Toyota expands branded insurance to 3 more states
By onInsurance
Toyota has rolled out its branded insurance to Colorado, Georgia and Oregon, meaning it now offers its in-house coverage in 12 states.
The OEM said in announcing its expansion that its coverage benefits include an “immediate upfront discount” and that further savings are possible through good driver, good student or multi-policy discounts.
“Toyota Auto Insurance offers customers quality, customizable coverage at affordable rates, and is seamlessly integrated into the vehicle ownership experience, making it easy to obtain and use,” Toyota spokesman Derrick Brown told Repairer Driven News. “That includes combining with Toyota vehicle benefits such as Toyota Care, which includes roadside assistance, so customers won’t pay for something their Toyota already provides.”
He added: “Toyota Auto Insurance is customizable based on how customers use their Toyota vehicle and their lifestyle. Toyota Auto Insurance customers enjoy the assurance that comes knowing they can have repairs done with Toyota Genuine Parts, and trusting Toyota Certified Technicians to perform quality repairs when and where available.”
Toyota previously expanded its insurance arm to California. It also offers coverage in Arizona, Illinois, Indiana, Missouri, Ohio, South Carolina, Tennessee, and Texas.
“We’re excited to continue our rollout of Toyota Auto Insurance, expanding our reach to even more customers,” said Rob Spencer, Toyota Insurance president. “We look forward to offering our customers in Colorado, Georgia and Oregon exceptional value and top-tier service to enhance their Toyota ownership experience.”
Toyota is among a number of OEMs to launch their own insurance branches, including Tesla and GM.
Tesla Insurance is growing in popularity. It was first offered in Arizona, California, Illinois, Ohio, and Texas and expanded to Oregon, Virginia, and Colorado last year. It’s also offered in Maryland, Minnesota, Nevada, and Utah. The OEMs insurance sat at an annual premium run rate of $300 million as of Dec. 31, 2022, according to an executive.
GM has a telematics-based insurance provider called OnStar Insurance. It offers specialized rates and rewards for safe driving and is available in nearly every state. Launched in 2021, GM said its insurance branch was introduced to “offer a secure, fair, personalized and easy-to-use digital insurance experience for drivers.”
Toyota’s insurance is provided by Toggle, an arm of Farmers Insurance. Brown said that it plans to further expand its insurance network, although a timeline was not provided.
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