How Much Does Toyota Camry Insurance Cost?

Published February 2, 2022
in Ownership

Insurance is a critical part of owning a car. Car insurance is a mandate for drivers in most places. It works to protect your finances on the road, providing security in the case of a severe accident. If you’re looking into a Toyota Camry for your next vehicle, you might wonder about the Toyota Camry insurance cost.

You’ve come to the right place if you’re looking for more information about Toyota Camry insurance cost. We’ll discuss the average annual price for this coverage, factors that can impact the price, and lease insurance costs. There’s a lot to talk about, so let’s jump right in!

How Much Does Toyota Camry Insurance Cost?

According to insuraviz.com, the average cost of insurance for the Toyota Camry is $1,546. It’s a little expensive for a vehicle of its size. The Toyota Camry insurance cost can also vary depending on the company you invest in for your future. There are plenty to choose from for your car.

According to thezebra.com, here are some of the premium prices for the most popular insurance companies on the market:

Allied: $762 a year
USAA: $1,386 a year
GEICO: $1,409 a year
Vermont Mutual: $1,172 a year
Nationwide: $1,207 a year
State Farm: $1,386 a year

Allied is one of the best options if you’re looking for a way to save money with insurance premiums.

Every company has restrictions and regulations that work for them. Ensure you research each one before you decide to give them your money.

The trim can also change how much a vehicle costs. Let’s talk about this money-altering factor next.

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Which Trim is the Cheapest?

There are five trims you can pick from with the Toyota Camry, meaning five different levels of features. Each one comes with a varying insurance price point.

Here is the cost for each Toyota Camry trim according to insuraviz.com:

LE: $1,384 a year
SE: $1,494 a year
XLE: $1,554 a year
XSE: $1,564 a year
TRD: $1,592 a year

More advanced, technologically sound trims will cost more than the basic versions of the vehicle.

These prices relate to the latest Toyota Camry, the 2022 model. If you’re looking for information about previous models, assume they will be slightly lower than the prices listed here. Older models tend to cost less, which we will discuss next.

A Look at Toyota Camry Insurance Cost By Year

If you decide to purchase a used Toyota Camry rather than a new one, the price will change. It’s vital to understand these prices so you can pick the year that best suits your budget and personal taste. Let’s talk about these prices.

According to thezebra.com, here are some of the average costs for insurance over the years:

2019: The average cost is about $1,759.
2018: The average cost is about $1,097.
2017: The average cost is about $1,197.
2016: The average cost is about $1,179.
2015: The average cost is about $953.

In most cases, the cost will get lower with older models.

If you’re desperate to save on the Toyota Camry insurance cost, an older model might be the best choice for you. There are plenty of used Toyota Camrys out there that still operate like the day they were brought home for the first time.

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Cost of Toyota Camry Lease Insurance

If you decide to lease a Toyota Camry instead of buying, you will still need to pay for insurance. The vehicle must make it back to the company, so you need to follow specific Toyota requirements for leasers.

Here’s how insurance with a Toyota lease works according to valuepenguin.com:

You invest in the minimum liability coverage by state
You purchase physical damage insurance
You consider investing in Toyota’s Guaranteed Auto Protection

If you don’t want to utilize Toyota’s GAP program, you can also find another gap coverage you prefer.

The Toyota Camry insurance cost to lease is often a bit more than outright purchasing a vehicle. Since the car is not technically yours unless you purchase it, later on, Toyota wants to ensure the vehicle will be taken care of if the time comes to turn it back in.

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What Factors Can Affect Insurance?

Many factors can impact the price of insurance, and many are not aware of them. A critical part of Toyota Camry insurance cost is who you are. The smallest things about a person can change what they need to pay for full coverage.

Here are some of the factors that can affect your insurance cost according to nerdwallet.com:

Age: Younger drivers pay the most for insurance coverage. This cost decreases with age, and then slightly increases once you get above the age of sixty.
Marital status: Many of the largest auto insurance companies offer lower rates to married couples. Single, divorced, and engaged couples have to pay more.
Job: Some jobs are reasonably more likely to file an insurance claim than other jobs are.
Where you park: If you park your vehicle in an area where it can get damaged, your insurance rates will be higher.

Someone who parks their car in their garage and works from home will pay less than someone who commutes two hours and parks on the city streets.

Many things can affect Toyota Camry insurance cost. It’s critical to analyze your life and consider the things that could change to get you a lower premium rate for your Toyota Camry.

Conclusion

Many factors can change the Toyota Camry insurance cost. On average, it will cost you about $1,546 a year. However, that can shift in the blink of an eye depending on age, where you park, and marital status, among other traits. Everything matters.

We hope this information was helpful! It can be troublesome to deal with insurance costs. Once you have it down, you should have little trouble finding the best choice for your life.

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