How much does insurance cost for a 2023 Toyota Corolla?

I’m thinking about getting a 2023 Toyota Corolla SE and want to get an idea of what the monthly insurance cost would be. What are you all paying for insurance on yours?

I’m a new driver, so I expected my insurance to be high, but $1700 from TD for my 2022 Corolla LE is crazy. I can’t find anything cheaper than $700.

$115 a month for my 2023 Corolla Hybrid with Geico.

Insurance rates depend a lot on where you live. I’m in Long Island, NY, and we have three cars on our policy. Weirdly, our 2021 Sienna costs less at $83 a month. Here’s what my coverage looks like:

  • Bodily injury liability: $300k/$300k
  • Property damage liability: $100k
  • Additional personal injury protection: $100k
  • Residual medical payments: $10k
  • Uninsured motorist coverage: $100k/$300k
  • Basic personal injury protection: No deductible
  • Comprehensive: $500 deductible/full glass
  • Collision: $500 deductible
  • Roadside service
  • Mechanical breakdown insurance: $250 deductible
  • Rental reimbursement: $30/day, $900 max

@Clay
How does that mechanical breakdown coverage work? Does it cover major repairs after the manufacturer’s warranty, minus the deductible?

Broderick said:
@Clay
How does that mechanical breakdown coverage work? Does it cover major repairs after the manufacturer’s warranty, minus the deductible?

Yeah, it covers repairs to all major mechanical parts except maintenance and normal wear and tear, as long as the car is under 15 months old and has fewer than 15,000 miles when you sign up. You can renew it for up to seven years or 100,000 miles. After the $250 deductible, repairs are covered. It only costs me $30 every six months, so I figured why not. Some people said they got major repairs like a transmission replacement covered. It might get more expensive as the car ages, though.

I’m 24 and pay around $75 a month with Progressive. $100 deductible for comprehensive, $500 for collision. I have a 2023 SE.

Best way to know is to get a quote from your insurance company. Too many factors go into it, like where you live, driving history, coverage level, and more.

I pay $550, but I had a couple of accidents last year.

Insurance costs depend on age, driving record, and where you live. I moved just a few blocks from my old place, and my rate went up $350 a year because the crime rate is higher in this area.

For reference, I just renewed my policy for $1635 a year, full coverage, $500 deductible, and $2 million liability. I’m in Canada with Intact Insurance.

I’m 25 and have a 2023 hatchback. I pay about $130 a month for full coverage with a $750 deductible through Progressive. Some other companies quoted me around $180 for similar coverage.

I’m 22, drive a 2023 SE, and live in Tennessee. I pay about $125 a month for full coverage with a $750 deductible through Progressive. I’ve been driving since I was 16 and have a clean record, so that probably helps.

I have a 2017 Corolla and only pay $50 a month.

Insurance rates depend on your age, driving record, and other factors. Corollas tend to be cheaper to insure than something like a Camry.

From what I found online, insurance for a 2023 Corolla costs about $223 a month on average. Young drivers pay a lot more, around $791 a month for an 18-year-old.

Farm Bureau has the cheapest coverage at $102 per month for full coverage.