We determined that Erie offers the cheap cable car indemnity for 20-year-old drivers at $ 2,332 per class, based on our analysis of thousands of rates across nine states. To find the cheapest rate, you should compare quotes yourself, as we found rates can vary by $ 6,392 per class .
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How much is car insurance for 20-year-olds?
Erie Insurance, available in 13 states, has the cheapest rates for 20-year-olds at $ 2,332 per year. USAA, which is only available to military members and their families, was the second most low-cost at $ 2,732 per year .
Among wide available insurance companies, Geico ranked as the most low-cost for 20-year-olds, with an average rate of $ 3,026 per class .
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Find the Cheapest Insurers for Young Drivers in Each State
Allstate rates are peculiarly expensive, with premiums closely doubly a expensive as the next-priciest rival, Progressive. If you are a young driver looking for cheap car indemnity, it ‘s important to shop around and compare prices to find the cheapest insurance company for you .
How does car insurance differ for 20-year-olds compared to other ages?
car insurance for a 20-year-old costs $ 5,517 per year on average, or $ 460 per calendar month .
young drivers, peculiarly those 25 and under, tend to have particularly gamey car insurance rates because they get into more accidents on average and are considered more at hazard by insurers .
From the ages of 18 to 20, average rates dropped by about $ 2,000 per year. additionally, rates dropped over $ 900 per year, on average, between a 20-year-old and a 21-year-old .
20-year-old men pay more for car insurance than women
We found that 20-year-old male drivers pay $ 5,777 per class on average, which is $ 519 more than female drivers, who pay $ 5,258 per year. This is because on modal, young male drivers get into more accidents compared to young female drivers .
|
Age |
Annual cost – male |
Annual cost – female Read more: The Best Car Insurance Companies for 2022 |
Percentage difference |
|---|---|---|---|
| 19 | $6,468 | $5,895 | 10% |
| 20 | $5,777 | $5,258 | 10% |
| 21 | $4,784 | $4,439 | 8% |
Certain states have banned the use of sex as a pricing variable, so men and women of the same age should pay the same for car policy in these states :
- California
- Hawaii
- Massachusetts
- Michigan (in certain areas)
- Montana
- North Carolina
- Pennsylvania
The best car insurance company for 20-year-olds in each state
We found that Geico was the cheapest insurance company in most states. But these are modal rates — the best direction to find a cheap rate for yourself is to shop around .
car indemnity prices can range greatly from department of state to state. Michigan is the most expensive state for cable car policy for a 20-year-old driver, with an average rate of $ 16,367 per class .
conversely, North Carolina has the cheapest car insurance company for young drivers. The average pace for our 20-year-old was $ 2,035 per year, and it was the alone state with a rate below $ 3,000 .
The best way for 20-year-olds to find cheap car insurance
The quotes we ‘ve collected are just averages, and the accuracy is that every cable car insurance quote will be singular to your own driver profile. But there are several testify ways 20-year-olds can save on car insurance .
Stay on your parents’ car insurance policy
If your parents keep you on their policy, it will about surely be the cheapest way to get car policy coverage. yThe increase in premiums on your parents ’ policy is likely to be lower than the price of your own policy .
Shop around between insurers
The demand same 20-year-old could see a difference of hundreds — or evening thousands — of dollars between multiple insurers for the same coverage .
In California, for exercise, our sample 20-year-old driver paid $ 2,708 per year with State Farm versus $ 5,885 with Farmers, on average. That ‘s an extreme dispute, but even the remainder between State Farm, the cheapest insurance company, and AAA, the third brassy, was hundreds of dollars .
If you ‘re a 20-year-old, patronize for cheap quotes online and make certain you are getting the same coverage from each. begin with our recommendations for the cheapest in your submit, but besides expand your research to early insurers, as you never know who may provide the cheapest rate .
Qualify for discounts
When you get quotes, make sure you ‘re getting credit for all the discounts you qualify for, such as :
- Good students (if your grades are above a certain cutoff)
- Drivers who take a defensive driving course
- People with good credit scores
Lower your coverage limits
It ‘s a good estimate to purchase enough indemnity to cover you for likely liabilities and besides damage to your own car. That ‘s why we recommend a full-coverage policy, which covers the price of damage or injury to others for which you ‘re liable and besides the price of damage to your own vehicle .
however, at a certain point, you may be purchasing excessively much coverage, and you could save on your premiums by lowering your limits. If you ‘re paying hundreds of dollars more for comprehensive and collision coverage, but your cable car is n’t worth much more than a few thousand dollars, you may end up paying more money to protect your car than it ‘s actually deserving .
Frequently asked questions
How much is car insurance per month for a 20-year-old female driver?
The typical car policy rate for a 20-year-old woman is $ 438 per month for full coverage.
How much is insurance per month for a 20-year-old male driver?
On modal, a 20-year-old man pays $ 481 per calendar month for full-coverage car policy .
Methodology
We collected quotes in nine of the most populous states in the state and across thousands of ZIP codes. For our sample driver, we used 20-year-old men and women driving a 2015 Honda Civic EX. All factors affecting rates, except those discussed in this study, were kept consistent to make a fair comparison .
coverage levels in the full-coverage policy were the trace :
|
Coverage type |
Coverage limits |
|---|---|
| Bodily liability | $50,000 per person/ $100,000 per accident |
| Property damage | $25,000 per accident |
| Uninsured/underinsured motorist bodily injury | $50,000 per person/ $100,000 per accident |
| Comprehensive & collision | $500 deductible |
| Personal injury protection | Min. when required by state |
We included 29 insurers in this analysis, and insurance company rates were entirely included in our list of average prices and recommendations if their policies were available in at least three of the nine states .
ValuePenguin ‘s analysis used indemnity rate data from Quadrant Information Services. These rates were publicly sourced from insurance company filings and should be used for comparative purposes entirely — your own quotes may be unlike .