Why does my older Camry cost more for insurance than my newer Camry?
While I was looking at my Allstate policy, I noticed that the premium for my 2016 Toyota Camry is more than for my 2019 Toyota Camry. They both have the same coverage. How is this possible?
“Many factors play a role in your car insurance premium, not just the year, make, and model of the car.
Usually, each car on the policy is assigned to a driver. Depending on the driver’s history and experience, this can raise or lower the vehicle’s premium.
Annual mileage is another factor. Is one car used for work and the other for pleasure? Is one car used for business, or does one have rideshare insurance attached?
Even though the cars are very similar, your 2019 Camry may have new safety features that decrease the premium associated with bodily injury liability or medical payments coverage.
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