Car Insurance Costs for 24-Year-Old Males and Females

Find the Cheapest Auto Insurance Quotes in Your Area

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For 24-year-olds, the average cost of car insurance is $3,597 per year, or approximately $300 per month. 24-year-olds generally pay about $250 less than 23-year-olds ($3,840) and about $400 more than 25-year-olds ($3,207). Young drivers under 25, and especially teenagers, pay more for car insurance than older drivers. For 24-year-olds looking for cheap car insurance, we recommend Erie, USAA and GEICO.

This guide compares average costs of auto insurance for 24-year-olds by gender, company and state. Nevertheless, young adults should use this guide as a general framework to shop around for car insurance. To find the most affordable car insurance coverage, we always recommend comparing quotes and identifying potential discounts from multiple insurance companies.

How much is car insurance for a 24-year old?

The average cost of auto insurance for a 24-year-old is $3,597, or nearly $300 per month.

For young drivers under 25, car insurance can be especially costly. And just a small difference in age can have a significant impact on rates for young adults. The average cost of full coverage auto insurance for 24-year-olds, including liability insurance, is more than $3,500 cheaper than that of 18-year-olds and still $400 more expensive than that of 25-year-olds.

AgeAverage annual premium
18$7,179
19$6,021
20$5,333
21$4,453
22$4,128
23$3,840
24$3,597
25$3,207

Compare car insurance rates for 24-year-old males and females

The average cost of auto insurance for a 24-year-old male is $3,702, compared to $3,493 for a 24-year-old female.

The average price of car insurance is typically more expensive for men relative to women, and rate disparities are often larger among teenagers and young adults. Twenty-four-year-old males, as well as those of surrounding ages, often pay 3-7% more on car insurance than their 24-year-old female peers. This difference can get as high as 10% for drivers under 21 but tends to diminish as drivers get older.

AgeAnnual rate - maleAnnual rate - femalePercent difference
23$3,965$3,7167%
24$3,702$3,4936%
25$3,247$3,1673%

A few states and local municipalities, however, prohibit insurers from using gender as a variable to determine car insurance premiums. These include California, Hawaii, Massachusetts, Montana, North Carolina, Pennsylvania and parts of Michigan. Because gender cannot be used to determine rates in these areas, men and women of any age should pay similar amounts for auto insurance.

Which companies offer the best car insurance for 24-year-olds?

Car insurance costs for 24-year-olds differ substantially by insurer. Erie, USAA and GEICO offer the cheapest rates for 24-year-olds at $1,472, $1,747 and $2,266 in annual premiums, respectively. Erie's rates are more than $4,000 cheaper than that of the most expensive insurer in our sample, Allstate, which costs $5,598.

The wide discrepancy in auto insurance rates across insurance companies demonstrates why young drivers should always shop around for multiple quotes.

InsurerAnnual premium
Erie$1,472
USAA$1,747
GEICO$2,266
Nationwide$2,602
Progressive$2,992
State Farm$3,091
Allstate$5,598

Of note, USAA is among the lowest cost car insurers for 24-year-olds in our study, though only current and former members of the military and their families are eligible for policies at the company. Erie's car insurance rates are ahead of USAA, though Erie's policies are only available in 13 states. GEICO was the largest national insurer in our study offering relatively cheap auto insurance quotes.

The cheapest auto insurance for 24-year-olds by state

The average cost of car insurance varies substantially by state and area of residency. Below we compare average car insurance prices for the 10 largest states by population and identify the insurance companies offering the lowest cost car insurance policy in each.

Auto insurance in North Carolina is the cheapest for 24-year-olds at $1,592, less than half of the national average. By contrast, auto insurance in Michigan was by far the most expensive for 24-year-olds, at an annual cost of $10,464, or nearly three times the national average.

StateAverage annual premium for 24-year-old
North Carolina$1,592
Ohio$2,187
Pennsylvania$2,307
California$2,460
Illinois$2,895
Texas$3,079
New York$3,270
Georgia$3,460
Average cost of car insurance$3,597
Florida$4,259
Michigan$10,464

For each of the 10 largest states by population, we identified the cheapest car insurance companies for 24-year-olds.

The best, cheap car insurance company for 24-year-olds in the 10 most populated states

StateInsurerAverage annual premium
CaliforniaMercury$1,847
FloridaState Farm$2,955
GeorgiaGeorgia Farm Bureau$2,133
IllinoisState Farm$1,665
MichiganProgressive$3,904
New YorkGEICO$2,602
North CarolinaGEICO$570
OhioGEICO$1,548
PennsylvaniaErie$1,533
TexasState Farm$2,011
USAA was excluded, as policies are only available for current or former military members and their families. If included, USAA would offer the cheapest car insurance for 24-year-olds in Georgia, Illinois, Michigan, New York, Pennsylvania and Texas.

Shopping for cheap car insurance as a 24-year-old

We always recommend comparing quotes from multiple insurance companies to find the best car insurance plan. Insurers use many variables to price car insurance rates. Relevant factors may include not only your age, but also your driving record, history of claim filings, vehicle type and more. Given the multitude of factors affecting car insurance costs, the insurer that offers you the cheapest rate is often very different for someone else, for instance a first-time driver.

When possible, 24-year-olds can also reduce their costs by remaining on their parents' car insurance policies and taking advantage of eligible discounts. A combined family policy is usually cheaper than paying for two separate policies, especially for young people and new drivers.

Common auto insurance discounts available to 24-year-old drivers include those for:

  • Having good student grades.
  • Maintaining a good credit score.
  • Keeping a clean driving record.

The discounts available and corresponding reductions in cost can vary significantly depending on the insurance company. This variation further highlights the benefits of shopping around for multiple car insurance quotes to ultimately get a good rate.

Methodology

This study used auto insurance quotes from thousands of ZIP codes across the 10 largest states in the U.S. by population. Sample drivers were 24-year-old men and women who drove a 2015 Honda Civic EX. All other variables affecting car insurance costs were consistent, including that drivers were single and had a clean driving record. Coverage levels in the comprehensive car insurance policy, including liability insurance, are listed below. These coverage limits are slightly higher than any individual state's minimum coverage requirements:

Coverage typeStudy limits
Bodily liability$50,000 per person/ $100,000 per accident
Property damage$25,000 per accident
Uninsured/Underinsured motorist BI$50,000 per person/ $100,000 per accident
Comprehensive & collision$500 deductible
Personal injury protection (PIP)min. when required by state

The study included 23 insurers, though car insurance premiums were only included in the analysis if their policies were available in at least three of the 10 states.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

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