Cheap Toyota Camry car insurance quotes
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- Insuring your Toyota Camry in Canada
- How much is it to insure a Toyota Camry for a young driver?
- How much is it to insure a Toyota Camry for an experienced driver?
- How much can a traffic ticket or an accident raise your insurance?
- How to get cheaper car insurance for your Toyota Camry
- Should you buy or lease your Toyota Camry?
- Protecting your Camry with Toyota’s services
Insuring your Toyota Camry in Canada
The Toyota Camry has long been a favorite among drivers for its reliability, comfort and affordability. Its reputation as a dependable sedan makes it a popular choice for families and professionals alike. However, like any vehicle, insurance premiums for the Camry can vary based on several factors.
Below, you’ll discover how different elements – both within and beyond your control – can influence the cost of insuring your Toyota Camry.
How much is it to insure a Toyota Camry for a young driver
If you're a young driver looking to insure a Toyota Camry, you might find that the insurance costs are relatively moderate compared to other vehicles. Insurance companies consider various factors when determining rates, and the Camry’s reputation as a reliable and safe sedan can work in your favour.
Here’s a breakdown of why insurance for a Toyota Camry might still vary for young drivers and the key factors influencing it.
Driver's risk level: Insurance companies often view young drivers as higher risk due to their limited driving experience. While the Toyota Camry is not a high-performance vehicle, younger drivers may still face higher premiums simply because of their age and inexperience.
Model-specific impacts: The Toyota Camry is a mid-range sedan with a reasonable market value, making it more affordable to repair or replace compared to luxury or high-performance vehicles. This can help keep insurance premiums lower, but the cost will still depend on the specific model and trim level.
Safety features: The Camry is known for its advanced safety features, such as adaptive cruise control, lane-keeping assist, and automatic emergency braking. These features can reduce the likelihood of accidents, which may help lower insurance costs for young drivers.
Repair costs: Compared to luxury or electric vehicles, the Toyota Camry has more affordable repair costs. Its widespread availability and standard parts make it easier and cheaper to fix, which can positively impact insurance premiums.
Location: Where you live plays a significant role in determining insurance rates. If you’re in a busy urban area with dense traffic and higher accident risks, your premiums may be higher. However, the Camry’s reputation as a safe and reliable car can help offset some of these costs.
If you're a young driver looking to reduce the premiums for your Toyota Camry, there are ways to save on insurance.
Age | Insurance cost range |
|---|---|
18 | $9,771 - $13,839 |
19 | $8,089 - $10,680 |
20 | $7,589 - $9,216 |
21 | $6,880 - $7,306 |
22 | $5,712 - $6,516 |
23 | $5,291 - $6,012 |
24 | $5,068 - $5,832 |
25 | $4,297 - $4,908 |
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How much is it to insure a Toyota Camry for an experienced driver
When it comes to insuring your Toyota Camry, even experienced drivers may find their premiums vary depending on several factors. While having a clean driving record and years of experience usually helps lower your rates, other factors can still make a big difference in what you pay.
Here's what they are:
Age and driving experience: Insurance premiums are generally lowest for drivers in their 30s, 40s and 50s. That said, premiums can begin to climb for those in their 60s or 70s as factors like health issues or slower reflexes come into play.
Toyota Camry's characteristics: When it comes to affordability, the Toyota Camry is a cost-effective choice for insurance, thanks to its dependable design and lower repair costs.
Driving record: A spotless driving record often leads to lower insurance premiums. On the other hand, recent accidents or traffic infractions can result in higher costs, no matter how long you’ve been on the road.
How much you drive: Your annual mileage impacts your premium. If you frequently use your Toyota Camry for long trips or daily commutes, your risk of being in an accident is higher, leading to higher rates. On the flip side, if you don’t drive much, you could be eligible for a low-mileage discount.
