Average Cost of Car Insurance for 24-Year-Olds
Find Cheap 24-Year-Old Auto Insurance Quotes
The average cost of car insurance for a 24-year-old is $223 per month for a full coverage policy.
Erie, Farm Bureau and Travelers offer the best cheap car insurance for 24-year-olds.
Cheapest car insurance for 24-year-olds
Erie offers the cheapest car insurance for 24-year-olds, at $129 per month for a full coverage policy.
But car insurance from Erie is only available in 12 states and Washington, D.C.
USAA offers the second-cheapest rate, at $145 per month for full coverage. However, only military members, veterans and their families can buy a USAA policy.
Travelers is the cheapest major car insurance company for 24-year-olds. A policy full coverage from Travelers costs $181 per month, which is still 19% cheaper than average.
Find Cheap 24-Year-Old Auto Insurance Quotes
The cost of car insurance for 24-year-olds varies by $195 per month between the most expensive company, Allstate, and the cheapest company, Erie. That's why young drivers should always shop around for multiple quotes to find the cheapest car insurance.
Cheap car insurance for 24-year-old drivers
Company | Monthly rate | ||
|---|---|---|---|
| Erie | $129 | |
| Farm Bureau | $165 | |
| Travelers | $181 | |
| Auto-Owners | $182 | |
| Geico | $198 | |
*USAA is only available to military members, veterans and their families.
Cost of insurance for 24-year-old men vs. women
The average cost of car insurance for a 24-year-old man is $228 per month for a full coverage policy. In comparison, a 24-year-old woman pays around $218 per month for the same coverage.
Car insurance is typically more expensive for men.
That's because they tend to have riskier driving behavior and get into more accidents. And the difference in price between genders is often greater among teenagers and young adults.
Company | Male | Female |
|---|---|---|
| Erie | $127 | $131 |
| Farm Bureau | $178 | $153 |
| Travelers | $183 | $179 |
| Auto-Owners | $185 | $178 |
| Geico | $204 | $192 |
*USAA is only available to military members, veterans and their families.
However, a few states don't allow insurance companies to use gender to determine your car insurance rates. These states include:
- California
- Hawaii
- Massachusetts
- Michigan
- Montana
- North Carolina
- Pennsylvania
This means that 24-year-old male drivers pay the same as female drivers in these states.
How much is car insurance for a 24-year old?
The average cost of full coverage car insurance for a 24-year-old is $223 per month.
As a 24-year-old driver, you can expect your car insurance rates to go down 11% when you turn 25. By the time you're 30, you'll be paying around 20% less for car insurance.
Car insurance for young drivers under 25 can be costly. That's because they have less experience behind the wheel, which means insurance companies believe they're more likely to cause an accident.
Car insurance for 24-year-olds by state
The average cost of car insurance for 24-year-olds can vary by up to $211 per month, depending on which state you live in.
For example, the cheapest car insurance for 24-year-olds in North Carolina comes from Erie, where a policy costs $70 per month. But the cheapest policy for 24-year-olds in Florida costs $183 per month at State Farm. That's a difference of $113 per month.
Cheapest car insurance company by state for 24-year-old drivers
State | State average | Cheapest rate | |
|---|---|---|---|
| California | $193 | Geico | $127 |
| Florida | $342 | State Farm | $183 |
| Georgia | $227 | Country Financial | $181 |
| Illinois | $204 | Country Financial | $111 |
| Michigan | $259 | Geico | $111 |
USAA is not included in these recommendations, because it's only serves current or former military members and their families.
Find the Cheapest Car Insurance in Your State
How to get cheap car insurance as a 24-year-old
To find the cheapest car insurance, 24-year-old drivers should shop around for quotes and take advantage of discounts.
You should always compare quotes from multiple insurance companies to find the best car insurance plan.
Companies consider lots of factors when deciding how much to charge for car insurance. This may include your age, driving record, claims history, the type of car you drive and where you live.
That's why the company that offers you the cheapest car insurance rate could be different from your parents, friends or neighbors.
Twenty-four-year-olds can also lower their insurance costs by taking advantage of discounts.
Common car insurance discounts available to 24-year-old drivers include:
- Good student discount for full time students with a B grade point average or higher.
- Defensive driving discount for young drivers who take an approved training course.
- Safe driver discount for people who avoid accidents or tickets for three to five years.
The discounts available and how much you'll save may vary depending on the insurance company. So it's important to see which discounts you're eligible for when you're comparing quotes.
Frequently asked questions
How much is car insurance for a 24-year-old per month?
The average cost of car insurance for a 24-year-old is $223 per month for a full coverage policy. The cheapest car insurance for 24-year-olds can be found at Erie, Farm Bureau and USAA.
How much is car insurance for a 24-year-old per month in Florida?
The average cost of full coverage insurance for a 24-year-old driver in Florida is $342 per month. State Farm has the cheapest rates for 24-year-olds in Florida, at $183 per month.
Do insurance rates go down at 24?
Yes, insurance rates will go down when you turn 24. As a 23-year-old driver, you can expect your rates to go down by around 6% when you turn 24.
How much is car insurance for a 24-year-old in California?
A 24-year-old driver in California can expect to pay around $193 per month for full coverage insurance. Geico has the cheapest rates for 24-year-olds in California, at $127 per month for a full coverage policy.
Methodology
To find the cost of car insurance for 24-year-olds, ValuePenguin collected quotes from thousands of ZIP codes across 10 of the most populous states in the U.S. Quotes are for 24-year-old men and women with clean driving records and good credit scores who own a 2015 Honda Civic EX.
Full coverage rates include higher liability limits than the state requirements, along with comprehensive and collision coverage.
- Bodily injury liability: $50,000 per person and $100,000 per accident
- Property damage liability: $25,000 per accident
- Uninsured and underinsured motorist bodily injury: $50,000 per person and $100,000 per accident
- Personal injury protection (PIP): Minimum, when required by state
- Medical payments: $5,000
- Comprehensive and collision deductible: $500 deductible
This analysis included 13 insurance companies. Insurance companies were only added to our list of average prices if their policies were available in at least four of the 10 states.
ValuePenguin's analysis collected insurance rate data from Quadrant Information Services. The rates used to calculate the averages were sourced publicly from insurer filings. These averages should only be used for comparative purposes — your own quotes may be different.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.