key Takeaways
One of the best ways to save on cable car policy as a 22-year-old is to stay insured on the family indemnity policy.
Insuring an cheap sedan typically costs far less than a high-performance cable car for a 22-year-old driver .
Shopping round for the best rate and having a clean drive record are other ways to save on 22-year-old cable car policy rates. Loading …
How Much Does Car Insurance Cost for a 22-Year-Old?
The monetary value of car policy is one of the deciding factors for many people when shop and compare quotes for coverage. According to data collected by MoneyGeek, the average 22-year-old driver can expect to pay an estimate $ 1,818 in annual premiums. coverage options and costs differ from company to company, so it ’ second significant to get multiple quotes from the top policy companies to find the most low-cost price for the coverage you need .
median ANNUAL CAR INSURANCE PREMIUM FOR A 22-YEAR-OLD For the average 22-year-old driver, the modal annual premium is $1,818.
Cheapest Car Insurance Companies for 22-Year-Old Drivers
When determining costs for 22-year-old drivers, each car policy company uses the like data, but the weight they hold can vary from company to company. Determining factors for cable car indemnity costs include :
- Gender
- Age and type of car you drive
- Where you live
- Driving record (tickets and accidents)
- Discount eligibility
For this senesce group, the cheapest car indemnity party is GEICO, with an average annual premium of $ 1,562 for comprehensive and collision coverage. The most expensive is progressive, at an calculate $ 2,120.
Cheapest Companies for an Individual 22-Year-Old Policy
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- company premium
- 1. GEICO $ 1,562
- 2. Allstate $ 1,725
- 3. state farm $ 1,783
- 4. nationally $ 2,021
- 5. progressive $ 2,120
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Car Choice Matters When Insuring a Young Driver
If you ’ re looking to get cheap car policy for a 22-year-old, the character of cable car you drive matters. high-performance cars and high-value cars will be more expensive than reasonable cars like sedans and some SUVs. Generally, the less expensive a car is to purchase, the cheaper the cable car indemnity premium will be. here are a few ideas of sensible cars to insure as a 22-year-old :
- Subaru Legacy
- Honda Civic
- Ford Escape
- Chevrolet Traverse
Strategies to Save Money on Car Insurance for a 22-Year-Old
One strategy that can mean meaning savings for a 22-year-old is to add them to a family car policy policy rather of getting their own policy. If the young driver doesn ’ metric ton have their own car yet, they can be listed as a family driver, which can greatly reduce car policy costs. hera are a few more ways to save money on car indemnity without sacrificing coverage.
Compare Quotes for the Best Policy
To know you ’ re getting the best rate potential, always shop and compare cable car policy quotes from multiple companies. MoneyGeek ’ s research has shown that comparison shop can save arsenic much as $ 558 per year for this historic period group, so it ’ s worth it to take the time to find the right ship’s company that fits your coverage needs and budget.
Ensure a Clean Driving Record
For a 22-year-old or younger driver, accidents and tickets can dramatically increase car indemnity costs. To get and keep cheap cable car indemnity rates, it ’ mho best to maintain a clean drive commemorate. This means avoiding distractions in the car, staying off your telephone, minding the speed restrict and staying alarm when around other drivers to avoid potential accidents.
Find Companies That Offer Discounts
When shopping for car indemnity, the best companies offer discounts to first-time or new drivers, including 22-year-olds. For college students, the good-student discount is an easy way to save. For exercise, GEICO and other car policy companies offer a discount for any student with a “ B ” or above mark point average ( some will accept part-time attendance while others require full-time attendance ). Some states and car indemnity companies offer defensive tug course discounts, which can help reduce accident rates, saving families money over clock. Being a good driver can besides get you a discount with some companies if you stay accident-free for a length of time, normally 3 to 5 years. Belonging to certain fraternities, sororities or alumnus associations can besides provide an affiliation discount.
Lower the Coverage Amount
Another option to save on cable car indemnity costs is to reduce coverage amounts. If you own cheap cars, you may want to consider liability-only car indemnity. While this will save you money, not having comprehensive or collision coverage might not be the best idea if you can ’ metric ton afford to replace your car if it ’ south totaled. If you ’ rhenium think of going this path, weigh the pros and cons first to make indisputable it ’ sulfur correctly for you.
Choose a Sedan Over a Sports Car
When insuring a 22-year-old driver, sports cars and expensive lavishness cars will be much more expensive than a small sedan or other cheap models. In comparing the average cost of cable car insurance for a 22-year-old when added to a family policy, the average annual agio for a Toyota Camry is $ 1,818. For a Ford Mustang, it ’ mho $ 2,953. The dispute of $ 1,135 is significant and worth considering when car denounce and compare policy rates.
Why Is Car Insurance So Expensive for a 22-Year-Old?
One of the major factors in high rates for car indemnity for a 22-year-old is their drive record. Tickets and accidents begin to decrease as the inexperienced driver gains more know behind the wheel. But one slate or accident could cause rates to increase dramatically, making it hard to stick to a budget.
Traffic Statistics for 22-Year-Old Drivers
It ’ s authoritative to keep traffic statistics in beware when factor in the costs of cable car insurance for a 22-year-old. According to the AAA Foundation for Traffic Safety, drivers between 20 and 24 years old were involved in 572 crashes between 2014 and 2015. Of those 572 crashes, 157 resulted in injuries. The more careful you are when driving, the less probably you ’ ll be involved in an accident, careless of age. however, these factors make the most remainder with young, less have drivers.
ACCIDENTS PER 100 MILLION MILES DRIVEN
| Driver Age | fatal Crashes | injury Crashes | All Crashes |
|---|---|---|---|
| 16–17 | 3.75 | 361 | 1,432 |
| 18–19 | 2.47 | 197 | 730 |
| 20–24 | 2.15 | 157 | 572 |
new drivers in this historic period group are greatly affected by traffic accidents. According to the Insurance Information Institute, for every 100,000 drivers aged 20 to 24, 2,064 die per annum in car accidents. This equates to a per caput rate of 6.3 deaths, assuming a distance of 10,000 miles drive per year. It ‘s important to drive safely by staying alert, avoiding distractions and not speeding to reduce the risk of being involved in a car accident .
Methodology
To determine the average cost of car policy, MoneyGeek collected data for young drivers in each old age group. For this article, we compared data among 22-year-olds to provide up-to-date and accurate information to help you find the best bum car insurance rates and companies for this old age scope.
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About the author
Mandy Sleight is a writer for MoneyGeek and has been an indemnity agent since 2005. As a freelance writer, she uses her huge cognition of the policy industry to create informative, engaging and easy-to-understand content for consumers. Her work has been featured in Market Watch, Kiplinger and early major publications.