Location: Your location matters a lot when it comes to insurance. Living in a high-traffic area or somewhere with high crime rates, including thefts, can raise your premiums. Luckily, the Camry isn't as in-demand among thieves as some of the other Toyota vehicles, like the Highlander, for instance.
Safety features: Many newer Toyotas, like the Camry, come equipped with advanced safety technologies such as lane-departure warnings and automatic emergency braking. Vehicles with these safety features may qualify for discounts because they help reduce the likelihood of accidents.
Age | Insurance cost range |
|---|---|
30 | $3,184 - $4,068 |
35 | $2,965 - $3,523 |
40 | $2,714 - $3,308 |
45 | $2,394 - $3,180 |
50 | $2,249 - $3,036 |
55 | $2,174 - $2,846 |
60 | $2,140 - $2,748 |
65 | $2,128 - $2,653 |
Methodology
The table above outlines the average cost of car insurance in Toronto for a female G-licensed policyholder driving a 2023 TOYOTA CAMRY SE 4DR. Using our rate calculator, we calculated average auto insurance premiums by age, assuming the driver has a clean driving record. All ranges and averages presented represent the three lowest quotes offered. The insurance policies used for comparison include $1,000,000 in coverage, along with a $1,000 deductible for both collision insurance and comprehensive insurance.
It’s important to note that these quoted rates are specific to this driver profile. You are more likely to find rates at the lower end of the provided range by comparing quotes from different providers and selecting the one that offers the best value for your needs.
Disclaimer
Auto insurance rates are influenced by a variety of factors, including (but not limited to) your postal code, driving history, the specific make and model of the vehicle, additional safety features, whether you attended driving school, and more. This means the premiums for individuals with different circumstances may vary significantly from the rates shown here. Always compare personalized quotes to ensure you're getting the best coverage at the best price.
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How much can a traffic ticket or accident raise your insurance for a Toyota Camry?
Your driving history plays a significant role in determining how much you pay for car insurance, especially when you're driving a Toyota Camry. Even one accident can cause your premiums to rise, as insurance companies may see you as a higher risk for future claims.
If your policy includes accident forgiveness, your insurer may choose not to increase your rates after your first at-fault accident. This feature can offer valuable protection against costly rate hikes, giving you peace of mind. Keep in mind, though, that accident forgiveness isn’t automatically included in all policies. It’s worth checking your current coverage or asking your insurer if this option is available for your Toyota Camry.
Here’s how insurance rates could change based on major violations and at-fault accidents for Camry drivers:
Age | Major convictions | At-fault accidents | Insurance cost range |
|---|---|---|---|
30 | None | None | $3,184 - $4,068 |
None | 1 | $6,224 - $7,067 | |
1 | None | $6,741 - $8,068 | |
1 | 1 | $15,445 - $21,382 | |
35 | None | None | $2,965 - $3,523 |
None | 1 | $6,014 - $6,648 | |
1 | None | $6,504 - $7,200 | |
1 | 1 | $14,912 - $19,400 | |
40 | None | None | $2,714 - $3,308 |
None | 1 | $5,879 - $6,468 | |
1 | None | $4,936 - $7,008 | |
1 | 1 | $14,665 - $19,400 | |
45 | None | None | $2,394 - $3,180 |
None | 1 | $5,875 - $6,456 | |
1 | None | $4,305 - $6,948 | |
1 | 1 | $14,595 - $19,247 | |
50 | None | None | $2,249 - $3,036 |
None | 1 | $5,729 - $6,312 | |
1 | None | $4,026 - $6,816 | |
1 | 1 | $14,637 - $17,902 | |
55 | None | None | $2,174 - $2,846 |
None | 1 | $4,956 - $5,997 | |
1 | None | $3,877 - $5,904 | |
1 | 1 | $14,997 - $17,178 | |
60 | None | None | $2,140 - $2,748 |
None | 1 | $4,823 - $5,740 | |
1 | None | $3,809 - $5,760 | |
1 | 1 | $14,564 - $16,842 | |
65 | None | None | $2,128 - $2,653 |
None | 1 | $4,550 - $5,634 | |
1 | None | $3,785 - $5,436 | |
1 | 1 | $14,228 - $16,738 |
Methodology
The table above presents insurance cost ranges for some of the most popular 2023 Toyota models, calculated specifically for a Toronto-based, G-licensed, 35-year-old female driver. Using our rate calculator, we determined these costs by comparing the three cheapest quotes available for each model. This driver profile assumes a clean driving record and standard coverage, which includes $1,000,000 in liability coverage as well as a $1,000 deductible for both collision and comprehensive insurance.
