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Ava Lynch

Insurance Analyst

  • 7+ years of Experience in the Insurance Industry

Ava joined The Zebra as a writer and licensed insurance agent in 2016. She now works as a senior insurance contributor, providing insights and data a…

What's the average car insurance rate for 24-year-olds?

Becoming 24 is the first step into the semi-daunting milestone of your mid-twenties. While you’re only one year away from the big year of insurance savings, you are still paying an average of $1,913 per year on auto insurance — 24% more than the national average. Understandably, this makes the need for insurance savings quite urgent. Because it may seem like a daunting task, we decided to create the best practices for car insurance at 24 — starting first with how to choose a quality, affordable insurer and what the most important factors are when it comes to calculating your rate.

What is the cheapest company for you?

Cutting right to the key question: which company is the cheapest? We decided to sample eight of the most recognized companies using a driver profile outlined below. You should consider this data as a starting point — our profile is simply a generic base.

Interested in how each company stacks up in terms of customer satisfaction? Check out our guide to the top-rated car insurers.

Company Avg. Annual Premium Avg. Monthly Premium
USAA $1,700 $142
GEICO $1,816 $151
Nationwide $1,926 $160
State Farm $2,033 $169
Progressive $2,301 $192
Farmers $2,312 $193
Allstate $3,081 $257

The Zebra’s Dynamic Insurance Rating Tool data methodology

The Zebra’s Dynamic Insurance Rating Tool for home and auto insurance rates utilizes the latest ZIP code-level rate filings from across the U.S., sourced from Quadrant Information Services and S&P Global. These filings, typically updated annually or biennially by insurers, are verified through Quadrant’s QA process and then integrated into The Zebra’s estimator.

The displayed rates are based on a dynamic home and auto profile designed to reflect the content of the page. This profile is tailored to match specific factors such as age, location, and coverage level, which are adjusted based on the page content to show how these variables can impact premiums.

For a comprehensive understanding, see our detailed methodology.

How does gender impact your rate?

The difference in what men versus women pay for auto insurance is far more evident when drivers are young — and therefore, less experienced on the road. On average, male drivers between the ages of 16 and 23 paid 14% more in premium than their female counterparts. This gap starts to shift as these young drivers age.

Average annual premiums for 24 year olds by gender
Gender Avg. Annual Premium
Female $2,169
Male $2,340

Annually, male drivers at this age pay 8% more than do female drivers or an extra $144 per year. See below to see a more detailed breakdown of the cheapest insurers by gender.


What's the cheapest company for 24-year-old males?

Using the same driver profile we used above, we surveyed some of the most popular insurance providers to find the most affordable rate for a male 24-year-old driver.

Average annual premiums for 24 year old male drivers
Company Avg. Annual Premium Avg. Monthly Premium
USAA $1,745 $145
GEICO $1,871 $156
Nationwide $1,993 $166
State Farm $2,151 $179
Progressive $2,353 $196
Farmers $2,375 $198
Allstate $3,271 $273

GEICO and USAA offered the cheapest rates for this demographic, with a monthly savings of over $50 compared to the group average.


What's the cheapest company for 24-year-old females?

We conducted the same survey as above but with female drivers at age 24. Again, GEICO and USAA came out on top, offering an average monthly payment of about $111 — which comes out to a savings of over $30 a month compared to other insurance providers.

Average annual premiums for 24 year old female drivers
Company Avg. Annual Premium Avg. Monthly Premium
USAA $1,655 $138
GEICO $1,761 $147
Nationwide $1,858 $155
State Farm $1,915 $160
Progressive $2,248 $187
Farmers $2,250 $187
Allstate $2,891 $241

The most effective way to land the most affordable premium — at any age — is to compare your options before the end of every policy period. Don't be afraid to shop around. We can help you find the best rate, no matter your age, driving history, or location, and help you view quotes from insurers across the US. Enter your ZIP code below to get started.

Get auto insurance for 24-year-olds today!

