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How much does it cost to insure my Toyota Highlander?

Nicholas Hinrichsen - Published: August 15, 2020

This guide compares auto insurance rates for a specific make and model, as well as provides data for the average values and payback periods.

Toyota Highlander Insurance Quick Facts:

Average car insurance rate: $99 per month or $1,188 per year
 

Average cost to to insure a Toyota Highlander: $992


Cheapest Year to Insure: 2016


Highlander vs. average vehicle insurance cost: $195 below average) average vehicle

Compare Toyotas Car Insurance Rates Across Years:

There are an endless number of options available when it comes to auto insurance. Quotes given by insurance companies are dependent on a variety of different factors such as the vehicle’s make and model, the driver’s age and driving record, and credit score (among others).  

 

As some general rules to saving on your insurance policy:

  • Lower coverage limits are often cheaper (you can reduce deductible, collision, comprehensive, or liability coverages individually)

  • Good drivers (with the driving record to prove it) generally receive better rates

  • Cars with more safety features (and those that do better in crash tests) will typically be cheaper 

Below is a table of the average insurance costs nationwide to insure a Toyota Highlander across various years. These quotes are provided by a number of insurance providers (such as AllState, Geico, Progressive, State Farm, Liberty Mutual, and others):

  • 2011: $877 ($311 less than an
  • 2012: $869 ($319 below average)
  • 2013: $900 ($288 below average)
  • 2014: $965 ($223 below average)
  • 2015: $1,029 ($159 below average)
  • 2016: $1,008 ($180 below average)
  • 2017: $1,082 ($106 below average)
  • 2018: $1,208 ($20 above average)

 

If some of these figures surprise you - you can get a free insurance quote by comparing offers from TheZebra.com. They help find the best car insurance for your needs and take into account your entire driving history, vehicle location, and try to match your coverage amongst several car insurance companies.

Toyota Replacement Payback:

You might notice that car insurance costs don’t vary a ton by model year for some of the makes and models. The vehicle replacement cost however, does vary a lot by year (since older vehicles are inherently cheaper). 

Why is this? Primarily two reasons:

  1. Repair costs don't vary that much: In many cases when a vehicle is damaged, the cost to repair doesn't vary highly by year. While a 2015 model is worth less than a 2019 the cost to replace a fender or blown airbag on each vehicle is often the same.

  2. About 1/3 of insurance premium goes to "non-car" coverage for covering bodily and personal injury, property damage, medical payments when a collision injures individuals or property separate from the vehicle.

In order to make the insurance comparison more relevant let’s also evaluate a new metric called replacement timeline. For this replacement timeline we’ll examine how many months of insurance premiums it would take to purchase a complete replacement car (e.g. assume you can complete total your car every few months):

  • 2020: $43,928 (531 months to replace)
  • 2019: $26,065 (315 months to replace)
  • 2018: $27,174 (269 months to replace)
  • 2018: $31,747 (315 months to replace)
  • 2017: $34,219 (379 months to replace)
  • 2017: $28,997 (321 months to replace)
  • 2016: $25,872 (308 months to replace)
  • 2015: $24,149 (281 months to replace)
  • 2014: $22,737 (282 months to replace)
  • 2013: $17,394 (231 months to replace)
  • 2012: $15,765 (217 months to replace)
  • 2011: $16,336 (223 months to replace)
  • 2010: $13,377 (161 months to replace)
  • 2009: $13,617 (164 months to replace)
  • 2008: $11,123 (134 months to replace)

Refinance a Toyota Highlander:

Not only can you save on your auto insurance, you can save even more through lowering the rate on your car loan. Unlike all the other auto refinance lenders, we are the only fully digital platform that let's car owners like you refinance their cars from the comfort of their own home.

 

No need to set a foot in a bank or credit union. You can lower your rate or get cash in as little as 20 seconds.

 

Curious how much you can save today? Follow three simple steps to refinance your Toyota Highlander loan, get approved in seconds and save thousands in minutes.

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