By focusing on the most affordable quotes from various providers, the ranges provide a clear picture of what drivers with similar profiles can expect to pay. Selecting quotes from the lower end of the range can help you secure the best value for your insurance policy while still providing adequate coverage.
Disclaimer
Insurance premiums depend on many variables, such as your driving history, the vehicle's make and model, additional safety features, your postal code, and more. The rates shown here are specific to the outlined driver profile and may differ from costs for individuals with different circumstances or coverage needs. Always compare personalized quotes across providers to ensure you find the best rates and coverage tailored to your situation.
How to get cheaper car insurance for your Toyota Camry
Toyota Camry owners have several opportunities to save on car insurance. Bundling your Toyota Camry's insurance with other policies, like home insurance, could unlock exclusive discounts. You might also consider enrolling in a telematics program, which rewards safe and responsible driving habits with lower premiums. If you're looking for additional savings, taking a certified driving course could reduce your rates even further. By understanding and exploring these options, you can make insuring your Toyota Camry more affordable and manageable.
Here are some ways you can get cheaper car insurance
Bundling policies
Bundling your auto and home insurance—or combining other policies like tenant or condo insurance—can significantly reduce your premiums. Insurance companies appreciate customer loyalty and often reward it with discounts. Savings can reach up to 20% or more. By taking advantage of this, you not only simplify your insurance management but also save a chunk of change.
Multi-vehicle discount
If your household has more than one car, insuring them under the same policy can lead to big savings. This is because insurers offer discounts (up to 15%) for placing multiple vehicles together under one account. It’s an easy win for families or households with multiple drivers, as it combines coverage while cutting costs.
Loyalty discounts
Insurance companies love loyal customers, and they often show it by reducing premiums for those who stick with them year after year. The longer you stay, the more you save—it can range from 5% after one year to as much as 10% for a decade of loyalty. If you’re happy with your insurer and their service, this discount is an excellent perk.
Higher deductibles
Choosing a higher deductible (the amount you pay out of pocket in a claim) can reduce your annual premiums by 5-10%. While the trade-off means you’d pay more in case of an accident, it’s a smart option for drivers who are confident in their safe-driving habits and want lower upfront costs.
Paying annually
Paying your entire premium in one annual payment instead of monthly installments can save you money by avoiding administrative or installment fees. While it requires a larger payment upfront, it’s a simple way to cut down on overall costs.
Telematics programs
Telematics are devices which can be added to you car or through a mobile app, which monitor your driving habits, such as speed, braking and mileage, rewarding safe drivers with lower premiums. They offer benefits like fairer rates for low-mileage drivers, personalized discounts and improved driving awareness. To maximize savings, you should focus on consistent safe driving, reduce high-risk night trips and choose a telematics program that best fits your needs.
Winter tires
Installing winter tires is not only smart for safely navigating Canada’s icy roads, but it can also reduce your premiums by 2%-5%. Some provinces, like Ontario, even require insurers to offer this discount. If you regularly switch to winter tires, make sure your insurer knows about it.
Anti-theft devices
Vehicles with anti-theft systems, like alarms or tracking devices, are less likely to be stolen, and insurers recognize this by offering discounts up to 15%. If your car doesn’t come with built-in anti-theft features, consider installing an aftermarket system to take advantage of this savings opportunity.
