Toyota Car Insurance

When looking for a vehicle, many Canadians choose Toyota. The brand is known for its durability, reliability, safety and quality. If you’ve recently purchased a Toyota or if you’re thinking about it, it’s important to make sure you have the right car insurance! In this post, we’ll go over a few of the basics when it comes to Toyota vehicles. We’ll also share a few tips and tricks that can help you save on your Toyota insurance.

About Toyota car insurance

Toyota was founded in 1924 in Japan by a man named Sakichi Toyoda. Before Toyota manufactured cars, they manufactured automatic looms! You’ve probably seen a loom in an old photo: it’s a machine used to weave cloth. In 1933, the company started making cars. The first vehicles were the A1 passenger car and the G1 truck.

Today, the company sells many different types of vehicles, including SUVs like the RAV4, trucks such as the Tacoma and compact cars like the Corolla and Camry. Many Toyotas are available as hybrids if you’re looking to lower your carbon footprint.

Fun facts about Toyota

  • The Toyota Camry is named after the Japanese word for crown: kan-muri.
  • Toyota has three plants in Canada, all located in Ontario. They produce the Corolla and RAV4.
  • Toyota crash tests over 1,600 vehicles each year! They also do virtual simulations to keep the roads safe.

Common Toyota auto insurance coverages

Whatever type of car you decide to purchase, you’ll need the right car insurance plan to go with it. (Don’t forget – it’s illegal to drive in Canada without insurance!) Your needs will vary depending on what province you live in and how much coverage you want. Here are a few of the coverages available:


This is a mandatory coverage in Canada, although the minimum amount of coverage varies depending on province. Liability insurance helps pay for damages and injury if you’re at fault in a car accident.


Collision insurance is an optional but highly recommended coverage option. It can protect you if you are in an accident with another car or object. It covers you regardless of who is at fault.


There are things other than car accidents that can damage your vehicle. Things like vandalism, theft, fire and water damage are not covered by collision insurance. Comprehensive coverage can help cover the unexpected.

Accident forgiveness

This is an optional coverage for people who believe in second chances! With accident coverage, your first at-fault accident will not cause your rates to increase. Talk to an insurance broker to learn more about accident forgiveness.

Factors that impact Toyota auto insurance rates

There are many different things insurance companies consider when determining your rate. Here are a few of the most common factors considered:

Make and model

The type of vehicle you have will have an impact on how much you pay. Things like safety features, cost of parts and repairs are considered.

Where you live

Insurance companies consider where you live when determining your rate. Rates can vary by province and city.

Driving experience

If you are a new driver without a lot of experience, you may have higher rates. As you gain more accident-free experience, your rate may decrease.

Vehicle use

Your insurance broker will ask you how often you use your vehicle and when you use it. You could save money by driving less often and avoiding driving during rush hour.

How to save money on Toyota car insurance

Auto insurance can be expensive, even if you choose an affordable vehicle like a Toyota. However, there are ways to minimize how much you spend on car insurance, such as, by driving responsibly and having a clean driving record. You can also save money on Toyota car insurance by following the tips below. From bundling insurance policies to increasing your deductible, check out the top tricks for getting cheap Toyota car insurance in Canada.

Insure all cars together

Buying more than one auto insurance policy from the same provider can save you money. So if you own several cars (perhaps you have a second vehicle for your spouse or teenage child), insuring them together can result in savings between 15% or 20% on each vehicle’s auto insurance policy.

Combine different insurance policies

Save money on Toyota car insurance by bundling multiple policies together. Similar to how insurance companies will offer discounts to drivers who purchase more than one car insurance policy from them, they will also offer discounts to people who purchase multiple types of insurance from them. So if you happen to be in the market for home insurance, insurance for a leisure item (i.e. cottage, boat, or ATV), travel insurance, or business insurance, consider purchasing them all from the same company. Doing so could make you eligible for a discount of up to 15% on each respective policy.

Install winter tires on your Toyota vehicle

Installing winter tires on your Toyota is another tip to save money on car insurance. Snow tires are known for their superior capabilities on snow and ice-covered roads, making them a safer option for Canadians who frequently drive in the winter. And since winter tires are not mandatory in most provinces and territories, choosing to install them on your vehicle could make you eligible for a discount on your auto insurance. Many insurance companies will offer drivers up to 5% off their car insurance policy for installing snow tires on their cars.

However, before you purchase snow tires as a way of saving money on your Toyota auto insurance, research the winter tire regulations in your province. Winter tires are mandatory in certain parts of the country, so to be eligible for a discount, make sure you live in a place where it is not compulsory.

Purchase a hybrid or electric Toyota

Reducing your carbon footprint pays. To incentivize Canadians to purchase eco-friendly cars, many insurance companies offer discounts to drivers of hybrid or electric vehicles. So if you’ve been debating whether to finally take the plunge and buy that EV you’ve been eyeing for months, now’s the time. Plus, Toyota has tons of great electric vehicle options, from the Prius Prime and Rav4 Prime plug-in hybrid electric models, to the Mirai hydrogen fuel cell electric model, not to mention the affordably priced Corolla Hybrid. Ultimately, purchasing one of Toyota’s hybrid or electric models could result in savings of up to 10% on your car insurance.

