Car Insurance for Toyota
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! Its head office is located in Toronto, and the company employs over 24,000 people across the country.
Before comparing car insurance rates with MyChoice for your Toyota vehicle, we want you to review the information below to understand your coverage options and approximate pricing ballpark.
How Much Does it Cost to Insure Your Toyota in Canada?
On average, it costs around $1,355 per year to insure your Toyota in Canada. The price will vary depending on your Toyota model, year make, region you’re living in and your driving history.
Here’s how much it would cost you on average to insure your Toyota in the following cities in Canada:
| City | Average Annual Insurance Premium |
|---|---|
| Toronto, ON | $2,252 |
| Kingston, ON | $1,305 |
| Mississauga, ON | $2,437 |
| Ottawa, ON | $1,515 |
| Cambridge, ON | $1,729 |
| Calgary, AB | $1,591 |
| Grande Prairie, AB | $1,284 |
| Montreal, QC | $842 |
| Halifax, NS | $1,395 |
| Corner Brook, NL | $1,177 |
| Moncton, NB | $956 |
How Toyota Car Insurance Costs Compare to Similar Vehicle Brands
When selecting a vehicle, many potential buyers often weigh the insurance rates of different brands, including Toyota, against each other. Insurance costs can significantly influence the decision-making process.
Based on internal customer quote data, our analysis places Toyota’s insurance rates in the higher range among mainstream car brands. With an average premium of $1,355, Toyota’s rates are higher than those of Nissan, Honda, Hyundai, Subaru and Kia. Here’s a brief comparison:
| Car Model | Average Annual Insurance Premium |
|---|---|
| Toyota | $1,355 |
| Nissan | $1,304 |
| Honda | $1,181 |
| Hyundai | $1,298 |
| Kia | $1,177 |
| Subaru | $1,117 |
Toyota Car Insurance Rates Through The Years
Toyota vehicle insurance rates have shown a steady increase over the past few years. After a slight drop from 2020 to 2021, premiums have gradually risen each year, reaching a higher level in 2024. Here’s an updated overview of Toyota insurance premiums in recent years:
Toyota Car Insurance Rates by Model & Year Make
When insuring your Toyota, the model you choose significantly impacts the insurance rates. Our detailed analysis below provides a comprehensive view of the insurance costs for various Toyota models from different years.
Most Popular Toyota Vehicles
Below are some of the most popular Toyota car models in Canada:
Toyota Insurance FAQs
Do I need insurance for my Toyota in Canada?
Car insurance is mandatory in Canada for all vehicles, including Toyotas. Before driving, drivers must have a valid insurance policy meeting their province’s minimum coverage requirements before driving.
Which Toyota model is the cheapest to insure?
The 2024 Toyota RAV4 is the most affordable model to insure in Canada, with an average annual premium of $1,096.