Should you buy or lease your Toyota Camry?
Deciding whether to buy or lease a Toyota Camry is an important financial choice. Each option offers unique benefits depending on your driving habits and budget. Leasing a Toyota Camry can mean lower monthly payments and the ability to drive a newer model more often, but it usually comes with mileage limits and potential fees. On the other hand, buying gives you full ownership, allowing freedom from restrictions, though it may require higher upfront costs. The right choice depends on what suits your lifestyle and financial goals.
Here's a breakdown of the pros and cons to help you decide how best to enjoy your Toyota Camry:
Leasing
Advantages:
- Access to the latest features: Leasing a Toyota Camry allows you to enjoy the latest advanced safety technologies, such as the comprehensive Toyota Safety Sense suite, and cutting-edge infotainment options like Apple CarPlay and Android Auto.
- Lower monthly payments: Leasing typically offers more manageable payments compared to purchasing, making it more affordable to drive a higher trim level of the Camry, such as the XSE or Hybrid model.
- Warranty coverage: Most lease terms coincide with Toyota's factory warranty, so almost all repair costs on your Camry are covered, giving you peace of mind throughout the lease.
- Flexibility to upgrade: If you love staying up-to-date with vehicle designs and features, leasing makes it easier to switch to a newer Camry model every few years.
- GAP insurance included: Toyota lease contracts include GAP insurance, which covers the difference between what your insurer pays and the amount yet to be paid on the lease in case of theft or total loss.
Disadvantages:
- Mileage restrictions: Leasing a Camry comes with annual mileage limits, so if you plan long road trips or a high annual commute, you may face additional charges for exceeding them.
- No equity: Since you don't own the car, you won't build resale value or equity by the end of the lease term.
- Limited customization: You won't be able to personalize your Camry with modifications, as alterations to leased cars are typically restricted.
- Termination fees: Ending a Camry lease early can result in significant penalties, so it's important to be sure of your commitment before signing.
- Minimum insurance requirements: Leasing a Toyota Camry requires specific and higher insurance coverage limits, which may increase your overall insurance costs.
Buying
Advantages:
- Proven reliability: The Toyota Camry is known for its exceptional durability, often lasting hundreds of thousands of miles with proper maintenance, making it a smart long-term ownership choice.
- No mileage limits: Owning a Camry means you can drive as much as you want, whether you're commuting daily or taking it on extended road trips.
- Resale value: The Camry holds its value exceptionally well compared to many competitors, allowing you to recover more of your investment when you decide to sell or trade it in.
- Personalization freedom: Ownership allows you to customize your Camry to your liking, from upgrading wheels to adding accessories that fit your style and needs.
- Long-term savings: Over time, keeping your Camry for several years can cost less compared to recurring lease payments, especially with its efficient fuel economy and low maintenance needs.
Disadvantages:
- Higher initial costs: Buying a Camry requires a larger upfront payment, which includes the down payment and standard financing fees.
- Maintenance responsibility: After the warranty period, all repair and maintenance expenses for the Camry, including more significant potential costs like hybrid battery replacements for the Camry Hybrid, fall on you.
- Depreciation: While the Camry retains value better than most cars, depreciation is unavoidable, and the car's value will decline over time.
Protecting your Camry with Toyota’s services
Toyota offers multiple ways to protect your Camry before insurance is even necessary – whether you’re leasing or buying it. Here are some of them:
New vehicle warranty and coverage
If you’re looking to buy your Camry instead of leasing it, Toyota provides a 36-month/60,000-km limited warranty coverage for every new vehicle. There’s also extended warranty, including:
- Powertrain warranty: 60 months/100,000 km
- Hybrid-related component coverage: 96 months/160,000 km
- Hybrid battery: 120 months/240,000 km
Toyota Roadside Assistance
Toyota’s Road Assistance Program provides 36-month/unlimited-km coverage for those who might require emergency road service, or if their vehicle encounters a breakdown.
