Average Cost of Car Insurance for 24-Year-Olds
Car insurance for a 24-year old costs an average of $245 per month for full coverage. Minimum coverage costs an average of $177 per month.
State Farm has the cheapest car insurance for 24-year-olds.
Progressive and Travelers also have cheap rates. Full coverage costs much more than minimum coverage but also covers damage to your car, so it's usually a better deal overall.
Find Cheap 24-Year-Old Auto Insurance Quotes
How much is car insurance for a 24-year-old per month?
Full coverage car insurance costs an average of $245 per month for a 24-year-old, but many companies have lower rates.
State Farm is the cheapest company for 24-year-olds for both full and minimum coverage. Full coverage from State Farm costs $188 per month, on average, while minimum coverage costs $80 per month.
USAA is cheaper than State Farm, but most people can't get a policy. You have to be a military member or have certain military family connections to get USAA. The company is usually an affordable and high-quality option.
Full coverage
Minimum coverage
Full coverage
Minimum coverage
Find Cheap 24-Year-Old Auto Insurance Quotes
Rates can differ by hundreds of dollars per month depending on the company you choose. Full coverage with Farmers costs an average of $224 more per month than State Farm, for example. 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
Full coverage
Minimum coverage
Company | Editor's rating | Monthly rate | |
|---|---|---|---|
| State Farm | $188 | |
| Travelers | $197 | |
| Progressive | $224 | |
| Geico | $235 | |
| Allstate | $366 | |
*USAA is only available to military members, veterans and their families.
Full coverage
Company | Editor's rating | Monthly rate | |
|---|---|---|---|
|
| State Farm | $188 | |
|
| Travelers | $197 | |
|
| Progressive | $224 | |
|
| Geico | $235 | |
|
| Allstate | $366 | |
*USAA is only available to military members, veterans and their families.
Minimum coverage
Company | Editor's rating | Monthly rate | |
|---|---|---|---|
|
| State Farm | $80 | |
|
| Progressive | $83 | |
|
| Travelers | $93 | |
|
| Geico | $99 | |
|
| Allstate | $176 | |
*USAA is only available to military members, veterans and their families.
24-year-old car insurance vs. other ages
24-year-olds pay $287 less each month, on average, than 18-year-old drivers for full coverage car insurance.
That's because, by the time you turn 24, you likely have several years of driving experience. Insurance companies believe you're less likely to be in accidents compared to younger drivers. By the time you turn 30, your rates could be $329 per month cheaper than an 18-year-old.
Is car insurance cheaper for 24-year-olds?
Car insurance is cheaper for 24-year-olds compared to younger drivers. But 24-year-olds still pay more than older drivers. Rates usually drop as you age and gain more driving experience. When you reach your mid-to-late 60s, prices start to ramp up again.
If you get your license for the first time when you're 24, you'll probably pay more than 24-year-olds who have been driving for several years. As you get older and gain more experience behind the wheel, your rates will probably go down, unless you file a claim after an accident you cause.
Cost of car insurance for 24-year-old female vs. 24-year-old male
Men who are 24 pay an average of $9 more per month than 24-year-old women for full coverage car insurance.
At age 24, men pay an average of $250 per month for full coverage, while women pay $241 per month.
Car insurance is usually more expensive for men than it is for women. Men are statistically more likely to engage in risky driving behaviors like speeding and driving drunk. That means they're more likely to get into accidents, so insurance companies charge men higher rates.
24-year-old full coverage car insurance rates by gender
Company | Male | Female | |
|---|---|---|---|
|
| State Farm | $199 | $177 |
|
| Travelers | $200 | $194 |
|
| Progressive | $229 | $219 |
|
| Geico | $240 | $231 |
|
| Allstate | $367 | $365 |
*USAA is only available to military members, veterans and their families. Average rates are full coverage.
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.
Car insurance rates for 24-year-olds by state
Car insurance costs for a 24-year-old are different depending on where you live.
In Pennsylvania, for example, a 24-year-old pays $213 per month, on average, for a full coverage policy. But in Texas, the same 24-year-old would pay an average of $273 per month.
State | State average |
|---|---|
| Illinois | $239 |
| New York | $257 |
| Pennsylvania | $213 |
| Texas | $273 |
Average rates are for 24-year-old with full coverage.
Find the Cheapest Insurers for Young Drivers 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. Depending on where you live, 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.
You can also lower your insurance costs by taking advantage of discounts.
Common car insurance discounts 24-year-old drivers can get 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 should a 24-year-old pay for car insurance?
Car insurance for a 24-year-old costs $245 per month, on average, for full coverage. Minimum coverage costs an average of $177 per month for a 24-year-old. Your rate depends on where you live, your driving history, the car you drive and more.
Is insurance cheaper at 24?
Yes, car insurance rates are lower at 24 than they are when you're younger because you're a more experienced driver and less likely to get into accidents. Rates continue to drop, on average, until you reach your mid-60s, when they start to go back up.
What company has the cheapest car insurance for 24-year-olds?
Out of the major car insurance companies, State Farm has the cheapest rates for 24-year-olds at $188 per month for full coverage and $80 per month for minimum coverage. USAA might be a cheaper option, but you have to be a military member, veteran or family member to get coverage from USAA.
Methodology
To find the cost of car insurance for 24-year-olds, ValuePenguin collected quotes from four of the most populated 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.
Minimum coverage rates reflect only the required minimum coverage in each state. 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 seven insurance companies. Not every company was available in every state.
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.