could affect the rate you pay. It is a good idea to look at the factors that will affect how much it costs to insure your Tacoma before you make a decision about a policy.
This review includes models:
- Toyota Tacoma
What is the cost of insurance on a Toyota Tacoma
Toyota Tacoma insurance costs can vary significantly by driver and insurer. Based on the quoted premiums by Quadrant Information Services, the national average rate for a Toyota Tacoma for full coverage is $1,539 per year. Driver variables such as age, driving record and credit history are all considered when determining premiums. Insurance costs can be influenced by factors such as safety features, crash ratings, and repair costs.
The 2021 Toyota Tacoma crew cab scored well on its crash ratings with the IIHS. All but one section scored the vehicles highest on crashworthiness. Car crash ratings can have an impact on auto insurance rates. They provide insight into the financial risk associated with insuring a vehicle. Toyota Tacomas are more recent and have many safety features available, including crash avoidance systems and sensors as well as airbags. Because they lower the insurer’s financial risk, safety features can help to lower auto insurance rates.
Repairs cost for vehicles are strongly linked to the cost of replacement parts. Locally produced parts tend to be more affordable. Parts for the Toyota Tacoma, for example, are manufactured in San Antonio, Texas and parts in Mexico. The parts that are less expensive are more likely to need repairs. This may result in lower insurance rates.
Toyota Tacoma car insurance
Even if they have the same Toyota Tacoma model, the rates for Toyota Tacoma car coverage can differ between providers and drivers. Rates are often calculated using driver variables such as age, credit history, driving record, and home address. The national average rates are a good starting point for comparing quotes.
Trucks can have higher rates than sedans. However, the Toyota Tacoma’s safety features seem to offset this. The chances of getting lower rates are higher if you have more safety features. The Tacoma is slightly less expensive to insure than the national average vehicle. While the cost of parts and safety features might play a part in this affordability, your quote will likely differ from the national average.
Toyota Tacomas: The cheapest car insurance
To illustrate the differences in rates between different companies for the Toyota Tacoma, the market share leaders were compared using rates for Toyota Tacoma. These companies were selected from the Bankrate’s picks for the best car insurance companies for 2021. Experts recommend that you shop around among insurers before purchasing an auto policy.
Model-specific average annual premium
Toyota Tacoma features that affect insurance costs
Although rates can be affected by driver-specific factors, these features of the Toyota Tacoma will help to keep insurance costs down.
- Parts cost: Imported parts may be cheaper than those used in repairs. This can lead to lower premiums. It also means that the insurer is less financially exposed in the event of an accident.
- Front crash prevention: The 2021 Toyota Tacoma has a high IIHS rating for its front crash prevention system. This may result in lower rates, despite it being a more recent model. The more unlikely a vehicle is to be involved in an accident, the lower the cost of insurance.
- Crash ratings: The Toyota Tacoma also scored high on the IIHS crash ratings, which means that there are lower chances of injury to the bodily and, in some cases, lower chances of the total vehicles being destroyed. These factors can impact the premium cost.
- Airbags on the front and sides: Features such as airbags that reduce the likelihood of bodily injury could help lower the costs of medical insurance. A safer vehicle is less likely to lead to a bodily injury claim or reduce the cost or extent of injuries.
Additional car insurance coverages for the Toyota Tacoma
The majority of drivers in the U.S. must have basic liability insurance. This covers only the damage you cause others. Some drivers opt to have financial protection for their vehicle and passengers with additional policies like collision or comprehensive insurance.
All of these coverages protect your vehicle against damage while the vehicle is stationary or in motion. Collision coverage, for example, will cover damages caused by driving while you are driving.
On the other hand, comprehensive insurance covers damages that happen to your vehicle while you are not driving it (and in the case of collisions with animals). Comprehensive insurance would cover the costs of repairs if the car was damaged by a falling light pole in a parking lot, or a branch falling on it in the driveway.
There are policies that provide coverage beyond the vehicle’s actual cost. These policies can also protect the driver and passengers. Auto policies can provide coverage for medical and personal injuries, regardless of fault.
