Both the driver and passenger side have fallen apart and I feel like I should replace them. My questions are... How important are these door belt strips? If I decided to never replace them, what could happen? What do these typically cost? Has anyone replaced these before?
Do you mean the ones at the base of the windows on the outside? The sun eventually destroys them. I've replaced several on Gen 2 Prii. They were not prohibitively expensive, but did cost more than I thought they should. $40 + seems to ring a bell for me, but Gen 3 could be different. There are plenty of online Toyota parts places you could look up such as Toyota Parts and Accessories - Official Online Store . A quick search led to this, if it's what you're looking for. 2010 Toyota Prius Hatchback HYBRID Parts like Door Window Belt Weatherstrip
They help keep the rain from getting inside the door, sitting there, and rusting out the bottom of the door.
I'm not sure they are always tight enough on the glass to keep rain out, but even so I'm pretty sure they help keep other junk from coming in with the rain, and clogging the drain holes at the bottom of the door, leaving the rain sitting there, and rusting out the bottom of the door.
I spent nine months there doing consulting work. They would get all excited about a quarter inch of rain. I'd sniff and tell them, "Hmm. In Florida, we call that 'dew.'"
Do it! I recently replaced my "Door Window Belt Weather Strip" on my 2011 Prius as a couple of them had torn rubber next to the window that was no longer effective and unsightly. Replaced all 4 and they were $46 each. Pricey, but when see the construction of these you will understand why. Toyota Part nos: Left Front: 757204-47021 Right Front: 75710-47021 Right Rear: 75730-47021 Left Rear: 75740-47021 Once you have your new ones in hand it will become very obvious as to how to replace these. I suggest you procure the 4 inexpensive plastic tools from Harbor Freight to help remove the original weather strip and to prevent any paint gouging. They are listed as ITEM 69668 (Pittsburgh) "Nylon Pry Bar Installer Kit". Great, inexpensive item for installation and removal of trim and a number of other efforts. Patience is key here. Take your time. Easy does it. Good Luck!