Most young adults begin to hit their stride when they reach the age of 23. Many will have graduated college, begun careers and begun considering the next steps in their adult lives  such as buying a house or getting married.

Each step of the journey will be taken into account by your insurance carrier and in most cases, lead to lower car insurance premiums.

“At this stage, carriers are starting to have a fuller profile of you as a driver,”  says Jana Foster, owner of Nevada Insurance Agency Co., a full-service brokerage with offices in Carson City and Reno, Nevada. “If you have a good driving record, a good credit score and have graduated with a degree, the carrier will say great, we’re going to go ahead and lower your rates.”

The average national car insurance rate for a 23-year-old driver is about $2,226 per year or $186 per month, for their own full coverage policy. It represents a $178 drop from what a driver would expect to pay at age 22 and less than half of what they would have paid at age 18.

Read on to learn more about car insurance for 23-year-olds.

Key Highlights
  • For a full coverage policy, a 23-year-old driver pays an average of $2,226 per year or $186 monthly for car insurance.
  • Male drivers are still assessed at higher rates than females at this age, but the difference is getting smaller. 
  • Males pay an annual average of $2,331 for a full coverage policy, while females pay $2,121.
Written by:
Mel Duvall
Contributing Researcher
Mel Duvall is an award-winning senior business writer and communications professional. He served as Senior Media Manager for Husky Energy, a fully integrated energy company with operations in Canada, the United States, China and Indonesia. Mel also served a three-year term on the Mount Royal University Journalism Committee.
Reviewed by:
Laura Longero
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Executive Editor
Laura is an award-winning editor with experience in content and communications covering auto insurance and personal finance. She has written for several media outlets, including the USA Today Network. She most recently worked in the public sector for the Nevada Department of Transportation.

Car insurance for young adults: What’s the average cost for a 23-year-old?

Tip iconAverage car insurance rates for 23-year-olds

The average car insurance rate for a 23-year-old who has their own policy is as follows per year:

  • State minimum liability coverage: $662
  • Liability coverage with limits of 50/100/50: $808
  • 100/300/100 liability with a $500 comprehensive and collision deductible: $2,226

What you pay will vary depending on many factors, including the insurance company you choose, where you live, coverage levels and the deductible you select.

The table below shows the cost of car insurance for males vs. females at various coverage levels in each state.

Annual average car insurance rates for 23-year-olds
  State State Minimum Female State  Minimum Male Liability Only Female Liability Only Male Full Coverage Female Full Coverage Male
Washington D.C.$732$850$840$974$2,337$2,892
North Carolina$442$442$486$486$1,529$1,529
North Dakota$432$442$450$463$1,645$1,845
New Hampshire$595$645$654$708$1,992$2,224
New Jersey$1,179$1,198$1,364$1,403$2,399$2,645
New Mexico$531$559$743$770$1,977$2,130
New York$1,097$1,186$1,204$1,312$2,558$2,916
Rhode Island$835$890$999$1,056$2,376$2,640
South Carolina$921$970$1,143$1,188$2,669$2,883
South Dakota$354$385$380$412$1,928$2,231
West Virginia$591$639$669$723$2,190$2,530


  • State Minimum: State Minimum Liability Only 
  • Liability Only: 50/100/50 Liability Only
  • Full Coverage: 100/300/100 is liability with comp/collision and $500 deductible.

Check out our detailed guide on the average car insurance rates by age

How much is car insurance for a 23-year-old each month?

The table below shows how much car insurance costs for a 23-year-old per month, on average.

Monthly car insurance cost for 23-year-olds 
23-year-old policyNational average cost per month
Liability-only coverage$55
50/100/50 coverage$67
Full 100/300/100 coverage$186

How much is car insurance for a 23-year-old male?

At 23 years old, drivers particularly males, are still in the higher risk category. The Insurance Institute for Highway Safety reports that 20- to 24-year-old males were involved in 2,038 fatal accidents in 2020 or a rate of about 18.5 per 100,000 male drivers.

That’s even more than the fatal accident rate of 14.8 for 16- to 19-year-old male drivers.

But at this stage carriers are beginning to recognize that drivers are becoming more stable and with each step towards full adulthood – a home, a career and perhaps marriage – the profile looks less risky.

The average national full coverage insurance policy cost for a 23-year-old male with a $500 comprehensive/collision deductible is $2,331. That’s a savings of $202 from the $2,533 they would have paid at age 22.

