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Every car insurance situation is going to be different. A series of factors, including your driving history and record will determine your rates for coverage. But there’s more to know about insurance, especially if you have other concerns, including bad credit. So, here you are, with your Toyota RAV4, wondering what you can expect with rates and coverage. Find out everything Toyota RAV4 owners need to know about insurance, especially if there’s a history of bad credit.

What contributes to your insurance rates?

A 2023 Toyota RAV4, which you would need to knowToyota RAV insurance costs.
2023 Toyota RAV4 | Toyota Motor Sales, U.S.A., Inc.

Before estimating your Toyota RAV4 insurance rates, consider the conditions contributing to today’s insurance estimates. The Insurance Information Institute describes the biggest factors includes your driving record, age, and location. For example, if you’ve had an accident, your rates will be higher or if you’re 16-years-old or a new drivers you will likely have inflated rates. Location matters also, since it contributes to the kind of driving you do, high crime areas, and cost of living dynamics. 

Another critical factor involves your credit history. Insurance companies use your credit score to assign statistical behaviors to you as a client. Bad credit could translate to higher rates, with an assumed probability that you’ll file a claim. It also indicates to an insurance provider the likelihood that you’ll pay your insurance premiums on time.

A cost breakdown for those Toyota RAV4 owners with bad credit

Luckily for you, Toyota vehicles tend to be the most affordable to insure. Because of their high-reliability ratings and increased safety aids, you can expect below-average insurance premiums. 

However, if you have poor credit, those low rates might not apply to you. According to CarEdge, a teen driver with no credit, which is just as much of a hindrance as bad credit, could expect to pay more than $9,800 for Toyota coverage. That exact vehicle, with an older driver with a solid driving history and good credit, would only cost an average of $5,739.

If you’re middle-aged, as another example, with stellar driving history and credit, you can expect to pay roughly $1,800 annually for coverage on a Toyota. That same individual, now with poor credit ratings, could expect to pay more than $3,100 for the same coverage. That same individual, now with good credit and an accident on their record, would pay $2,670, which is still less than the poor-credit-only example.

More about insuring a Toyota RAV4

So, if you have bad credit, you can expect to get higher estimates for insurance coverage, which can be a challenge. But again, insuring a Toyota has its advantages. Additionally, if you’re driving a Toyota RAV4, there’s even more good news on the cost of coverage front.

Of all the models Toyota offers, the RAV4 presents the absolute lowest insurance costs. Because this Toyota model is chock-full of safety features and driver aids, a Toyota RAV4 owner with good history behind the wheel and decent credit might pay $1,438 on average annually. Value Penguin’s estimates average a slightly higher rate of $1,903 for the RAV4. 

If you’re insuring a Toyota RAV4 and have a poor credit score, you’re looking at estimates of around $2,470. According to Jerry, that’s still below the average annual rate for insuring any Toyota vehicle, which is roughly $2,528 annually. And it’s still relatively affordable compared to coverage on a non-Toyota model.

So, if you’re anxious about bad credit and need insurance coverage for a Toyota RAV4, you can breathe a little easier. You can expect higher yet still reasonably affordable rates. One cost-estimating dynamic can help balance out the other. And if you live in Hawaii, you’re in luck even more. Credit scores aren’t used in assigning insurance premiums there.

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