Car Insurance for a Toyota Prius | Bankrate
In most states, car insurance is a legal requirement for all drivers. The national average cost of car insurance is $1,674 per year for a full coverage policy, which is based on a sample quote for a 2019 Toyota Camry.
However, car insurance premiums are personalized based on factors like your state, age and the type of car you drive. For a Toyota Prius, the average annual cost of car insurance is $1,740, according to Bankrate’s 2021 study of quoted annual premiums from Quadrant Information Services.
Bankrate reviewed car insurance quotes for a 2019 Toyota Prius from several of the largest insurance providers and looked into some of the factors that impact premiums. The quotes in this study are based on the Toyota Prius base model, so it is possible that the average rates for higher-end models could be more expensive.
How much does it cost to insure a Toyota Prius?
Alongside other factors, your vehicle’s make and model will affect the cost of your car insurance. While the average national rate for the 2019 Toyota Prius is $1,740 a year, every car insurance company charges a different rate for the same makes and models. Here are some of the primary factors that impact Prius insurance costs:
- Crash rate stats: The Toyota Prius is known for being a very safe vehicle. Recent Prius model years have earned the “top safety pick” badge by the Insurance Institute for Highway Safety (IIHS). Safe cars can be cheaper to insure because they are less likely to sustain major damage in a collision.
- Price of parts: Overall, Prius parts are generally less expensive as they do not have to be imported, which can also help keep the cost of insurance lower. If parts like the Prius electric motor need to be repaired or replaced after an accident, this can be more expensive than replacing a gas-powered vehicle motor. Depending on the insurer, price of parts may result in overall lower rates compared to other makes.
- Safety features: Newer Toyota Prius models have advanced safety features, like stability control, an advanced airbag system, a pre-collision warning system, intelligent parking assist, blind spot monitoring and more. These safety features reduce the risk of an accident, and therefore may also help lower the cost of insurance.
Car insurance for a Toyota Prius
Compared to the national average cost of car insurance (based on a Toyota Camry), the Prius rates are not too different. The average rate for full coverage is slightly higher than the national average of $1,674 a year, which is likely driven by the vehicle’s hybrid components which can be more expensive to repair or replace. For minimum coverage, which only provides liability coverage, the Prius actually runs a bit cheaper than average rates for the Camry. While every Prius owner will pay a different insurance rate, these averages may be useful for the sake of comparison.
| Toyota Prius car insurance | Average annual premium |
|---|---|
| Minimum coverage | $497 |
| Full coverage | $1,740 |
Cheapest car insurance companies for Toyota Prius
Although the average annual cost of full coverage Toyota Prius car insurance is slightly above the national average rate, there are some insurance carriers that insure this make and model for less, based on quoted annual premiums.
To illustrate this, Bankrate compared the cheapest car insurance rates for the Toyota Prius from five of the largest car insurance companies based on market share. These providers are among the best car insurance companies reviewed by Bankrate. As you can see from the variance between Erie and other national providers, getting quotes from more than one insurer will help you determine which rate is the best for your situation.
Average annual premium for full coverage by model
Toyota Prius features that impact insurance costs
The Toyota Prius features many of the newest safety technologies. The safety features found in the Prius are considered effective at preventing accidents and vehicle thefts. Given this make and model is one of the safest on the road (based on ratings from the IIHS), it is not surprising the cost of car insurance is fairly in line with the national average for a standard economy sedan.
The safety features that can be found with some newer model-year Toyota Prius include the following:
- Blind spot monitor: The Prius LE and LE AWD-e come equipped with a blind spot monitoring system that also has a rear cross-traffic alert sensor, which helps avoid accidents when changing lanes.
- Toyota Safety Sense: Every new Prius model comes with Toyota Safety Sense, which is a package that includes a pre-collision warning system with pedestrian detection, lane departure alerts and road sign assistance.
- Engine Immobilizer: The Engine Immobilizer helps prevent theft. If the vehicle does not recognize the chip embedded in the Smart Key fob when inserted into the ignition, the engine will not start.
- Vehicle Proximity Notification System: The Vehicle Proximity Notification System (VPNS) alerts drivers when their vehicle gets close to an object, pedestrian or other car.
- Advanced airbag system: Every new Prius model comes equipped with an advanced airbag system which makes the vehicle safer for all passengers, including front driver and passenger airbags, front seat-mounted side airbags, passenger seat cushion airbag, driver’s knee airbag, rear airbags and front and rear curtain shield airbags.
Other car insurance coverage for a Toyota Prius
Unless you live in Virginia or New Hampshire, car insurance is legally required for all Prius owners and other drivers. Most states require drivers to carry at least minimum coverage, which includes personal liability insurance and personal injury protection (PIP) if you live in a no-fault state.
However, Prius owners may consider purchasing optional coverages for a higher degree of financial protection. Valuable endorsements for Toyota Prius owners can include roadside assistance, new car replacement coverage and accident forgiveness. If you lease or finance a new Prius, gap insurance may benefit you in the event of a total loss, as it helps repay the amount of your loan that exceeds the actual cash value payout from your insurer.
Keep in mind that adding endorsements to your car insurance policy may add to your Prius insurance costs. However, car insurance companies typically offer a multitude of discounts that can help offset the price.
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Prius, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
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