Average annual insurance rates for a 23-year-old males
Type of coverageAverage annual rate 23-year-old males
Liability-only coverage$680
50/100/50 coverage$827
Full 100/300/100 coverage$2,331

Carriers may assess males substantially differently at this age, so it can pay to shop around.

How much is car insurance for a 23-year-old female?

Females are still deemed higher risk at 23, but most carriers recognize they are becoming less risky. 

The decline in their premiums will depend highly on their driving record and credit score. Yes, credit score.

It may not be immediately apparent what a credit rating has to do with a person’s driving, but it does play a significant role in how your premiums are set in the states that allow credit records to be used to determine premiums.

“Carriers have been able to show, to the satisfaction of various courts, that a person’s credit rating is indicative of their driving tendencies,” says Kevin Lynch, an assistant professor of insurance at The American College of Financial Services in Bryn Mawr, Penn.

So having a good credit rating will lead to lower insurance costs, for both females and males.

The average national cost of a full coverage insurance policy for a 23-year-old female with a $500 comprehensive/collision deductible is $2,121, a savings of about $153 from what they would have paid at age 22. 

Average annual insurance rates for a 23-year-old females
Coverage levelAverage annual rate 23-year-old female
Liability-only coverage$644
50/100/50 coverage$789
Full 100/300/100 coverage$2,121

What’s the best car insurance for 23-year-old drivers?

Start with liability car insurance, which pays for others’ injuries and damage you cause to their property in an accident. Typically, the state-minimum coverage isn’t enough – medical costs can quickly escalate if there are significant injuries following an accident and property damages.

If you’re financing a vehicle, your lender might require comprehensive and collision coverage. If you paid off your car, you decide if you want these coverages, which cover your car following a crash and for damage due to fire, hail, vandalism and animal strikes.

If you opt for comprehensive insurance and collision coverage, consider higher deductibles to lower your rate, and remember that you’ll be responsible for the deductible.

Car insurance discounts for 23-year-olds

The three biggest favors any young adult can do for themselves to get the lowest insurance rates is to stay accident-free, have a clean driving record and maintain a good credit score.

After that, there are several other good strategies to employ.

If still in school, some car insurance companies offer discounts to students with good grades in college, generally a 3.0 or better grade-point average. 

Other university discounts also might be available, such as student-away discounts and special rates for students and alumni. 

Even if you’re not attending school, see what other discounts the carrier offers.

“Carriers will offer discounts for establishing paperless billing, paying your premium upfront, or bundling if you have other insurance, such as home or renter’s insurance,” notes Foster of Nevada Insurance Agency.

If you’re working in a trade or have started a career at a new company, check to see if your trade association has a discount arranged with an insurance carrier or if your company has a partnership.

Foster notes that many professional associations, from doctors to lawyers, accountants, dentists and others, may be eligible for discounts from certain carriers.

Beyond discounts, be mindful of the type of car you buy. A practical, safe and reliable car will carry a much lower insurance rate than a sports car or luxury vehicle. 

Compare rates for car models on, including a rundown of the top teen and young adult-ready cars that cost less than $15,000 with high safety ratings.

Guide: How to lower car insurance in 2023

Final thoughts on car insurance for 23-year-olds

As you gain more experience driving, your auto insurance rates should fall. The even better news is it will continue to get cheaper as you advance towards 30.

The average full coverage insurance rate for a 30-year-old is $1,673, about $553 less than you’ll pay at 23.

Also, shop around and compare rates with several different insurers. This should help you get an excellent policy at the best price. You can easily do that with an online calculator or have a broker do the legwork.

Resources & Methodology


Insurance Institute for Highway Safety, Highway Loss Data Institute. “Fatality Facts 2020, Males and Females.” Accessed May 2024.

Methodology commissioned Quadrant Information Services in 2023 to field rates for auto insurance for 23-year-olds at various coverage levels (state minimum, 50/100/50 liability and 100/300/100 full coverage) and for males and females in each state.

Laura Longero

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Laura Longero

Executive Editor

Laura is an award-winning editor with experience in content and communications covering auto insurance and personal finance. She has written for several media outlets, including the USA Today Network. She most recently worked in the public sector for the Nevada Department of Transportation.

John McCormick

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John McCormick

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John is the editorial director for, and Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology.

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Contributing Researcher

Mel Duvall is an award-winning senior business writer and communications professional. He served as Senior Media Manager for Husky Energy, a fully integrated energy company with operations in Canada, the United States, China and Indonesia. Mel also served a three-year term on the Mount Royal University Journalism Committee.