Why is insurance for a 2023 Corolla more expensive than a 2024? My 17-year-old son is on the policy

Why are you buying a brand new car for a 17-year-old? That’s why your insurance is so high.

Zadie said:
Why are you buying a brand new car for a 17-year-old? That’s why your insurance is so high.

Depends on the kid. I got a brand-new 2009 Corolla as a gift when I was 17, and I took care of it. I drove it until I bought my own 2023 Hybrid.

What trim level and features does the 2023 have? There could be differences in the models.

The 2024 Corolla is $193 per month, but the 2023 is $501 per month. The rate goes down a little with age, but not much until 30. Could the 2024 be safer, or will the rates change after a year?

Zayden said:
The 2024 Corolla is $193 per month, but the 2023 is $501 per month. The rate goes down a little with age, but not much until 30. Could the 2024 be safer, or will the rates change after a year?

That sounds like a mistake in the quote. The rates for both should be pretty close.

Zayden said:
The 2024 Corolla is $193 per month, but the 2023 is $501 per month. The rate goes down a little with age, but not much until 30. Could the 2024 be safer, or will the rates change after a year?

Something else must be different in the policy. Just the model year wouldn’t make that big of a difference.

Zayden said:
The 2024 Corolla is $193 per month, but the 2023 is $501 per month. The rate goes down a little with age, but not much until 30. Could the 2024 be safer, or will the rates change after a year?

I’m following this because I’m curious. The 2023 and 2024 Corollas are pretty much the same car.