Increase your deductible

We’re going to let you in on a little secret: the higher your deductible, the lower your insurance premiums - no matter what type of insurance you are buying. So if you are looking to save money on Toyota auto insurance, consider buying a policy with a higher deductible. With that being said, raising your deductible is not a decision that should be made lightly. To better understand the consequences of doing so, get in touch with your local broker.

Pay annually vs. monthly

If it’s feasible, we always advise Canadian drivers to make car insurance payments annually rather than monthly. This is because insurance companies may apply administrative fees to monthly payments, which makes this method of payment more expensive in the long run.

Enrol in an approved driving school

If you are a young driver looking to reduce the cost of your Toyota car insurance, consider enrolling in driving school. Receiving professional driving lessons at an approved institution will not only make you a more confident and responsible driver, but it can reduce how much you pay for car insurance. If you can prove to an insurance provider that you graduated from a recognized driving school in Canada, you may be eligible for a discount on your auto insurance.

Work with an insurance broker

Finally, our last tip for saving money on Toyota car insurance is to work with an insurance broker. Experienced insurance brokers at BrokerLink are experts in car insurance. We have been in business for over 30 years, which means we know the industry very well. We can inform you about discounts and promotions you didn’t even know you were eligible for, all while ensuring we find you a policy that meets your needs and complies with local laws. Even better, when you work with an insurance broker, they take care of everything. This means that while you’re test-driving Toyotas at the dealership or relaxing, we’ll find coverage options on your behalf. You can always count on BrokerLink to find you the best insurance policy at a competitive price. BrokerLink works to find a car insurance policy within your budget that’s right for you.

Contact BrokerLink for Toyota car insurance

If you’re looking to insurance your Toyota, a BrokerLink insurance advisor can help. Our brokers have the experience to answer all your questions and help you get a great rate. We will guide you when it comes to finding the right car insurance for your needs.

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Toyota auto insurance FAQs

How are car insurance quotes for a Toyota calculated?

Car insurance quotes are calculated by gathering information about the car you want insured and your insurance history. That information allows an insurance company to calculate your risk. If you have a higher risk of submitting a claim (history of accidents, not a lot of driving experience), you may have higher rates. If you are a low risk customer (no history of accidents, more driving experience), you may have a lower rate. Other factors may also come into play, such as where you live and the type of vehicle you are trying to insure.

What is the least expensive Toyota model to insure?

That depends on a few different factors. Two people with the same Toyota Corolla could pay different rates. That’s because insurance companies don’t just consider the type of vehicle you’re driving. They also consider your driving history. To get a quote that’s just for you, talk to an insurance broker.

Is it safe to buy Toyota insurance online?

It can be confusing to do it on your own. That’s why we recommend using an insurance broker to buy insurance. A broker will help make sure you have the right insurance for your specific needs.

Is it cheaper to insure a used Toyota or a new one?

It is typically cheaper to insure a used car than a new one, no matter the make. This is because older cars may be less expensive to repair and less likely to be targeted by thieves. However, it’s important to note that new Toyota models have certain advantages that could save you money in other ways. For example, a new Toyota might be more fuel-efficient than an older model. So while a new car could cost more in insurance, it could also save you more money in gas. Be sure to consider all angles when deciding whether to purchase a new or used Toyota.

Which insurance company offers the best Toyota car insurance?

There isn’t one insurance provider in Canada that is known for offering the best Toyota car insurance policy. In fact, insurance rates change all the time and insurers are constantly underwriting behind the scenes. This means that just because you found a great policy from a certain provider last year doesn’t guarantee you’ll be offered the same rate this year. The only way to ensure you are receiving the most competitive rate on your Toyota car insurance is to consult with an insurance broker. An insurance advisor will help you shop around and compare quotes in an effort to find the best coverage at the lowest price.

Is Toyota auto insurance mandatory?

Yes, car insurance is compulsory in Canada, whether you drive a Toyota, Tesla, or Maserati. All drivers must have valid, up-to-date car insurance policies before hitting the road. Your policy must comply with the minimum coverage requirements in your province, and minimum requirements vary by province. For example, in Alberta and Ontario, drivers must carry a minimum of $200,000 in third liability coverage at all times. Contact BrokerLink to learn more about the mandatory coverage in your province.

Further, since auto insurance is legally required in Canada, driving without it is a criminal offense punishable by law. If you do not want to risk a hefty fine of up to tens of thousands of dollars (depending on the province), purchase Toyota auto insurance today.

How can I get a free Toyota car insurance quote?

If you want a free Toyota car insurance quote, you’ve come to the right place. All Canadian drivers are invited to request a free quote using BrokerLink’s online car insurance calculator.

Alternatively, if you prefer to request your free Toyota auto insurance quote in person or over the phone, visit one of our community branches or give us a call today. We are always happy to assist you.

More ways to find a great car insurance rate

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