Car insurance becomes increasingly affordable as young adults enter their mid-20s. Being accident-free, having few or no traffic violations and maintaining good credit scores will all help lower it more quickly.

Yes, a good credit score.

“It’s not immediately clear why having a good credit rating leads to lower insurance, but it does,” says Kevin Lynch, an assistant professor of insurance at The American College of Financial Services in Bryn Mawr, Penn.

“Carriers have been able to show, to the satisfaction of various courts, that a person’s credit rating is indicative of their driving tendencies.”

The average national car insurance rate for a 24-year-old driver is about $2,095 per year or $175 per month, for their own full coverage policy. It represents a $131 drop from what a driver would expect to pay at age 23 and about $1,165 less than what they would have paid if aged 20.

Read on to learn more about car insurance for 24-year-olds.

Key Highlights
  • For a full coverage policy, a 24-year-old driver pays an average of $2,095 per year or $175 monthly for car insurance.
  • Male drivers are still assessed at higher rates than females at this age, but the gap is much smaller than in their teens and early 20s. 
  • Males pay an average of $2,180 for a full coverage policy, while females pay $2,010 annually.
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 24-year-old?

Tip iconAverage car insurance rates for 24-year-olds

The average annual car insurance rate for a 24-year-old who has their own policy:

  • State minimum liability coverage: $621
  • Liability coverage with limits of 50/100/50: $761
  • 100/300/100 liability with a $500 comprehensive and collision deductible: $2,095

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

See the table below to see how much car insurance costs for males vs. females at various coverage levels in each state.

Annual average car insurance rates for 24-year-olds
State State Minimum Female State  Minimum Male Liability Only Female Liability Only Male Full Coverage Female Full Coverage Male
Washington D.C.$689$755$791$866$2,206$2,611
North Carolina$435$435$478$478$1,504$1,504
North Dakota$409$413$426$431$1,565$1,730
New Hampshire$566$609$623$669$1,886$2,092
New Jersey$1,152$1,156$1,330$1,352$2,322$2,538
New Mexico$509$529$718$735$1,900$2,032
New York$1,062$1,134$1,166$1,254$2,475$2,777
Rhode Island$777$819$936$977$2,210$2,418
South Carolina$862$893$1,077$1,101$2,503$2,665
South Dakota$331$357$355$382$1,843$2,117
West Virginia$559$591$633$668$2,036$2,297


  • 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 24-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 24-year-olds 
24-year-old policyNational average cost per month
Liability-only coverage$52
50/100/50 coverage$63
Full 100/300/100 coverage$175

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

At 24 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 higher than the fatal accident rate of 14.8 for 16- to 19-year-old male drivers.

However, at age 24, insurance companies recognize male drivers are coming out of the riskiest category and the price gap between male and female drivers becomes much smaller than at younger ages.

Jana Foster, the owner of Nevada Insurance Agency Co., a full-service brokerage with offices in Carson City and Reno, Nevada, says other factors than age come into play as to why carriers tend to charge males higher premiums.

“In general, at the younger ages males tend to drive more than females and the carriers have a lot of data to back that up,” she says. “It’s not a huge difference and tends to narrow over time.”

The average national full coverage insurance policy cost for a 24-year-old male with a $500 comprehensive/collision deductible is $2,180. That’s a savings of $151 from the $2,331 they would have paid at age 23.

Average annual insurance rates for a 24-year-old male
Coverage typeAverage annual rate 24-year-old male
Liability-only coverage$633
50/100/50 coverage$773
Full 100/300/100 coverage$2,180

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

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

Females are still deemed higher risk at age 24, but most carriers recognize they are becoming less risky. 

The amount their premiums decline will depend on their driving record and credit score. It may not be immediately apparent what a credit rating has to do with a person’s driving. Still, 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.

The average national cost of a full coverage insurance policy for a 24-year-old female with a $500 comprehensive/collision deductible is $2,010, a savings of about $111 from what they would have paid at age 23. 

Average annual insurance rates for a 24-year-old females
Policy typeAverage annual rate 24-year-old female
Liability-only coverage$609
50/100/50 coverage$748
Full 100/300/100 coverage$2,010

What’s the best car insurance for 24-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 significant injuries occur in an accident.

If you’re financing a vehicle, lenders usually 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.

As young adults earn more disposable income, they will want more insurance, such as comprehensive insurance and collision coverage. If you have a higher deductible, you can lower your rate, but you’ll be responsible for paying the deductible if you make a claim.

Car insurance discounts for 24-year-olds

The three biggest favors any young adult can do for themselves in terms of getting the lowest insurance rates are to stay accident-free, maintain a clean driving record and earn a good credit score.

If still in school, some car insurance companies offer discounts to students with good grades, 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.

Nevada Insurance Agency’s Foster notes that carriers will offer discounts for establishing paperless billing, paying your premium upfront, or bundling if you have other insurance, such as home or renters policies.

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

“Keep in mind, they won’t just offer you those discounts, you have to ask or let them know,” she says. “That’s where a good agent can be really helpful.”

Beyond discounts, be mindful of the type of car you buy. A practical, safe and reliable car will have a much lower insurance rate than a sports or luxury vehicle. Compare rates on car models like 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 24-year-olds

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

The average full coverage insurance rate for a 30-year-old is $1,673, about $422 less than you’ll pay at 24.

Finally, shop around and compare rates with several different insurers. This should help you get an excellent policy at the best price with an online calculator.

Resources & Methodology


Insurance Institute for Highway Safety, Highway Loss Data Institute. “Fatality Facts 2020, Males and Females.” Accessed April 2023.

Methodology commissioned Quadrant Information Services in 2023 to field rates for auto insurance for 24-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 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.