Why am I paying so much for car insurance for my old Corolla?

I am 20 years old and my friends all pay $100 less than me for their insurance. I have a 2008 Toyota Corolla and did have an accident two years ago. I'm currently with State Farm and I don't know why I'm paying so much more.

Car insurance rates vary from person to person, as well as carrier to carrier. Being under 25 and having an accident on your record is most likely what is currently impacting your rate.
The amount of coverage you have on your vehicle vs. what your friends have could also account for the difference in pricing. Having full coverage, or comprehensive coverage and collision coverage, will always be more expensive than only liability insurance.
To find the best insurance rates, you’ll need to comparison shop. Ask your friends what carriers they are with and request quotes. Also check with larger carriers like Travelers and Liberty Mutual, as well as smaller regional carriers.
By shopping around, you can be sure you’re paying the best rate with the coverage you require. “
Emily Maracle
Answered on Apr 30, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.

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