About Toyota Canada
Toyota is among the most renowned car brands in Canada. Founded in 1964, Toyota has sold over 4 million vehicles in Canada throughout its national network of over 280 dealerships! It’s head office is located in Toronto and the company employs over 24,000 people across the country.
Toyota Models in Canada and their Insurance
Toyota Corolla
The Corolla holds the record for being the World’s best ranked and favorite car. In Canada, a total of over 1.3 million Corollas have been sold. At the same time, at least 40 million had been sold around the globe.
Some of this popularity is because of the cheap insurance price tag that comes along with the Corolla. You will pay less on average for car insurance in a Corolla than you will for other models. Safety ratings are among the factors that are taken into consideration when determining premiums. Other than the excellent insurance prices, you will find the Corolla attractive when it comes to design and economy due to low fuel consumption. It further boasts good road performance and handling.
Toyota Camry
Contrary to the global popularity of the Corolla, the Camry is Canada’s most famous Toyota model. It’s ranked 10th in Canada among popular cars in general. Its features and advantages are considered to be somewhat uniform in terms of security, physical design and reliability. The insurance premiums also tend to be higher due to its enhanced features as consumers find it more luxurious and spacious compared to the Corolla. Higher horsepower also contributes to an elevated insurance rate compared to the Camry.
Toyota Rav4
This sleekly-made sport utility vehicle has combination of features from both large and small cars. It’s a subjectively a more visually appealing car compared to the Toyota Camry and Toyota Corolla. The Rav4 offers superb performance, sporty design and reduced fuel consumption – some models even have four wheel drive. These features are mainly in comparison to other competitive sport utility vehicles. Insurance premiums for Toyota Rav4 and other SUVs are considerably higher compared to those of sedans. You will find the Rav4 compact, safe and fuel efficient. We advise you to compare different insurance companies for the best using our quoter above as they can vary significantly for this particular car.
Factors that decrease auto insurance costs of Toyota models
There are many reasons to choose a Toyota. The insurance rates are definitely affordable while the cars themselves maintain a certain level of safety, economy and quality. That said, getting the best rate will always depend on the insurance company that gives Toyota models the least risk factors.
Toyota car insurance rates vary from one model to another. If your Toyota model is old, an example being a Camry, you are likely to incur less costs in the event of repair or replacement. An older model may have acceptable safety performance in a collision and therefore have lower insurance claim amounts because of the cost to repair it. Apart from the Toyota Camry, other models such as Corolla, Echo and Sienna also have similar repair costs.
Another variable is the frequency of accidents that are recorded on a specific model. It seems the model that performs best here is the Toyota Sequoia.
Factors that increase auto insurance costs of Toyota models
Almost all Toyota models indicate a variance between model years in regards to collision claims performance. Models such as the Toyota Highlander show collision claims that exceed the national average settlement rates. These models will cost you more for car insurance purely based on those statistics. Additional models with similar rends are the Rav4, Matrix Wagon, Sienna and Toyota Tundra.
During the years between 2004 and 2014 Toyota 4Runner was ranked above average in broad claims. The Toyota Highlander cost more than the average for every model year between 2007 and 2014. The Toyota Sequoia, Tacoma and Tundra are similar in that they possess a relatively higher price tag in order for you to get comprehensive coverage.