Car insurance for 24-year-olds

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Drivers who are 24 generally have several years of driving experience under their belts. Because of this, car insurance for 24-year-olds tends to be cheaper than it is for highly inexperienced teen drivers, although premiums generally continue to fall each year. Bankrate’s research into the average cost of car insurance for 24-year-olds and what factors affect this premium might help you make more informed decisions about your coverage.

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

The average full coverage car insurance premium for 24-year-old drivers with their own policy is $2,462 per year. As you gain more driving experience, assuming you are able to avoid at-fault accidents and traffic citations, your average premium should continue to drop as you get older.

However, car insurance premiums are calculated using a number of factors. Age is one, but gender, the state you live in, the type of car you drive, your driving history and the coverages you choose all impact your rate. You may pay more or less than the national average premium based on your specific rating factors.

Average car insurance costs for 24-year-old men and women

Car insurance premiums are typically higher for young males because they are statistically more likely to indulge in risky driving activities such as speeding and drinking. Men also typically get into more accidents than women, and those accidents tend to be more serious.

Average annual full coverage premium for a 24-year-old man Average annual full coverage premium for a 24-year-old woman
$2,590 $2,332

On average, 24-year-old male drivers pay about $250 more per year for car insurance than female drivers of the same age. However, age is not the only factor that impacts car insurance rates. The state you live in also plays a role in determining how much you will pay.

Average car insurance cost for 24-year-olds by state

The average cost of car insurance can vary greatly by state. One of the biggest reasons for the variation in price is the differing requirements each state has for car insurance. Some states have higher required minimum liability limits or require other types of coverage as well, such as uninsured motorist coverage or personal injury protection. Each state also has different statistics regarding accidents, weather-related damage and the cost for parts and labor, which can impact how much you pay for insurance.

State Average annual full coverage premium for 24-year-old male Average annual full coverage premium for 24-year-old female Overall average annual full coverage premium
Alabama $2,742 $2,423 $2,583
Alaska $2,546 $2,155 $2,350
Arizona $2,378 $2,190 $2,284
Arkansas $3,030 $2,617 $2,824
California* $2,872 $2,868 $2,870
Colorado $3,069 $2,713 $2,891
Connecticut $2,579 $2,233 $2,406
Delaware $2,683 $2,423 $2,568
Florida $4,018 $3,633 $3,828
Georgia $3,343 $2,799 $3,071
Hawaii* $1,272 $1,272 $1,272
Idaho $1,850 $1,608 $1,729
Illinois $2,410 $2,119 $2,267
Indiana $2,093 $1,860 $1,979
Iowa $1,943 $1,699 $1,823
Kansas $2,760 $2,435 $2,597
Kentucky $3,712 $3,240 $3,479
Louisiana $4,194 $3,763 $3,979
Maine $1,477 $1,256 $1,366
Maryland $2,716 $2,359 $2,538
Massachusetts* $1,512 $1,512 $1,512
Michigan* $3,621 $3,630 $3,625
Minnesota $2,427 $2,227 $2,329
Mississippi $2,691 $2,298 $2,494
Missouri $2,735 $2,385 $2,562
Montana* $2,640 $2,639 $2,639
Nebraska $2,350 $2,025 $2,187
Nevada $3,436 $3,065 $3,250
New Hampshire $1,976 $1,635 $1,806
New Jersey $2,836 $2,504 $2,670
New Mexico $2,266 $2,029 $2,148
New York $3,403 $3,005 $3,207
North Carolina* $1,510 $1,515 $1,512
North Dakota $1,888 $1,666 $1,777
Ohio $1,848 $1,595 $1,722
Oklahoma $2,741 $2,489 $2,615
Oregon $2,060 $1,884 $1,972
Pennsylvania* $2,434 $2,439 $2,437
Rhode Island $2,937 $2,477 $2,707
South Carolina $2,393 $2,106 $2,250
South Dakota $2,413 $2,186 $2,300
Tennessee $2,158 $1,908 $2,033
Texas $3,089 $2,539 $2,817
Utah $2,080 $1,837 $1,958
Vermont $1,993 $1,713 $1,853
Virginia $2,150 $1,839 $1,996
Washington, D.C. $2,744 $2,460 $2,602
Washington $1,920 $1,669 $1,794
West Virginia $2,348 $2,083 $2,216
Wisconsin $1,812 $1,639 $1,726
Wyoming $2,367 $1,918 $2,142

*These states do not allow insurers to rate consumers differently based on gender.

Best car insurance companies for 24-year-olds

The car insurance company that you choose also has an impact on your premiums, as well as what coverages, discounts and policy features will be available to you. If you are looking for the best car insurance for 24-year-olds, you might want to get quotes from the following carriers.

Car insurance company Average annual full coverage premium for 24-year-old males Average annual full coverage premium for 24-year-old females Overall average annual full coverage premium
Geico $1,901 $1,751 $1,826
Progressive $2,071 $1,969 $2,020
Travelers $2,109 $1,960 $2,035
USAA $1,716 $1,590 $1,654

USAA

USAA is a good carrier for young drivers in search of affordable coverage, but not everyone qualifies. USAA is a membership-based insurer for veterans, active duty and retired military personnel and their immediate families. If you do qualify, USAA provides unique insurance options for those affiliated with the military, including a discount for garaging your vehicle on a military base. Accident forgiveness coverage is also offered. If you remain accident-free for five years, your first at-fault accident after that time period will not be charged against your policy.

