Cost of Car Insurance for 23-Year-Old Males and Females

Cost of Car Insurance for 23-Year-Old Males and Females

Find Cheap 23-Year-Old Auto Insurance Quotes

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We found that the average cost of car insurance for a 23-year-old is $335 per month, or $4,021 per year, for full coverage. For 23-year-olds looking for cheap car insurance, we recommend USAA, Erie and Geico.

We collected thousands of rates across nine of the most populated states in the country to find you the cheapest car insurance for 23-year-olds. This analysis explores how the average cost of car insurance varies for 23-year-olds by insurer, age, gender, and state.

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How much does car insurance cost for 23-year-olds?

Our study found that the average cost of car insurance for a 23-year-old is $335 per month for full coverage.

Erie, which is available in 13 states, offers the cheapest car insurance for 23-year-olds at a rate of $153 per month. USAA offers the second cheapest at $159 per month. However, only current and former members of the military and their families can qualify for a USAA policy.

At $184 per month, Geico is the cheapest car insurance company for 23-year-olds that is widely available nationwide.

This graph ranks car insurance quotes for 23-year-olds across varying insurers.

Find Cheap 23-Year-Old Auto Insurance Quotes

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The widespread difference in rates from insurance companies highlights why young drivers should always compare car insurance quotes from multiple insurers before deciding on a policy.

Insurer
Monthly cost
Erie$153
USAA$159
Geico$184
Nationwide$220
Progressive$252
State Farm$253
Farmers$356
Allstate$562

How the cost of car insurance for 23-year-olds varies by gender

On average, car insurance costs $344 per month for a 23-year-old male and $326 per month for a 23-year-old female. Male drivers usually pay more for car insurance than female drivers, especially at younger ages. This is because young male drivers statistically get in more accidents compared to young female drivers.

Age
Monthly cost - male driver
Monthly cost - female driver
20$481$438
21$399$370
22$369$349
23$344$326

While the average cost of car insurance tends to be cheaper for women compared to men, some states have banned insurers from using gender to determine rates.

California, Hawaii, Massachusetts, Montana, North Carolina and Pennsylvania, as well as parts of Michigan, prohibit this practice. As a result, male and female drivers of any age should pay the same amount for auto insurance, all else being equal.

Average cost of auto insurance by age

Due to their tendency to get into more accidents, drivers under 25 face more expensive car insurance rates relative to older drivers.

Even within this age group, rates can vary significantly. A 23-year-old will pay on average $281 less per month than an 18-year-old. On the other hand, a 23-year-old will pay on average $56 more per month than a 25-year-old.

Age
Average monthly cost
18$616
19$515
20$460
21$384
22$359
23$335
24$314
25$279

The cheapest auto insurance company for 23-year-olds in each state

Geico is frequently the cheapest option for 23-year-olds, as it provided the cheapest rates in four of our nine sample states.

We did not include USAA in these recommendations, as its policies only serve current or former military members and their families.

The average cost of car insurance for 23-year-olds by state

Auto insurance costs vary substantially from state to state. For 23-year-olds, North Carolina offers the cheapest car insurance with an average rate of $145 per month, which is slightly under half the price of the national average. Michigan offers the most expensive car insurance policies for 23-year-olds in our sample with an average monthly cost of $972.

State
Average monthly cost for 23-year-old
North Carolina$145
Ohio$182
California$199
Illinois$260
New York$297
Georgia$282
Texas$320
Florida$356
Michigan$972

How to find the best cheap car insurance for a 23-year-old

Shopping around for quotes from several insurance companies is a great strategy to find cheap car insurance at any age. Additionally, auto insurance discounts commonly available to 23-year-olds and other young drivers include discounts for: being a good student, passing a defensive driving course and maintaining a clean driving record.

Different insurers will apply different discounts with varying eligibility requirements, so it's always a good idea to compare quotes from multiple insurers.

Methodology

This analysis used auto insurance quotes from thousands of ZIP codes across nine of the most populated states in the U.S. Our sample drivers were 23-year-old male and female drivers with 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.

We pulled rates for full coverage policies with the following limits:

Coverage type
Study limits
Bodily injury liability$50,000 per person/$100,000 per accident
Property damage liability$25,000 per accident
Uninsured/underinsured motorist bodily injury$50,000 per person/$100,000 per accident
Comprehensive and collision$500 deductible
Personal injury protection (PIP)Minimum when required by state

Our study pulled rates from 29 insurance companies. However, insurers were only included in the study if their policies were available in at least three of the nine states analyzed.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. The rates used were sourced publicly from insurer filings. The rates used in this study should be used for comparative purposes only — 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.