Toyota Prius fun facts
- The Toyota Prius first entered the market in Japan in 1997.
- Prius is a Latin word that translates to “first,” “original,” or “superior” in English.
- The Prius is sold in over 90 countries around the world.
- Various versions of the Toyota Prius have consistently been ranked among the most fuel-efficient cars in the United States by the US Environmental Protection Agency (EPA).
Is the Toyota Prius expensive to insure?
Insuring a Toyota Prius is relatively inexpensive for a few reasons. First, it is a budget-friendly car, and generally speaking, the cheaper the car, the cheaper the car insurance. This is because it will cost insurance companies less money to repair or replace your vehicle if you get into a collision since the vehicle parts are cheaper. Further, a Toyota Prius has a lower horsepower, which makes it less likely to be involved in accidents. Together, this often translates to reduced insurance premiums.
How car insurance companies calculate Toyota Prius insurance costs
Car insurance companies in Canada consider a wide range of factors when calculating insurance premiums for Toyota Prius drivers. Although an insurer will take the vehicle make, model, and year into account when determining your premium, they will also take into account other factors, such as:
- Driving record
- Driving experience
- Past claims
- Annual mileage
- Prior insurance coverage
- Your deductible
- Local laws
- How you use your vehicle
- Marital status
Save money on Toyota Prius insurance
Want to save money on your Toyota Prius car insurance? BrokerLink can help. As insurance experts, we know the industry’s best-kept secrets for saving money on auto insurance. Our insurance advisors put together the following list of money-saving tips:
- Purchase car insurance for multiple vehicles together (savings of up to 20%)
- Buy multiple insurance policies (business insurance + car insurance, leisure vehicle insurance + car insurance, etc) from the same company (savings of up to 15%)
- Increase your deductible
- Enrol in driving school (for young drivers)
- Pay auto insurance annually rather than monthly
- Install winter tires on your Toyota Prius (savings of up to 5%, depending on the province)
- Purchase an eco-friendly Toyota Prius model, like the Toyota Prius Prime (savings of up to 10%)
The most common car insurance coverage for Toyota Prius vehicles
When purchasing car insurance for your Toyota Prius, you will need to decide what coverage to include. Some coverage types are mandatory, like third party liability insurance, while others are optional, like comprehensive or collision coverage. We’ve outlined some of the most common Toyota Prius coverage types below:
Third party liability coverage
Third party liability coverage is mandatory no matter where you live in Canada. It protects the policyholder if they are injured or their Toyota Prius is damaged in an accident that they caused. Beyond medical bills and vehicle repairs, liability coverage can also pay for legal counsel and court fees. Minimum coverage requirements for third party liability vary by province, so make sure you check the minimum coverage requirements in your province before purchasing a policy for your Toyota Prius.
Accident benefits coverage
Accident benefits coverage is another type of mandatory auto insurance coverage in Canada. It protects the policyholder if they, a passenger, or a pedestrian require medical attention following a collision. Regardless of which party is at fault for the accident, the policyholder can still receive compensation to pay for medical expenses under the accident benefits portion of their policy.
Comprehensive coverage offers financial protection against non-collision perils. Such perils may include theft, vandalism, fire, water damage, and more. Comprehensive coverage is a popular option among Toyota Prius drivers due to the peace of mind it brings.
Collision coverage is another optional coverage type that Toyota Prius drivers may benefit from. It protects the policyholder if they are in an accident with another vehicle or object. Like accident benefits coverage, it covers the policyholder regardless of whether they are at fault for the accident. However, unlike accident benefits coverage, collision coverage only provides compensation for property damage resulting from the accident, not bodily injuries.
Uninsured automobile coverage
Uninsured automobile coverage is mandatory and protects the policyholder and any passengers in their vehicle if they get into a collision with an at-fault driver who is either uninsured or underinsured.
Contact BrokerLink to request a free Toyota Prius insurance quote
Get started now by contacting BrokerLink for a free quote on your Toyota Prius insurance. To request a free quote, simply give us a call, use our online quote tool, or visit us in person at one of our many locations throughout Canada.
We are pleased to offer free car insurance quotes to all Toyota Prius drivers. All BrokerLink quotes are accurate, competitive, and obligation-free. What do you have to lose? Contact BrokerLink today. We can’t wait to hear from you!
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What is the best way to save money on Toyota Prius car insurance?
The best way to save money on Toyota Prius car insurance is to work with a broker.
Is Toyota Prius auto insurance required in Canada?
Yes, Toyota Prius car insurance is mandatory in Canada, no matter where you live. Auto insurance regulations vary by province so make sure your policy complies with the provincial requirements where you live.
For more FAQs, visit the BrokerLink FAQs page.
*This article is in no way sponsored, endorsed, or associated with Toyota.
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