Learn more: USAA Insurance review

Geico

Geico has more discounts than some insurers, increasing the odds of finding ways to save on your insurance premiums. Bundling your car insurance with a renter’s insurance policy or taking a defensive driving course might save you money. Geico also has a mobile app with ratings of 4.8 out of 5.0 in both the App Store and on Google Play. Policyholders who want to handle their insurance digitally can pay bills, file claims, print ID cards and request roadside assistance from the app.

Learn more: Geico Insurance review

Progressive

Progressive’s unique tools and discounts make it a good choice for 24-year-old drivers. You can use the Name Your Price tool to see a range of coverage options within your designated budget. You may also want to consider enrolling in Progressive’s Snapshot program. Snapshot tracks your driving habits using a plug-in device or a mobile app to determine how safe of a driver you are. Depending on the state you live in, you may get a discount just for signing up, and you could earn additional savings based on your driving habits.

Learn more: Progressive Insurance review

Travelers

Although its average premium is the highest on our list, Travelers might still be a good option if you are looking for a policy that is highly customizable. The company offers several optional coverages, including new car replacement, accident forgiveness and ridesharing coverage. There are plenty of ways to save, too, with discounts for being a safe driver, having continuous insurance and insuring an electric or hybrid vehicle. Travelers also integrates with Amazon Alexa, so you can handle some of your insurance needs with just a voice command.

Learn more: Travelers Insurance review

Cheapest car insurance for 24-year-olds

Because car insurance for 24-year-olds is still more expensive than the national average, finding a cheap policy might be especially important for you. Based on our research, the following companies offers some of the cheapest average rates for 24-year-old drivers:

Car insurance company Average annual full coverage premium for 24-year-old males Average annual full coverage premium for 24-year-old females Overall average annual full coverage premium
Erie $1,496 $1,477 $1,486
USAA $1,716 $1,590 $1,654
Geico $1,901 $1,751 $1,826
State Farm $2,044 $1,818 $1,932
Progressive $2,071 $1,969 $2,020

Although these rates are all below the national average annual cost for 24-year-old drivers, you should keep in mind that the price you pay will vary based on your individual rating factors, including the state you live in, the coverages you purchase, the type of car you drive and your driving history.

How to save on car insurance for 24-year-olds

Although average premiums for 24-year-old drivers are lower than they are for teen drivers, many young adult drivers will still want to find ways to save on their auto insurance. Below are some tips to help you lower your auto insurance premium as a 24-year-old driver.

Bundle coverage

Many 24-year-olds have moved out and are living on their own. Whether you are renting an apartment or house or you have bought a condo or single family home, purchasing your renters, condo owners, or homeowners insurance and your car insurance from the same carrier might be a good choice. Many companies offer multi-policy discounts that can save you quite a bit of money.

Drive a sensible car

The car you drive has an impact on your insurance premiums. If your budget is already stretched thin, you might want to consider driving a more modest vehicle in order to save money on car insurance. If you are unsure what kind of car to look for, you should be able to get quotes from your agent or company to get an idea of what the premium for certain makes and models might look like.

Maintain a clean driving record

Accidents, tickets and DUI convictions are surcharged on your insurance policy, causing your premium to increase. Keeping a clean driving record can help you avoid these increases. Some companies offer ticket or accident forgiveness programs.These options generally cost more to participate in, but if you get into an accident and you already participate in the program, you may be able to avoid a surcharge.

How to get the best car insurance for a 24-year-old

To find the best car insurance for you, you may want to get quotes from several carriers to compare prices, coverage options and discounts. Taking customer service reviews and financial strength ratings into consideration may also be prudent. If you maintain a clean driving record, with no accidents or tickets, your auto insurance premiums should stay lower than if you have a history of citations or at-fault accidents.

Frequently asked questions

What is the best car insurance company for 24-year-olds?

The best car insurance company will be different for every driver. Getting quotes from several carriers and comparing prices and coverage options can help you to find the right company for you. Before you request quotes, it can be helpful to understand what features matter most to you. If you want to handle your insurance digitally, for example, you can research companies that have a highly-rated digital app.

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

The average annual cost of full coverage car insurance for a 24-year-old is $2,408. Your policy may be higher or lower, depending on the state you live in, the company you choose, the type of vehicle you drive, your driving history and your gender, among other factors. Shopping around to compare rates can help you find a policy within your budget.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 24-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week, drive 12,000 miles annually and have a renters insurance policy.

These are sample rates and should only be used for comparative purposes.

Gender: The following states do not use gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, Pennsylvania.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Written by
Cate Deventer
Insurance Editor
Cate Deventer is a writer, editor and insurance professional. She is currently pursuing a Bachelor’s degree in English with a concentration in professional and technical writing from Indiana University East. She began writing for Bankrate in January 2021 and has nearly a decade of experience in the insurance industry as a licensed insurance agent. Cate has worked with over a dozen insurance companies and is experienced with auto, home, flood, umbrella and life insurance.
Edited by
Insurance Editor