How Much is Car Insurance for a Toyota Corolla in Detroit?

Buying affordable auto insurance for a Toyota Corolla in Michigan doesn’t take too much effort, but it is dependent upon a very complex rating algorithm that uses multiple factors such as how many years you have been driving, whether or not you have prior claims, and your driving record. Drivers in Michigan pay on average $1,972 a year to insure their Corolla, but that cost is an estimation using a 30-year-old single female driver with full comprehensive and collision coverage and $1,000 deductibles.

It’s more than likely you are not 30 years old and maybe not even female, maybe you are married instead of single, or maybe you have a speeding ticket that needs to be factored in. Even a minor change in rating variables could end up with a large change in rates.

Everyone has unique insurance needs, and this illustrates why the only way to find the cheapest coverage for your Toyota is to just compare rates yourself.

Compare Toyota Corolla Insurance Rates

Vehicle trim level has an effect on the cost of coverage, so the cost to insure a Corolla LE trim level will be $46 lower than the price to insure the high end Corolla XRS version, as shown in the chart below.

Toyota Corolla Insurance Rates in Detroit, MI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $366 $820 $932 $56 $280 $2,454 $205
Corolla S $366 $820 $932 $56 $280 $2,454 $205
Corolla XLE $366 $820 $932 $56 $280 $2,454 $205
Corolla XRS $412 $820 $932 $56 $280 $2,500 $208
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Michigan minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Price estimates do not factor in vehicle location which can influence coverage rates substantially.

Establishing which insurers offer the cheapest car insurance rates for a Toyota Corolla may require a little more work than just comparing a company or two. Every insurance company has their own formula for filing rates in each state, so let’s rank the most competitive car insurance companies in Detroit.

It’s important to know that Detroit, MI car insurance rates are impacted by many things that may substantially change the cost of your policy. Improving your credit score, moving to a new city, or getting into an accident can cause premium changes resulting in some rates now being cheaper in comparison to the competition.

Best Cheap Insurance Rates for Your Corolla

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Who has the cheapest car insurance in Michigan?
Rank Company Cost Per Year
1 USAA $949
2 GEICO $1,033
3 Safeco $1,037
4 MetLife $1,364
5 Chubb $1,386
6 MEEMIC $1,394
7 Pioneer State Mutual $1,474
8 Hastings Mutual $1,627
9 Auto-Owners $1,636
10 Frankenmuth $1,645
11 Progressive $1,847
12 SECURA $1,850
13 Wolverine Mutual $2,147
14 Hanover $2,328
15 Allied $2,332
16 Grange Mutual $2,345
17 Allmerica $2,362
18 Auto Club Group $2,416
19 Farm Bureau $2,599
20 Nationwide $2,618
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USAA normally has some of the most affordable car insurance rates in Detroit at around $949 each year. GEICO, Safeco, MetLife, and Chubb also make the cut as some of the lowest-priced Detroit, MI insurance companies.

As illustrated above, if you currently have coverage with Chubb and switched to GEICO, you might realize annual savings of about $353. Drivers with MEEMIC may save as much as $361 a year, and Pioneer State Mutual insureds might see rate reductions of $441 a year.

To find the cheapest coverage for you, click here to begin a quote or visit any of the companies below.

Be aware that those premium estimates are averaged for all drivers and vehicles and and are not figured with a specific vehicle garaging location for a Toyota Corolla. So the company that can offer the best rates for your situation may not even be in the top 30 companies shown above. That’s why you need to get car insurance quotes using your own driver and vehicle profiles.

The information below shows how choosing a deductible can increase or decrease insurance premiums when quoting cheap insurance for a Toyota Corolla. The premiums are based on a married male driver, comp and collision included, and no other discounts are factored in.

A 50-year-old driver could pocket $648 a year by changing from a $100 deductible to a $500 deductible, or save $978 by using a $1,000 deductible. Young drivers, such as the 20-year-old example, could roll back prices as much as $2,186 annually just by choosing larger deductibles.

If you make the decision to raise deductibles, it will be necessary to have plenty of savings on hand to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

The importance of shopping around for Corolla insurance

Michigan car insurance rates are based on many factors which can significantly increase or decrease the policy premium. Simply having a birthday, increasing liability limits, or getting a couple of tickets may cause policy rate changes resulting in some companies being more affordable than the competition. Additionally, insurers change prices as needed in order to maintain liquidity for claims. An unexpected high level of claims can cause more expensive prices, while profitable underwriting may produce cheaper Corolla insurance rates.

To illustrate this example, the bar chart below shows the cheapest car insurance in Detroit, MI for a 30-year-old female driver with a clear driving record, no claims, and solid credit. Based on her current risk profile, USAA quotes the cheapest car insurance rates in Detroit at $2,279 annually. This is $114 less than the average policy premium paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and Chubb are also on the list of the best Detroit, MI auto insurance companies.

Now we will pretend the driver from the first set of rates a chargeable claim, bad credit, and an imperfect driving record. Since each company uses their own method for setting prices, getting updated rate quotes may now present a significantly different list of affordable Detroit car insurance companies as shown below.

Safeco now has the best price on car insurance in Detroit, MI with Pioneer State Mutual, GEICO, Hastings Mutual, and USAA now being in the top five. This shows why it is critical to take the time to shop around to find cheap insurance quotes for a Toyota Corolla. Car insurance prices are determined by many different factors and change frequently, so the cheapest company six months ago may now be priced much higher than other options.