Find Cheap Auto Insurance Quotes in Your Area
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?
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.
Find Cheap 24-Year-Old Auto Insurance Quotes
The wide discrepancy in auto insurance rates across insurance companies demonstrates why young drivers should always shop around for multiple quotes.
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.
Compare car insurance rates for 24-year-old males and females
The average cost of auto insurance for a 24-year-old man is $3,702, compared to $3,493 for a 24-year-old woman.
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 men, as well as those of surrounding ages, often pay 3-7% more on car insurance than their 24-year-old woman peers. This difference can get as high as 10% for drivers under 21 but tends to diminish as drivers get older.
Annual rate - male
Annual rate - female
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.
How much does auto insurance cost by age?
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.
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.
Average annual premium for 24-year-old
|Average cost of car insurance||$3,597|
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
Average annual premium
|Georgia||Georgia Farm Bureau||$2,133|
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.
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:
|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.