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Why does your location matter?

Insurance is regulated by the laws of your state and calculated by your zip code, which means it's location-dependent. If you live in a state with high insurance regulations, such as Florida, you can expect your insurance premium to be high regardless of the company you chose. Furthermore, if you live in a ZIP code that is in a coastal region, you can expect the threat of flooding to cause your premium to be higher.

Sometimes, it’s not your company that determines your rate but rather where you live.

Average premiums in the most expensive states for auto insurance
State Avg. Annual Premium
Florida $2,923
Louisiana $2,702
Kentucky $2,567
Rhode Island $2,329
Nevada $2,229

Why should you think about your credit score?

There are many things that affect your car insurance premiums but your credit score is a significant rating factor. Insurance companies see drivers with poor credit (524 or below) as more likely to file a claim than drivers with above an 823 credit score. What’s more, the claims they file are more likely to be costlier than claims filed by drivers with higher scores.

Learn more about how good credit and bad credit affect car insurance rates.

However, some states — CaliforniaHawaii, and Massachusetts — ruled this practice as discriminatory and feel that your driving history with annual mileage is a better indicator of your driving behavior. Just another reason why your location matters!

Average annual premium by credit score
Credit Tier Avg. Annual Premium
Poor $3,147
Fair $2,071
Good $1,760
Very Good $1,627
Excellent $1,506

How does your education impact your insurance?

Similar to your credit score, insurance companies see higher amounts of education as a risk-reducing factor and thus will lower your premiums. Unlike your credit, however, the difference is rather minimal. Drivers with no high school diploma pay only an average of $25 more per year than those with degrees.

Average annual premiums by education level
Education Avg. Annual Premium
None $1,791
High School $1,782
Bachelors $1,760
Masters $1,757
PHD $1,757

Why should you choose a moderate vehicle?

If your end goal for shopping for car insurance is to save money, you should think about the impact a car like a brand new BMW will have on your premium. Vehicles with a high MSRP will result in a higher premium as your insurance company needs to reduce their financial exposure.

Average annual premium by vehicle type
Sedan Hybrid Luxury car SUV Truck Van
$1,137 $1,055 $1,045 $967 $865 $844

Look for discounts

In addition to following our steps above, there are some additional discounts you should think about. Let’s get to it.


Good driver discount

This discount is automatically added to your policy when you are quoted using your driver's license number. In addition to receiving a discount for a good driving record, you should try to avoid the premium increases that come from a driving citation or incident listed below.

Average Annual increase in premium by violation type
Accident/Violation Premium Increase
Speeding 11 - 15 MPH Over Limit $337
Speeding 16 - 20 MPH Over Limit $385
Speeding 21 - 25 MPH Over Limit $460
At-Fault Accident $767
Reckless Driving $1,038
Racing $1,131
DUI $1,099

Bundle your policies

Getting a renters insurance policy with the same company can save you money! Renters insurance cost around $150 a year and cover your liability and your belongings in the event you are found liable for damages or your belongings are destroyed.

Average bundling savings for renters
Renter Renter with Multi-Policy Annual $ Savings
$1,548 $1,469 $79

Good student and defensive driver discounts

Drivers who are under 25 are eligible for these discounts as long they have proof. In order to qualify for the good student discount, you must have a GPA above a 3.0 (or B average). For the latter, you need to have taken a pre-approved course and provide proof to your insurer that you have taken the course. While the amount of these discounts decrease as you age, you can see an average savings of $107 per year!

Age Male Female
23 $151 $88
24 $135 $78
25 $17 $17

Summed up

While turning 24 means you’re making headway into your mid-twenties, you still pay quite a bit more than others in the same age bracket. Starting your search with USAA and GEICO are great ways to get the ball rolling — but be sure to pay attention to your financial health, location, and driving history. Shopping around every six months is one of the best ways to ensure you're getting the best rate.

Compare car insurance quotes quickly and easily!

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About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
  • The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.